Digital Asset’s DAML Smart Contract Language Roped in to Develop Applications on Corda

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Digital Asset CEO Yuval Rooz stated that DAML is on track to gain a major market share as far as smart contract language is concerned.
  • The language helps build powerful contracts that are easy to write and efficient to deploy. It aims to increase the productivity of smart contracts by overseeing various activities like cryptography, application distribution, and hashing.
  • Several nuances with blockchain and encryption are resolved with DAML smart contract language.

With an undisclosed amount of investment by VMware in Digital Asset, the latter stands to have raised $150 million after the Series C round of funding. The research and development team at Digital Asset is keen to seize the smart contract market with DAML. Furthermore, DAML is now available to be used in application development in R3’s blockchain network Corda. 

The Rationale Behind DAML

Digital Asset CEO Yuval Rooz stated that DAML is on track to gain a major market share as far as smart contract language is concerned. Additionally, the language is reportedly being made available across ledgers. The current version is only open to developers across the globe. The enterprise version will allow businesses to switch blockchain networks post successful implementation. Hyperledger Fabric, Sawtooth, Besu, and Amazon’s QLDB are some of the enterprises that are allowed to use DAML as their smart contract language.   

The business approach is commendable with the firm’s networking capabilities allowing them to reach newer horizons in-smart contract language sector. The DAML language helps build powerful contracts that are easy to write and efficient to deploy. Time consumption is significantly reduced with a close-knit infrastructure that is affordable. It aims to increase the productivity of smart contracts by overseeing various activities like cryptography, application distribution, and hashing. 

The Programming Language To Modernise Any Business

The open-source functional language inspired by Haskell has a long term goal to integrate itself with numerous distributed ledgers. It also seeks to provide support to non-DLT solutions for a better reach. Software Development Kit is also available as an open-source for developers. Several nuances with blockchain and encryption are resolved with DAML smart contract language. 

Although experts opine that the language is proprietary and sufficiently constrained with numerous hurdles ahead, it is not yet familiar among developers as it will take time for productivity to kick in. The language will help automate numerous businesses with efficient smart contracts along the way. The combination of Corda as the infrastructure provider and running applications through DAML is quite lethal and a superior business strategy. 

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