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Take away

  • Smart contracts in Tezos are implemented in the Michelson language which is a stack-based strongly typed language.

  • Michelson includes:

    • stack manipulation instructions: DUP, DIP, SWAP, DROP, DIG, DUG, IF, LOOP, ITER, CAR, CDR, ADD, SUB, MUL, EDIV, COMPARE ...
    • data structures instructions: MEM, GET, UPDATE, MAP, SOME, NONE, SIZE, PAIR, UNPAIR ...
    • specific smart contract instructions: SELF_ADDRESS, CONTRACT, NOW, TRANSFER_TOKENS, SET_DELEGATE, CREATE_CONTRACT, BALANCE ...

  • The entrypoints of a smart contract define the possible invocations of this smart contract.

  • The storage of a smart contract is a persistent memory space associated with the smart contract and contains the data of the smart contract.

  • The code of a smart contract is a sequence of Michelson instructions that can be invoked. The execution of this sequence of instruction takes a parameter (entrypoint) and the actual storage, and returns a new storage (and optionally some operations for other contracts).

  • The invocation of a smart contract triggers the execution of the code of the smart contract which can modify the storage.

  • octez-client allows to typecheck and simulate the execution of Michelson scripts.