Altcoins: The "Dead" Ethereum Protocol We Use (Why You're Wrong About ERC777) 🤫

So as you guys know the sentiment in the market is pretty bad and if you look at the charts you know Ethereum has been doing so poorly you know down 30%. Is it the end of the world? What is happening? And uh you know it seems like everyone is focused on the price and I feel like people aren't really looking at development and you know behind the scenes DeFi world is just evolving. I think uh you know AI it's just going to have this gigantic explosion of new smart contracts, new utility you know and AI is like really helping and I feel like you know as a developer in smart contracts uh there's all these annoying tech debt problems right and um you know they've been piling up for quite a few years and I would just put them off and um you know maybe earlier this year what we did is uh just take all of our old smart contracts s that uh we wrote, smart contract tests that we wrote and um migrate them to hard hat. And as we were doing this, in the middle of our migration, hard hat goes from V2 to V3. So hard hat is this uh set of tools that allow you to uh unit test your smart contracts, right? So you can run them through a lot of um potential exploits. You know, you want to make sure that your tokconomics are right and you know, we have a lot of tests. Right now we have 89 tests. So migrating them from version two to version 3 was just challenging and you know I would put it off. And then Gemini 3.0 came out and every time a new model comes out uh the first thing I want to do is uh just you know run it through our tech and just see how far we can push it. And I feel like um you know it uh it really came back I would say for the first time uh you know just asking it hey uh you know we're trying to do this version two to version three try it out uh you know what what do you think and as was trying it you know run multiple issues and one of the issues is the standard of tokens that we're using in Ethereum uh is not ERC20 and by the way the whole point of this video is just to show you guys like This is one project with almost no following and these are the things that we're solving in in you know on Ethereum and DeFi and I feel like people don't even know. So anyway, going back to the migration um so we were using this ERC77 uh standard which was created in 2017. the proposal was in Ethereum and eventually got accepted and they created basically this token that was amazing and it had this amazing functionality to extend smart your functionality of smart contracts, right? So, what you could do is you could attach hooks into various functions. So when you're moving money, let's say you can uh um you can specify an operator. An operator will be able to um act uh or interact with your funds. And if you think about it, majority of smart contracts, the tokconomics are revolving around tokens. And basically we took this idea and we're using it to code in a decentralized manner. And what I mean by this uh usually when you deploy a smart contract the only way to update it or add any new logic to it is really to do proxies right and upgradeable proxy and basically what you're saying is uh you know it's a smart the smart contract can point somewhere else and that's going to be our smart contract. Well in reality that's not decentralized enough. Um and uh yeah it's just uh you know the true decentralization in my opinion is uh you know no one can uh touch a contract. There should be no right permissions at all and uh yeah I mean that's the path we we've taken and you know we we picked this was the cutting edge technology at the time I would say. I'm very happy that we did this. uh it allowed us to do a swap uh from one token to another and we didn't have to worry about uh getting our token right the very first time because you know my idea was always that I could just take a token uh which is so if we go to our tokens right here so for the very first token this one was the swap right we we just give out a bunch of them tokens to everyone that help BW work and um there was another token got the name So that was like a very fair swap because you were holding one token, you got exactly one uh one uh token of them. So then we what we did is we we're working on tokconomics for flex uh during uh all this time and the idea was you know we'll do the swap for them and then eventually we'll enable flex and if there's a problem we'll be able to give people their funds back. And that's why we had like a fail safe in the smart contract and as you can imagine as your tokconomics increase uh in complexity you need to do more unit tests. So I'm really glad in beginning you know we took the time followed best standards wrote some tests and uh back then this was using something called drizzle that was the the name of the smart contract testing framework and you know like 5 years later of course there's going to be some new and uh more modern changes so that's why we had to migrate to hard hat but I didn't want to do any of these things like you know you have a unit test that are working why do you need to migrate your whole uh stack, right? Just it's pain and you know, you don't have time for that. Like, yeah, sure, it's great, but there's just no time. And this is why AI is so amazing for people like me. It just takes care of my tech debt, right? So, I don't need to spend time, you know, or spend spend effort on these things. I can just let AI do it. While it's doing it, I can focus on other things, more important things. Um, and you know this is just a testament to how far AI is like evolved because you know you would think like it replaces developers and I would say it augments developers at this point right so it's like you can have a team of engineers under you that are performing some very complicated tasks and then you're just like okay yeah I mean that's pretty good like okay you're getting stuck here or you know this is how you would solve it. Okay, let's do some new patterns. So, yeah, these are all things that uh you know, I've used used it for and nowadays with like Google anti-gravity, you know, it's it's just amazing. I I just cannot stress this enough. You know, I've been able to just take a month or two to go through all of our contracts. Um, you know, like go through our decentralized dashboard. Uh recently we did this like gigantic commit where we migrated uh you can see here this pull request. This was ma massive amount of work right like we so basically in in this um patch we upgraded the state management to zoo stand which is like more modern you know and everyone would know it and we had some custom stuff and I you know I I I'm trying to get basically move away from custom stuff into more modern technologies and the reason why is because I just want to attract more developers right so I just of course I cannot live forever right and my idea is if I at least leave something for for other people you So it's like I'll give you an example you know if someone were to give you something in cobalt no one you know it's very difficult like the only way I would read cobalt is to just give it to AI and be like hey you know what is this like figure it out what is it doing and give me a summary or rewrite it in like typescript [laughter] so yeah just the more modern technologies I would say they'll just scale better and you know they'll be more performant and of course it's the future and things get outdated like even here for example you can see you moment.js which was like a super popular framework for for time uh date date and time management and guess what it's gone like you know and now now now people are using day.js and the reason for that is because like for example day.js JS is smaller and it's immutable. So, you know, moment is just like object-oriented and it was just yeah, it just shows you that functional programming is just, you know, it's amazing. I'm just so happy. You know, I I have like a lot of C# background. So, to me, TypeScript is always just amazing. Uh yeah. So, like you can see just a lot of changes. Uh and this is I would say part of it. There's a second part of it coming very soon. So yeah. Um but yeah, that's pretty much it. I just wanted to say Ethereum is um it's definitely growing and people are just not realizing this. And uh you can, you know, you can actually see uh people will u see if I can play this here. See? Okay. Yeah, I don't have MetaMask here, but um yeah, if you just look here, for example, so you know, we're still we still have like $100,000 in liquidity while Ethereum is 50% down, right? So, to me, I'm not really feeling like we're losing anything at this point just because our liquidity pool is backed by 100% Ethereum, you know? Just to me, this is just normal volatility. And if you look like for example data mine token is actually doing really well you know it just keeps going up and I'm not going to jump into that but I just wanted to show you guys there's a lot of things happening behind the scenes and this is just one developer right and for someone like me AI has just made everything 10x faster right um I I can just have an idea uh you know I talk with AI and we have a trip and the more modern the technologies like you know we content delivery and reusing like the latest and greatest and pretty and lanter and these are the things that you know I've always wanted. I just didn't have time to do it. So I'm just glad you know I can just sit down with say and be like hey let's you know let's add prettier oh let's add the yes lint right and and then it goes and figures out like oh yeah in the version six to version 8 of llinter now the format of the file has changed like I don't need to know that like I don't want to go to llinter website and figure this out. So anyway, that's that's it for this update.