Old Skool Webcomic

Effectively Permanent

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Comic Transcript

A: Well, I guess that’s all there is to know about–

B: We still need to talk about smart contracts.

A: Of course we do.

B: It’s important! Smart contracts are used to manage how NFTs are bought and sold!

A: … fine. How do smart contracts do that?

B: Well, let’s say you’ve created an NFT and you want to sell it. You’d create a smart contract that outlined the terms of the sale, and both the buyer and the seller would use it to complete the transaction.

A: Isn’t blockchain supposed to do that?

B: It does. The smart contract is on the blockchain, so the terms are effectively permanent.

A: Effectively permanent?

B: Well, until someone figures out how to break blockchain encryption. You’d need quantum computers to do that.

A: Don’t we have quantum computers now?

B: We don’t talk about that.

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