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6. Introducing Smart Transactions

Smart Transactions are Self-Adjusting and Context-Aware:

  • They self-adjust their performance based on assertions and performance guarantees to be strictly enforced.
  • They adapt to their environment, reacting to various conditions and contexts to optimize execution.
  • They will be more than just programmable; they will "know" their surroundings and adjust accordingly.
  • They are supported by an underlying layer of third party searchers that provide compute and storage services (leveraging legacy Web services frameworks) — both reducing the liability for service provider (as they are not real providers but extract value through smart transaction interactions with external third parties specific to domains), but also and more importantly, provide services that can be leveraged through API connections between itself and the Solvers (creating links to offchain services for hybrid apps in the future).

Smart Transactions Time Travel in Blockchain: The concept of allowing transactions to borrow from future states to optimize current outcomes. The lifecycle of a transaction can now include temporal claims, such as specific ordering requirements or constraints. This requires robust validation mechanisms to ensure that future states can be reliably accessed and utilized (See § 7.2).

Example Scenarios:

  • Flash Loans: A user borrows funds, executes a trade, and repays the loan within a single transaction, leveraging future profits for current operations.
  • Zero Capital Trading: Transactions utilize future gains to execute trades without needing initial capital.

Some of the Key Features are:

  • Scheduled Transactions: Plan and execute transactions in the future, considering dependencies on other events or on the outcomes of previous transactions.
  • Just-In-Time Liquidity: Access funds precisely when needed, reducing the need for large reserves. Dynamic provision of liquidity using smart contracts that awaken based on predefined conditions. Solvers provide liquidity by preempting race conditions and ensuring advantageous transaction placements.
  • Automated Operations: Implement schedulers for periodic payments, contract renewals, and other time-dependent actions.
  • Asynchronous Execution: Handle values not yet computed at the time of transaction execution, interacting intelligently with anticipated future states.
  • Oracle Integration: Access to execution traces and MEV-time oracles for atomic pre-confirmations, enhancing transaction security.

Compatibility: Designed to work with the existing Ethereum Virtual Machine (EVM) and infrastructure, including Flashbots bundle standards.