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ETHereum Triggers : What? Who? How?

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ETHereum Triggers : What? Who? How?

=====================

 

Sidebar - what I may do with this thread:

+ Start a clone thread on Reddit, to widen the discussion

+ Experiment with some basic smart contracts, and trigger events - to get 'hands-on' experience

What to participate? JOIN the discussion here, by joining GEI - see post#2 here (use: "admiral byrd")

 

blVuoS7.jpg

what event? who pulls? how pulled?

 

An outstanding feature of the Ethereum blockchain, is how it can be used to create "smart contracts" which are triggered in a more efficient (and perhaps cheaper) manner than standard, old-fashioned legal contracts, which may require a more elaborate discovery and settlement process.

 

This thread will look at some examples, and discuss issues and challenges in using Ether-related triggers

smart-contract.png

 

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A secondary purpose of this thread, is to talk about how ICO aps, and secondary coins, can be used in making the Ether-related smart contracts cheaper and more efficient

 

BASIC CONCEPT:

Example #1 : The Superbowl trigger
Two parties make a bet on the outcome of a sporting event, such as the Superbowl.

The stakes of that bet are measure in ETH, and the ether is maintained in a holding account, and paid out once the final score is known. The OUTCOME (points spread?) of the Superbowl is the Triggering event.

 

HOW is this trigger pulled? And who pulls it?

 

What is needed is:

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+ Event Outcome source: For the Superbowl bet, it might be the Score of the Superbowl as reported on the New York Times website

+ Triggering party/ parties:

If both parties involved in the bet submit The Results, and they agree, then the trigger can be pulled

+ Dispute:

If both parties submit, and the submitted results differ, or if only one party submits results - then there can be an automatic referal of the triggering result to an arbitrator.

(These are the basic concepts)

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Beyond the basics

Now, It gets more complicated

 

defining-smart-contracts-10-638.jpg?cb=1

 

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What various components are needed to trigger an Ethereum contract ...

 

To trigger a contract you need everything as explained by eth,

from the technology perspective you need an actual contract written in either solidity or serpent

Steps for deploying a contract would be,

  1. Write the contract
  2. Compile it using solidity or serpent
  3. Create and deploy a contract

The entire process is explained in detail ethdocs.org here and ethereum.org here

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/ 2 /

At a basic level, you need: - "Hey, what's a 'nonce' ?"

  • ether
  • signature
  • sequence ID number (technical terms called a nonce)
  • data about which contract you want to trigger, what functionality of the contract you want to trigger, and any data the contract needs to provide the functionality

As an example, if there's a contract C that has functionality that adds 2 numbers add(n1, n2), you need to provide C's address, and encoded data signifying you want to add and what the 2 numbers are.

The ID number is to prevent replay attacks on the same blockchain network (but be careful across public and private blockchains).

========

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STRONG Interest in Manila, PH - the Ethereum Meet-up Group

 

The starting of this thread, was itself "triggered" (haha) by a question asked at an Ethereum meet-up in Makati.

About 40 people (!) attended the meeting, and I have asked them to join the discussion here

=======================

 

TRIGGERING Ethereum Contracts.

This subject came up at the meeting last night, It has occurred to me that discussion of this topic could be great way to develop some useful knowledge of ethereum and smart contracts in general. To facilitate a discussion, I have started a thread about it on my own GEI website.
> http://www.greenenergyinvestors.com/index.php?showtopic=21598
Please have a look, and JOIN the discussion if it interest you - it is free to join, and "Admiral Byrd" is my favorite animal for the sign-up question.

=====

 

Here's more about the Makati Ethereul Meet-up Group, which I encourage interested people to join & attend (if possible):

> https://www.meetup.com/Manila-Ethereum-Meetup/

 

Organizer & host, Rafael Padilla described last night's event thus-ly:

 

Second Anniversary Meetup : link :
  • Yesterday · 7:00 PM
  • XXX ( 7th floor Function Room )

It's been two years since we started our discussions on Ethereum. On 17 July 2017, we'll be celebrating the second anniversary of our founding meetup.

Let's talk about our journey so far and how our community should move forward.

Some of our members will also share their plans, agenda and projects - and how the local Ethereum community could help accomplish their goals.

Plenty to talk about, so hopefully we start on time!

We would like to thank our sponsors for this Second Anniversary Meetup:

- ConsenSys Enterprise Asia
- Vipin Jain
- Taylor Miles

Reminders:
* We intend this to be our biggest meetup so far. If you wish to volunteer or contribute to this event, please contact our organizers.
* This is an open event. No need to seek permission if you wish to attend although we certainly appreciate the RSVP.
* Our open forum welcomes discussion of other topics not necessarily relevant to the announced theme. However, please allow the organizers opportunity to moderate our discussion.

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