Are the Capabilities of Smart Contracts Overblown?

Smart contracts are discrete computer program units, which are deployed inside blockchain network nodes. Once they are ready for deployment, the one-way hash value of the code is calculated and digitally signed. The one-way hash value, its digital signature, and the code itself is replicated out to the network of participating blockchain nodes. As part of the deployment process, each node first verifies the one-way hash digital signature and if it checks out okay, it installs the code locally. The node then waits for the smart contract ‘invocations.’

Since the smart contract code integrity is protected by its one-way hash value and the digital signature of its author, nobody can change it once it has been deployed. In a way, it is very similar to the tamper resis ...

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