Murray Marderosian’s Post

Understanding " Smart Contracts" in Blockchain? Smart contracts are self-executing contracts with the terms of the agreement. They are written in programming language or code. They automatically enforce and execute the agreed terms when predefined conditions are met, without the need for intermediaries. Deployed on a blockchain, these contracts ensure transparency, security, and immutability. What programming language is used in Smart Contracts? Several programming languages are used for writing smart contracts, depending on the blockchain platform. Example: Solidity (C++, Java Script, Python) most widely used language for writing smart contracts on Ethereum blockchain. How Smart Contracts Work? 1. Code: The contract is coded in a blockchain's programming language (e.g., Solidity for Ethereum). 2. Deployment:  Once coded, it's deployed on the blockchain. 3. Execution: When conditions are met, the contract automatically executes the agreed-upon actions. Example: Imagine a vending machine as a simple analogy: - You insert money (input). - The machine checks if the amount is sufficient (condition). - If sufficient, it dispenses the selected item (output). In the digital world, a smart contract could be: - You pay for a service in cryptocurrency. - The smart contract checks if the payment is received. - If yes, it grants access to the service. Do All Blockchains Have Smart Contracts? Not all blockchains support smart contracts. Here’s a breakdown: 1. Blockchains with Smart Contracts:   - Ethereum: Pioneer in smart contracts, allowing decentralized applications (DApps) to run on its platform.   - Binance Smart Chain: Similar to Ethereum, it supports smart contracts and DApps.    2. Blockchains without Smart Contracts, few example:   - Bitcoin: Primarily designed for peer-to-peer transactions.   - Litecoin: Similar to Bitcoin, it focuses on fast and low-cost transactions. Can We Have a Blockchain or a DLT Without Smart Contracts? Blockchain is a DLT but not all DLT’s are blockchains. Understanding DLT: <iframe src="https://lnkd.in/gARuPK9S" height="2012" width="504" frameborder="0" allowfullscreen="" title="Embedded post"></iframe> Yes, a blockchain or a Distributed Ledger Technology (DLT) can exist without smart contracts. - Bitcoin: An example of a blockchain without smart contracts, primarily used for digital currency transactions. - Hyperledger Fabric: A DLT framework that can operate without smart contracts, focusing on secure, enterprise-level transactions. A quick summation, smart contracts are crucial for automating and enforcing agreements on certain blockchains, particularly those designed to support decentralized applications. However, not all blockchains have or require this functionality, depending on their purpose and design which is mentioned in their white paper. #smartcontract #btc #hyperledger #eth #blockchain #crypto #cryptocurrencies #fintech #tech

🌐 Exploring Blockchain Development: A Comprehensive Overview 🚀 Blockchain technology is revolutionizing industries by providing secure, transparent, and decentralized solutions. For developers looking to enter this innovative field, understanding the fundamentals of blockchain development is key to unlocking its potential in areas such as finance, supply chain, and decentralized applications (DApps). What is Blockchain? Blockchain is a distributed ledger technology (DLT) that allows data to be recorded across multiple nodes, ensuring transparency, security, and immutability. Unlike traditional systems, blockchain operates without a central authority, making it ideal for decentralized ecosystems. Essential Tools for Blockchain Developers: 🔗Solidity: A high-level, contract-oriented programming language for implementing smart contracts, particularly on the Ethereum network. 🔗Web3.js: A JavaScript library that facilitates interactions between applications and the Ethereum blockchain. 🔗Truffle/Hardhat: Popular frameworks for smart contract development, testing, and deployment. 🔗MetaMask: A widely used browser-based wallet for managing accounts and interacting with Ethereum-based DApps. Steps to Begin Blockchain Development: 💻 Set Up the Development Environment: Install Node.js, along with a framework like Truffle or Hardhat, to manage smart contract lifecycles. 📜 Write Smart Contracts in Solidity: Develop contract logic to automate business processes on the blockchain. 🌐 Build a Frontend Using React and Web3.js: Create an intuitive user interface that allows users to interact seamlessly with your smart contract. 