Brought to my attention, the use of smart contracts as is foreseen in the IOTA system we have been examining for use. Most of the detail is at the link.
Introduction to IOTA Smart Contracts
I want to thank my colleagues in the IOTA Foundation who provided input and feedback for this article. In particular, Eric Hop, who headed the Qubic project and now joins IOTA Smart Contracts, and Jake Cahill, who is responsible for most of the wording.
IOTA Smart Contracts is an ongoing effort by the IOTA Foundation. The goal of this article is to inform the community about what we are doing and where we are heading with IOTA Smart Contracts. It also presents an opportunity for the community to begin contributing to the project with questions and feedback.
Background
Recently, Eric Hop presented the Qubic project in his article The State of Qubic, and explained our decision to focus exclusively on smart contracts for the time being. Naturally, these developments raised many questions from the community about how IOTA Smart Contracts relate to Qubic’s vision.
This article will answer those questions, providing some context and a technical introduction to IOTA Smart Contracts. Although many aspects of IOTA Smart Contracts were derived from the Qubic project, in many ways it is a standalone project in its own right. We believe the direction we are taking has lots of potential and we are now taking the steps necessary to prove this potential in practice.
What is a Contract?
Before we define a smart contract, it is important to first understand what a legal contract is.
Legal contracts are non-deterministic agreements that are subject to complex legal systems. The laws surrounding contracts vary depending on a number of factors, such as the country in which all parties entered into the contract. The most important word here is “non-deterministic”. This means that contracts are often ambiguous, and their subjective interpretation can lead to disputes. .... "
Showing posts with label Qubic. Show all posts
Showing posts with label Qubic. Show all posts
Monday, June 01, 2020
Friday, April 19, 2019
Qubic for Process Anyone?
Am looking to do an application that will insert 'smart contract' type specifications to observed business process, focused by business process models. Anyone used IOTA's Qubic? Qubic is still in development I know, but any early impressions or tests would be interesting. Connect with me via my Linkedin contact.
" .... What is Qubic?
In short: Qubic began life as as an initialism-turned-acronym, QBC, which stands for quorum-based computation.
Quorum (distributed_computing) on wikipedia
Specifically, Qubic is a protocol that specifies IOTA's solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle. In the long term, Qubic will allow people to leverage world-wide unused computing capacity for a myriad of computational needs, all while helping to secure the IOTA Tangle: an IOTA-based world supercomputer.
More generally, a qubic is what we call a packaged quorum-based computation that occurs according to the Qubic protocol. Below are some examples of different types of qubics - while they are distinguished here for clarity, they are all nevertheless variations on a single, general-purpose concept: the quorum-based computation, or qubic. .... "
" .... What is Qubic?
In short: Qubic began life as as an initialism-turned-acronym, QBC, which stands for quorum-based computation.
Quorum (distributed_computing) on wikipedia
Specifically, Qubic is a protocol that specifies IOTA's solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle. In the long term, Qubic will allow people to leverage world-wide unused computing capacity for a myriad of computational needs, all while helping to secure the IOTA Tangle: an IOTA-based world supercomputer.
More generally, a qubic is what we call a packaged quorum-based computation that occurs according to the Qubic protocol. Below are some examples of different types of qubics - while they are distinguished here for clarity, they are all nevertheless variations on a single, general-purpose concept: the quorum-based computation, or qubic. .... "
Monday, October 01, 2018
Quorum Based Computation
More approaches being developed for Smart Contracts. Seems still under development.
What is Qubic? (Much more here about the development)
In short: Qubic began life as as an initialism-turned-acronym, QBC, which stands for quorum-based computation.
Quorum (distributed_computing) on wikipedia
Specifically, Qubic is a protocol that specifies IOTA's solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle. In the long term, Qubic will allow people to leverage world-wide unused computing capacity for a myriad of computational needs, all while helping to secure the IOTA Tangle: an IOTA-based world supercomputer.
More generally, a qubic is a what we call a packaged quorum-based computation that occurs according to the Qubic protocol. Below are some examples of different types of qubics - while they are distinguished here for clarity, they are all nevertheless variations on a single, general-purpose concept: the quorum-based computation, or qubic. .... "
What is Qubic? (Much more here about the development)
In short: Qubic began life as as an initialism-turned-acronym, QBC, which stands for quorum-based computation.
Quorum (distributed_computing) on wikipedia
Specifically, Qubic is a protocol that specifies IOTA's solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle. In the long term, Qubic will allow people to leverage world-wide unused computing capacity for a myriad of computational needs, all while helping to secure the IOTA Tangle: an IOTA-based world supercomputer.
