SMART CONTRACTS: THE CYPHERIUM WAY
As the world continues to develop and advance in the information age, the need for automation and automated systems continue to be on the rise.
The clamor for automation has been even louder in the field of decentralized finance and digital currencies. This has, therefore led to the deployment and development of smart contracts.
Initially introduced by Bitcoin and subsequently improved upon by Ethereum, a smart contract is a set of machine instructions stored on the blockchain ledger and executed in the virtual machine. It automatically runs control or document legally relevant events and actions according to the instructions stored on the blockchain ledger.
With smart contracts came the reduction of the need for trusted intermediates, arbitrations, and enforcement costs. It also results in a reduction of malicious, fraud losses, and accidental exceptions.
However, there still exist some irregularities among existing smart contracts blockchains like Ethereum. The Cypherium smart contract system, however, provides solutions to these problems through groundbreaking innovations and technology.
This article will serve to reveal in detail Cypherium’s smart contract and the advancement it brings to the smart contract system through the introduction of Cypherium Virtual Machine.
CYPHERIUM VIRTUAL MACHINE
The introduction of the Cypherium smart contract, as stated earlier, stemmed partly as a result of the fact that the smart contract platforms that came after Ethereum — though offering good prospects — have significantly failed to address the main problems of the Ethereum smart contract.
Cypherium smart contract has, however, scaled above these limitations, offering innovations and improvements which can be said to be considerable upgrades to existing smart contract blockchains.
Some of the features that make Cypherium a better smart contract blockchain is through the introduction of the Cypherium Virtual Machine (CVM). The CVM’s success in improved smart contract provision is as a result of the following features:
Java is a programming language that is platform-independent and used by Cypherium smart contract. Java Virtual Machine (JVM) is the computational environment adopted by Cypherium. Because CVM supports the complete Java instruction set, it can seamlessly integrate with other Java APIs, including Android — the world’s most popular operating system — which is a JVM variation. The JVM has the largest number of device installations world over. It has a large number of third party libraries, which is not the case with Ethereum’s smart contract platform, making them copy and paste codes from open-source software.
Java is also widely used and has the largest developer community in the world. Basing Cypherium smart contract on Java allows for high portability, support for floating-point operations, and easy CPU optimization.
64-bit integer support
Unlike the Ethereum smart contract, which runs on 256-bit integers, the CVM supports the native 64-bit integer processing as well as fixed-point operations according to CPU types. This enables performance optimization and allows more users to utilize the system at its average speed because most computer devices are use processors of 32-bit or 64-bit RISC architecture.
Transparent billing system
The existing Ethereum smart contract platforms have been noted to be very expensive. This is because, as storing data on a blockchain requires a lot of gas, data is often recalculated each time the contract runs. With the continuous execution of the contract, more gas and time are spent to recalculate the same data leading to unreasonable cost. With the CVM approach, only the computing workload, memory consumption, and storage capacity are billed. This is in addition to the fact that CVM can provide external tools for calculation. Users are, therefore, able to calculate the gas cost without accessing the network.
In the case where there is a congested network, users could pay a fixed rating priority fee; the fee prioritized for queuing — it is fixed and transparent.
Computational speeds of different users vary significantly based on the device used. Despite this fact, smart contracts must be handled by blockchains in unified deployment, with unified computing and cooperative consensus processing.
This is, however, not possible in real-life situation due to computational discrepancies. CVM handles this situation by separating the calculation of the smart contract from the consensus of calculation results, allowing the network to categorize computation based on the power of each particular device. For example, the mainframe computers can develop complex contracts due to their high computational abilities; PCs can develop contracts suitable to their computational prowess; mobile devices can run smart contracts fit for them; and so on.
This method of hierarchical calculation allows the Cypherium chain to adapt to a wide range of application scenarios; therefore, making the smart contracts applicable at multiple layers.
By default, it is impossible to guarantee safe math. Thus, there are always integer overflow vulnerabilities. To curb this threat, Cypherium Virtual Machines are executed under the sandbox-style security isolation.
Whenever there’s a threat of integer overflow, infinite loops, and other unforeseen circumstances, the CVM will immediately halt its operation. This mechanism is generally secure and guarantees the regular operation of a node, protects the user’s on-chain assets and at the same time blocking the tamper of the execution result state data during the network communication process, and preventing data forgery through the adoption of a BLS signature processing on the execution result. This ultimately makes it possible for the consistency of results.
The future of smart contracts lies with Cypherium and CVM. The upgrades and innovations brought to the CVM cannot be overemphasized.
In addition to speed, security, and scalability of the Cypherium smart contract system, it is also compatible with all smart contracts in Ethereum. The CVM allows users to deploy directly to the Cypherium chain without code changes by providing a duly consistent ethereum smart contract mechanism.
Users who have matured smart contracts on Ethereum can easily make the switch to Cypherium without any risk on their part.
Conclusively, the Cypherium way is, without a doubt, is an innovation to the blockchain ecosystem.
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