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Is it possible in bitcoin to start a smart contract preloaded with some amount of money. And if some other user is ready to pay to the smart contract a certain amount of money, the smart contract should release the preloaded amount of money in the smart contract to the user who paid to it ?
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Had you seen http://rootstock.io/ ? Keep in mind that the bitcoin script language is not turing complete as the Ethereum VM
I saw that. But is it possible with the present implementation. – jgm – 2016-06-15T00:36:12.697
As you can read in the bitcoin wiki the scripting language was not inteded be for smart contracts.
Also, you can read this and this questions related the usage of smart contracts in XBT and ETH.
So, in the end, the answer will be NO
This appears to be almost exactly the same question you've already asked earlier. Is there a particular reason why you didn't update that question, and are asking again?
– Murch – 2016-06-15T07:58:12.897kind of the same, but I wanted to explore the possibility of having a
smart contractwithin the current implementation ofbitcoin– jgm – 2016-06-15T08:47:50.1801I think your confusion is with how smart contracts work in the Bitcoin network. In Bitcoin, smart contracts require involvement from the participants of the contract, and is not simply executed on the blockchain autonomously. Think of 2 lawyers drafting a legal contract. They only need to go to court when there is a problem, otherwise all commuication is between them. The blockchain is the court in this metaphor. It doesn't perform the actions of the contract, it only enforces the rules. The participants still need to be active. – Jestin – 2016-06-15T13:50:29.927