As with all new technologies, there will be people trying to cash in on the hype. But once it becomes more established (or I should probably say if it becomes more established, as there are no guarantees), I can easily see it being part of everyday life. Ideally people won't even realise they're using them, because the software will be user-friendly enough to do all the "heavy lifting".
If Lightning Network adoption eventually takes off in the way we hope it will, that's basically underpinned by smart contracts. So that's probably the prime example at the moment. Perhaps there will be some other practical use-cases that other developers come up with in the meantime. It's still early days, though. "Wait-and-see" territory.
Topic: Smart Contracts - just a buzzword or are they applicable to the real world? - page 2. (Read 442 times)
August 19, 2018, 07:01:09 AM
August 19, 2018, 04:37:58 AM
I constantly asking me if Smart Contracts are just a overhyped topic to attract people to Altcoins and ICOs or do/could they have real use cases in our daily life besides the topic of decentralized money and Bitcoin?
I'm just interested in resilient examples which are applicable today not in any kind of hocus-pocus scenarios for the next century.
Quote from: https://en.wikipedia.org/wiki/Smart_contract
A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.[1] Smart contracts were first proposed by Nick Szabo, who coined the term, in 1994.[2]
Proponents of smart contracts claim that many kinds of contractual clauses may be made partially or fully self-executing, self-enforcing, or both. The aim of smart contracts is to provide security that is superior to traditional contract law and to reduce other transaction costs associated with contracting. Various cryptocurrencies have implemented types of smart contracts.
Proponents of smart contracts claim that many kinds of contractual clauses may be made partially or fully self-executing, self-enforcing, or both. The aim of smart contracts is to provide security that is superior to traditional contract law and to reduce other transaction costs associated with contracting. Various cryptocurrencies have implemented types of smart contracts.
I'm just interested in resilient examples which are applicable today not in any kind of hocus-pocus scenarios for the next century.
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