Trustless Contracts

Trustless Contracts on Trustless Hub are secure, self-executing CosmWasm smart contracts. They also benefit from encrypted inputs. Encrypted execution protects dApps and end-users from front-running. Trustless Contracts are private-by-default to perserve user privacy. Time-based execution extends Web3's functionality. Trustless Contracts can be integrated with all IBC-enabled chains. 

Why  build with Trustless Contracts?

Smart contracts enable decentralized applications, where data is immutable and users can trust the data to be real and uncensored. Still, smart contracts are far from perfect as current smart contracts on major blockchains are fully public, data is stored indefinitely. Right now, developers cannot guarantee any kind of privacy when interacting with their contracts. Anyone can view user inputs. Users lose funds because smart contracts have no predefined end date. Stakeholders may not develop enough trust to interact with the contract as the data is public and the contract end date is unknown. Yet, so far no easy way exists to build contracts with private user inputs, deterministic outcomes and automatic time-based actions to cope with these problems. In order to truly build trustable contracts, developers need to program contracts that can be private and have Automatic time-based functions.

Chains and CosmWasm-based apps extend their functionality by integrating with the Trustless Hub over IBC. Trustless Contracts enable existing apps to have the Trustless Contract features. Out of the box, recurring transactions, remittances and payroll are possible by adding a line of code.

Feature-rich decentralized apps are possible through Trustless Contracts  because

• Encrypted inputs ensure privacy of all users

• Predefined time-based execution with one line of code

• 1-click recurring transactions

Use cases

1. DeFi - time-based trading  

On Trustless Hub DEX users can automatically swap tokens dependent on price changes. With AutoSwap users set a strategy for the swapped token. It can be discarded by decreasing allowance or by moving the tokens. 

2. Recurring payments with one approval (Remittances / Payroll / Invoices) 

Pay family-members, employees and contractors each day/week/month, without exposing privacy-sensitive data. Recipient can be paid in desired currency and can continuously earn yield. 

3. Gaming

Games can use the private inputs, private state, time-based execution and verifiable outcomes to create exciting new games. In-game ‘fights’ of 2 creatures require players not to see the other person’s creature’s strength and health, so this data should remain hidden until after execution. Games can also create time-based rewards for the users. For example if the user unlocks a badge and still owns the badge at a certain time, it gets a reward. 

4.Auctions - Private bids, automatic redistribution and private contact detail sharing

Biddings are unknown to all, and private information can be shared to the interested parties. Can end at specific time and funds are then automatically redistributed. 

5. Private peer-to-peer NFT transfers from public to private accounts

Transfer tokens/NFTs at a certain time and when it meets certain conditions. This NFT could have private characteristics and user data like a phone number and email address attached, to be shared with the buyer.

6.Valuations and independent prices - private estimations and auto deposit return

Estimation data such as the valuation and comments are unknown to all during the estimation period, then made public when the estimation period ends. Estimators can be rewarded based on how close they are to the mean/median of the bids in the private state. 

7. In-private content sharing with micropayment (News sites/Journal/Scientific articles/videos)

Sharing of private knowledge, with a proof recorded on-chain. Contents may be released given certain conditions at a specific date and time.

And much more...