"Smart contract" is a very useful concept & phrase. "Smart" as in "smart phone" (shorthand for computerized phone), "contract" meaning it does some important things we previously relied on contracts to do for our deals, especially controlling assets & incentivizing performance.https://twitter.com/timoncc/status/1051420695488552960 …
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That said, if your dApp/persistent script doesn't control assets or, short of invoking traditional law, incentivize performance, it's not a smart contract and you should call it something else.
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Replying to @NickSzabo4
Yes, but it also blurs the fact that we are talking about computer code/functions. It blurs the idea/fact that Web 3.0 is server side code running on a shared infrastructure rather than a centralized client/server HTTP infrastructure. For that reason it's not great terminology.
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Replying to @JoecoopeJoe @NickSzabo4
How about 'distributed server-side code'? ...Which is what it is. It doesn't necessarily have anything to do with legal contracts which is what the phrase 'smart contracts' elicits in the layman's mind.
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Replying to @macaddress007 @JoecoopeJoe
Because that phrase completely misses the point of what most of us using the phrase are trying to accomplish (and sometimes succeeding), and it completely misses the point of why we are using trust-minimized public blockchains instead of good old centralized SQL databases.
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Namely, we aren't just running some generic programs. We are running programs that control assets & usually also verify performance, & combing those two functions incentivize performance. Things we previously relied on traditional contracts for.
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Replying to @NickSzabo4 @macaddress007
Traditional contracts relied on a handshake. Back to the future?
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