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Butalik Viterin

@cypherpunk1

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What Hybrid Smart Contracts Mean for Global Industries DONs enable an advanced hybrid smart contract framework that brings about seamless, secure, and universal automation between any and all independent entities operating across disparate systems and blockchains. Chainlink helps developers overcome the current technical limitations of smart contracts by empowering them to leverage the deterministic execution guarantees of blockchain technology while also securely outsourcing key functions like external connectivity, privacy, scalability, and order-fairness to DONs. Not only do hybrid smart contracts open up more trusted and efficient collaboration between different network participants, but they offer a way to connect existing infrastructure to blockchain networks with zero backend modifications.
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WHAT IS A SMART CONTRACT UPGRADE? A smart contract upgrade involves changing the business logic of a smart contract while preserving the contract's state. It is important to clarify that upgradeability and mutability are not the same, especially in the context of smart contracts. You still cannot change a program deployed to an address on the Ethereum network. But you can change the code that's executed when users interact with a smart contract. This can be done via the following methods: Creating multiple versions of a smart contract and migrating state (i.e., data) from the old contract to a new instance of the contract. Creating separate contracts to store business logic and state. Using proxy patterns to delegate function calls from an immutable proxy contract to a modifiable logic contract. Creating an immutable main contract that interfaces with and relies on flexible satellite contracts to execute specific functions.
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How Is Blockchain Interoperability Achieved? Most existing Layer-1 blockchains lack built-in features that support cross-chain interoperability. However, there are a variety of tools today that are increasing the level of interoperability between blockchain networks: Sidechains: A type of Layer-2 platform, sidechains are separate blockchain networks that are compatible with a single mainchain. Each sidechain has its own consensus mechanism, security parameters, and tokens. These sidechains generally have their own specific use cases that are distributed accordingly in order to improve the overall ecosystem’s processing efficiency and self-sovereignty. Several major crypto projects such as Polkadot and Cosmos were designed from the ground up to be comprehensive cross-chain infrastructure solutions, with the ultimate goal being to establish an interoperable “network of networks.” CONTINUED BELOW
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HOW DO VALIDIUMS INTERACT WITH ETHEREUM? Validiums are scaling protocols built on top of the existing Ethereum chain. Although it executes transactions off-chain, a validium chain is administered by a collection of smart contracts deployed on Mainnet including: Verifier contract: The verifier contract verifies the validity of proofs submitted by the validium operator when making state updates. This includes validity proofs attesting to the correctness of off-chain transactions and data availability proofs verifying the existence of off-chain transaction data. Main contract: The main contract stores state commitments (Merkle roots) submitted by block producers and updates the validium's state once a validity proof is verified on-chain. This contract also processes deposits to and withdrawals from the validium chain.
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