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by jurandom
3293 days ago
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I think the term "smart contract" is a misnomer. Sure, you could write a code similar to one I use:
Store money and confirm that I am alive every year (by means of me sending a transaction to the contract). If I don't send this transaction, all money is released to my daughters account. This looks like a standard contract. Now, dApps (distrubuted applications) also use "smart contracts" as the backend, but they do so much more than act as "contracts". For example, Golem is a computation market, Augur is a prediction market, etc. There is a whole universe of applications that can be written on Ethereum that do not quite fit under a simple "contract that you can write using a lawyer and some pen and paper" umbrella. |
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Let's hope we have to wait a long time until you die. Can one of you daughter change her receiving address meanwhile? Can you change it? (Perhaps someone stole her laptop with the wallet.)
Did you (1) write the code, or (2) copied it from ethereum.stackexchange or (3) use a webpage that writes the smartcontract for you?
Are you sure the contract has no bugs??? Can someone else change the her receiving address?
(1) If you write the code, probably nobody else review it. Let's hope it has no bugs or it's small enough to be unnoticed.
(3) If many people are using the same code, and someone finds a bug it can be used to steal the money from all the contracts. So you get hopefully more code review from the creator and users, but also more unwanted code review.
(2) If you just copied the code from a forum or something, you can have the best or the worst case of the previous scenarios, I'm not sure.
One "feature" of Bitcoin is that the programming language is so horrible that nobody tries to write code in it. So you have a few types of standard transactions (send money, post a message burning a small amount of bitcoins, ¿multisignature wallets?, ¿¿escrow service??) but all (most) of them are extremely straightforward and extremely carefully reviewed.