In this study we designed a time/space environment friendly information construction and algorithms to store and query pharmacogenomics within a smart contract in a non-public Ethereum PoW fork blockchain. The information was saved on a small blockchain community with only 4 nodes. Each information point was inserted to our sensible contract as a single transaction. All knowledge needed to be stored on-chain. No off-chain information storage was allowed.

Decentralized autonomous organizations (DAOs): DAOs are owned and governed collectively by their members, and so they operate based mostly on smart contracts. They’re internet-based, and they’ve in-constructed treasuries that can not be accessed without being granted permission by the group. They make choices by proposals and voting to ensure that everybody within the group can air their opinions. There is no CEO or CFO, and the rules that govern their spending are a part of the DAO code. The codes and all their activities are transparent, and so they operate a democratic system. The votes which are tallied routinely are required before any change could be carried out. Examples of DAOs are charity organizations, ventures, freelancer networks, and many others.

At a very basic level, you can think of a sensible contract like a kind of vending machine: a script that, when called with sure parameters, performs some actions or computation if sure circumstances are satisfied. For example, a easy vendor smart contract could create and assign possession of a digital asset if the caller sends ETH to a particular recipient.