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Smart contracts

Sun, 01 Jun 2025 00:00:00 +0000

In this moment of great innovations across the web the most notable standing giant is the Web 3, many speak of it, few dare to question the challenge it solves and the opportunities it brings.

Smart contracts arising from this giant are what you ca fathom as not only reading and writing how the data flows but now also own what is digital and much more. The landscape seems too vast for an idea like owing above reading and writing to make such a difference until you realize that Web 3 in these terms has been predicated on writing and watching alone.

Since the first era of the blockchain, the so called Bitcoin era, we moved from the paradigm of sparse networks of very audacious innovators coming together to theorize and theory craft as all mathematicians do about models of every possible thing to what they call the Ethereum era that carries this time a strong sense of programmability.

So what arose from these differences that we now possess smart contracts? Now we are able as the new stage of the internet rises to program what has been left called by many “bitcoins” and how we do this is by possessing a new programming language and its virtual machine, the EVM.

This language , for the Ethereum network called Solidity allows to validate an exchange of assets, coins or goods for you to create what you needed lawyers and bureaucrats for and that is “the agreement to exchange” and in computer terms “save” that transaction on the blockchain, now famously the Ethereum L1 chain.

So how do these contracts work?

Two parties have a need to exchange, one of them, let’s suppose the party wanting to sell a token amount creates tokens that are programmed to validate that an exchange has occurred.

This contract now, being also a token now can possess an amount of tokens that holds in storage to send to the seller and a percentage of coins that can be withdrawn by the chain to lend a contract program execution its so called gas and some defined amounts withheld for both parties to respect the agreement.

The technology sounds complicated at first but this second era of blockchain lets you have many traditional web 2 technology interfaces that you wouldn’t have otherwise on innovative technologies and these include interfaces to code smart contracts online, websites that let you use their code for the most notable forms of smart contracts, otherwise coded from scratch and requiring programming knowledge.

Calculating the incognitas

Some of these websites already have indexes to value what are the most technology bound variables such as the retention for executing the smart contract, leaving you metaphorically hands free on exchanging your valuable assets and now also tokens.

Tokens

Sun, 01 Jun 2025 00:00:00 +0000

In this moment of great innovations across the web the most notable standing giant is the Web 3, many speak of it, few dare to question the challenge it solves and the opportunities it brings

What are tokens ?

Tokens are the main known entity in the web 3 space for representing currency but they are in reality much more than that. You can assume that the network’s so called economy circulates them as their main asset and considers them i the big picture as fungible currencies, gui and gwei, in laymen terms gas to compute the transactions, abstract assets built on top of fungible tokes as non fungible ones, certifications of various nature.

Worry some as it sounds their encoding is a serious second if not third blockchain era application of token standards and this makes them differentiated for all intended purposes.

What is their usage ?

In practice how you mostly encounter tokes is as non fungible assets and contracts, fungible currencies and communications such as votes and certifications of fulfillment.

Code wise

You can think of tokens as cryptographic code defined by standards, these standards are a set called ERC for the Ethereum based ones.

Another way of seeing them is as mathematical problems of different nature assigned to mining nodes on participation.

And in more simple terms numbers on a treasury or wallet balance.

Three ways the network yields tokens

These tokens are generated in may ways across the network and having community values shared together created value generation methods that go beyond what you could achieve by creating self sustaining transactions.

In general terms of network effects you ca describe how the network generated through games pools of tokes with the purpose of putting into circulation liquidity that could attract more games and network participants.

Another front to generate tokes is through the yielding of odes that each epoch generate more tokens in order to continue generating.

On top of these network effects you can trade, buy ad sell different assets both fungible and non or compound with subnets through games and investment yielding.

How could you get them without owning them?

Tokens can be bought through exchange platforms that possess services like indexes with current and future values of a given network’s currency, some of these listings might provide buying options for some of the indexed blockchain networks through fiat currency deposits.

I cases of tokens of networks created on top of other networks as composite but self standing networks it can also provide an intermediary service for converting them.

Wallets

Sun, 01 Jun 2025 00:00:00 +0000

In this moment of great innovation across the web the most notable standing giant is the web3, many speak of it few dare to question the challenge that it solves and the opportunities it brings.

What are wallets?

In this context possessing a stake is also possessing a wallet, wallets are a way to possess what you have programmed and carried through the games you have played on the network with or without an organization or what you have yielded from investments in the epochs passed by, and in the most common way it is your personal operations node from which you transact and exchange your tokens.

What can you do with them?

From your wallet transactions can leave to other wallets, to treasuries on the common net, to organizations and services or yield generators making use of financial game theory concept named incubation (like you would see for startups raising funds) and locking without technically leaving your wallet an amount of tokens autogenerating fungible to non fungible assets from various missions.

Technology wise?

With this technology you clearly have a blockchain network address and can choose from extensions on your browser that you sign in from your wallet comprehending account or your own account on a service like a node provider or even choose a native L2 chain Node like wallet through for example Ethereum.

This technology lets you deposit in your possession tokens of a specific chain and lets you interact according to your node provider, tokens in questions with the network that you choose to interact with be that a sub-chain in the L2 layer or a whole other chain if it has an interoperable protocol.

Posts

Tue, 24 Oct 2023 00:00:00 +0000

Web3

Tue, 24 Oct 2023 00:00:00 +0000

The ecosystem is still new, the layers are stil being built, brands rise up everyday allowing finance to be decentralized and devoid from previously highly burocratic services.

Smart Contracts

Tokens

Wallets