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What's a smart contract? What's an EIP?
by raldi 9y ago
What's a smart contract? What's an EIP?
- seibelj 9y agoNo offense, but for a software engineer, you seem to have an aversion to googling answers. Smart contracts are another name for programs that run within the blockchain. Whereas Bitcoin blocks contain data that explains transactions, Ethereum blocks contain data that are virtual machine opcodes. Essentially Ethereum is a never ending list of a single-threaded processor's instructions. These instructions manipulate the global state of a computer. You pay for these transactions with ETH, and when ETH is used to pay for computation on the "world's computer", it is termed gas. EIP's are "Ethereum Improvement Proposals" which are how anyone can propose changes, protocols, whatever to the Ethereum open source project. Like RFC's for the internet protocols.
- raldi 9y agoThanks for taking the time to write this. It will save 1,000 people 10 minutes of googling.