Protocon Announces 'Contract Model', an Alternative Technology to Smart Contracts

[ad_1]

SEOUL, South Korea, April 06, 2022 (Globe NEWSWIRE) — Protocon, a internet 3.-based mostly Layer 1 blockchain enhancement project, declared a yellowpaper relevant to “Contract Design,” an different know-how to sensible contracts, on the March 31st.

Good agreement is a technologies that was to start with proposed by Nick Szabo in 1996 and recognized in Ethereum and is a agent methodology for establishing blockchain programs.

Ethereum’s intelligent agreement is a technologies that brings together digital equipment with blockchain to empower programming for standard reasons, and just about all mainnets now undertake this strategy.

It is no exaggeration to say that DeFi and NFT have been in a position to grow to be preferred owing to sensible contracts. However, intelligent contracts are resulting in a variety of varieties of incidents, these types of as the Ethereum Dao hacking, the DeFi hacking, and Solana’s Wormhole hacking incident that took position a short while ago. In particular, the multi-billion-greenback DeFi and NFT marketplaces have lately been managed by sensible contracts, which ironically raises problem about the vulnerabilities of sensible contracts.

Improving the weak spot of clever contracts has been a major subject matter of discussion in the blockchain industry for a prolonged time.

The Deal Model proposed by Protocon is the introduction of Design-Dependent Method Engineering (MBSE), which is staying applied to the enhancement of systems that call for high reliability and protection, this sort of as plane and armed service weapons, to the blockchain business. Product-based mostly enhancement methodology is a theory wherever unit designs are formulated firmly and safely and blended like Lego to make a advanced construction.

The Agreement Model formulated by Protocon is fundamentally composed of a Unit Deal Design and a Composite Contract Model.

The Device Agreement Design is a device program that delivers basic features and makes certain a large degree of effectiveness and protection because it is dispersed about the network by a consensus of nodes soon after strict functionality and stability screening.

The Unit Agreement Product consists of 3 sets and three features. The three sets depict the enter, output, and point out of the product, and the 3 features characterize the enter transform purpose, condition transition operate, and output functionality (, , ), respectively.

The Unit Agreement Design can operate as an impartial functionality by itself and is also utilised as a component of the Composite Deal Design.

Construction of Device Contract Model (Reference: Protocon Yellowpaper Part. 1)

A Composite Agreement Model is produced by combining the Device Agreement Design registered in the community. For case in point, when applying NFTs as mortgage collateral, the 3 Device Deal Models NFT, Collateral, and Mortgage are put together to give new companies. This also offers a major degree of efficiency and basic safety for the reason that it is made up of codes that have now achieved efficiency and safety criteria.

The technological discrepancies in between the Agreement Product and the clever deal are as follows.

Initially, efficiency and protection are assured due to the fact a Composite Agreement Design can be easily structured by configuring a Unit Deal Model that has been verified in advance.

In addition, new contracts can be fashioned by combining these verified versions just after a variety of Device Agreement Types are formulated for every single reason, so that blockchain software capabilities can be produced comprehensively with GUI applications devoid of difficult programming processes in the potential.

In addition, smart contracts are stored in various blocks and executed separately for each and every challenge, but contracts with the similar functionality in the Deal Product are called in a single unit design without the need of repetition, enabling efficient use of all computing sources.

2nd, it has fantastic functionality with the baremetal computing composition that does not use a digital machine.

In general, digital devices operate plans on an emulator by positioning an additional OS on prime of the OS, so the overall performance and processing velocity are appreciably diminished. On the other hand, considering the fact that the Contract Model operates instantly on the OS, the method composition is uncomplicated, and the processing general performance of the components can be utilized 100%. This allows environmentally welcoming community procedure whilst processing far more data with less means.

Third, it is programming language independent. Most blockchains use specific programming languages, such as Ethereum with Solidity, Solana with Rust and Cardano with Haskell. Nevertheless, it normally takes a considerable total of time for builders to grow to be familiar adequate to think about all the security features of a certain programming language, so human faults are quite probably to manifest in the approach when employing an unfamiliar language. Nevertheless, in the Agreement Product, only the specification of the Unit Agreement Model requirements to be applied appropriately, so it can be designed independently without having further mastering of a specific progress language.

In other text, a new Contract Product can be produced by developing it in the language the programmer is most acquainted with. Thus, the Agreement Model delivers extra steady and dependable wise agreement functions, together with all features supported by sensible contracts.

The Protocon staff has already carried out and analyzed the vast majority of the features using blockchain these kinds of as token product, NFT design, data design, and DID design with the methodology of Agreement Design, and is at this time running a testnet to conduct verification and improvement do the job.

Protocon is shorter for Protocol Financial state Network, a blockchain project to create Internet 3. infrastructure engineering. The mainnet has been developed considering the fact that 2019 and is scheduled to formally function in August this yr. The yellowpaper portion 1 is the first result of the technological innovation pursued by the Protocon group, and the team will subsequently unveil yellowpaper aspect 2 relevant to facthash engineering, which drastically enhances cross-chain similar functionality and security by enhancing info verification between heterogeneous networks.

For additional facts about the Protocon challenge, pay a visit to – https://protocon.io/

For more details about the Yellow Paper, go to – https://little bit.ly/3uaOgQH

Social Backlinks

Telegram: https://t.me/Protocon_Official

Twitter: https://twitter.com/protoconpen

Medium: https://medium.com/protoconpen

Youtube: https://www.youtube.com/c/Protocon

Media Call

Model: Protocon

Get hold of: Jake Lee, CMO

E-mail: [email protected]

Web-site: https://protocon.io/