This is How Smart Contracts and Ethereum Work. Brief Introduction

Lukas K
Lukas K
Jul 6, 2017 · 5 min read

Gas and miners motivation

Communication with outer world

The solution — Oracle

Use case — crowdfunding

Ethereum creators provided some simple examples that could be built on their platform. I would like to cover one example to better understand possibilities the technology brings to the table.


Startup Grind

The life, work, and tactics of entrepreneurs around the world. Welcoming submissions on technology trends, product design, growth strategies, and venture investing. Learn more about how you can get involved at startupgrind.com.

Thanks to Jonas Matkevicius.

Lukas K

Written by

Lukas K

Blockchain researcher and developer | CTO and Co-Founder at Cryptodus | Previously Wepower.Network

Startup Grind

The life, work, and tactics of entrepreneurs around the world. Welcoming submissions on technology trends, product design, growth strategies, and venture investing. Learn more about how you can get involved at startupgrind.com.