Smart Contract Sample Clauses

Smart Contract. This Agreement is created through the use of an Ethereum smart contract at otoco.eth. Any amendments to this Agreement shall only be valid if made on the strongest chain of the Ethereum main blockchain at the time of the amendment and under the conditions of this Agreement. Any signature or execution made through the use of private keys on the blockchain for any matters relating to the Company shall be valid, as if signed in writing.
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Smart Contract. This smart contract is responsi- ble for receiving a booking request, making sure that appropriate deposits have been made by both the owner and the consumer, handling cancella- tion requests, dealing with fraudulent activities, and a smooth rental procedure in general.
Smart Contract. A smart contract [14] is a program that is executed by the consensus participants and its execution results are stored on the blockchain as new transactions. In other words, smart contracts allow blockchains to run arbitrary applications rather than a single specific application (such as digital currency in the case of Bitcoin). Smart contracts enable the implementation of new types of applications that benefit from the advantages of blockchain technology. Compared to traditional contracts and financial applications, smart contracts can enable better business automation (a smart contract can be executed automatically by the blockchain system when its execution conditions are met), increased transparency (the business logic and transaction correctness can be verified by anyone from the chain), high availability (the contract’s execution cannot be prevented by a single contract participant), and better privacy (business partners can enter contracts without using or revealing their real identities). Blockchains such as Ethereum and Hyperledger Fabric use smart contracts to store data on the chain. The Layer 1 software implements a virtual machine that runs the instructions contained in the smart contract. To store data on the blockchain one must write a smart contract that takes a data input and creates the transaction that gets stored on the chain. Smart contracts can be created and added to the blockchain at any time.
Smart Contract. Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement or time loss.
Smart Contract refers to a decentralized platform that enables transactions on the data on the Blockchain network in a predetermined flow and verified by a secure computer network. Such contracts, which are not legally binding, are uploaded to the blockchain network by signing cryptographically by agreeing on the content of the chain.
Smart Contract refers to a computer program that operates with distributed ledger-based technologies and whose execution automatically joins two or more parties based on predefined effects. Smart contracts satisfy the requirement of the written form subject to the computer identification of the interested parties..
Smart Contract. Off-Chain contracts are smart contracts whose code is not run by the miners, re- questers, endorsers or harvesters, but rather the client. Interoperability consensus facilitates this process to- • run data-intensive computations more cost-effectively • run computations with high computational time without clogging the network • write code that is not bound to a cryptocurrency incentive structure • write code that has less impact on the blockchain. We still want to keep our serverless architecture, so we can use peer-to-peer web protocols to achieve this. Let’s think about solving the game problem. As long as the game runs smoothly, i.e., each player is alternatingly sending a correct move; the blockchain need not verify all these correct moves-the clients can do that. All moves directly between the clients are sent to the blockchain. Each player should have the possibility to prove the current game state independently. To prohibit cheating, each report to the blockchain should consist of the complete game state with a valid signature from the other player. If the game is managed in this way it can be cryptographically proven that both players accept the current state. In other words, during normal gameplay, each player keeps sending their next move and the resulting game state, plus a cryptographic signature. If the other player disagrees, they can submit this data to the Smart Contract for verification. The same can be done at the end of the game. Furthermore, clients will acknowledge each other’s messages to discover problems faster Apart from setting up the game (Initialize and Join), clients only send messages to the Blockchain when they want to claim something (timeout, win, draw), and to claim their prize. The application is still serverless, secure and trustless. In the end, the blockchain is the single source of truth, but the clients help in making it more efficient. In case of a problem, however, the game can fully degrade to run on the Blockchain. The smart contract to verify the state can be stored and computed Off-Chain. Cre- ating an identity for the Off-Chain smart contract on blockchain using code signing techniques secures it from being tampered as well as preserves the immutability prop- erty, the only reasons for which it is preferred to be On-Chain. Moreover applying principles of "proof-carrying code," the smart contract is verified for its identity just before it executes and modifies the state of the blockchain. The identity of the c...
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Smart Contract. 19 3-1.1. BLOCKCHAIN BUSINESS 20 3-1.2. AUTOMATIC DELIVERY OF SMART CONTRACT 20 3-2. TIMEBOX OPERATION 20 3-2.1. THE TIMEBOX OPERATION IN DISTRIBUTED DATA STORAGE 20 3-2.2. TIMEBOX STORAGE PROTOCOL 21 3-3. OPEN SOURCE 22 4. OUR TEAM 23 5. FUTURE AND FOLLOW-UP WORK 36 6. RISK MANAGEMENT 38 6-1. RISK MANAGEMENT 38 6-1.1. KNOWN RISKS OF BLOCKCHAIN. 38 6-2. CRYPTO-CURRENCY RISKS 39 6-3. TIMEBOX PROJECT RISK 40 6-4. KNOW-YOUR CUSTOMER (KYC) POLICY 41 6-5. ANTI-MONEY LAUNDERING ("AML") AND COUNTER TERRORIST FINANCING 43 ("CTF") POLICY 05 xxxxxxx.xxxxxxx
Smart Contract. A smart contract is an executable code that is triggered when predefined conditions are met. Despite smart contracts not being new to the research community [20], they have
Smart Contract. For the purpose of recording the ownership of the Cryptocurrency Right created under the Agreement BSX, Token Issuer generates a Smart Contract. This Smart Contract facilitates the direct transfer of the Cryptocurrency Right created to an individual or an entity that makes the payment for the Token representing the ownership of the Cryptocurrency Right created under the Agreement K003-2017 (the “Token Holder”).
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