💡 Testing and Deployment: Use Ethereum test networks (e.g., Rinkeby, Kovan) for pre-production testing before deploying contracts to the Ethereum mainnet. Why Blockchain? Enhanced Security: Blockchain's decentralized nature provides robust security, ensuring data integrity and protection against tampering. 🌐 Transparency and Accountability: Transactions are immutable and traceable, fostering trust in digital interactions. 🌐 Decentralization: Blockchain eliminates the need for intermediaries, enabling direct peer-to-peer interactions and reducing operational costs. Applications of Blockchain Technology: 🌐Finance and Payments: Enabling faster, cheaper cross-border transactions. Supply Chain Management: Providing transparent tracking of goods and services. 🌐Decentralized Finance (DeFi): Offering financial products without traditional intermediaries. 🌐NFTs and Digital Assets: Tokenizing ownership of digital and physical assets. Blockchain is poised to transform industries, making it a critical skill for developers seeking to innovate and shape the future. Start exploring the possibilities today by building decentralized, secure applications that leverage blockchain’s unique capabilities. #BlockchainDevelopment #SmartContracts #Ethereum #Solidity #Web3 #DApps #Decentralization #DeFi #CryptoInnovation

Key Technologies Powering Web3 Web3 is more than just a concept—it's built on a foundation of powerful technologies that enable decentralization, transparency, and user control. Let’s explore some of the essential tools and platforms driving the Web3 movement. 1. Ethereum Ethereum is the most well-known blockchain platform for building decentralized applications (dApps). It introduced smart contracts, enabling developers to write self-executing code on the blockchain. Ethereum is at the core of many Web3 projects, from decentralized finance (DeFi) platforms to non-fungible tokens (NFTs). 2. MetaMask MetaMask is a crypto wallet and gateway to blockchain applications. It allows users to store and manage their digital assets and connect to decentralized applications directly through their browser. With MetaMask, users can interact with the Ethereum blockchain without needing to run a full node. 3. Web3.js Web3.js is a JavaScript library that allows developers to interact with the Ethereum blockchain. It simplifies the process of connecting websites to blockchain networks, enabling users to read data, send transactions, and deploy smart contracts from the browser. It’s one of the most popular tools for building Web3 interfaces. 4. IPFS (InterPlanetary File System) Traditional file storage relies on centralized servers, which are vulnerable to censorship and failure. IPFS is a peer-to-peer file storage protocol that decentralizes the way files are stored and shared across the internet. By distributing files across multiple nodes, IPFS ensures that content remains accessible and resistant to censorship. 5. Chainlink Smart contracts often need access to real-world data, such as stock prices or weather information. Chainlink is a decentralized oracle network that provides reliable, tamper-proof data feeds for blockchain applications. Oracles like Chainlink bridge the gap between the blockchain and the outside world. 6. Thirdweb Thirdweb is an easy-to-use platform that helps developers create and manage dApps with minimal effort. It provides pre-built smart contracts, SDKs, and tools to simplify the development process, making it accessible for developers who want to quickly launch Web3 projects. Why These Technologies Matter Each of these technologies plays a vital role in the Web3 ecosystem. Ethereum and Web3.js allow developers to build and interact with decentralized applications. MetaMask connects users to these dApps. IPFS ensures content is stored securely and without reliance on central authorities. Chainlink provides essential real-world data to smart contracts, and Thirdweb simplifies development. As Web3 continues to grow, these technologies will be key to building a more decentralized and user-controlled internet. #web3 #blockchain #bitcoin #Dex #smartcontract #solidity #ethereum #technology #defi #crypto #cryptocurrency

