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Smart Contracts News Thursday, March 22 Smart contracts, Smart contract, Smart contracts & more…

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Smart Contracts News TLDR / Table of Contents

  • Explain me like I’m five: What are Smart Contracts – MeetnGreetMe ICO –
    • Blockchain-related topics are extremely hot nowadays and smart contracts is one of those. We decided to launch a series of articles where we will explain in plain language such things as blockchain…
    • smart contracts, smart contract, cutting edge technologies, Automated contracts, Blockchain-related topics
  • Why we choose a smart contract? – Argo Project –
    • The best way to describe smart contracts is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart…
    • smart contracts, Savings Smart contracts, abnormally smart hacker, Blockchain smart contract, blockchain ledger streamlines
    • Hardly a week passes without large scale hacks in the crypto world. It’s not just centralised exchanges that are targets of attackers. Successful hacks such as the DAO, Parity1 and Parity2 have shown…
    • smart contracts, vulnerable smart contracts, main net, Especially smart contracts, honeypot smart contracts

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Explain me like I’m five: What are Smart Contracts – MeetnGreetMe ICO –

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  • We decided to launch a series of articles where we will explain in plain language such things as blockchain, cryptocurrency, smart contracts and ICOs.
  • Weve already explained Blockchain and have mentioned one of the greatest advantages of itsmart contracts.
  • Smart contract is an agreement that has been codified and stored in the blockchain network (on each participant database).
  • As the smart contract is stored on every computer in the network, they all must execute it and get to the same result.
  • Smart Contracts are Awesome and hereswhy:AutonomyYoure the one making the agreement; theres no need to rely on any intermediary to confirm.

[/vc_column_text][vc_column_text el_class=”topfeed-tags”]Tags: smart contracts, smart contract, cutting edge technologies, Automated contracts, Blockchain-related topics[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_separator][vc_column_text el_class=”topfeed-tweet”]

[/vc_column_text][vc_column_text el_class=”topfeed-embedly”]Explain me like I’m five: What are Smart Contracts – MeetnGreetMe ICO – Medium[/vc_column_text][/vc_column][/vc_row][vc_row el_id=”Why-we-choose-a-smart-contract-Argo-Project-“][vc_column width=”1/2”][vc_separator][vc_column_text]

Why we choose a smart contract? – Argo Project –

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  • Why we choose a smart contract?The best way to describe smart contracts is to compare the technology to a vending machine.
  • More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations.
  • Smart contracts givesAutonomy Youre the one making the agreement; theres no need to rely on a broker, lawyer or other intermediaries to confirm.
  • Smart contract in ARGO ecosystemThe ARGO ecosystem is based on the micro-service architecture and consists of many different blocks that can be divided into control modules and AR operation modules.
  • Blockchain smart contract is located at the exchange and also freely available on Github for the audit.

[/vc_column_text][vc_column_text el_class=”topfeed-tags”]Tags: smart contracts, Savings Smart contracts, abnormally smart hacker, Blockchain smart contract, blockchain ledger streamlines[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_separator][vc_column_text el_class=”topfeed-tweet”]

[/vc_column_text][vc_column_text el_class=”topfeed-embedly”]Why we choose a smart contract? – Argo Project – Medium[/vc_column_text][/vc_column][/vc_row][vc_row el_id=””][vc_column width=”1/2″][vc_separator][vc_column_text]

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  • Especially smart contracts have become a prime target for attackers for the following reasons: – Finality of transactions: This is a special property of blockchain systems and it means that once a transaction (or state change) took place it cant be taken back or at least not with grave consequences…
  • In traditional banking systems this is quite different, an attack even though initially successful could be stopped and any transactions could be rolled back if noticed early enough.Monetising successful attacks is straight forward: Once the funds of a smart contract can be withdrawn to an attackers account, transferring the funds…
  • Blockchain explorers such Etherscan allow also to attach source code to a smart contract and so giving access to high level Solidity code to potential attackers.Since we have established now why attackers find smart contracts attractive targets, lets further look into the circumstances that could decide if a smart contracts…
  • Availability of source code addtionally decreases analyis time while also lowering the bar for potential attackers to hack smart contracts since byte code is harder to read and therefore it takes more skill and time to analyse.Taking the two factors above in consideration, one could assume that every smart contract…
  • They are created to lure attackers with the following properties: – Balance: Honeypots are created with an initial balance that often seem to be in the range of 0.51.0 ETH.Vulnerability: A weakness in the code that seemingly allows an attacker to withdraw all the funds.Recovery Mechanism: Allows owner to reclaim…

[/vc_column_text][vc_column_text el_class=”topfeed-tags”]Tags: smart contracts, vulnerable smart contracts, main net, Especially smart contracts, honeypot smart contracts[/vc_column_text][/vc_column][vc_column width=”1/2″][vc_separator][vc_column_text el_class=”topfeed-tweet”]

[/vc_column_text][vc_column_text el_class=”topfeed-embedly”]The phenomenon of smart contract honeypots – Gerhard Wagner – Medium[/vc_column_text][/vc_column][/vc_row]

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