Patract rebrands as a solution provider and initially collaborate with Acala to launch the Wasm Contract Open Platform

Patract recently sorted out several existing product lines, organizing and improving developer documentation. PatraStore has been released, which basically opened up the technical path of Polkadot Wasm contract development. We have also completed the integration of the first batch of 10 treasury proposals. In PolkaWorld’s interview with Councillors, Gavin Wood once said: “I think we are still in the early stages, but spending proposals of some development tools by Patract are quite interesting and well received.” We are going to start the next phase of the development plan and upgrade the official website. For details, please visit https://patract.io.

We have discussed with some parachains in the community recently, and they all believe that Wasm contracts are a promising infrastructure technology. However, the development of this new contract model by the Parity team is initially stable, and our Wasm development tool suite is not yet completed. Contract standards and resource models need to be fully discussed before they can be implemented. Therefore, several contract parachains in the community all support EVM compatibility as the main goal in the early stage at present, including Acala, Moonbeam, Plasm, ParaState, Clover, etc. This is indeed a solution to quickly start the ecosystem.

The Wasm contract requires a wider range of promotion resources because it is an infrastructure technology that will have an important impact on the Polkadot ecosystem. Our previous plan was to start the system parachain in the name of Patract and then promote this set of technologies to other parachains in the community. But it may cause some potential competition, and it is impossible to unite more community resources for promotion rapidly in the early stage.

Patract’s goal is to accelerate the transformation of the smart contract industry to the Wasm technology stack. We decided to no longer independently launch Patract Network as a system parachain, but instead focus on becoming a technical solution provider for Wasm contracts, and work with Parity and community parachains to improve contract models, contract languages and development tools, etc., to promote the establishment of Wasm contract open platform. Patract will only maintain the Jupiter testnet and build it into a template test chain, helping the community to design and develop on-chain contract modules and Runtime support, and provide free full-stack tools and service support for DApp developers.

A very important member of the Ethereum ecosystem as Consensys. In the past five years, they have successfully created tools and services such as Metamask, Infura, Truffle, and provided enterprise Ethereum, Codefi, Quorum, and other blockchain solutions, which greatly promoted the Ethereum ecosystem prosperity. Facing the emerging Polkadot Wasm contract, Patract is following the Consensys model to quickly fill up for the missing components of the ecosystem.

Acala is the DeFi Hub of the Polkadot ecosystem. Acala is ready to launch a parachain with a suite of applications including liquid DOT staking (LDOT), the Acala Dollar multi-collateral stable-coin (aUSD), and an AMM DEX. Acala has also custom-developed the Acala EVM, an Ethereum-compatible environment with full functionality of Substrate. At the same time, they are actively researching Wasm contract technology. Patract is going to first cooperate with Acala to promote the Wasm contract open platform.

We also welcome more parachain teams and DApp developers to join the construction of the Wasm. For cooperation discussion, please contact santry@patract.io.

About Patract

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About Acala

Acala is the all-in-one DeFi hub of Polkadot. The EVM-compatible platform offers a suite of financial applications including a trustless staking derivative (liquid KSM), a multi-collateralized stablecoin backed by cross-chain assets (kUSD), and an AMM DEX — all with micro gas fees that can be paid in any token.

Discord | Website | Twitter | GitHub | Acala Wiki | Newsletter

Patract is providing solutions for the development of Parachains and DApps in the Wasm smart contract ecosystem of Polkadot.

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