The crypto world has had a busy few years, but we’re still here with the potential to see some interesting applications emerge in a number of industries, from the health sector to consumer finance.
For example, Ethereum is currently powering a number different smart contracts for various industries.
Now, one of the biggest hurdles in implementing a blockchain based smart contract is that there are no standard implementations yet.
But that’s about to change.
In a blog post published today, a group of MIT researchers has proposed a standard framework for building smart contracts using Ethereum.
The idea is to allow developers to write their own smart contracts with no need to implement the Ethereum runtime.
In other words, you can write code that runs on top of Ethereum, which could eventually make it easier for companies to create smart contracts.
If the plan works, the developers behind the project would be able to use Ethereum’s native token, ether, to store and manage their code.
They also said that using the token could open up the possibility for other uses, such as crowdfunding.
The team behind the proposal says that this approach is not meant to replace Ethereum’s core smart contract system, but rather to make the platform more secure.
The MIT team is currently working on their proposal, and there’s a lot of work left to do before they can submit it to the Ethereum Core project, which will make it available to developers to build smart contracts on top.
The Ethereum team has also been working on a smart contract framework that uses the Ethereum Virtual Machine, which can also be used to run smart contracts, but this project is currently not open to public scrutiny.
The group behind the MIT proposal said that they hope to have their proposal submitted to the core Ethereum project in the near future.
The proposed solution for smart contracts will likely be more flexible and easier to implement than Ethereum, and it’s a good sign that the platform is poised to have some interesting uses come to fruition.
For now, the Ethereum team is working on its own proposal, which is currently in the works.
There’s still a long way to go before we see this standardized smart contract technology take root, but it’s still worth taking a look at what Ethereum is up to.