Pact - smart contract language
Pact is an open-source smart contract language designed to support the unique challenges of developing blockchain solutions. Code is stored in an unmodified, human-readable form on the ledger. Pact’s declarative and Turing-incomplete design fights exploits and bugs. Excellent development tooling speeds development and the simplicity of the language allows users of all proficiencies to develop safe blockchain applications. How does Pact solve the issues in other smart contract languages? Pact was intentionally designed with safety and security in mind. Compared to Ethereum’s smart contract language Solidity, Pact’s code is installed directly onto the blockchain, so you can always review the running code and be sure of what is happening. Pact also allows you to upgrade your smart contracts, so that you can offer new features and fix bugs as they are discovered. None of this is currently possible with Solidity. Most importantly, Formal Verification allows users to mathematically prove that their code does what it claims and contains no bugs. Formal Verification systems are used in nuclear power plants, aerospace autopilot systems, and now, with Pact, in a blockchain. Why is this important? Businesses and governments that are exploring blockchain technology cannot put their faith in a platform like Ethereum, with potentially catastrophic consequences and lost currency. With Kadena’s smart contract language, Pact, users can trust that their code is protected by the same mathematical systems that protect mission-critical ventures, developed by technologists with over a decade of experience building systems for financial institutions.
Press and media coverage
Forbes, Why Business Rules Will Impact Blockchain: https://www.forbes.com/sites/danwoods/2016/11/14/why-business-rules-will-dramatically-expand-the-impact-of-blockchain/#6a7be14e70cd; CoinDesk, Evolution of Kadena, the First Real Private Blockchain: https://www.coindesk.com/evolution-kadena-first-real-private-blockchain; Rethink Trust, Pact Q&A with Kadena: https://blockchain.intellectsoft.net/blog/qa-with-douglas-beardsley-senior-engineer-of-kadena-at-rethink-trust/; Pact Formal Verification, Making Blockchain Smart Contracts Safer: https://medium.com/kadena-io/pact-formal-verification-for-blockchain-smart-contracts-done-right-889058bd8c3f Fortune, How JPMorgan Chase Learned to Love the Blockchain: http://fortune.com/longform/jpmorgan-chase-tech-blockchain/; Pact in “Mastering Blockchain, Distributed ledger technology, decentralization, and smart contracts explained”: https://books.google.com/books?id=3ZlUDwAAQBAJ&pg=PA503&lpg=PA503&dq=pact+kadena&source=bl&ots=-4j2KKSOWI&sig=P9ycZsgEeW9AiIOBWnrBN8E9pPs&hl=en&sa=X&ved=2ahUKEwjbuO__iNzfAhVhiOAKHc0dDkk4ChDoATAIegQIABAB#v=onepage&q=pact%20kadena&f=false; Beyond Blocks, Charles Hoskinson (IOHK) and Marie Leaf (Kadena) discussing Pact Formal Verification: https://youtu.be/dg-XfQWwWCM?t=1035; The EVM is Fundamentally Unsafe: h The EVM is Fundamentally Unsafe: https://medium.com/kadena-io/the-evm-is-fundamentally-unsafe-ba486cb17f1f Smart Contract Programming Languages on Blockchains: An Empirical Evaluation of Usability and Security: http://www.academia.edu/36623330/Smart_Contract_Programming_Languages_on_Blockchains_An_Empirical_Evaluation_of_Usability_and_Security