Smart Contracts News Wednesday, March 7 Smart contracts, Iota smart contracts, Account & more…
Smart Contracts News TLDR / Table of Contents
- About Smart Contracts in IOTA – Ralf Rottmann –
- Naturally, the wider IOTA community has been discussing IOTA’s roadmap with respect to their availability a lot. In fact, it is one of those questions, you repeatedly hear people bring up on…
- smart contracts, IOTA smart contracts, IOTA Foundation, ,
- Stellar Smart Contracts | Stellar Developers
- account, escrow account, transaction, ,
- Fujitsu Touts New Tech to Detect Ethereum Smart Contract Bugs
- smart contract source, smart contracts, multiple smart contracts, Fujitsu, smart contract transactions
- The IOTA Foundation has publicly stated, that smart contracts will not be a feature of the IOTA core but provided as a layer on top.
- And its also public knowledge, that IOTA Foundation is actively working on this additional smart contracts layer which will likely need until the end of 2018 to become GA.
- You might have seen announcements claiming that IOTA smart contracts are available or open for beta testing.
- IOTA Foundation is not officially working with or endorsing any third party smart contract solution at the time of this writing.
- Permissionless, community driven solutions are a cornerstone of IOTAs philosophy and chances are, that some of these third party smart contract solutions are absolutely awesome.
- Two periods of time must be established and agreed upon for this escrow agreement: a lock-up period, during which neither party may not manipulate (transfer, utilize) the assets, and a recovery period, after which the origin has the ability to recover the escrowed funds from the escrow account.
- This ensures that from this point on, both the escrow account and the destination account (the origin and the target) must sign all transactions that regard the escrow account.
- After the end of the lock-up time period, the only account that is needed to sign for transactions from the escrow account is the destination account.
- If the target does not submit Transaction 3 to enable access to the funds in the escrow account, the origin can submit Transaction 4 after the recovery date.
- The origin can reclaim the locked up assets if desired as Transaction 4 makes it so the target is no longer is required to sign to execute transactions using the escrow account.
- Japanese IT giant Fujitsu has revealed a new technology that it says could help to mitigate problems with ethereum’s smart contracts.
- In a statement released Wednesday, Fujitsu said the new system aims to detect in advance the risks associated with a smart contract source code on ethereum.
- In effect, the tech helps the blockchain authenticate the source call that triggers smart contract transactions.
- For instance, as the firm explained, since multiple smart contracts could have been built indirectly into a blockchain, there’s a risk that the system may notcorrectly execute the original intention of a source call.
- To that end, the new system, a result from joint efforts by Fujitsu’s laboratory and its R&D center, is claimed to alert developers of any source code vulnerability that could be exploited to abuse the language of ethereum, and which could ultimately fake the origin of a transaction.
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