What is a smart contract? That depends on the model of computation we are talking about. There are two competing computational models used in decen- tralised databases: the virtual computer model and the UTXO model. The virtual computer model is used by Ethereum 5 . It models the database as the in-memory state of a global computer with a single thread of execution deter- mined by the block chain. In the UTXO model, as used in Bitcoin, the database is a set of immutable rows keyed by (hash:output index). Transactions de- fine outputs that append new rows and inputs which consume existing rows. The term “smart contract” has a different meaning in each model. A deeper discussion of the tradeoffs and terminology in the different approaches can be found in the Corda introductory paper
If you want to change selection, open document below and click on "Move attachment"
- (no access) - corda-technical-whitepaper.pdf, p6
|status||not read|| ||reprioritisations|
|last reprioritisation on|| ||suggested re-reading day|
|started reading on|| ||finished reading on|