Ethereum founder Vitalik Buterin during a discussion on Twitter about the legislation concerning cryptocurrencies expressed regret about using the term “smart contract” in Ethereum.
To be clear, at this point I quite regret adopting the term “smart contracts”. I should have called them something more boring and technical, perhaps something like “persistent scripts”.
— Vitalik Non-giver of Ether (@VitalikButerin) 13 Oct 2018
“Honestly, now I very much regret that we have adopted the term “smart contract”. I had to call them more boring and technical. Perhaps something like “permanent scripts”, – wrote the acne Buterin.
In response Buterin lead developer of Ethereum Vlad Zamfir noted that he does not regret the choice. He added that it was a good lesson for the whole team Ethereum. Zamfir also wrote that he likes the term “stored procedure”.
I like “stored procedures”
But I for one don’t regret the terminology, it has been a great learning opportunity for everyone 😁
— Vlad Zamfir (@VladZamfir) 13 Oct 2018
Note, the term “smart contract” proposed in 1994 by well-known cryptographer Nick Szabo. He described the smart contract as a computer Protocol, which is based on the mathematical algorithms independently carries out transactions with full control over their implementation. Some principles of smart contracts was inherent in the bitcoin Protocol.
The wide practical use of smart contracts received with the emergence and development of the Ethereum project. In 2013, the future founder Vitalik Buterin came to the conclusion that bitcoin is poorly suited as a base Protocol for smart contracts because it was not originally designed for this task. Subsequently Buterin decided to create from scratch the most suitable for the smart contracts Protocol.
ForkLog previously reported that acne Buterin revealed information about the size of his Ethereum-state.
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