New Ethereum Platform Allows Conditional Transaction Execution Based on Future Events
The 'Ethereum time machine' enhances transaction capabilities on the blockchain by making them dependent on future conditions.
Ethereum, a major blockchain known for its programmability and extensive ecosystem of layer-2 networks, is evolving with a new feature: time.
Smart Transactions (STXN), a project spearheaded by Vlad Zamfir, the innovator of Ethereum's proof-of-stake system, launched a platform that enables applications to perform transactions based on future occurrences.
The new platform, dubbed the "Ethereum time machine," broadens the blockchain's programming options by permitting smart contracts to execute transactions contingent on uncertain or undetermined future events.
"For example, a user could stipulate that a trade execute at a specified day and time conditional on a set of prerequisites," the STXN team noted in a press release issued to CoinDesk. “These prerequisites could be absolute, such as the dollar value of a particular asset, or relative – for instance, whether one asset is worth more than another. The potential permutations are almost unlimited, greatly increasing the dynamism of the largest blockchain for developers."
The announcement follows STXN's earlier revelation of a collaboration with Consensys, a leading Ethereum development firm, focusing on research that enhances Smart Transactions — a feature enabled by Consensys’ Metamask wallets.
Anuj Das Gupta, co-founder of STXN, remarked, "STXN is like a time machine because it allows us to guarantee the future when it comes to smart contracts. It enables us to retroactively improve what was known at the time these smart contracts were created. We believe this addresses the issue of flexibility versus immutability that blockchains face."
