Smart contracts are self-executing contracts that can be deployed using any blockchain application that supports the execution of basic scripts in its transactions. Most blockchain platforms support a domain-specific language. We have already come across the language used in Bitcoin transactions, which is called Script, a stack-based language with limited capabilities. Although Script is a Turing-incomplete language, it only has a few options that can be used to create complex transactions. It can create multi-signature transactions, payment channels, and atomic cross-chain trading. In addition to this, Bitcoin can create a transaction with a lock time. A transaction can be created but locked for a certain amount of time in case the creator wants to invalidate the transaction before the lock time expires. Although Bitcoin's Script language...
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You're reading from Foundations of Blockchain
Koshik Raj is an information security enthusiast who holds a master's degree in computer science and information security. He has a background of working with RSA, a network security company. He has also worked as a senior developer in CoWrks, Bengaluru. Koshik has been studying blockchain technology since he was introduced to Bitcoin while pursuing his master's. He is currently advising an educational start-up looking to implement blockchain technology in the education space. He is also setting up a blockchain incubation center for students and researchers in Bengaluru to aid mentorship and networking, and even the launching and marketing of their ideas.
Read more about Koshik Raj
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Koshik Raj is an information security enthusiast who holds a master's degree in computer science and information security. He has a background of working with RSA, a network security company. He has also worked as a senior developer in CoWrks, Bengaluru. Koshik has been studying blockchain technology since he was introduced to Bitcoin while pursuing his master's. He is currently advising an educational start-up looking to implement blockchain technology in the education space. He is also setting up a blockchain incubation center for students and researchers in Bengaluru to aid mentorship and networking, and even the launching and marketing of their ideas.
Read more about Koshik Raj