SC14 Uncovering the Distinction Between Hashing and Smart Contracts in Blockchain #shorts

There is a difference between the lottery of hashing in blockchain and the execution of smart contracts. In current blockchain networks, the miner has to do both. The nodes have to verify both. But in principle, those are two different things. The hash lottery is designed in such a way that the average time between blocks is constant like in Bitcoin, 10 minutes per block on average. And achieving this time ordering is independent in principle, of whether the execution of the contracts was correct or not. Obviously, networks which are not Proof of Work like Proof of Stake, you don’t have this hashing lottery, but you still have to execute the smart contracts.
On Tau, the execution of smart contracts will be converted to a sequence of BDD operations, and those BDD operations can be done by anyone in the network possibly for payment and such a computation can be trusted efficiently by anyone else in the network.

Ohad Asor, Founder and CTO of Tau - https://tau.net/our-team/

🎥 https://www.youtube.com/watch?v=isnXWjHLlx8&list=PLeBSjZu0y6vV-vSKu9EcoaceQEiWtYcP6&index=14 👈

#Tau #Tauchain #Agoras #shorts #blockchain #formalverification

🧀Test Tau Meta Language.
🔗 tml.tau.net
📄Abstract: Draft for Community Review
🔗https://lnkd.in/gWJZj9sN
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🔗 github.com/IDNI/TML
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