Held at Coin Congress in San Francisco on Thursday, July 24th, 2014.
Codius is a set of tools for building smart contracts that work with any blockchain and even work with any other service connected to the Internet.
8. Standard software architecture
User Interface
Business Logic
Database
e.g. HTML5/JS, Swing, mobile apps
e.g. J2EE, Node.js, PHP
e.g. MySQL, PostgreSQL
10. Smart oracles: standard architecture
Client
Smart Oracle
Ledger
e.g. Multibit, Ripple Trade
e.g. Codius
e.g. Bitcoin, Ripple
11. Codius: Flexible, powerful, inclusive
Any programming language
Any cryptocurrency network
Any web service
“Simple works, complex fails.” – Timothy Ferriss
12. Now we can execute
traditional contracts as
smart contracts
17. End game: a more efficient legal
system
...from years of a lawsuit to a single click…
...from thousands or millions spent to dollars or
pennies…
...smart contracts develop and improve over time...
why we care, how they’d work
subscriptions, bills
this is how credit cards work
bitcoin really needs this
push payments are like checks - PITA
push is more cumbersome
credit cards are insecure but we like the convenience of pull payments -- wouldn’t it be great if we could do them securely?
why we care, how they’d work
subscriptions, bills
this is how credit cards work
bitcoin really needs this
push payments are like checks - PITA
push is more cumbersome
credit cards are insecure but we like the convenience of pull payments -- wouldn’t it be great if we could do them securely?
make this work in a decentralized way
pull payments are just some specific set of rules for who can access it
(tie this to wallet controls like spending limits)
cryptocurrencies have top and bottom layer,
need middle layer to implement biz logic
codius is that
- consensus networks need all changes to be agreed upon, difficult to get agreement about programming languages
simple is good, decouple biz logic from ui and db layer
(billing agnostic)
emphasize why codius is different
A contract is:“An agreement that is enforceable by law.”
Enforcement means that if the other party screws you, they have to pay you damages.
preauth to draw money from the other person if they break the contract
→ Kind of pull payment with specific precondition
can use bitcoin or ripple to make the payment - very efficient at that
A contract is:“An agreement that is enforceable by law.”
Enforcement means that if the other party screws you, they have to pay you damages.
preauth to draw money from the other person if they break the contract
→ Kind of pull payment with specific precondition
can use bitcoin or ripple to make the payment - very efficient at that
A contract is:“An agreement that is enforceable by law.”
Enforcement means that if the other party screws you, they have to pay you damages.
preauth to draw money from the other person if they break the contract
→ Kind of pull payment with specific precondition
can use bitcoin or ripple to make the payment - very efficient at that
Need to check the precondition - ways ranging from smart objects to a distributed task rabbit for checking things in the real world
How to make sure the other person doesn’t just disappear? - most straightforward are escrow or insurance that will cover breach of contract (ask me more about this after)
enforcement we’re talking about is automatic instead of getting a lawyer who files a suit, etc…
doesn’t handle all cases but you can handle the most common ones
80/20 rule - this covers the 80% of the common cases
layer between people and the current system
cheaper, faster
single click instead of years of a lawsuit
pennies over thousands or millions in fees
refine and tweak contracts over time