Waves, the custom blockchain ecosystem, today announced the release of node update 0.17 brings RIDE for dApps to testnet. RIDE is Waves’ native smart contracts programming language.
RIDE for dApps is being introduced to grant an account a way of assigning a programmable function to itself, with callable functions that are able to: Receive payments, change the account’s state, and send WAVES and tokens from the account.
To initiate the call, Waves added a new command: InvokeScriptTransaction. This needs to be put on the blockchain to call a function, and the sender pays fees to the miner for the invocation to be executed. The sender can optionally attach payment in WAVES or tokens, and upon invocation, the contract state can be changed and the contract can make multiple payments.
The existing mechanics for authorization scripts will be maintained under the @Verifier function of the account. This can be thought of as an ‘admin’ function for the contract’s owner or owners. By default, the contract, contract data, and contract tokens are all controlled by the private key for the account. Multisig control is possible. If @Verifier is always false, then the contract is sealed — immutable.
RIDE Principles
RIDE is a blockchain scripting language, which enables ‘smart’ blockchain transactions. The execution result is predicated on certain logic, realized using RIDE scripts and deployed on the blockchain. The goal of RIDE’s architecture is to create a native on-chain computation layer which is as close to the general blockchain architecture (full data synchronization) as possible.
For more information on the new functionalities RIDE makes possible, see the Waves update and GitHub release.