Quote from: JJ12880 on January 25, 2016, 01:41:49 PM

Quote from: MaGNeT on January 25, 2016, 12:03:44 PM

Well, this has been hidden well for me, only learned it exists from the Factom topic.

Can anyone give me 5 real life use case examples for this coin?

I can give you 4, off the top of my head. There will be more as I can add more features to the SmartChain. Feature 1 is avalibel in the existing client linked in the ANN. Features 2-4 are in Beta testing, and should be ready very soon, code gods willing.

1) Bob wants to receive Radium coins, but does not want to look up his address every time he wants to receive a payment. Bob Can use the SmartChain to link his address to his username "Bob", and then customers can simply use the SmartChain to lookup bobs address directly from the client. In effect, we have created a username-address "phone book".

2) Bob wants everyone to know that he predicts Carolina will win the Superbowl. Bob makes a text note, saying "my name is bob, and I predict Carolina will win the Superbowl" and records it in the blockchain. If Alice doubts bob made that prediction, Bob tell Alice to look at the note in the SmartChain. Alice can see exactly when Bob made the note, so there is proof of Bobs prediction.

3) Bob makes some software, and posts it online. He also records the file hash in in the blockchain with the SmartChain client. Alice can now download Bobs software, and use the SmartChain to check it against the hash that bob recorded. If it is the same file, the file will verify, and Allice can rest assured the software she downloaded is the original software from Bob.

4) Tom hacks Bobs website where he is offering his software for download, and replaces bobs software with a virus. Alice downloads the virus, and uses the SmartChain to check the hash of the file. Because the file is different, the SmartChain will tell Alice it does not recognize the file, and Alice will know that something is amiss.

Let me insert a stupid idea here that I just had: Would it be possible to use this with public keys from asymmetric encryption like PGP? The problem with PGP keyservers is that anybody can insert public entries that say "Email address X has key Y", even if you are not the owner of the given address. This is in fact a central problem in current public key encryption scenarios (authenticity). The most common solutions nowadays are certificates (requires a central authority) and web of trust (which has many problems on itself, practically and theoretically).

Now Bob could simply say "my user name is Bob" and insert the pair into the smartchain. Now if Alice wants to send bob an encrypted message, she can look up that pair given the identifier "Bob" and the current smartchain.

If that works, you can of course also use it to encrypt access to any kind of servers as an alternative to current SSL implementations, as well as pseudonymous p2p networks.