Crypto protocol for merging existing blockchains and building semantic smart contracts
- ICO start: 15. Aug 2018
- ICO end: 15. Oct 2018
Technology: Ethereum blockchain
Kirik Protocol ICO Short Review
The core of the project is the concept of the Semantic Smart Contract – an executable specification built using Mathematical Logic, specifically the Theory of Semantic Modelling. The core of the project is the concept of the Semantic Smart Contract – an executable specification built using Mathematical Logic, specifically the Theory of Semantic Modelling. Semantic smart contracts describe specific subject domains (like real estate, car rental and other contracts) in familiar logical terms. Unlike classical smart contracts, they do it in such way that human logic and the semantic meaning of a contract don’t “dissolve” when transferred to computer code but rather stay readable and understandable by laymen. One outcome is that we do not need an army of programmers to turn a contract into a code or to audit smart contracts – one can construct a semantic contract without programming, and KIRIK will execute it automatically. Semantic contracts also have advantages when it comes to auditing. Specifically, semantic contracts are a lot more transparent and secure than classical smart contracts to the extent that they can be applicable for legally binding deals in real business and governmental environments. The reason is that KIRIK is free from limitations of other smart contract platforms, all of which are written in procedural or ‘Turing-Complete’ languages bearing the risks of bugs, runtime errors, and undocumented uses with unpredictable outcomes. While classic smart contracts cannot be verified by another script or piece of software automatically, without human interference, KIRIK’s semantic contracts can, since their underlying language is not Turing-Complete yet has broad expressional power.