Making Smart Contracts Simpler: Learn How to Delegate Smart Contract Calls with OpenLaw
In an effort to speed up development time, OpenLaw’s protocol now gives you the ability to nix the additional website building when it comes to smart contract delegation.
One day over drinks, your wild-eyed and disorganized brother proposes the idea to invest in his growing business — called “Super Zen Extreme Cycle”, the most transformative one-hour virtual biking class that will leave you fitter and more zen than ever before. Now you love him, and you think the idea is amazing, his classes are always sold out, and he really needs a bigger studio to accommodate all of his followers. However, you are still a bit skeptical…because after all he is your wild and crazy brother who just can’t be bothered with details and you do not want to just hand over your hard earned money and wait around for him to take of the care of the nitty-gritty legal work.
If only there was some way you could the following all at once:
- Create tokens to represent membership interest in Super Zen Extreme Cycle,
- Both you and your brother sign a valid legal agreement,
- Transfer tokens to you,
- Handle payment to your brother for membership tokens all at once.
With OpenLaw’s just released “Delegate Call” function. You can do this all right now without ever leaving the OpenLaw platform. Which means you and/or your software developers have to spend less time making websites to interact with your smart contracts.
If you don’t want OpenLaw to handle the smart contract call (by default, the Ethereum address initiating the call to the smart contract is an OpenLaw account), you can delegate the call to another Ethereum address, such as one the one in your MetaMask account.
Which means that only your private key in MetaMask can sign the smart call to make payment and only your brother’s Ethereum address can authorize the smart call to issue shares in “Super Zen Extreme Cycle.”
To “delegate a call” all you need is to add in the “from” property on your OpenLaw template and specify which Ethereum address you’re expecting to handle the smart call.
See, https://docs.openlaw.io/markup-language/#delegating-the-call
To recap, instead of spending days, possibly even weeks, scrambling to corral your crazy brother into signing a valid legal agreement, dragging him to get the agreement notarized, distributing shares, and then having him wait for funds, you were able to take care of all this legal work in a matter of minutes without ever leaving OpenLaw. Using OpenLaw we were able to create token shares in Super Zen Extreme Cycle (“SZEC”), sign a valid legal agreement recognizable to any lawyer, distribute the SZEC tokens directly to your Ethereum address, and make payment to him all on the blockchain.
With the internet, we moved into the information age and with bitcoin, we could send payments anywhere, and now we can let OpenLaw’s blockchain based protocol do it all: from signing legal agreements, forging tokens and sending these tokenized assets on the blockchain without ever having to leave OpenLaw.
About OpenLaw
OpenLaw is a blockchain-based protocol for the creation and execution of legal agreements. Using OpenLaw, lawyers can more efficiently engage in transactional work and digitally sign and store legal agreements in a highly secure manner, all while leveraging next-generation blockchain-based smart contracts.
To learn more about OpenLaw, check out our site and documentation for an overview and detailed reference guide and. You can also find us at hello@openlaw.io or tune in in our community Slack channel. Follow our Medium and Twitter for further announcements, tutorials, and helpful tips over the upcoming weeks and months.
