Integrating CosmWasm: ShareRing’s Next Step Towards Enabling Frictionless Access

The CosmWasm integration is the first of many steps ShareRing is taking in order to move towards achieving the goal of providing frictionless access to goods and services. This integration results in smart contract functionality, greater cross-chain interoperability, and more flexibility in building smart contracts on ShareLedger. 

Over the next 4 weeks, we will be releasing a series of blogs discussing CosmWasm, Smart Contracts, and ShareLedger. This piece is the first of six releases, and is a brief introduction to ShareLedger integrating CosmWasm, and ShareRing's journey to a frictionless secure digital future.

Web2 prioritized centralisation, convenience and flexibility when granting access to goods and services. The landscape was fraught with gaps in privacy, security, control, whilst also being fragmented. ShareRing moves to position ShareLedger as the choice for Web3 developers to streamline access to goods and services, whilst reducing the friction that currently exists in a web2 landscape through leveraging verifiable credentials, NFTs, and Soulbound tokens.

In progression towards our broader goal of decentralization to enable frictionless access to goods and services, CosmWasm is that first step forward towards that vision.

Now, not only can developers build their immutable and irreversible smart contracts into ShareLedger, but CosmWasm also ensures reliability of chain agnosticism, greater interoperability between smart contracts since they can run on multiple chains.

In light of this, it's important to note that ShareRing is moving away from being a public blockchain and becoming a permissioned one.

This is because ShareRing recognizes the importance of privacy for businesses and individuals. Public blockchains allow anyone to access them, which means that anyone can see the transactions that are taking place. This is not ideal for businesses or individuals who want to keep their data confidential.

A permissioned blockchain is different in that only authorized participants can see the transactions that are taking place. For businesses and individuals who want complete data privacy, this is a more secure option.

ShareRing is dedicated to keeping our users' information secure, as well as contributing to the development of data privacy across the blockchain industry. Our goal remains the same: to reduce friction in the world by building a global blockchain ecosystem that embraces trust, privacy, and diversity.

Part 2 of 6 coming next week. Stay tuned.