Every UP Needs a Bodyguard - The Daily Pink Pill #5
It's called LSP 1 - The Universal Receiver
To quote jkwest.eth, “It pisses me off that I have a vault with a clone and a mnlth but there’s 15 scam NFT’s in there people have sent. I want that shit to look clean.”
We all do Mr. West, We all do. Luckily the new smart contract ecosystem architected by the team at LUKSO includes a generic standard aimed specifically at solving this type of problem: LSP 1 - The Universal Receiver.
The Universal Receiver actually does far more than just protect our Universal Profiles from scam NFT’s, but from a memetic standpoint I think it’s a great entry point for discussion.
In his medium post entitled LUKSO Ecosystem Part 2 LUKSO developer Felix Hildebrandt makes a discussion of the Universal Receiver Delegate - LSP 1 and mentions a coordinating standard LSP 5 - Received Assets. Here are his thoughts,
“LSP1: Universal Receiver Delegate
EVM smart contracts, like custom tokens, are limited in their awareness of incoming transactions, and wallets are unaware of what is waiting at the destination of their outgoing transactions, which could be another wallet or a smart contract. Mistakenly sending tokens to a smart contract that isn’t meant to receive one can easily result in losing those tokens. Blockchains must have safety measures to prevent this and achieve mainstream adoption.
The Universal Receiver Delegate interface is a standard for message handling that acts as a transaction notification system. The standard allows smart contracts to receive notifications about the details of incoming and outgoing transactions. This system provides developers with a variety of options for programming actions in response to these notifications, such as:
rejecting/approving transaction
notifying users or other smart contracts of incoming assets
specifying specific assets to reject or approve through a safelist
forwarding notification to another smart contract
delegating custom actions to smart contracts in response.
Received Assets is a standard that works with a Universal Receiver Delegate smart contract. It defines how received assets are written in the user’s profile so apps and interfaces can automatically determine which assets the user has received. The method allows for a decentralized way to show a profile’s portfolio without the need for third-party block explorers. Additionally, approved applications and smart contract protocols could start chains of contract actions on specific incoming assets, adding even more utility.
The receiver can also be upgraded, allowing the code to be changed to support future asset types. Considering the colossal vision of the Web3 data economy, creating notifications for every token type produces hardened and future-proof smart contract accounts.”
I agree with Felix, using the blockchain needs to be safer. We need to find ways to create a user experience that is flexible enough to honor not only the technically inclined but the average person as well.
The LSP suite of smart contract standards as architected by the team at LUKSO are meant to facilitate adoption of blockchain technology by creating infrastructure upon which an ecosystem of beautiful dApps can be built. These dApps will implement LSP - 1 and in so doing will advance this industry forward into a new and exciting frontier.
In case you haven’t heard…It’s time to BUILD UP.
Thanks again for taking the time to visit the office, and I will see you again tomorrow the “week”daily dose of Pink Pills.
Today’s Pink Pill Prescription:
Take the Pink Pill and listen to the Defiant Interview with Fabian. If you aren’t bullish yet, you will be!
