Smart contracts in the Ethereum network are going to be abstracts that can operate on a prominent level while still being compiled inside of an EVM bytecode before being sent over to the Ethereum block chain so that they can be executed. Many smart contracts are going to be written by Mutan, LLL, Serpent, and Solidity.
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Each programming language that you find on Ethereum is going to be similar to languages like Python or JavaScript. There has been research that has been going on for Ethereum to create a new language known as Viper. This language is going to be like Python but it is only going to work with Ethereum.
Therefore, you could not use it outside of Ethereum like you would be able to use Python outside of the program. Any contract that is written on the Ethereum platform will end up being stored publicly on the block chain.
One of the biggest downsides is that there are going to be issues in performance with the nodes when it comes to calculating the contract in real time along with the speed being lowered. Ethereum engineers have been working on the sharding of calculations but there has not been a solution found yet. But, as of January of 2016, the protocol was made to where twenty-five transactions a second could occur.
In September of the same year, Buterin presented the idea to increase the program’s scalability. Ethereum’s platform has several processes that have been put into use.
It is often described as the software that is shared and moved to where it is tamper proof. Since the platform is decentralized and works with an autonomous organization that is decentralized and various smart contracts, there are at least a dozen other functioning applications that have been built into the platform.
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