Blockchain can’t store an entire contract (not within reason).
What do you mean by this? I don’t work directly with blockchain, but it appears Eth has a 12MB block limit, which is 4,800 pages of simple text.
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ramble81@lemm.ee 7 months agoOkay. I’ll answer seriously to this. Blockchain can’t store an entire contract (not within reason). Likewise, contracts will never be made public. So at most you’ll get is a pointer to where the contract is held. The contents of the contract can be changed (though you could put a checksum in the chain too), but that still doesn’t address things. Also if you are concerned about “well no one else has a contract” then all that needs to happen is everyone gets a contract, then the chain is inundated with contracts and all you’d have is a pointer and a checksum and you have no idea what’s in the actual contract.
isles@lemmy.world 7 months ago
ozymandias117@lemmy.world 7 months ago
A block isn’t a single transaction. It’s way too inefficient to scale that way
A block is a group of transactions
isles@lemmy.world 7 months ago
Sure, that makes sense, so it looks like each contract could only be 20 pages of text, at least per transaction.
loke@fedia.io 7 months ago
Not only that. Backroom deals without public documentation has been done since the beginning of humanity.
Even if blockchains were widely used, these things would happen outside the blockhain and no one would be the wiser.