Chapter
Achieving Consensus through Hybrid Smart Contracts.
1:39:47 - 1:47:54 (08:06)
Hybrid smart contracts combine the benefits of blockchain-based smart contracts with external data sources like the Oracle network to achieve consensus and provide proof of settled transactions, increasing the reputation and use cases of both the contract and the network.
Clips
Branded letters of credit are crucial for global trade in the early stages, enabling a paper agreement with a legal framework behind it.
1:39:47 - 1:41:14 (01:26)
Summary
Branded letters of credit are crucial for global trade in the early stages, enabling a paper agreement with a legal framework behind it. However, it is still a guarantee based on branding and paper, which can be vague and opaque in the world of commerce.
ChapterAchieving Consensus through Hybrid Smart Contracts.
Episode#181 – Sergey Nazarov: Chainlink, Smart Contracts, and Oracle Networks
PodcastLex Fridman Podcast
Cryptocurrency, using cryptographic primitives, offers users the promise of independent control and access to their money or tokens without the limitations of traditional banking systems that rely on a central authority.
1:41:14 - 1:45:19 (04:05)
Summary
Cryptocurrency, using cryptographic primitives, offers users the promise of independent control and access to their money or tokens without the limitations of traditional banking systems that rely on a central authority.
ChapterAchieving Consensus through Hybrid Smart Contracts.
Episode#181 – Sergey Nazarov: Chainlink, Smart Contracts, and Oracle Networks
PodcastLex Fridman Podcast
This podcast discusses a decentralized insurance contract for crop insurance, which combines contract code with a decentralized Oracle network, providing clear and transparent information to its million users.
1:45:19 - 1:47:54 (02:35)
Summary
This podcast discusses a decentralized insurance contract for crop insurance, which combines contract code with a decentralized Oracle network, providing clear and transparent information to its million users. The hybrid smart contract contributes reputations and proofs to both the contract and the Oracle network.