information!
Understanding the type of information stored in the blockchain will help us to decide how to implement Oracles means for the cross chain communication etc.
Records = Assets, People, In Game assets, Non Fungible Assets, a real world farm.
Contracts = A transfer of an asset (say, a farm) between 2 people can be depicted in a contract. In the real world a contract will be defined in a legal language. Various laws of the state will become applicable. In the context of a blockchain, a contract will be written in a “Smart Contract Language.” Blockchains that support contracts have their own language constructs applicable only in their respective context.
Transactions = The action of transferring an asset, or an action on a unique address or transfer of value is defined as a transaction in the context of a blockchain.
information!
Understanding the type of information stored in the blockchain will help us to decide how to implement Oracles means for the cross chain communication etc.
A blockchain is a Distributed OpenLedger of Records Contracts & Transactions between multiple parties.
Records = Assets, People, In Game assets, Non Fungible Assets, a real world farm.
Contracts = A transfer of an asset (say, a farm) between 2 people can be depicted in a contract. In the real world a contract will be defined in a legal language. Various laws of the state will become applicable. In the context of a blockchain, a contract will be written in a “Smart Contract Language.” Blockchains that support contracts have their own language constructs applicable only in their respective context.
Transactions = The action of transferring an asset, or an action on a unique address or transfer of value is defined as a transaction in the context of a blockchain.
Posted from my blog with SteemPress : https://freebird.in/what-is-stored-in-a-blockchain/