Quick Understanding of the UOS Contracts, Transactions and Tokens
UOS is a sidechain of Ulord. It is both independent and interrelated with Ulord. The independence relies on the fact that UOS and Ulord adopt different consensus and trading systems. The interaction is reflected in the token source of the UOS system, which eventually flows to Ulord.
To understand UOS, we need to make clear of the UOS contract, transaction, and token system. So what is contract? Is the transaction a money game or a blockchain puppet? Is the token a cutting knife or a sign of wealth?
In this article, I will explain these confusing concepts in UOS: contracts, transactions, and tokens.
What is contract? What is transaction?
We compare UOS to a society, then the largest unit that constitutes UOS is contract, and the smallest unit is transaction.
A contract is a program deployed UOS that can be deployed by any user of UOS. Our system user: “uosio.unio”. On the launch of the mainnet, the working staff deploys a program for him to manage the exchange between UOS and UT, and this is alliance contract.
For example, Xiaoming wrote a program with two functions, plus and multiply. This program is compiled with the UOS contract compiler and uploaded to Xiaoming, a user of the UOS chain. Xiaohong, another UOS user can call Xiaoming’s contract. We refer to the uploaded process as deployment. The process of Xiaohong’s calling contract is called transaction.
In short, a contract is a program that is bound to a user on UOS, and a transaction is a call by a user. In addition, the contract defaults has a subject, which means whose contract. The procedure before the contract is not deployed is called the contract procedure.
For example, the contract program is only called Xiaoming’s contract when it is deployed on the the user of Xiaoming. Do you understand now?
How was the token born?
What is transaction? Some people may ask how the UOS token was born? Can I issue tokens myself?
Just like online banking, cash is a string of data in the database. The UOS token is actually a data record in the contract. According to the contract account, it can be divided into system token and project token.
When UOS is online, the staff will manually deploy the corresponding contract to the UOS system account to initialize UOS, such as the system contract deployed on the uosio user and the alliance contract deployed on the uosio.union user. They are like public infrastructure in the UOS community, providing protection for the operation of UOS. And we will deploy token contract on uosio.token account. The system token “UOS” is controlled by the contract of the account “uosio.token”, so the uosio.token account can be called “UOS Bank”.
Project tokens are the “project tokens” issued by companies, teams, and individuals by deploying token contracts or calling other people’s token contracts. Anyone can issue project tokens, because anyone can deploy a token contract. However, because the account of token contract is different, users can trace token back to the issuer.
I hope this article will give you some insights into UOS, transaction and token.
