Since Ethereum contracts can reach the maximum contract size limit of 24 KB when there are too many features and too much code, a new standard has been developed to help combat this problem.
Programmer Nick Mudge revealed on his blog on July 10 that while Vitalik Buterin’s insistence on using „proxy contracts“ might be the possible solution to the limitations, a standardized proxy contract he created called the Diamond Standard could be the icing on the cake. Proxy contracts are contracts that can be kept small by borrowing features from other contracts.
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Mudge pointed out that standard contracts like the ERC1400 security token standards require many functions and events, so implementing a standard contract could easily reach its limitation.
According to Mudge, the Diamond Standard can standardize how programmers can create a small contract by borrowing features from any number of contracts. A contract that implements the Diamond Standard is called a diamond, in order to differentiate it from regular and proxy contracts.
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In addition to having many different sides and features, it is also reported that the Diamond Standard has a flexible and transparent method of creating upgradeable diamonds.
The community supports the new creation.
Mudge says the community has supported the new program. Several companies and individuals have already explored the potential of the Diamond Standard.
ConsenSys Diligence conducted a public safety audit of Codefi’s contracts and suggested that, Codefi implement the Diamond Standard to solve the problem of the maximum size limit of the contract. VolleyFire, a provider of liquidity for decentralized exchanges is using diamonds.
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As reported by Cointelegraph earlier, in the Bitcoin Freedom blockchain, through the use of a command and a proxy contract, upgradeable contracts can be issued. This gives the developers some control over the contract after it has been issued.
According to reports, Alibaba is seeking to develop a blockchain system that allows authorized parties to intervene in an intelligent contract.