SMART CONTRACT STATE MACHINE – CROWD – FUNDING

1. so let us look into one example where you can represent a smart contract as a state machine

2. so in a crowdfunding platform you have a set fund set of people who have certain funds available who are agreed to donate the fund if certain jobs are being done

3. so they are at the project proposals which are coming from the proposals

4. so the proposal proposes certain jobs certain projects and if certain funding agencies are funder they find that particular proposal interesting they may found for the proposal in a collective way

5. so that is a kind of crowdfunding platform like a Kickstarter with the example we have looked something back

6. so let us look into that how we can represent a crowdfunding application in the form of a state machine

7. so here the system has an initiation state where some users they have submitted certain proposal now that proposal once this someone likes this proposal they may transfer the money

8. so here say Bob has transferred the committed money to the system

9. so you are reaching to a state that Bob has donated the money similarly, if Alice has transferred the committed money

10. you are reaching a state that Alice has donated the money now after bob has donated the money

11. Alice may donate the money after that or it may happen that Alice has first donated the money

12. after that bob has donated the money now when both of them has donated the money either in the order of Bob Alice or Alice Bob

13. you have the money available in the system now once you have the money available in the system you can initiate the job and say there are two jobs that need to be executed but there is no specific sequence in which the jobs need to be getting executed

14. so it may happen that the job one is first to complete and then the job two is complete so then you follow this path to make both job one and job to complete or it may happen that the job to first get finished

15. after that job one is get finished so in this particular order you may again have this job one and job to get complete

16. so once both the job is done then your smart contract will transfer the money from the funders which are here the Bob and Alice to the project proposal say if Eve has transferred that project proposal the money will be transferred to you

17. so that way you can represent a smart contract in the form of a state machine in it any algorithm you can represent it in the form of a finite state machine.