Smart contracts offer the potential to automate business-critical processes, reducing cost, increasing throughput and reducing operational risk. However smart contract languages used in blockchain systems today have major drawbacks which make them generally unsuitable for enterprise adoption. This is because the automation of business processes is no longer the realm of the I.T. department but instead the responsibility of business users who are a customed to tools that provide the ability to automate without the need for technology teams.
However, smart contract technologies today are only accessible and understandable to engineers, and are complex to program. In many cases smart contracts, once written, are irreversible and cannot be upgraded. Over $1bn has been lost owing to bugs and issues related to complexity and confusion between I.T. and business personnel associated with the solidity programing language.
We have created an easy to use, open source smart contracts programing language that reflects our core belief that smart contracts should be human readable (business as well as technology users), interpreted and not compiled, checked by computers and not machines and be simple to use. That's why we created Pact.
Pact today can be used on the Cosmos network and on all Kadena products.
- Written specifically for blockchain
- Human readable code for lawyers, business and tech
- Upgradeable contracts with governance
- Full open-source SDK
- Bug detection via formal verification
- Permanent imports–changes cannot break existing code
- Built-in public-key authorization
- Key-value table access with automatic transaction logs
- REST APIs: “Your module is your API”
- Turing-incomplete – no accidental gas lockups
- Lower operational risk
- Faster speed to market / rapid development
- Legacy integration