KIRIK- THE SEMANTIC META PROTOCOL
Overview The world of digital currency has since its inception, experienced tremendous growth and popularity in the global economy; thousands of cryptocurrencies exist and blockchain technology has been applied to various aspects of life. Most blockchain and cryptocurrency transactions function via smart contracts. Introduced in 1996 by Nick Szabo, smart contracts are trackable and irreversible computer protocols which aim to facilitate the execution of a contract or transaction digitally. In simple terms, just as the name implies, smart contracts make execution of transactions smarter. Smart contracts achieve this by the elimination of third-party intermediaries. Although smart contracts offer immense advantages when compared to conventional contracts, it also has its own shortcomings. The major problem with smart contracts is that they are slow to execute, coded by programmers and are thus difficult to understand to the normal man without programming experience. By utilizing...