Publication Date: 2021/08/27
Abstract: While immutability is Blockchain's much celebrated covenant, change is the rule of life. The paradox has seriously limited real-world deployability of Smart Contracts (SC), faltering its mainstream adoption. Once implemented, SC remains unstoppable even if its execution makes losses, as evident in the recently exploded $40+B DeFi industry. How do we reconcile the two and make DeFI/Blockchain profitable and sustainable? A DISC (Dynamic Immutable Smart Contract) hypothesis was proposed to resolve the paradox. Using an existing decentralised IoT device framework we test the DISC hypothesis, by designing/implementing a DISC protocol that delivers an algorithmically controlled dynamic off-chain data feed into a self-executing SC. The experiment successfully introduced limited dynamism into SC without compromising its immutability or undermining user control over their SC terms. If consistently reproduced in diverse settings, the DISC protocol could earn an important milestone in the evolution of Blockchain's decentralised economy of the future.
Keywords: Blockchain Paradox, DISC Hypothesis, Dynamic Immutable Smart Contract, DeFi, Oracle, Smart Contract, Immutable, AI, DISC-on-the-fly.
DOI: No DOI Available
PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT21JUL1240.pdf
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