Re:It's Not Just a Bitcoin Bubble – It's Far Worse
by quickthrower2 on Monday December 18, 2017 @09:22PM
(#15957253)
When I think of Etherium - it is about transparency.
For Etherium contracts to be useful they need to interface with the outside word. That means you need to trust someone to insert that data (e.g. a stock price) into the contract, and they might cheat and put bad data in.
However, if they do it is publicly visible and they are shamed and not trusted.
If they do stay honest, everything else about the contract will execute as expected and they can be no shenanigans (modulo bugs in the contract).
This isn't perfect but it is arguably better than company takes your money, hopefully they give you back what they owe.
For Etherium contracts to be useful they need to interface with the outside word. That means you need to trust someone to insert that data (e.g. a stock price) into the contract, and they might cheat and put bad data in.
However, if they do it is publicly visible and they are shamed and not trusted.
If they do stay honest, everything else about the contract will execute as expected and they can be no shenanigans (modulo bugs in the contract).
This isn't perfect but it is arguably better than company takes your money, hopefully they give you back what they owe.