MaataData's Approach To Smart Contracts

Problems With Current Smart Contracts

Smart contracts developed on networks like Ethereum, Solana and other layer 1 blockchains powering simple transactions with a few lines of code are inherently limited for wide-spread enterprise adoption due to the following reasons.

Lack Of Same-Chain Database & Storage

Only the state of the smart contract variables can be saved on the blockchain it is running on.

Any related information or files would need to be sent to another layer with database functionality or a central database server via a potentially unsecure blockchain bridge, which does not have the same verifiable, decentralized security protocols as the layer 1 network. Security and immutability would be compromised with this transfer.

Computing Takes Place On Network Nodes & Is Limited

Smart contracts are executed on network nodes, which are usually centralized because only a few big server nodes have the capability to execute many smart contracts for each new block.

This network could never scale to millions of smart contracts because each node in the network must execute all the smart contracts for each new block. Executing major applications would not be possible.

Executing smart contracts at scale could be viable if the transaction fee to execute each line of smart contract code is increased. However, that would be too costly for an enterprise or user to absorb, especially if the smart contract is more complicated and longer than a few lines of code.

Solana’s recent network going down issues could be because their fee is too low to handle the load of the increasing number of smart contracts on their blockchain.

The result is that smart contract is finally too costly or cannot be a major application.

How many times has Solana’s network goes down because their fee is too low to handle the load of the demand of many smart contracts?

User Interface Built Layer 2 Solutions Versus Layer 1 Smart Contracts Are Running On

UI cannot be implemented on the current smart contract layer 1 networks. It must rely on second layer solutions with no security enforcement.

How Smart Contracts Function On MaataData’s Blockchain

We solved these problems by having an integrated database and storage engine in the same layer as its blockchain. Smart contracts run on user devices, versus network nodes. The patent pending configuration of MaataData’s blocks also results in high network speed.

This permits the development of any enterprise application that requires robust database functionality and high-volume transactions.

Smart Contracts Run On User Devices, Not On The Network

In our secure, integrated database blockchain ecosystem, smart contracts are decentralized, and their code runs on the verified user devices participating in that specific blockchain network.

The application logic is not restricted by a few big server nodes of the network. As a result, the server nodes in MaataData’s blockchain network are not bogged down by the execution of application smart contract logic.

No Fees Required To Run Smart Contracts

and Since the code is being executed on user device and not on a server node, we can reduce or eliminate fees to process each line of code.

User Interface Applications Are Secured & Certified

We provide a mechanism to secure the user interface application to access the MaataData blockchain ecosystem. The same security guidelines that govern MaataData’s blockchain would be available to the application.

The application can be audited for compliance to follow the security guidelines imposed by the MaataData’s API interface to its network. The application generates a hash number which enforce compliance, and any changes on the application software after compliance certification would render the application unusable on the blockchain.

Applications that are certified can then have access to the MaataData’s network providing its hash number.

Companies that do not certify their applications could be considered as untrusted and unsecured.