What is a smart contract? Do not let the word contract confuse you. Smart contracts have very little to do with legal stuff. Smart contracts are computer programs. However, unlike normal computer programs, smart contracts are executed on the Blockchain. Main purpose of smart contracts is to embody certain logic when executing transactions on the Blockchain. As such, smart contracts are ideal for creating a so called “trustless environment”.
Why smart contracts are powerful?
In this post I will try to explain one of the most confusing aspects of Ethereum — gas. You have probably heard about it but most likely, it did not make much sense to you. The concept of gas is indeed confusing partly because it is a low-level concept used by the Ethereum computing engine (EVM). However, gas is what keeps Ethereum running and it is important to have a clear understanding of this concept.
Asset tokenization on Blockchain is a steady trend of 2018. It seems that everything is being tokenized on Blockchain from paintings, diamonds and company stocks to real estate. In this article, I will describe what it means to tokenize an asset on Blockchain and how it applies to physical assets. This article is a part of Explained in Plain English series. In the previous article, I explained Ethereum gas in plain English.
I often get asked by aspiring programmers (and more often by their parents) what programming languages they should learn. You may think that learning programming languages is a matter of taste. However, that’s very far from being true. I will bring just two arguments.