Smart Layer (SLN): Scaling Token Functionality from Assets to Services

Smart contracts have ushered in a new era in the blockchain industry since their inception in 2015 on Ethereum (ETH). They elevated blockchain from a simple medium for asset transfers and storage to a complex ecosystem of decentralized applications (DApps) in areas like finance, social media, gaming, identity management and beyond.

Despite their revolutionary impact, smart contracts struggle with some inherent limitations. First, they operate within the confines of their hosting blockchains, offering limited utility for interaction with Web 2.0 platforms. Secondly, interoperability between blockchains with different smart contract formats remains a challenge. Additionally, smart contracts are less efficient at supporting self-contained dynamic assets, such as dynamic NFTs.

In essence, while smart contracts add programmable logic to blockchain operations, their functionality primarily caters to traditional crypto asset operations, such as swaps, transfers and mints. A newer blockchain technology, smart tokens, effectively addresses many limitations of smart contracts. These tokens feature embedded programming logic and scripts, transforming them from conventional blockchain-based assets into executable services.

At the forefront of powering the new smart token technology is Smart Layer (SLN), a distributed network that serves as a connecting layer between blockchains and web applications leveraging smart tokens.

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