Joule introduction. Decentralised contract invocation system

To be sure your smart contracts will be executed, our team created the «Joule» — decentralised contract invocation system.

Image for post
Image for post
Our system does WORK for calling other contracts. That’s why it’s called Joule (Physicist/unit of energy).

A simple deploying of a contract in Ethereum is insufficient — an external call is needed to initiate conditions invocate and funds transferring. A contract itself is not self-sustained. Therefore, to call a smart contract is an event as important as contract creation.

Our team created contract invocation system based on a decentralized solution, making MyWill unique platform among other blockchain based technologies. Whether MyWill system is up or not — your smart contract is guaranteed to be activated.

Sounds as a tough task to realize, but it’s actually all simple. Basically, Joule is a controlling contract located in the Ethereum network. Joule has information about call sheduling of every smart contract in its array. When it’s time to be performed for a certain contract, Joule makes a call and the activation begins. The controlling contract is available to be called by MyWill platform or by any other network user. Obviously, regular addressing one contract instead of chaotic calling of an independent multitude is effective and rational.

Image for post
Image for post
Joule system

To motivate calling the controlling contract, we set reward in ETH for the first user that made a call within a certain time interval. We also consider a model of distribution the remuneration among all calls within a single block. Such approach is a proven solution for Ethereum.

When any contract is created, it automatically registers itself with the controlling smart contract, specifies the amount of remuneration for the call and the call date. Every time Joule gets called by MyWill or any other network user, it initiates call invocation according current time and begins executing matching contracts.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store