This article was first published on Komodo
This series of posts is called the Tech Tuesday Updates. Along with AMA Mondays on Komodo’s subreddit and the Five Bullet Fridays weekly newsletter, Tech Tuesday Updates will be another weekly piece of content to look forward to.
In case you’ve missed a previous edition and want to catch up, you can find all the previous Tech Tuesday updates here.
Facebook crypto acquisition – technology comparison
Exciting news with Facebook acquiring the chainspace research project. In a couple of hours of reading, I’ve tried to break down some of the technologies in a quick overview and illustrate how advanced Komodo technology is with respect to one of the biggest technology companies acquisitions in the peer to peer field – all page references are to the chainspace whitepaper accessed earlier today.
Sharded Smart Contract Platform
The chainspace solution offers a data model of objects, contracts and transactions (page 2, Section II A). The objects can be in either mutable or immutable state. Each object is cryptographically unique. The contracts are a special type of object that allows procedures to manipulate objects of types specified by the contracts to produce outputs.
So far, nothing particularly different to Komodo.
Each chainspace contract has a checker that takes inputs and checks it. In Komodo and most other blockchains – it is called validation. Each node can validate each transaction/procedure in a deterministic (repeatable) way.
Once a transaction consumes these contract input objects, the contract outputs new output objects. The inputs are marked as inactive. This sounds a lot like the UTXO model so far, where UTXOs become spent when they are no longer available for spending.
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