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Speaking of smart contracts, in fact, current blockchain smart contracts have the ability to access off-chain data by integrating decentralized oracles. The rise of blockchain technology has introduced smart contracts, which are more tamper-proof, transparent and fair. system for managing such agreements. Whether smart contracts are open source can actually be verified in a blockchain browser, and smart contracts will be governed by mathematics rather than brands. Once executed, they will automatically execute the parameters of the contract, creating a fairer environment for all parties. structure. Many investors still don’t know about open source smart contracts. What do they think? Everyone wants to know how to determine whether a smart contract is open source? Now let the editor of the currency circle tell you about it.

 What do you think about smart contract open source?

Let’s verify what is truly decentralized smart contract open source: take DEFIPLAN (Diffie Project) as an example:

Let's continue reading:

The contract is completely open source and public.

I think everyone will query smart contracts on Ethereum. As long as the query contract is verified to be a complete match, it can fully prove that the contract is completely open source and there are no privacy loopholes at all! If you see the contract is:

1: The Ethereum smart contract is not checked;

2: Did not publish verification;

3: Garbled characters appear in the program;

Therefore, friends must be discerning, and the model of the smart contract project is also very important. Thousands of projects also require your rational understanding of models and insightful observation to achieve wealth and freedom in life!

 How do smart contracts work?

1. Construction of smart contracts: Multiple users in the blockchain jointly participate in formulating a smart contract; the contract clarifies the rights and obligations of both parties, and developers program these rights and obligations electronically, and the code Contains conditions that trigger automatic execution of the contract. For example, if you deposit 300,000 yuan in a bank on a regular basis and earn 20,000 yuan in interest over five years, then the contract stipulates that the bank must pay you 320,000 yuan after five years. After the depositor receives the principal and interest from the bank and returns the relevant time notes to the bank, the agreement will be destroyed (destroyContract) or expire and terminate.

2. Storage of smart contracts: Smart contracts are spread to each node through the P2P network and stored in the blockchain;

3. Execution of smart contracts: Smart contracts regularly check the status of the automaton, verify transactions that meet the conditions, and automatically execute and notify users after reaching a consensus. For example (to give the above example of the bank) the bank pays you the principal and interest after five years. This event becomes the trigger condition of the contract, and the person in the contract (that is, you) will be notified that this has been completed. contract and executed it.

In smart contracts, all transaction data cannot be tampered with or forged, and it can also reduce the error probability and labor costs of manual reconciliation; with the popularity of smart contracts, in the face of potential disputes, we do not even need to come forward ourselves, the code in all contracts to execute.

The above content is the specific elaboration of the editor of the currency circle on the two issues of how to view smart contracts as open source and how to judge whether smart contracts are open source. A smart contract (or cryptographic contract) is a computer program that directly and automatically controls the transfer of digital assets between parties under specific conditions. Smart contracts work in the same way as traditional contracts and also automatically execute the contract. A smart contract is a program that executes exactly as set (coding, programming) by its creator. Just like traditional contracts can be enforced by law, smart contracts can be enforced by code. The Bitcoin network is the first network to use some kind of smart contracts, by using them to transfer value from one person to another.