Okay. 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.
A contract is text only, that would be a few kb at most when compressed… blockchain can definitely hold that, it can hold images, and someone even put Doom on the blockchain.
Okay. 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.
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.
A contract is text only, that would be a few kb at most when compressed… blockchain can definitely hold that, it can hold images, and someone even put Doom on the blockchain.
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.
A block isn’t a single transaction. It’s way too inefficient to scale that way
A block is a group of transactions