DIY smart contracts and customisable crypto derivatives on demand

If everything’s going on the blockchain, the blockchain needs a derivatives market.

Blockchain development is tough. Unlike other systems, someone who wants to build an entire platform of their own has to get their heads around the multi-faceted nature of decentralisation, and balancing technical foundations and economic theory.

Even building on an existing platform is tough work and experienced blockchain developers can now pull seven figure signing bonuses from prominent companies.

Ethereum in particular poses a unique challenge. Thanks to the complexities of its own unique Solidity programming language, thousands of Ethereum contracts end up being flawed or even outright broken when they go live. Projects around the cryptosphere are being slowed by difficulties finding experienced developers, and users are still firmly bound by the limits of what someone else develops.

Different projects are trying to solve this in different ways. One of the most common approaches is to create Ethereum-style smart contract platforms that use existing programming languages, rather than complex oddities like Solidity.

Others like 8base go a step further and aim to create a blockchain development platform so simple that absolutely anyone can use it, even with minimal programming experience.

And others like Firmo go a step further still, creating a new ultra-simple programming language called FirmoLang that is specifically designed to let anyone create a financial smart contract of their own, which can then be deployed to other blockchains. So far it’s Ethereum only, but it’s looking at integration with other platforms.

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Source: DIY smart contracts and customisable crypto derivatives on demand | finder.com.au