Recently, there was an announcement that Urbit is planning to upgrade its infrastructure using ethereum technology. Urbit has been using a network of
Recently, there was an announcement that Urbit is planning to upgrade its infrastructure using ethereum technology. Urbit has been using a network of P2P (point to point) that is also known as virtual real estate. Urbit has a certain connection to the blockchain technology, which has never been deployed on its infrastructure. For the past one year, Urbit has posted a test version of the upgrade on its website. In this case, this version will be upgraded to share ethereum technology.
The blog post of the company describes how ethereum’s smart contracts will work on the software. The ERC20, which is a standard for Ethereum tokens, allow the property owners to secure the holdings through cryptographic technology.
The official said that there are plans for Urbit to instantiate the land registry for the company’s address space. In this case, the ERC20 token is used to create a generic star and a voting system that allows self-governance. Moreover, the company creates template contracts used by galaxies to auction stars as well as distributing stars to the respective planets.
After the upgrade, Urbit will make the payments on the blockchain. Moreover, the company will create a web browser derived from ethereum’s code. Urbit has plans to deploy its security measures to Ethereum platform.
However, there are doubts about the integration of Urbit to Ethereum. Developers Galen Wolfe-Pauly and Curtis Yarvin say that the approach may not bring any benefits to Urbit. The developers are not happy about the Ethereum’s user experience. There are reports about the weak and unstable governance of the Ethereums platform. Also, developers have fears about dilution that may occur to the Urbit platform. However, Ethereum seems to have succeeded in achieving its business goals.
Urbit considers the Ethereums weaknesses as a challenge and is determined to move ahead with the integration plans. In this case, the potential users are waiting for the launch of ethereum-based tokens that will happen soon.