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Think of legal contracts as executable scripts. The Etherium network is the infrastructure to make those digital contracts work in a decentralized and autonomou
by lumberjack 11y ago
Think of legal contracts as executable scripts. The Etherium network is the infrastructure to make those digital contracts work in a decentralized and autonomous fashion.
So an example use case would be a script that receives transactions from anyone. Each transaction would include some coins and some output address. Then at specific intervals the script would dump all the received coins into the most popular of the received output address. It would effectively be sort of a rudimentary charity organization. The beauty of it is that enforcement is 100% guaranteed and automatic and there's also 100% transparency and furthermore the script has no owners or masters. It's completely autonomous.
The scripts are called DAO/C, Decentralized Autonomous Organizations/C..