The Creation of Smart Contracts 3.0 DNA
Originally written by Michael Holdman, Founder & CEO of Prasaga
A First-Class Object Model; How Ancestry and Inheritance Create the DNA of Smart Contracts 3.0 Platform
Prasaga offers the following analogy of our eXtensible Blockchain Object Model (XBOM) and how it is the DNA of Smart Contracts using Canine (Dog) as an example.
All dogs have the same foundational DNA. Dog DNA has 38 pairs of autosomes (non-sex chromosomes) for a total of 76 chromosomes plus the two sex chromosomes (X and Y) for a grand total of 78.
Every Dog starts withthe same 78 chromosomes. Some of a dog’s chromosomes however are customizable for the species and sex of dog i.e. German Shepherd vs. Bull Dog vs. Maltese, etc.
Now, think of a dog in a first-class object model. First Class is Animal, Secondary Class inheriting traits of an Animal is Mammal, tertiary Class inheriting traits from Mammal is Canine, these classes are always the same never change.
Every canine (class) includes the same base objects (chromosomes) legs, tail, fur, head, snout, etc. What changes is the type of tail, color and length of fur, length of legs (sometimes number), size of head, etc.
So, with XBOM, every person that ever adds an instance of a canine to their account on the blockchain uses the same base code, which is live on the blockchain. You are not downloading the Smart Contract (program), editing and uploading the program which continually duplicates the program on the blockchain, with XBOM everyone creates their smart contract (object/asset) as an instance of the same exact base copy of the program.
In the XBOM, each account customizes the objects (chromosomes) contained in the class (DNA) with parameters that define their specific dog with the proper attributes.
So, now everyone on the Blockchain when adding an asset (object) to their account i.e. securities, crypto, titled property etc. uses the same program as everyone else who created that type of asset (object) into their individual account. Each account only updates the specific attributes, 1,000,000 shares of stock, 400-unit condominium, 4-bedroom, 3-bath house. Whatever is the proper descriptive for your specific asset in your account.
We hope this helps somewhat to understand the attributes of using XBOM Smart Contracts DNA.