I’m thrilled to announce that our paper titled "MDAPW3: MDA-Based Development of Blockchain-Enabled Decentralized Applications" has been published. I invite you to read our work and provide us with your insights, which would be invaluable. This paper proposes a new model-driven approach for developing complex Web3.0 Decentralized Applications (DApps). We have implemented and evaluated our method thoroughly and provide proof of its superiority to related work and its applicability to real-world applications. Paper Link: 👉 https://lnkd.in/dqEQQb5W Paper Abstract: Web3.0 Decentralized Application (DApp) is a class of decentralized software in which at least the business logic of the software is implemented using blockchain-based smart contracts. Features such as transparency, decentralized execution environment, no need for a central authority, immutability of data from manipulation, as well as a native transaction-based payment system based on cryptographic tokens are the main advantages of Web3.0 DApps over conventional Web2.0 software in which the business logic and user data are centrally controlled by companies with no transparency. However, the development lifecycle of Web3.0 DApps involves many challenges due to the complexity of blockchain technology and smart contracts, as well as the difficulties concerning the integration of DApp on-chain and off-chain components. To alleviate these challenges, a Model Driven Architecture (MDA) approach for the development of Web3.0 DApps is proposed in this paper that streamlines the development of complex multi-lateral DApps and results in a product that is verifiable, traceable, low-cost, maintainable, less error-prone and in conformance with blockchain platform concepts. Opposed to previous studies in this area that applied MDA only for the development of smart contracts, our proposed MDA-based approach covers the full architecture of Web3.0 DApps: on-chain, off-chain and on-chain/off-chain communication patterns. The method application was demonstrated by implementing a land leasing Dapp where the requirement model (a BPMN choreography model) was transformed into CIM, PIM, and PSM instances successively, and finally, the code-base was generated based on the Ethereum platform technology stack. Epsilon Validation Language (EVL), Epsilon Object Language (EOL), and Epsilon Comparison Language (ECL) were used for the verification/validation of the model instances at each step. Furthermore, by evaluating the quality metrics of the proposed meta-models, we show that they have better ontology coverage and are more reusable and understandable compared to previous meta-models. I want to express my deepest gratitude to my supervisors, Dr Omid Bushehrian and Professor Gregorio Robles, for their contributions and invaluable guidance and support throughout this research. #Web3 #Blockchain #DApps #MDA #Research #Paper #Development #Software

BLOCKCHAIN ARCHITECTURE: DESIGNING SCALABLE AND EFFICIENT DECNTRALIZED SYSTEM. Day 6 of the Hilton Top Solicitors Virtual Mentorship program ✨. Today, we were privileged to have our speaker Chike Okonkwo, Cofounder and Business Development Director at Gamic. -Introduction. Gamic: An innovative app merging gaming, creator content, and blockchain enthusiasts into a dynamic decentralized ecosystem. -Blockchain ecosystem and impact. Blockchain Ecosystem: A network including developers, nodes, users, miners such as Solon, Ethereum, Polkadot e.t.c. Key Elements: Protocols, dApps (decentralized application) and crypto assets. Impact on Industries: Enhances transparency and security across finance, supply chain, and healthcare -Challenges and consideration in blockchain architecture. Technical Challenges: Issues like scalability and interoperability. Security Concerns: Risks of attacks (e.g., 51% attack) and privacy issues. Regulatory and Compliance Issues: Adapting to regular and global regulations. User Adoption and Experience: Bridging the gap between complex technology and user accessibility.  -Building efficient decentralized applications (dApps) on Blockchain. *Design Principles for dApps:  User-Friendly Interface: Ensuring ease of use to improve accessibility. Backend Integration: Seamless linking with blockchain for efficient data processing. *Development Stacks Ethereum’s Solidity: Popular for smart contract development. Polkadot’s Substrate: Modular framework for building blockchain ecosystems. Cosmos SDK: Framework for creating interoperable blockchains. -Blockchain Scalability Solutions. Scalability Challenges: Issues like transaction speed, throughput, and latency. Layer 1 Scaling Solutions:  Sharding: Divides the network to process transactions in parallel. Consensus Optimization: Moving from Proof of Work to Proof of Stake to increase efficiency. Layer 2 Scaling Solutions: State Channels: Off-chain transactions, e.g., Bitcoin Lightning Network. Rollups: Off-chain aggregation of transactions, like zk-rollups for added privacy. Side Chains: Independent blockchains linked to the main chain to relieve congestion. -Case studies. Bitcoin: The first cryptocurrency, known for its decentralized