Viewing a response to: @dragosroua/smart-contracts-on-the-bitcoin-blockchain-yes-as-long-as-they-are-outside-of-the-blockchain
Is the lightning network an example of such a smart contract built on top of Bitcoin?
| author | yabapmatt |
|---|---|
| permlink | re-dragosroua-smart-contracts-on-the-bitcoin-blockchain-yes-as-long-as-they-are-outside-of-the-blockchain-20171129t154637228z |
| category | bitcoin |
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Nope. It's something completely different. Lightning Network can be seen as an off-chain smart contract, but it will still need to store visible data about the contract. AFAIK, it opens a channel between the sender and receiver, which works off-chain, thus being faster and cheaper. What Scriptless Script do, if I understand this correctly, is allowing third-party apps to write trustable smart contracts without storing data on the blockchain directly. This [article](https://bitcoinmagazine.com/articles/scriptless-scripts-how-bitcoin-can-support-smart-contracts-without-smart-contracts/), which also sparked my interest in this, can shed more light on this matter.
| author | dragosroua |
|---|---|
| permlink | re-yabapmatt-re-dragosroua-smart-contracts-on-the-bitcoin-blockchain-yes-as-long-as-they-are-outside-of-the-blockchain-20171129t155012880z |
| category | bitcoin |
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Thanks! Too much to learn and not enough time!
| author | yabapmatt |
|---|---|
| permlink | re-dragosroua-re-yabapmatt-re-dragosroua-smart-contracts-on-the-bitcoin-blockchain-yes-as-long-as-they-are-outside-of-the-blockchain-20171129t155139126z |
| category | bitcoin |
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That is what I feel too since I found about blockchain...
| author | mejustandrew |
|---|---|
| permlink | re-yabapmatt-re-dragosroua-re-yabapmatt-re-dragosroua-smart-contracts-on-the-bitcoin-blockchain-yes-as-long-as-they-are-outside-of-the-blockchain-20171129t173029040z |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin"],"app":"steemit/0.1"} |
| created | 2017-11-29 17:29:51 |
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