CyberMiles Engineers to Speak at Ethereum Devcon5 in Osaka, Japan
Ethereum Devcon5, one of the most prestigious blockchain technology conferences, is going to Osaka, Japan this year. Members of the CyberMiles development team are invited to give a presentation about the Lity smart contract programming language, a formal rules language for smart contracts. The Ethereum-compatible CyberMiles Virtual Machine (CVM) is the only public blockchain execution engine that supports the Lity rules language.
Since its launch in July 2018, the CVM has been a crucial piece of infrastructure in the CyberMiles ecosystem. It has a proven record of high performance and security. The CyberMiles engineering team has been working to optimize the CVM for e-commerce. Native support for business rules is a crucial optimization strategy.
As explained in the CyberMiles white paper, smart contract fits well with Business Rules Engines (BREs). Smart contracts are immutable programs on the blockchain. They are automatically executed based on pre-defined rules. BREs automatically evaluate, re-evaluate, and execute those rules. They have been proven successful in traditional financial services.
With the Open Source Lity and CVM projects, the CyberMiles team has developed extensions to the Solidity language and the EVM to support BRE in smart contracts.
Besides the formal rules language, the Lity + CVM projects bring other notable features to the public blockchain, especially for business applications. For instance, the CyberMiles blockchain supports the smart contract owner to pay gas fees for dapp users. That will help onboard new users to blockchain applications. Another important business features supported by CyberMiles is secure random numbers in smart contracts. In the next upgrade of the Lity language + CVM, developers will be able to handle JSON objects from inside smart contracts, which is again a first in the Ethereum ecosystem.
At DevCon5, we will share our experience developing Lity and CVM with the ethereum developer community at large. We would like to see more commercial use cases for rules engine in smart contracts. At the same time, we would promote more innovations in Ethereum language extensions.