monetary system. Ethereum: Pioneering smart contract platform enabling dApps. DeFi: Decentralized Finance platforms reshaping traditional financial services. GameFi: Combines gaming and finance e.g., Defi -Future trends in Blockchain Privacy-Preserving Technologies: Use of zero-knowledge proofs to enhance privacy. Artificial Intelligence (AI) Blockchain: Integrating AI for smarter, more autonomous blockchains. Final thoughts: Blockchain Technology has the potential to revolutionize various industry. But understanding it's architecture, challenges and future trends, we can harness its power to build scalable, efficient and secure decentralized systems. #HTSFVIMPCohort9 #emergingtech #innovation #DeborahEnyoneOni #ChikeOkonkwo

🚀 Exploring the Ethereum Virtual Machine (EVM): The Engine Behind Smart Contracts In my recent work with blockchain technology, I’ve been diving into the Ethereum Virtual Machine (EVM), the engine that powers Ethereum’s smart contracts. Here’s a quick breakdown of how the EVM processes smart contract bytecode and the role of opcodes in making decentralized applications possible. 🔹 The Basics: What is the EVM? The EVM is a global, decentralized computing environment where smart contracts are deployed and executed. When a smart contract is written in a high-level language like Solidity, it’s compiled into bytecode — a sequence of low-level instructions that the EVM can interpret. This ensures that every Ethereum node executes the contract in exactly the same way, keeping the network consistent and trustworthy. 🖥️ Bytecode: Compiled code the EVM understands 🛠️ EVM: Decentralized execution environment for all Ethereum nodes 📜 Bytecode and Opcodes: Decoding the EVM’s Language The EVM uses opcodes — low-level instructions represented by hexadecimal codes (e.g., 0x01 for ADD, 0x00 for STOP). Each opcode corresponds to an operation the EVM must perform, like adding numbers, storing values, or interacting with other contracts. Since the EVM is stack-based, data is pushed and popped off a stack, creating a structured, sequential flow of execution. 🧩 Opcodes: Hexadecimal instructions like 0x01 for ADD 📐 Stack-based Architecture: Operates by stacking and unstacking data, one operation at a time 💸 Gas: The Cost of Execution Every opcode in the EVM has an associated gas cost, essential for maintaining efficiency and security across the network. Gas fees discourage excessive computations, ensuring code remains optimized. Storage-related operations, for instance, are more gas-intensive, so understanding these costs allows developers to write more efficient, cost-effective contracts. 💵 Gas Fees: Paid per operation based on complexity ⚖️ Optimization: Writing efficient code saves on gas fees and enhances scalability 💡 Final Thoughts Understanding the EVM’s inner workings provides valuable insight into Ethereum’s smart contract model. Decoding bytecode, managing gas, and following best practices lead to secure, efficient execution — ultimately enhancing the user experience on Ethereum. Whether you're new to blockchain or a seasoned developer, exploring the EVM opens doors to writing better smart contracts and optimizing decentralized applications. Feel free to reach out if you have questions or want to discuss more about the EVM and blockchain development! #Ethereum #Blockchain #EVM #SmartContracts #Bytecode #Opcodes #GasFees #Web3 #Decentralization #CryptoTech #BlockchainDevelopment #TechInsights #EthereumDevelopment #Programming #Coding #DeveloperCommunity

Aptos: Revolutionizing Layer-One Blockchain with Speed, Security, and Scalability Aptos is a layer-one blockchain that has demonstrated impressive performance with smart contract (SC) transactions. It operates with a latency time of 700-800 milliseconds, and during its mainnet testing, Aptos processed 347 million transactions in a single day. The blockchain maintained a transaction rate of 3,700 transactions per second with a 2-second finality, all while keeping fees low and ensuring its consensus layer remained stable. This high throughput, combined with low-cost transactions and unwavering security, addresses key concerns from traditional financial institutions (TradFi) when it comes to adopting blockchain technology. Institutions prioritize speed, security, scalability, and cost efficiency, and Aptos has proven to deliver on these fronts. For example, major players like BlackRock have tokenized assets like UST on Aptos, and Ondo Finance has done the same with USDY, all thanks to the platform’s speed and cost-effectiveness. Why Projects Built on EVM Should Consider Aptos One of the key