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I have been interested in projects who are building oracles based system for blockchain [Links: 1, 2, 3, 4]. I did not want anything associated to Ethereum ecosystem and wished to see oracles on Komodo Platform.
Benefit of Fundamental CC contracts is that alone they might not be of significant, but combined used of them with a custom solution made by 3rd party devs can make plethora of solutions.
If you wonder how this is useful from the point of view of a everyday joe, you might not even need to understand it. In simple words, this modal of Smart Contracts development is not exactly anyone have seen in Blockchain industry. From a dev point of view, keep reading…
In NXT it’s been possible that any dev could use the underlying blockchain to create all sort of different Smart Decentralised Apps (DApps), but since it being the beginner in totally PoS blockchain & the core devs giving the examples the core devs made the primary smart contracts/DApps.
NEM/XEM followed the same way and made their own different blockchain project with different capabilities and properties.
My point is new devs or normal joe shouldn’t confused to think that that’s the only possible way to make DApps on such platforms.
Komodo Platform in it’s early form known as @SuperNETorg made an extended Decentralised Exchange (DEX) based on @NxtCommunity Asset Exchange. It is called “MultiGateway” [Link: 1, 2], which allowed doing Decentralised Exchange of almost any Bitcoin based coin to trade on NXT ecosystem using “Proxy Tokens”.
And later this “MultiGateWay” (MGW) technology also adopted by Waves Platform in their codebase. I’d say the best of MultiGateway tech ideas used in Waves made it the better version of Proxy Tokens based DEX than SuperNET’s MultiGateway DEX.
To talk further on MultiGateway tech we have it’s even improved version of Proxy Tokens based DEX already available now in Komodo Platform thanks to the Gateway Crypto-Conditions Smart Contract coded by jl777 in last few weeks.
I read in a chat somewhere where James (jl777) expresses that the level of core code [Gateway CC] which you can expect from a full team which has to devote hours of work expected to be in time frame of an year or months, jl777 done that in weeks doing bunch of other work.
Means, from a blockchain smart contract dev point of view CryptoConditions Smart Contracts are that much easy to make, and yet offers far better security and efficiency as compare to other smart contract platforms in industry.
To my knowledge when I joined Blockchain space back in 2014, @SuperNETorg was the ONLY project who had a working quality DEX. I being a developer assess the projects based on the code, capability of it’s developer team, and their accessibility to provide support to developers and users.
That was more than enough for me to have confidence in jl777 and team, where others were in huge doubt and skeptic if whatever the @SuperNETorg was promising will ever be delivered. To me being able to fiddle & test the in development code was promising which helped me build confidence in the SuperNET project and kept me with it till day throughout the transition of Komodo Platform.
In all this development (NXT days of 2014 - 2015) ETH delivered the live mainnet (30th July 2015) and as expected we saw the history being made in even different level of Smart Contracts. Thanks to @NxtCommunity I learned what not to expect, what to expect, what to do with such smart contract platform crypto currency and what not to do. I only hodled ETH tokens and never bought any #ERC20, except The DAO, which I sold as soon as I got the chance to recover after the incident what I had put in. Got some ETH back at tiny bit of loss.
Ethereum’s model of smart contracts is similar but still different to NXT and NEM and WAVES, but since devs were exposed to more help material with Ethereum with such nice and huge developer community, obviously it got more different level of smart DApps at it’s inception.
If anything you want to compare with Ethereum’s smart contract and Komodo Platform in the very basic terms what you can expect from an example ERC20 smart contract is what a “Fundamental CC Contract” is.
“Fundamental CC Contracts” are the most basic forms of contracts which in combined form facilitates the 3rd party devs to build custom smart DApps with independent governance capable blockchain, totally independent to Komodo Platform blockchain. No Strings Attached.
These Crypto-Conditions contracts examples and the basic codebase is a getting starting point for new 3rd party developers. The developers can think based on these CC smart contracts and extend these smart contract’s capabilities.
Komodo Platform is NOT limited to just these Fundamental CC Contracts, but beyond.
What does Fundamental Crypto-Conditions Smart Contracts Offers
To clear further on “Fundamental CC Contracts”, the purpose of these contracts is to allow developers to give most required basic functionalities of Smart Contracts which they can get just by issuing RPC commands instead of manually coding the smart contract for basic things.
Of course this will not cover absolute all the things required by many sort of DApps, but it will give the easiness to get started with smart contract platform like Komodo Platform.
As the needs arise this “Foundational CC Contracts” set can be further extended with more CC Contracts to cover the needs of more contracts which could be common to others.
That is the reason James Lee (jl777) is creating the most basic forms of these Crypto-Conditions smart contracts.
The amazing thing is once these “Fundamental CC contracts” set is complete, any new dev will mostly get what they need just from the RPC calls. For a new blockchain developer like myself, that’s the ultimate thing I can expect.
For me Komodo Platform is a heaven in Blockchain developer space. 🙂
But there are independent parts of these DApps which any 3rd party developer can use to make their custom DApps.
Or similarly just start fresh and make a totally new smart contract and build using that. On Ethereum the famous example would be The DAO or Augur from early projects.
So there is such flexibility in almost all these smart contracts capable platforms.
In these terms we only witnessed the first few smart contracts made by the core devs of Komodo Platform so far. jl777 says that he’ll make basic examples of such Crypto-Conditions Smart Contracts and expect the 3rd party developers to learn and extend them based on their needs.
Not just in my opinion, but in reality a developer would have never witnessed such smart contract platform as Komodo Platform. You can not exactly compare it with Ethereum or others.
You have to empty your glass from previous learning and and start with fresh mind to appreciate the new level Smart Contracts architecture that you will explore and find in Komodo Platform.
If you are some developer/entrepreneur and you are aware of Ethereum’s shortcoming, you should do yourself a favour and checkout Komodo Platform docs at https://docs.komodoplatform.com/. It is not just different but to my opinion ultimate solution which you want and expect from a Smart Contracts platform.
You will definitely not regret moving to or staring with Komodo Platform.
Direct Message Komodo Platform to get in touch to learn more about Komodo Crypto-Conditions Smart Contracts and how you can move to it from other smart contract platforms today.
Amazing possibilities of Crypto-Conditons based Smart Contracts
Let’s clear a bit on this screen shot.
Crypto-Conditions Smart Contracts are that much powerful that a Compiler or Interpreter can be coded in a Crypto-Conditions smart contract. It can act like either a Java interpreter, or like a C language / C++ compiler. But such Crypto-Conditions contracts has to be coded much carefully.
So if a solidity smart contract Compiler/Interpreter is coded in a Crypto-Conditions you can expect the same code of Ethereum smart contract be able to run on Komodo Platform, without any change done to that solidity code!
I do not know how hard or easy coding such Crypto-Conditions Smart Contract will be. I guess hard.
I know and understand from the NXT days that people limit their mind to think that whatever the core team has provide in smart contracts DApps is the only level of capability that platform provides, and not more.
It’s been bothering me from some days/weeks and that’s what I wanted to convey in my tweets. To not think of Komodo Platform to just the limits of what Fundamental Cryopto-Conditions Smart Contracts are giving, but a lot more.
Extra Useful Reference Links
Related to Crypto-Conditions