Description
The diagram shows the process of how a self-executing code, known as a smart contract, works. The smart contract is represented by the rectangular box on the left, labeled "SOURCE CODE". It is a computer program that automatically facilitates, verifies, and enforces the negotiation or performance of a contract. The code is stored on a computer network, often a blockchain.
The second box from the left, labeled "TRANSPARENT", represents the idea that the terms of the contract are publicly available on the ledger, which is a decentralized, digital database. This allows anyone to see the terms of the contract and ensures transparency.
The third box from the left, labeled "BLOCKCHAIN", represents the underlying technology that enables smart contracts to be stored on a distributed and decentralized network. When an event triggers the smart contract, such as the redemption of a ticket, the execution of the contract is automated, eliminating the need for intermediaries.
The fourth box from the left, labeled "PAYMENT", represents the final step in the process. After the contract is executed, the accounts of the parties involved are updated and the amounts are transferred automatically based on the terms of the contract. The box contains an image of money being transferred, indicating the financial aspect of the contract.
Overall, the diagram shows the various components and steps involved in the process of how a smart contract works, from its code to its execution and payment.
Keywords
tikzpicture, node, draw, rectangle, coordinate, edge, label, above, below, left, right.
Source Code
\documentclass[svgnames]{standalone}
\usepackage{lmodern}
\usepackage{tikz}
\usetikzlibrary{positioning}
\usepackage{xcolor}
\definecolor{lightgray}{rgb}{0.83, 0.83, 0.83}
\definecolor{lightblue}{rgb}{0.68, 0.85, 0.9}
\definecolor{brandeisblue}{rgb}{0.0, 0.44, 1.0}
\definecolor{darkpastelgreen}{rgb}{0.01, 0.75, 0.24}
\definecolor{electricgreen}{rgb}{0.0, 1.0, 0.0}
\usetikzlibrary{fadings,shapes.arrows,shadows,calc}
\tikzset{bubble/.style={rectangle, draw=gray,rounded corners,fill=#1,align = flush center,minimum height=1cm,minimum width=1.25cm}}
\tikzfading [name=arrowfading, top color=transparent!0, bottom color=transparent!95]
\tikzset{arrowfill/.style={top color=OrangeRed!20, bottom color=Red, general shadow={fill=black, shadow yshift=-0.8ex, path fading=arrowfading}}}
\tikzset{arrowstyle/.style={draw=FireBrick,arrowfill, single arrow,minimum height=#1, single arrow,
single arrow head extend=.2cm,}}
\begin{document}
\begin{tikzpicture}[
bigcircle/.style={ % style for the circles
text width=1.6cm, % diameter
align=center, % center align
line width=0.5mm, % thickness of border
draw, % draw the border
circle, % shape
font=\sffamily\footnotesize % font of the year
}
node distance=10mm and 16000mm % vertical and horizontal separation of nodes, when positioned with e.g. above=of othernode
]
\node [rectangle,draw=lightgray!80, line width=2mm, inner sep=0pt,rounded corners,minimum width=1.6cm, minimum height=2.45cm,label={below:SOURCE CODE}] (contractCode) {\includegraphics[width=2.1cm]{if_source_moc_7003.png}};
\node [rectangle, line width = 0.01 mm, draw=black, below = 0.5cm of contractCode, minimum height=1.45cm,text width=3.85cm] () {self-executing code that faciliates agreement \\ between parties};
\node [rectangle,draw=lightblue!80, line width=2mm, inner sep=0pt,rounded corners,minimum width=2.2cm, minimum height=2.45cm,right= 1.75cm of contractCode,label={below:\textsc{TRANSPARENT}}] (handshake) {\includegraphics[width=2.1cm]{handshake.png}};
\node [rectangle, line width = 0.01 mm, draw=black, below = 0.5cm of handshake, minimum height=1.45cm,text width=3.85cm] () {terms of contract are available on the public ledger};
\node [rectangle,draw=brandeisblue!80, line width=2mm, inner sep=0pt,rounded corners,minimum width=2.2cm, minimum height=2.45cm,right= 1.75cm of handshake,label={below:\textsc{BLOCKCHAIN}}] (blockchain) {\includegraphics[width=1.9cm]{blockchain.pdf}};
\node [rectangle, line width = 0.01 mm, draw=black, below = 0.5cm of blockchain, minimum height=1.45cm,text width=3.95cm] () {event triggers the \\ execution of the contract (redeeming a ticket)};
\node [rectangle,draw=darkpastelgreen!80, line width=2mm, inner sep=0pt,rounded corners,minimum width=2.2cm, minimum height=2.45cm,right= 1.75cm of blockchain,label={below:\textsc{PAYMENT}}] (payment) {\includegraphics[width=1.9cm]{transferMoney.png}};
\node [rectangle, line width = 0.01 mm, draw=black, below = 0.5cm of payment, minimum height=1.45cm,text width=3.85cm] () {accounts are updated, parties recieve amounts based on contracts};
% Arrows
\node [arrowstyle=1.25cm] at ($(contractCode.east)!0.5!(handshake.west)$) {};
\node [arrowstyle=1.25cm] at ($(handshake.east)!0.5!(blockchain.west)$) {};
\node [arrowstyle=1.25cm] at ($(blockchain.east)!0.5!(payment.west)$) {};
%\node [arrowstyle=2.5cm,xshift=-0.1cm,yshift=-2.5cm] at ($(sa.south)!0.5!(lc.south)$) {git commit};
%\node [arrowstyle=3.5cm,xshift=-0.1cm,yshift=-3.5cm] at ($(lc.south)!0.5!(rc.south)$) {git push};
\end{tikzpicture}
\end{document}