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Last month Meta announced the sale of its Diem stablecoin to Silvergate, a major bank in the cryptocurrency space. (See our recent report for a detailed review of this sale and Silvergate.) Silvergate operates the Silvergate Exchange Network (SEN), an active 24/7 transmission system used by many top cryptocurrency exchanges. Silvergate plans to use the Diem infrastructure they acquired to launch a dollar-backed stablecoin for SEN.
What Is The Move
An important part of the Diem package, for which Silvergate paid about $200 million, is the Move programming language. Much of the reason why the Diem project (formerly Libra) lasted so long on Meta was the creation of a special programming language for cryptocurrencies. In this article, we'll look at the highlights and future uses of Move as Silvergate maps out Diem's future.
Why Is It Important And What Is The Move Indicator?
Before we go any further, we need to define some basic vocabulary. Please note that this article is quite technical in nature.
Programming Language - "A set of commands, instructions, and other syntax used to create a software program." Move is a programming language for Diem that allows you to build both the core functionality of the cryptocurrency and future applications for Diem.
Blockchain - "A digital database containing data (such as records of financial transactions) that can be used and shared simultaneously in a large decentralized, publicly accessible network." Blockchains power cryptocurrencies, creating immutable ledgers of transactions. Consensus must be reached before transactions are committed to the record.
Blockchain Trilemma - Difficulties in achieving security (resistance to attacks), scalability (ability to grow), and decentralization (distributed across geography and users) for blockchain networks. Until now, blockchains have struggled to achieve these three goals. Many of the best blockchains today, such as Ethereum, are secure and decentralized. However, this leads to slow speeds and high transaction fees, which has a negative impact on their expansion. Diem, like most blockchains, aims to solve the trilemma. Movement is a big part of this solution
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Linear Logic - A system of mathematical logic created by Jean-Yves Giraud in 1987 that emphasizes formulas as resources rather than absolute truths or the need for complete proof. The main change is that resources can only be used once, instead of being considered permanent. (ie "A can be replaced by B" instead of "If you give me A once, I'll give you B once.") This makes linear logic useful in computer science, where a formula is limited by a resource rather than treats . allowing for more diverse systems as a universal truth.
Resource - The basic unit of linear logic systems. In migration, "a resource can never be copied or implicitly deleted, only moved between program storage locations." The need for tokens, ledgers and other blockchain elements to be persistent is why linear logic is used to build the Move language, especially resources.
Move is a programming language designed for the Diem Blockchain. Both Move and Diem were created by the Diem Association, a technology consortium backed by Meta. The Diem project, including the Move language, was recently sold to Silvergate.
Move's executable format is “bytecode at a higher level than assembler, but at a lower level than source language. The bytecode is checked up-chain for resource, type, and memory safety by the bytecode checker and then executed directly by the bytecode interpreter. This mechanism is designed to increase security without adding transaction compilation costs, minimizing gas fees compared to Ethereum. This is an example of how Move tries to solve the trilemma through its design.
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A key factor that distinguishes Move from other programming languages is its use of resources derived from the mathematical idea of linear logic. In linear logic, formulas are treated as basic resources that can only be used once. After that, in Move, "a resource can never be copied or indirectly deleted, only moved between program storage locations." Migration allows developers to code individual resource types that are treated as "first-class" and cannot be duplicated or deleted.
This is made possible by Move's static type system. This means that variables in the programming language must be defined as a specific type (ie, number or word). In Move, this system preserves the premium nature of resources. However, resources can still be used like any other, less protected item. They can be stored in data structures or passed as arguments to procedures (represented as values to be used for calculations).
All this means that resources in Move enjoy a high level of security and expressiveness. They are protected within the code, but can be freely used for all kinds of operations. This combination is perfect for blockchain programming because it addresses both the security and scalability aspects of the trilemma. Currently, "Diem coin, transaction processing and validator management" are encoded as resources with Move.
The Move white paper provides a clear list of motivations for the language that informs its design. They also point to the challenges of building public blockchain systems, which affect not only Move, but all blockchain programming languages.
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They basically state that Diem (Libra) should be an "open system" where anyone can see the state of the blockchain and submit transactions. This is fundamentally different from traditional asset management software such as digital banking, as these are deeply closed systems. Access is possible only with special permissions (there are many levels of them) and transparency in relation to other users is extremely limited.
But in blockchain "all participants are equal". This creates a number of challenges. Essentially, it prevents the introduction of invalid transactions, such as one user trying to transfer property to another. Additionally, blockchains must address two aspects of traditional currency that are difficult to implement in software. The first is scarcity; the duplication of assets should be prohibited and the creation of new assets should be privileged. (This privilege is particularly difficult to enforce in an egalitarian, open system and greatly limits the decentralization of such a system.) Second, access; the user's ability to control and protect their assets is of paramount importance. The use of reserved, premium resources in Move is largely an attempt to address these scarcity and access issues.
The engineering team cited three main problems they found with existing blockchain languages, specifically Bitcoin Script and Ethereum Virtual Machine (the main programming languages for Bitcoin and Ethereum, respectively).
Since programming is done mathematically, many different elements are represented as integers. This includes blockchain assets such as Bitcoin and cryptocurrencies such as Ethereum. Move engineers felt this made writing crypto-based applications "clumsy and error-prone". That's why Move Diem presents it as a resource.
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The language of Bitcoin and Ethereum is doing a good job of maintaining the scarcity of major cryptocurrencies. However, languages are not well designed to create new low quality assets. This is a special issue for the Ethereum Virtual Machine, which allows the creation of ERC-20 tokens based on the Ethereum blockchain. In these cases, developers must design their own loopholes without language support. Move tried to change that.
As with scarcity, Bitcoin and Ethereum tightly control access to their underlying cryptocurrencies so that ownership and transfer are not compromised. However, this does not extend easily to other elements, nor can the level or access tools be adjusted. As with Scarcity, Move engineers tried to make these features more extensible and customizable to make the language more versatile and scalable.
The permissioned blockchain powered by Meta and owned by Silvergate is the ultimate testing platform for Diem. Our motivated testnet, Move VM smart contract platform, and low-code development tool allow you to start building Blocks Diem. Silvergate offers a head start to developers who want to develop projects for the Meta exchange network and metaverse.
Don't forget to follow us on Twitter, subscribe to Medium and connect with us on Telegram to keep up with our work. Have you heard of the Florida Relocation Act? There are significant risks at highway and interstate traffic stops, and many law enforcement officers and workers have been injured and killed due to these dangerous conditions. Forty-three states, including Florida, have enacted "Time Out" laws to combat these preventable tragedies. Florida Statute 316.126 describes "the operation of vehicles and the actions of pedestrians when approaching an authorized emergency, sanitation, or utility vehicle," and we summarize the statutes below.
Cheapest Ways To Move A Short Distance Or Locally
The first section of the Florida moving law describes how a driver should react when he hears and sees the immediate approach of an authorized emergency vehicle. A driver who hears a siren:
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