Walter Hernández, a researcher at the DLT Science Foundation, has proposed upgrades that could significantly improve the way developers and users interact with smart contracts in Hedera. Smart contracts are deployed in bytecode, making it difficult for users to understand. As a result, this creates difficulties in determining whether the smart contract is worth interacting with. However, suggestions to Hedera’s mirror node explorer seek submission of source code so that the human-readable smart contract is available in the explorer.
DSF has cited this as a positive development for the blockchain, emphasizing its contribution to the transparency and security of smart contracts. The proposal by Walter Hernández underlines that blockchain technology is willing to advance, provided innovations are driven toward the community.
The proposal for the Hedera blockchain is likely to set a precedent for other blockchains to follow. The proposed feature is currently live on HashScan.io as a step in the direction of boosting Hedera’s adoption. It will go live on more platforms in the days to come. As the development of this functionality is expedited, a community node explorer will be granted the chance to utilize it.
What boosted the proposal was the different layers of smart contract codes, with the final deployment being in a manner that is not human-readable. Developers access high-level language to read and write the code. This ends up making it difficult for users to comprehend if they should interact with the smart contract.
The actual results of Walter Hernández’s proposal will likely be made public later. So far, it has done little to the trading value of HBAR, for the token is down by 6.18% in the last 7 days. HBAR is exchanging hands at $0.06179 at the time of writing this article. HBAR prediction estimates that the token can inch closer to the mark of $0.103 only if it works well in the remaining days of 2023. The minimum value that it can achieve by the end of this year is $0.042.
The proposal by Walter Hernández builds on the fact that Etherscan and Polygonscan are already offering smart contract verification services. Not working in their favor is the closed-source mechanism, which seeks for users to come up with their own closed-source solution. The solution is in a more open manner for every Hedera community node explorer.
Verifying smart contracts allows it to identify bugs and security issues. Deployment of smart contracts in segments like NFT, DEX, and bridges is a way to ensure that users get what they want without having to take unnecessary risks. However, they could be backed by issues that spoil the final outcome. Hence, Walter Hernández’s proposal is being taken up, with HashScan.io being the first one to do so.
Meanwhile, the DLT Science Foundation has aligned itself with UK CBT and UBRI for substantial strides in education and innovation in the crypto and blockchain sectors.