Bitcoin, Crypto currency, Blockchain

Perun: Secure Smart Contracts for Ethereum

2bd312bc98e6c64bfd49021ae232f68f - Perun: Secure Smart Contracts for Ethereum

A small research group from Warsaw, has presented a White Paper setting out a scaling solution for the Ethereum block Chain. Significantly more complex Smart Contracts are possible, which guarantee a higher level of security. Even Ethereum founder Vitalik Buterin interested in the proposals of the developer.

The direction in which the new project is to move is indicated by the naming. Perun is the Name of the Supreme God of Slavic mythology. Equivalent of Zeus, Jupiter and Odin, he is in addition to his role as the father of all gods, also the God of storms, of thunder and of lightning. The lightning metaphor is a sign with the fence stake, the Bitcoin-Core-Developer-Team uses this in its scaling solution Lightning Network.

What, exactly, is supposed to bring to Perun?

Thus, the measuring lath is placed and the claim of the research team formulated. From the published White Paper, what the developers have projects with Perun. Therein, Perun is described as a log-System for the construction of virtual payments and State Channel Networks.

Payment channels will be described as an efficient method for the implementation of the affordable Micropayment transactions in crypto-currencies. In contrast to the conventional On-Chain transactions, payment channels have the advantage that they allow a virtually unlimited number of transactions between the parties to engage without the Blockchain. Perun wants to introduce the Channel Virtualization a new technology that allows the use of virtual payment channels via so-called multi-state Channels.

Thus, the Problem of the scalability of Smart Contracts is to be addressed. So Off-Chain solutions are an important approach to extend the use of highly complex Smart Contracts. The Perun-Team preferred option State Channel Networks. Beyond mere Off-Chain transactions in addition to the State Channel Networks allow the execution of arbitrary complex Smart contracts. In their preparation, the members of the team provide these solutions, and provide formal security definitions and proofs, to the value of the Protocol.

Ethereum developer Buterin is curious

The proposals of the Perun-Developer-Teams not meeting in the case of Ethereum on deaf ears. In fact, they address the real problems of the Ethereum network, specifically in terms of Smart Contracts and their safety. Errors in the coding of a Smart Contracts on the Ethereum block Chain can lead to serious damage. According to the importance of a greater focus on safety.

Also Vitalik Buterin spoke to the Perun-White Paper and replied to the Team. In the process, he agreed to the researchers, “an excellent job” and expressed his hope that the solutions bring out the Ethereum Community. He also inquired whether there were already Teams of developers working on an implementation of the Perun Protocol. This question is for the success of Perun is crucial. Whether and to what extent this solution will prevail proposal for the scaling of Ethereum Smart Contracts to a wide area, the coming months will show.

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