Sagewise Pioneers Dispute Resolution for Smart Contracts 🚀🌐🤑🌍
Sagewise is the safety net for the growing world of smart contract needs, providing a first-of-its-kind toolkit for errors and disputes in smart contracts. Smart contracts are often created by a developer and audited by a security firm. However, the quality of smart contract coding and auditing varies drastically among service providers. Since the teams that use such services are usually, by definition, non-technical or at least non-native to the blockchain, they lack the skill set to audit the smart contract codes themselves. They must rely completely on the honesty and competence of the vendors they contract to build their tokens. Many smart contracts contain errors that will cause them to behave differently in practice than their creators intended.
And yet, hardly anyone is talking about what happens when a smart contract does contain an error, or if an unforeseen circumstance arises in which none of the predetermined outcomes of the smart contract are appropriate. It is inevitable that smart contracts, despite their power, will require dispute resolution from time to time. But the current architecture mostly leaves parties with no recourse. This is a major problem for crypto markets that have the potential to result in very significant problems for space if we fail to provide a solution.
The Sagewise team is the first to address this issue in a unique way. A smart contract contains a coding error or security vulnerability which goes unnoticed by either its creator or an auditor, Sagewise provides users with a third layer of protection. This layer offers smart contract monitoring, notification, and freezing—like a bank’s fraud alerts—to ensure that the execution of a smart contract reflects a user’s intent.
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