Tech Update Week 37: Focus on Smart Contracts Design

The focus for this week was mainly on the smart contracts design. With George on board (Plutus pioneers of the first cohort know him well), we have gained a lot of knowledge. Especially the capability of challenging ideas and approaches with a high quality is a great benefit.

This led to two approaches. Both are very appealing but which also have certain trade-offs. We need to finalise some parts of the two protocols and then decide, with a business perspective in mind, which one is better. For Cardax and for our users. For sure, we will describe our approach in detail once we have finished it.

Side note: Both approaches are handling the “concurrency issue” which recently was discussed in length. Since this issue is nothing new and unexpected, but well known for any Plutus developer. Beside this, the approaches diverge in which participants are preferred: Either heavy traders or one-shot orders. Nevertheless, both participants should have no real draw backs.

We started to setup everything in order to be able to tackle the technical blockers (most uncertain parts) and to be prepared for checking against hard blockchain parameters. I.e. if the contracts are feasible and up to which limits. E.g. the transaction size is one limit, another are costs for script execution.

Along with the design of our DEX smart contracts, a lot of patterns evolved and were sketched, which could be reused for the next version of Cardax or for other products.