- In order to enable consumer-grade “hybrid applications,” smart transactions will open up a so-called “time machine”—a method of creating smart contracts that react to future events.
- The project is the result of research conducted by Boris Mamlyuk, Anuj Das Gupta, and Vlad Zamfir, three Ethereum pioneers.
Vlad Zamfir, a pioneer in Ethereum research, is starting a new project called Smart Transactions that will open a “time machine” and allow for “hybrid applications.” To put it briefly, conditional future events will be considered by the STXN system.
Because it gives users access to the best of both the web and cryptocurrency and gives developers access to a far more dynamic feature set than was previously possible, STXN may be seen as a leveling up of the entire ecosystem.
By allowing smart contracts to run in response to dynamic, unknown future events, the system will significantly increase the range of protocols and applications that can be developed on the second-largest blockchain.
In addition to more “relative” criteria like whether one asset is worth more than another, this also involves executing based on whether assets — from tokenized U.S. dollars to cryptocurrencies — reach a specific value or market capitalization level.
Nearly a mirage is the World Computer. Even while Ethereans talk a lot about decentralized storage and other consumer applications, using a blockchain feels like outdated technology.
As an illustration, consider CleanApp, an in-house software that allows users to immediately report problems or request services. It then instantly connects these needs with providers, utilizing blockchain technology for trust and verification. Both the Google Play Store and the Apple App Store presently have it.
Since at least 2022, when he gave a presentation on the subject at Devcon Bogotá, Zamfir has been studying smart transactions. In order to supplement its own Smart Transactions feature in May—which could be characterized as a private relay, private sequencer, and private mempool—the startup teamed up with Ethereum development company Consensys in July, which provided funding for additional STXN research.
ConsenSys is assisting us in making sure that this is about improving the Ethereum experience for all users, not just private order flow. He emphasized how crucial it is that Ethereum’s infrastructure continue to be open and decentralized.
With the help of HackVC, Backed, Shima Capital, and others, STXN raised $5.5 million in seed fundraising in June.
For a very long time, we have been working on the World Computer. We are staunch Ethereans.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
