Gnoland is another masterpiece of Jae, founder of cosmos, which complements the ecosystem of deploying smart contracts in cosmos. Let's learn about this new blockchain.
What is gnolang？ Standalone L1 smart-contracting platform. Contracts written in Gno. Interpreted code, not WASM. Upload sources, not binaries。 Completely deterministic,for complete accountability. Transactional persistence across data realms. Designed for concurrent blockchain smart contracts systems.Designed for inter-blockchain.
Solving problems with Gno 1 . lack of transparency; 2 . lack of fairness & justice for real contributors/coders; 3 . a simpler way to build scalable smartcontracts.
Sustainable Token Model Gnoland on the other hand, is looking to adopt a dual token model similar to the initial Cosmos idea where the “fee utility” is stript off from the governance token. The dual token model will have the following advantages over the single token model:
1 . The dual token model mitigates the operational risks by offloading the governance responsibilities from the end-users to nodes, validators, and network stakeholders who have an actual understanding of the blockchain. 2 . The point of the governance token is to be staked on the Network for the security of the blockchain. What’s ironic about a single token model is that the more traction a blockchain gets, the more tokens are likely to get unstaked to be used as gas fees, which leads to a decrease of the security of the Network. Having a dual token model addresses this issue. 3 . A fixed-constant-inflationary fee token that’s solely dedicated to fueling the contracts of the blockchain will allow users to hold the token in a wallet for future usages without worrying about the value of tokens getting inflated away.
At present, the project is still under development. I'm glad to participate in the test of the project. If you are also interested in gnoland, join us