Welcome to the Monax Explainers homepage. Get familiar with the concepts behind blockchain applications by reading one of the articles below.
- Ecosystem Applications
- Permissioned Blockchain Networks
- Smart Contracts
- Legal Engineering
- Dual Integration
- Smart Contracts v. Tokenized Approaches
What Are Ecosystem Applications?
Ecosystem Applications are applications that run on an ecosystem (or, network) level. They seek to automate processes at the value chain level thereby providing a framework on which to build complicated and connected networks that seek to reduce costs and open new opportunities for value creation.
What is a Blockchain?
Blockchains have their origins in cryptocurrency platforms, in particular bitcoin, where they represent historical records of verifiable monetary stake. They were designed in the first place to solve the double spending problem, that is, to establish consensus in a decentralized network over who owns what and what has already been spent.
What is a Permissioned Blockchain Network?
The first primary difference between a properly conceived permissioned blockchain network and an unpermissioned blockchain network is whether the participants in the network have an ability to restrict who can participate in the consensus mechanism of the blockchain’s network.
What are Smart Contracts?
Smart Contracts are blockchain housed scripts which represent unilateral promises to provide a determinate computation based on transactions which are sent to the script.
What Is Legal Engineering?
At its simplest, legal engineering is the practice of writing smart contracts that automate legally-enforceable rights and obligations.
What Is Dual Integration?
Dual integration is the process of integrating a specific legal contract into a specific smart contract running on a distributed data store, such as Monax.
Smart Contracts v. Tokenized Approaches
Current blockchain design largely focuses on providing its utility in the enterprise context via “tokenization”, but there are a few challenges to crafting blockchain backed systems which overly rely upon tokenization.