Coreum Goes v4: Smart Token Extensions, IBC Hooks, Dynamic NFT Data

The latest Coreum Network Proposal is designed to enhance the ecosystem’s functionality, security, and user experience. Here are the key changes and additions, categorized for clarity.

Smart Token Enhancements

• Extensions: You can now attach a smart contract to Smart Token, unlocking endless possibilities by executing custom code before and after any action. This feature enhances the flexibility and functionality of Smart Tokens, allowing for more sophisticated token behaviours tailored to specific use cases.
• Zero Precision: Smart fungible tokens can now be created and managed without fractional units. This provides greater flexibility in tokenomics design, especially for use cases where whole units of tokens are more practical and desirable, such as in reward systems or digital collectibles.
• Clawback Feature: The clawback feature allows issuers to retrieve fungible tokens that have been distributed under certain conditions. This is particularly useful in scenarios where tokens were sent by mistake or need to be reclaimed due to regulatory requirements or terms of service violations.
• Role Separation: The separation of admin and issuer roles enhances security and governance by distributing responsibilities. The admin role typically handles administrative tasks and permissions, while the issuer role is responsible for the creation and issuance of tokens. This separation helps prevent conflicts of interest, reduces the risk of misuse, and allows for more structured and secure management of token operations.

Development Enhancements

• Go.work — A file used by Go (a programming language) to manage multiple modules within a single workspace. It simplifies the development workflow by allowing developers to work on several related modules simultaneously, without needing to switch contexts or manually handle dependencies between them. This makes module management more efficient and streamlined, facilitating better organization and coordination during the development process.
• Generate-devnet — A CLI command is a tool introduced to facilitate the setup of a development network (devnet) for Coreum. This command allows developers to quickly and easily create a local devnet environment, which is essential for testing and development.

Dynamic NFT Data

The update has enabled NFT data modification, allowing for dynamic changes to NFT properties.

This flexibility is crucial for NFTs that represent evolving assets, such as game items or digital art that can change over time. Complementing this, dynamic data proto files have been introduced, supporting more advanced and sophisticated NFT functionalities. This enhancement caters to a wide range of evolving use cases and user needs, ensuring that NFTs can be adapted to meet the requirements of various applications and scenarios.

Security and Compliance Enhancements

Ledger and WASM Updates:

• Cosmos Ledger Library Update: The Cosmos Ledger library has been updated to v0.12.4, resolving CLI integration issues. This update enhances the usability and security of Ledger hardware wallets with the Coreum network.
• WASM Behavior Modification: The behavior of WebAssembly (WASM) has been adjusted to automatically burn the vesting balance when instantiating contracts. This change increases the security and efficiency of contract execution, preventing potential vulnerabilities associated with unburned vesting balances.

These comprehensive security and compliance enhancements demonstrate Coreum’s commitment to providing a safe, efficient, and trustworthy blockchain environment for all its users.

Ecosystem and Interoperability Enhancements

The v4 update brings significant advancements to ecosystem interoperability, improving cross-chain communication and more third-party integration possibilities.

IBC and OpenAPI Enhancements:

• IBC Transfer Module: The IBC (Inter-Blockchain Communication) transfer module has been added to the OpenAPI specifications, enhancing documentation and usability for developers working with cross-chain transactions.
• IBC Hooks Integration: Integrated IBC hooks to facilitate more seamless and efficient cross-chain communication, enabling better interoperability between Coreum and other blockchain networks.
• Packet Forward Middleware: Integrated for more efficient cross-chain packet forwarding, enhancing interoperability and transaction efficiency. This ensures smoother and faster cross-chain communications.
• Interchain Accounts: Enabled for seamless cross-chain account management, allowing users to manage accounts across multiple blockchains more effectively. This simplifies the user experience and improves cross-chain interactions.
• Cosmos SDK Update: Upgraded the Cosmos SDK to version 0.47.8, incorporating the latest features, improvements, and security enhancements from the Cosmos ecosystem.

These updates strengthen Coreum’s position as a highly interoperable and developer-friendly platform, fostering a more connected and integrated blockchain ecosystem.

Other Improvements

CI Enhancements:

• Cleaned temporary CI fixes.
• Integrated Codecov for better code coverage analysis.

Testing Improvements:

• Restored and enhanced governance integration tests.
• Increased vesting timeouts for smoother devnet testing.

The Coreum Network Proposal v4 introduces significant improvements and new features that enhance the Coreum ecosystem’s development, security, and interoperability. These updates reflect the ongoing commitment to innovation and user satisfaction. Coreum is excited for the community to experience these enhancements and look forward to continued growth.

Feel free to share your thoughts and feedback in community channels.

About Coreum
Coreum, the world’s first Superledger. A 3rd-generation, layer-1 blockchain architected for enterprises of any size, from startups to large corporations. Providing a remarkable transactional speed of up to 7,000 TPS and ISO20022 compliance ensures expedient and economical transactions across a swift and secure PoS network.

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