questions is: Why would projects built on Ethereum’s Virtual Machine (EVM), such as Ondo, Realio, and Fideum, consider migrating to Aptos? The answer lies in liquidity, user base, throughput, and cost efficiency. AAVE, a leading DeFi protocol, has even proposed deploying on Aptos. The reason? The costs associated with smart contracts on EVM, coupled with the scalability, security, and high throughput of Aptos, are becoming increasingly attractive. As one of their team members noted, "You can process 20,000 payments for a dollar" on Aptos, highlighting the immense cost advantages. Move Prover: Reducing Complexity and Ensuring Security Aptos utilizes the Move programming language, which includes a tool called Move Prover that can formally verify the properties of the code within a smart contract. This is a game-changer for projects like AAVE, which are considering bridging their applications to Aptos due to the cost-effectiveness and speed of transactions. One of the significant benefits of Aptos is that developers are less likely to lose money due to errors in smart contracts. Move Prover ensures that the code is valid before execution, eliminating risks from coding mistakes. This abstraction of complexity allows engineers to focus on innovation without worrying about writing bug-free code from scratch. For developers, Aptos offers a Software Development Kit (SDK) that, combined with Move Prover, validates smart contracts efficiently, even during high on-chain transaction volumes. This, along with the network's low-latency performance, makes Aptos an attractive choice for projects looking to scale while minimizing costs and maintaining security.

🌐Web3, often touted as the "Next Generation" of the Internet, is a decentralized ecosystem built on blockchain technology. It promises a more user-centric and democratized web experience, shifting power away from centralized platforms and towards individuals. This article explores the key concepts of Web3 and its potential impact on the field of web development. 🌐Key Concepts of Web3: ►Decentralization: Web3 aims to decentralize control over data and applications, reducing reliance on intermediaries like big tech companies.  ►Tokenization: Web3 leverages cryptocurrencies and tokens to incentivize participation and reward contributions within the ecosystem. These tokens can represent ownership, access rights, or voting power within decentralized applications (dApps). ►Interoperability: Web3 strives for seamless interoperability between different blockchain networks and applications, allowing users to easily move data and value across platforms. ►User-centricity: It aims to empower individuals by giving them more agency in how their data is used and shared. 🌐Impact of Web3 on Web Development: ►►Rise of Decentralized Applications (dApps): Web3 is fueling the growth of dApps, which operate on blockchain networks and offer enhanced security, transparency, and user control. ►Examples:  📌Decentralized exchanges (DEXs) 📌Decentralized Finance (DeFi) Platforms 📌Non-Fungible Token (NFT) Marketplaces 📌Decentralized Social Media Platforms ►►New Development Paradigms: Web3 introduces new development paradigms such as: ►Smart Contracts: Self-executing contracts written in code that automatically enforce the terms of an agreement. ►Decentralized Storage: Technologies like IPFS (InterPlanetary File System) offer decentralized alternatives to traditional cloud storage. ►Decentralized Identifiers (DIDs): Self-sovereign digital identities that give users greater control over their personal information. ►►Demand for New Skills: Web3 developers require a diverse skillset, including: ►Blockchain programming languages: Solidity, Rust, JavaScript (with libraries like Web3.js) ►Cryptography: Understanding cryptographic principles is crucial for building secure and reliable blockchain applications. ►Decentralized systems architecture: Designing and building scalable and resilient decentralized systems. 🌐Challenges and Considerations: ►Scalability and Performance: Many blockchain networks currently face scalability challenges, which can impact the user experience of dApps.    ►Regulation and Compliance: The evolving regulatory landscape around cryptocurrencies and blockchain technology presents challenges for developers and businesses. ►Security: Blockchain security is critical, and vulnerabilities can have significant financial and reputational consequences. 🌐Web3 is a rapidly evolving field with the potential to revolutionize the internet as we know it. While challenges remain, the opportunities for innovation and disruption are significant #Metastability