More generally, a qubic is a what we call a packaged quorum-based computation that occurs according to the Qubic protocol. Below are some examples of different types of qubics - while they are distinguished here for clarity, they are all nevertheless variations on a single, general-purpose concept: the quorum-based computation, or qubic. .... "
Saturday, September 22, 2018
Qubic Protocol for IOTa's Oracles, Smart Contracts
Have been examining the concept and implementations of Smart Contracts. Qubic is the version of such a protocol for the IOTA 'Blockchain' (Actually not a chain but a DAG: Directed-Acyclic-Graph architecture)
" ... Qubic is a protocol that specifies IOTA's solution for oracle machines, smart contracts, outsourced computations, and more.
The Qubic project (A payment and messaging system)
After much speculation, the time has come to shed light on one of the most eagerly awaited developments within the IOTA community: Qubic. To be very clear, Qubic is still a work in progress. This website is meant to give the IOTA community and the wider public a comprehensive overview, to better understand what we are working on, and to help convey the enormous scope of the Qubic project.
Qubic has evolved over time into something markedly different from the original Quorum-Based Coin idea coined on bitcointalk September 2012. The most apparent change is that there now exists a working protocol to serve as the messaging and payment system: IOTA.
To dismiss a few common misconceptions about Qubic right off the bat:
Qubic is not a new token or coin;
There will be no Qubic ICO or airdrop
The original Qubic idea had some hard to overcome problems. The IOTA protocol was, in fact, created to help solve those problems. Indeed, IOTA was designed to become the global standard for IoT messaging and payments. Qubic follows that standard, and is made possible by fee-free IOTA transactions, which enable:
A way to safely communicate with the outside world in a trusted environment;
A powerful, distributed fog computing platform for building complex IoT applications;
A new type of smart contract, which collects micro-payments in real time as it runs;
A reward system for incentivizing honest participation in the Tangle
What is Qubic?
In short: Qubic began life as as an initialism-turned-acronym, QBC, which stands for quorum-based computation.
Quorum (distributed_computing) on wikipedia
Specifically, Qubic is a protocol that specifies IOTA's solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle. In the long term, Qubic will allow people to leverage world-wide unused computing capacity for a myriad of computational needs, all while helping to secure the IOTA Tangle: an IOTA-based world supercomputer.
More generally, a qubic is a what we call a packaged quorum-based computation that occurs according to the Qubic protocol. Below are some examples of different types of qubics - while they are distinguished here for clarity, they are all nevertheless variations on a single, general-purpose concept: the quorum-based computation, or qubic. .... "
" ... Qubic is a protocol that specifies IOTA's solution for oracle machines, smart contracts, outsourced computations, and more.
The Qubic project (A payment and messaging system)
After much speculation, the time has come to shed light on one of the most eagerly awaited developments within the IOTA community: Qubic. To be very clear, Qubic is still a work in progress. This website is meant to give the IOTA community and the wider public a comprehensive overview, to better understand what we are working on, and to help convey the enormous scope of the Qubic project.
Qubic has evolved over time into something markedly different from the original Quorum-Based Coin idea coined on bitcointalk September 2012. The most apparent change is that there now exists a working protocol to serve as the messaging and payment system: IOTA.
To dismiss a few common misconceptions about Qubic right off the bat:
Qubic is not a new token or coin;
There will be no Qubic ICO or airdrop
The original Qubic idea had some hard to overcome problems. The IOTA protocol was, in fact, created to help solve those problems. Indeed, IOTA was designed to become the global standard for IoT messaging and payments. Qubic follows that standard, and is made possible by fee-free IOTA transactions, which enable:
A way to safely communicate with the outside world in a trusted environment;
A powerful, distributed fog computing platform for building complex IoT applications;
A new type of smart contract, which collects micro-payments in real time as it runs;
A reward system for incentivizing honest participation in the Tangle
What is Qubic?
In short: Qubic began life as as an initialism-turned-acronym, QBC, which stands for quorum-based computation.
Quorum (distributed_computing) on wikipedia
Specifically, Qubic is a protocol that specifies IOTA's solution for quorum-based computations, including such constructs as oracle machines, outsourced computations, and smart contracts. Qubic provides general-purpose, cloud- or fog-based, permissionless, multiprocessing capabilities on the Tangle. In the long term, Qubic will allow people to leverage world-wide unused computing capacity for a myriad of computational needs, all while helping to secure the IOTA Tangle: an IOTA-based world supercomputer.
More generally, a qubic is a what we call a packaged quorum-based computation that occurs according to the Qubic protocol. Below are some examples of different types of qubics - while they are distinguished here for clarity, they are all nevertheless variations on a single, general-purpose concept: the quorum-based computation, or qubic. .... "
Subscribe to:
Posts (Atom)