Anyone have thoughts about smart contracts vs. decentralized oracles? If so, PM me. Research for vid

amanda_b_johnson

amanda_b_johnson

Well-known member
Specifically -- is there overlap between the use cases of smart contracts (should they exist) and the use cases of decentralized oracles (should they exist)? If so, what are they? Does one require the other? Is one more potentially useful or promising than the other?

Send a PM with your thoughts, or just reply below. Thanks!
 
I do not understand 'decentralized oracles', yet 'smart contract' speaks for itself... IF you are a New York lawyer.

Would you explain, Amanda ?

Best
rc

...what might your objective be, here ?
 
rustycase said:
I do not understand 'decentralized oracles', yet 'smart contract' speaks for itself... IF you are a New York lawyer.

Would you explain, Amanda ?

Best
rc

...what might your objective be, here ?
Click to expand...
Hi, Rusty.

Yeah, yeah -- by "decentralized oracles," I mean this video by Evan describing how masternodes can and should one day serve as oracles. This seems like it certainly serves at least part of the uses that people have gotten so excited about "smart contracts" for -- in that 7 or 10 masternodes all agreeing upon the stock price of something, for example, could remove the doubt and uncertainty for parties trying to agree on a single source of their business information.

And by "smart contracts," my meaning is much less clear. I've been trying to ask Ethereum people about this, and have yet to receive a crystal-clear answer. What is a use case -- a real one from the real world -- where it is practically inevitable that the cost savings and ease-of-use will cause people who would either have A) operated on a loose agreement, or B) have hired lawyers and written contracts -- would use a smart contract instead? I've yet to receive a solid answer, so I thought maybe I'd get one here.

BUT, HERE IS WHAT I'M GETTING AT: in the recently posted Charles Hoskinson presentation at Coinscrum, he describes crypto 1.0 as a value transfer system, crypto 2.0 as a smart contract system, and crypto 3.0 as a governed, self-funding system. His third description is an uncanny description of how Dash currently works, though he doesn't mention Dash -- don't know why. But I'd like to nail down if, with the implementation of decentralized oracles and arbitration services, the whole "crypto 2.0 smart contract" thing will have been essentially covered, as well, giving Dash check-marks in all three boxes. The only crypto with check marks in all three boxes.

Lemme know if any of that is unclear.
 
amanda_b_johnson said:
Lemme know if any of that is unclear.
Click to expand...

:)
Tnx Amanda.
There is so much I don't understand...

I had been setting up for diversity when the spike hit btc this morning and actually lost 1%, which is not so bad...
I shall read the links you posted.

Yes, I agree that DASH performs as others would like to, yet has not yet gained the recognition.
Perhaps the D10e shall be a signifcant bonus !

Best
rc
 
Here are a few points I will add.

The smart contracts system with Ethereum is based on following the crypto rules. But the problem is there is no way to enforce the rules. It isn't owned by a government with a police force, jail system, or way to dock future wages. It isn't capable of getting into a lawsuit - because it isn't an entity. So basically, it is simply and escrow system. The only legit way to use it is to pay first. Funds don't get distributed until xyz happens.

Andreas A. is involved with a company trying to enforce contracts through the legal system. I don't know exactly how this will work. The appeal of the slock.it dao was that it wasn't owned by any entity or government and that laws didn't apply.

As for oracles, I think this is just a way to make decisions without a central governance structure. So the decisions from masternodes voting are a decentralized oracle. The oracles are the masternode owners(actual people). I guess there are other ways to do this with programmable decisions but I would consider this more of a programmed decision - not really an oracle.

The best way to use a contract with funds in crypto is how Dash is doing it.
#1 Use a currency that has value and is controlled by the system making the decision.
#2 Make decisions about distributing funds only. You can't control someone without force - that can't happen without a government or physical entity.
#3 Use a system that has human intelligence - There are too many variables to program an AI to get it right. Masternode voting is ideal.
#4 Add programmable features based on repeatable items like price, date, events, etc. (Hello Dash 12.1+)
 
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amanda_b_johnson said:
... crypto 3.0 as a governed, self-funding system. His third description is an uncanny description of how Dash currently works, though he doesn't mention Dash -- don't know why.
Click to expand...
Feed me, Seymour!

Just like the shock jocks that ambushed you a few weeks ago; too busy fanboying for their flavor of the weak to notice, or understand, the elephant in their living room for the last 2.5 years... They discredit themselves by just now noticing and trying to pass off their own obliviousness as claims-in-the-moment by "the enemy."

Suddenly, overnight, its done already!

I flashed on Little Shop of Horrors every time those guys acted like it was new and unfathomable. Get used to it. Cryptotards are not paying attention. When caught oblivious to 2.5 years of progress, they lash out to cover for it. Only making it that much more obvious that they have no idea what's going on.


When suddenly, and without warning...

Also, all that stuff that @Solarminer said, again.

They won't be snatching this one up for a dolla ninedy foive...

Drat! Holding the wrong bags! Troll harder!

Excuse me, I couldn't help noticing that strange and interesting Crypto!

Do I gotta bust out my hot tub filled with the blood of the weak hands? Again?
 
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IMO d10e is exposure.
An opportunity as part of an advertising/promotional campaign to spread public awareness of DASH.
In the world of business, name recognition is a significant factor.
All elements of a campaign must coincide with each other in a continuing process to be effective.
T-shirts & bumper stickers, even a small mention on social forums, are all beneficial and shall reap benefit over time.
Go long on DASH !
rc
 
amanda_b_johnson said:
BUT, HERE IS WHAT I'M GETTING AT: in the recently posted Charles Hoskinson presentation at Coinscrum, he describes crypto 1.0 as a value transfer system, crypto 2.0 as a smart contract system, and crypto 3.0 as a governed, self-funding system. .
Click to expand...

Α governed, self-funding system requires a good knowledge of the games theory and the nash equilibrium..
And it has been proved that not all nash equilibrium cases can be solved.

So no, it is not as simple as you think so. And no, the governed self-funding system problem is not solved by dash. Dash has done some correct (yet simple) steps, but there is a long way to go.

Yes I know, I will receive again dislikes and troll ratings for this post. Who cares about nash equilibrium in governed, self funding systems? Who cares about MIT papers? The only way to receive likes from the people over here, the only way for a project to pass in the budget system, is to post and propose for simple things, like for T-shirts for example. But I warn you, do not judge me as a troll, or you too will be judged.
 
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rustycase said:
Go long on DASH !
Click to expand...
Eh, I went all-in about 2.5 years ago. A few days after finding Evan's ANN thread on BCT. I knew he was the guy. I bet on Evan, not xcoin/darkcoin/dash. There have been some organizational and directional growing pains, but I think it's over the hump.
 
The D10e was worth it, imho, for just the result that McAfee gave Dash a shout out ("amazing technology"). I know a few people that were suddenly interested because of that, regardless of what any of us think of McAfee.
 
And demo, I use game theory and Nash equilibrium a lot. I won't go into why, but I do. Your point wasn't lost on me.
 
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