AVOUM

AVOUM - Account View on UTXO

Our innovative AVOUM technology (Account View On UTXO Model) can enhance existing or future Blockchains to combine the best of UTXO and Account models.
By having us port AVOUM to your UTXO blockchain, you can have all the benefits of Account-based smart contracts (like Ethereum), with a relatively simple change to your UTXO’s “mempool” protocol, without any change to the consensus protocol itself.
AVOUM involves intentionally malleable transactions and malleation scripts with which miners automatically rebase transactions on top of the contract’s latest state UTXOs. It also includes Thallel verification of transactions of UTXO blockchains.
Open smart contracts, where the exact outcome of the smart contract is “open” when the smart contract begins, are at the heart of many of the most interesting DeFi projects. Such open smart contracts are straightforward to implement on blockchains that use account/balance accounting, but come with eUTxO blockchains make fees predictable, but make it difficult to implement and scale open smart contracts.

AVOUM - Account View on UTXO

Our innovative AVOUM technology (Account View On UTXO Model) can enhance existing or future Blockchains to combine the best of UTXO and Account models.
By having us port AVOUM to your UTXO blockchain, you can have all the benefits of Account-based smart contracts (like Ethereum), with a relatively simple change to your UTXO’s “mempool” protocol, without any change to the consensus protocol itself.
AVOUM involves intentionally malleable transactions and malleation scripts with which miners automatically rebase transactions on top of the contract’s latest state UTXOs. It also includes Thallel verification of transactions of UTXO blockchains.
Open smart contracts, where the exact outcome of the smart contract is “open” when the smart contract begins, are at the heart of many of the most interesting DeFi projects. Such open smart contracts are straightforward to implement on blockchains that use account/balance accounting, but come with eUTxO blockchains make fees predictable, but make it difficult to implement and scale open smart contracts.

The Two main Issues We Solve

“Open” contracts with an unlimited number of participants or transactions can be subject to economic DoS attacks whereby sophisticated attackers can modify the contract’s UTXO faster than the victims can react, thus blocking them from interacting with it. By making these transactions suitably malleable, intermediaries (at equilibrium, miners) can compete to get the transactions accepted by the blockchain in exchange for a fee.

Writing UTXO unlocking scripts wherein transactions are suitably malleable enables users to interact with contracts as if the blockchain were using an Account/Balance model; but applying the design pattern by hand requires a great discipline and the result may or may not be recognized by the transaction posting intermediaries (miners). Our solution is to automate this discipline away using a suitable library.

We at MuKn can also port a variant of AVOUM to add UTXO support beneath Account blockchains, thereby enabling faster validation of past transactions and synchronization of nodes in parallel; by contrast, synchronizing a full historical node on Ethereum currently takes many weeks or months.