Lightweight Smart Contracts 2.0 are deployed on the Ignis blockchain of the Ardor Platform and solve serious shortcomings and vulnerabilities of the common smart contracts that popular blockchains are still trying to fix.
This means Smart Contracts on Ignis are ready for your business or digital application (dApp) now. Combined with more than 12 transactional features built into the blockchain and more than 250 APIs available, Lightweight Smart Contracts 2.0 substantiate the reputation of Ardor Platform as a true Blockchain-as-a-Service.
You don’t need to learn a new programming language to get started. Lightweight Smart Contracts 2.0 are written in the very popular Java language. If you are familiar with smart contracts and ready to get started, find the technical information you need on the Ardor Learning Hub.Write a Smart Contract
Recently many shortcomings and vulnerabilities of well-known smart contract frameworks have been exposed and render them unreliable as reliable tools for mainstream business use. Some of the problems have been identified in the following list:
Common smart contracts on well known blockchains have experienced these vulnerabilities and the result has been the loss of user funds or circumstances where the funds become unavailable. Lightweight Smart Contracts 2.0 solved these problems and provide easy to use methods to create and execute smart contracts on the Ignis blockchain of the Ardor Platform.
Lightweight Smart Contracts on the Ardor platform offer a new approach to improve the common smart contract vulnerabilities and shortcomings. These new “stateless” contracts are written in Java, allowing developers to automate business processes on the blockchain in a well-known coding language, while leveraging 250+ APIs to launch digital assets, marketplaces, voting systems, cloud storage solutions, messaging applications, and more. The issues of first-generation smart contracts, lightweight contracts address those issues of security bugs and broken code, transaction fees, integration with oracles and external systems, and privacy are addressed with these unique features:
Lightweight Smart Contracts are deployed on individual, selected nodes on the blockchain network, with optional verification and approval nodes reproducing results to ensure transparency and fairness. This provides a significant level of confidence in the output transactions of Lightweight Smart Contracts. This is a completely new approach and the question is asked “What happens if a user sends a transaction to the node running a “contract runner” – and the node fails to execute the contract?”
The trust problem lies at the core of all systems looking to deploy smart contracts on individual nodes. After several months of research, the developers at Jelurida finally found their solution by repurposing a lesser-known feature deployed on NXT back in 2015, known as phased transactions by hashed secrets. The basic idea is that funds sent by the user are not credited to the contract runner account. Instead, funds are held in a temporary escrow by the blockchain itself until the contract runner executes the contract and the user, after validating the resulting transaction, reveals the secret. As a result, the user transaction and the contract reply transactions are either both approved or both ignored and funds are unable to be permanently locked or stolen.
The ingenuity of Jelurida, the developers of Ardor, Ignis and Lightweight Smart Contracts is evident again as they pave the way with blockchain innovation. While others are still talking, Ardor delivers.