- MineNet introduces smart contracts, one of its most requested features
- Smart contacts allow miners to send digital currencies to other parties directly from the platform
- MineNet also plans to introduce Turing Complete smart contracts
Waves MineNet has, after a lot of demand from miners, finally allowed the use of smart accounts on their platform. As their official announcement stated, miners had overwhelmingly voted for the feature.
With the platform’s latest block, #1,190,000, miners now have access to some early features of smart contracts, with more on the way.
What are smart contracts?
Smart contracts are computer programs that control the transfer of digital currency between various parties.
Considering that most miners participate in one form of digital currency trade or another, this feature is essential for their work. In the past, they would have had to transfer their currency to an external wallet and then transfer to their desired parties.
This made the process of sales quite tedious but with the implementation of smart contracts, they can perform this task from a single platform.
How this works
Miners who want to set up smart contracts can do so by using MineNet’s RIDE IDE feature. By using this, they will be able to access the early smart contact features which include multi-sig addresses, token freezing, atomic swaps, voting, and Oracles.
This gives an added layer of security for miners since their funds are not being taken to other platforms and also gives them more control and flexibility in how and to who they are sending their digital assets.
Getting Used to It
MineNet, for their own part, have provided a number of resources for those who are just getting used to the new features. Their developer Inal Kardanov created three tutorials which explain several of the new features.
Considering that these features have just been added, they might take some time for the MainNet users to get used to.
More to come
MineNet has taken its users opinions into consideration and introduced smart contracts, but they are far from done.
In their official announcement, they stated that they will soon be introducing Turing Complete smart contracts which they say will be more secure than the current smart contacts that make use of Ethereum.