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IMO the major shortcoming of smart contracts is that they have no tie to the real world, so the only thing they can really govern is other contracts, which them
by beaner 8y ago
IMO the major shortcoming of smart contracts is that they have no tie to the real world, so the only thing they can really govern is other contracts, which themselves can only do the same thing. They can't be very interesting without oracles (e.g. Augur).
- cslarson 8y agoso is Augur an oracle that makes smart contracts interesting again? MakerDAO uses an oracle for the ETH/USD price as part of is DAI system for creating a decentralised $-pegged token. It seems like there are ways to solve the issue of getting real world information into Ethereum.
- beaner 8y agoYeah, but the point is sort of that the interesting ones are not simply "code is law," since there is an element of trust involved in them. They're code + human oracles.