What Does It Mean to Have Quests on Smart Contracts?

One of the most significant elements of the major update to the VIM platform is the integration of smart contracts into the quest system. Based on blockchain technology, smart contracts ensure transparency and fairness in transactions, allowing participants to trust every step of the quest process. In this post, we’ll dive into how smart contracts are applied to VIM quests and the benefits they offer to users.

1. What Are Smart Contracts?

Smart contracts are self-executing contracts that run on a blockchain. Once the conditions set in the contract are met, the contract is automatically triggered, without the need for a middleman. This sets smart contracts apart from traditional contracts. On the VIM platform, smart contracts automate the entire process of creating quests, verifying participants, and distributing rewards.

2. The Role of Smart Contracts in Quest Creation

Now, when a quest creator designs a quest, the details are automatically recorded on the blockchain. Everything from the quest’s requirements to rewards and deadlines is set through smart contracts, establishing a trust-based agreement between the quest creator and the participants. All the rules of the quest are pre-defined through smart contracts, and once the conditions are fulfilled, rewards are automatically distributed.

3. Automated and Transparent Reward Distribution

After a quest’s deadline, the smart contract automatically distributes rewards based on pre-set rules. For example, once a quest is completed, the rewards are divided using a 1/n method, meaning they’re split evenly among participants. This guarantees that rewards are distributed transparently and fairly, without any confusion or disputes about who should receive what. Since all processes are recorded on the blockchain, anyone can verify the data, adding another layer of trust to the system.

4. Security of Smart Contracts

Since smart contracts operate on the blockchain, they are highly secure against hacking or tampering. Once data is recorded on the blockchain, it cannot be easily altered, ensuring that every step of the quest is securely protected. This security provides both quest creators and participants with a trustworthy environment to engage in quests.

5. The Scalability of Smart Contracts

VIM’s smart contract system doesn’t stop at automating quest creation and reward distribution — it also offers scalability for future growth. For example, all data generated through quests is recorded on the blockchain, making it possible to evaluate the trustworthiness of quest creators or track participant performance over time. Additionally, smart contracts allow seamless integration with a variety of external platforms, enabling further expansion of the VIM ecosystem.

Conclusion

By introducing smart contracts into its quest system, VIM has maximized transparency and fairness while improving the overall user experience. Quest creators can easily manage their quests, and participants benefit from a more trustworthy and transparent reward distribution process. In the next post, we’ll dive into the details of the new reward system and explore how the reward structure has been reimagined.