Blockchain Smart contract application Hi, at KCA University. I've strengthened my expertise in Blockchain Technology as a smart contract developer. Above is a Multi-Functional DApp, showcasing power of smart contracts in creating decentralized apps Walkthrough -Deployed App (top-left ): web interface where users interact with DApp -MetaMask Wallet (displayed in-browser): Handles authentication & initiates transactions -React App (right in VS Code): Contains the app's frontend, connecting the DApp to my contract using Web3.js -Smart Contract Code (bottom-left in Remix Ethereum IDE): Written in Solidity 👉🏾Access the application live: https://lnkd.in/dBBPXMM9 App allows users to Store, retrieve, & manipulate numerical value Manage a customizable message: Fetch & Update the current message stored on the blockchain ⚒️Technology Used -Remix Ethereum IDE: Designed contract -Web3.js: Enabled interaction between frontend & deployed contract -MetaMask: For user authentication and transaction validation -React: Built frontend interface Deployment Tool -SEPOLIA : Hosted contract on the Ethereum. -Fleek: Deployed the full-stack DApp to make it accessible online. -GitHub: Managed the deployment pipeline. Solidity Code Highlight // SPDX-License-Identifier: MIT pragma solidity ^0.8.0; contract SimpleStorage { .. constructor() { .. function updateMessage(string memory newMessage) Real-World Applications of Smart Contracts •Revolutionizing Supply Chains Blockchain can create transparent, traceable supply chains to combat food fraud & ensure product authenticity. For example: -Traceability Full product lifecycle from farm to retail -Authentication Use blockchain-verified data for validation •Real Estate simplify transactions by automating property ownership transfers with no intermediaries -Automates payments & title transfers -Transparent records ensure security •Efficient Royalty & Licensing Management Implement contracts to automate & monitor royalty payments: -Ensure fair payments to artists -Provide usage analytics & increase accountability •DAOs (Decentralized Autonomous Organizations) Enable decentralized governance with voting and decision-making rules encoded in contracts Practical Demonstration of My DApp showcasing how blockchain addresses inefficiencies in centralized systems: Immutability Data on the blockchain is tamper-proof. Transparency Functionality and transactions are clear to all users. Automation Smart contracts eliminate intermediary delays. Interacting with the blockchain via MetaMask demonstrates how gas fees maintain decentralized, immutable records Blockchain empowers industries by -Security Immutable records ensure data integrity -Transparency All transactions are publicly verifiable -Decentralization Eliminate intermediaries to improve efficiency Goals🎯 building advanced apps e.g Al Integration with Blockchain: to create decentralized Al models that ensure ethical and traceable decision-making

🚀 Exciting news for blockchain developers and enthusiasts! We've just published a comprehensive deep-dive into GRIDNET Core's revolutionary debugging capabilities. Read the full article here: https://lnkd.in/dYr_H825 In our latest article, "GRIDNET Core: Setting New Standards in Blockchain Transparency," we unveil how our multi-state breakpoint system is transforming blockchain development and operations. From real-time transaction analysis to seamless Visual Studio integration, discover how GRIDNET is making blockchain operations more transparent and debuggable than ever before. Key highlights: • Multi-state breakpoint architecture ( a breakpoint is hit once before GridScript code is executed and then after a transaction got processed, same for entire blocks) - thus the concept of multi-state breakpoints is brought along. • we describe how these mechanics integrate seamlessly with Visual Studio during our internal development of GRIDNET Core (a detailed UML workflow diagram is attached) • Advanced state transition analysis - once breakpoint is hit the system looks at difference between the pre- and post- execution state. That way we can clearly see how processing of GridScript affected the system. • Zero-impact debugging capabilities (GRIDNET Core may keep running at full speed until a breakpoint gets hit) • Hard fork validation framework (how internal breakpoints help us investigate consistency issues between different GRIDNET Core branches) Whether you're a developer, operator, or blockchain enthusiast, this article offers valuable insights into the future of blockchain debugging and transparency. Let us know your thoughts in the comments! 💡