Smart Contracts (2)

• Dumb and simple is safer than smart and complex.
  • “Safer” in that it is less likely to do something weird or random that you don’t expect.
  • Or at least: dumb and simple actors are more likely to be forgiven in unforeseen misfortunes. (Things can go wrong in an unfortunate configuration of simple things.)
• If versatile contracts on blockchains must be audited thoroughly because they can do so many things and bear responsibility thus much, then how can the cost of ensuring security be assessed within the blockchain? The cost is there but is hidden because it is externalized.