Digital Asset Blog

A new language for a new paradigm: smart contracts

Posted by Digital Asset on May 18, 2018 9:00:00 AM

DAML - a language purpose-built for the exchange of value

In Distributed Ledgers need more than traditional design patterns, Shaul asserted that because Distributed Ledger Technology (DLT) is a fundamentally new paradigm for operating applications that span multiple untrusted actors, programming languages used to build applications for more traditional environments are insufficient for writing smart contracts.

What, then, should a DLT contract language look like?

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Topics: Smart Contracts, DAML, SDK

What properties must an enterprise smart contract language have?

Posted by Digital Asset on May 7, 2018 12:00:00 AM

When it comes to DLT contract languages you must choose, but choose wisely

In our previous article Distributed ledgers need more than traditional application design patterns, Shaul pointed out that most DLT vendors deliberately choose to “pair their ledgers with programming languages that are general-purpose and familiar in an effort to appeal to the most widespread developer skills.” This approach is understandable, and reduces the learning curve, but features of those languages can cause unpleasant issues when used for writing DLT smart contracts. Tony Hoare refers to null pointers as his billion dollar mistake — in this post we’ll discuss some of the language features that have already led to multi-million dollar mistakes when used in a DLT setting, and suggest some properties that a contract language should exhibit to help avoid similar mistakes in the future.

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Topics: Smart Contracts, DAML, SDK

Distributed ledgers need more than traditional application design patterns

Posted by Digital Asset on Apr 18, 2018 11:00:00 AM

The role of language in DLT-based financial markets

Modern society depends on the secure transfer of value in nearly every aspect of life — from transfers of stock, bonds, or cash on the books of financial markets to the consumption of digital content for a fee. Despite the pervasiveness of financial transactions and decades of operational experience executing them, two major problems remain unsolved:

  1. Executing transactions is still complex, opaque, expensive, and full of operational risk.
  2. Despite blazingly fast innovation in other areas of software development, innovation in the world of cross-enterprise workflows is painfully slow.

Why?

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Topics: Smart Contracts, DAML, SDK

Introducing the Digital Asset Modeling Language: A Powerful Alternative to Smart Contracts for Financial Institutions

Posted by Digital Asset on Apr 20, 2016 9:00:00 AM

Today we are delighted to announce the acquisition of Elevence, a technology firm that has developed an expressive language for financial institutions to model and execute agreements with certainty and finality. This technology complements Digital Asset's existing software by providing a new, verifiable way for parties to a transaction to prove updates to a distributed ledger while preserving data confidentiality.

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Topics: Smart Contracts, DAML

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