Jump to content

Digital Asset Modeling Language

Edit links
From Wikipedia, the free encyclopedia
This is an old revision of this page, as edited by Piotrus12 (talk | contribs) at 19:14, 26 February 2020. The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
Digital Asset Modeling Language ("DAML")
DeveloperDigital Asset Holdings
First appeared2016
Stable release
2019
LicenseOpen-source
Websitedaml.com

Digital Asset Modeling Language ("DAML") is an Open-source programming language designed for writing distributed applications. [1] It serves as a computer language that aids in modeling agreements between financial institutions and/or individuals and it runs on the leading blockchain platforms.[2][3]

History

Digital Asset Modeling Language (DAML) was developed by a technology firm called Elevence and was published by Digital Asset Holdings after it acquired Elevence in 2016.[4]

On April 4, 2019, Digital Asset Holdings released the Digital Asset Modeling Language and made it available under open source licensing.[5][6]

In same April 2019, Digital Asset collaborated with the International Swaps and Derivatives Association ("ISDA") to support the ISDA common domain model's adoption by providing DAML as a smart contract language.[7] The collaboration was aimed at producing an open source library and reference app.[7]

On April 11, 2019, Digital Asset partnered with VMware to deploy DAML in the first instance of compatibility with a third-party blockchain.[8] Digital Asset also initiated the integration of DAML into Hyperledger's Sawtooth on April 16, 2019.[9][10]This led to the first integration of DAML with one of Hyperledger consortium’s ledger platforms.[10]

Operational model

Open source

DAML runs as an open source platform that employs language-agnostic APIs and standard protocols making it easy to integrate with current technology stacks.[11]

Working procedure

DAML separates business logic from systems code, giving the user a lead way to model and execute the interactions at the heart of an enterprise.[12][13]

Usage

DAML was designed specifically for use in multi-party smart contracts. It is used for modelling multi-party business workflows on traditional databases or with enterprise-scale distributed ledger technology (DLT).[14]

DAML can be used to solve complex business problems across internal and external business endeavors.[15]

Benefits

DAML gives the user the freedom to make selections based on current needs.[16][17] It gives the user the room to explore, learn and test on a small scale, and at a suitable speed.[18] Its built-in scenarios helps the user to visualize and test workflows in real time while offering instant feedback towards identifying errors and solving them.[19]

DAML also powers real life business solutions across a wide range of industries such as Capital markets, Healthcare, Supply Chain, Insurance and many more.[20]

See also

References

  1. ^ Ben Jessel,"Digital Asset Steps Up A Gear In Enterprise Blockchai". forbes.com. 19 February 2020. Retrieved 20 February 2020.
  2. ^ Nicky Morris,"Digital Asset open sources smart contracting language DAML for use on other blockchains". ledgerinsights.com. Retrieved 20 February 2020.
  3. ^ Michael del Castillo and Matt Schifrin,"Blockchain 50". forbes.com. Retrieved 20 February 2020.
  4. ^ "Digital Asset to Open Source Smart Contract Language". coindesk.com. 23 August 2016. Retrieved 20 February 2020.
  5. ^ "Update on Open-Sourcing Plans for Digital Asset Modeling Language (DAML)". hub.digitalasset.com. Retrieved 20 February 2020.
  6. ^ "Digital Asset Open Sources its Smart Contract Language, DAML, to Enable Integration with Other Platforms". hub.digitalasset.com. Retrieved 20 February 2020.
  7. ^ a b Joe Parsons,"Digital Asset partners with ISDA to support adoption of CDM". thetradenews.com. 11 April 2019. Retrieved 20 February 2020.
  8. ^ "DAML + VMware". medium.com. Retrieved 20 February 2020.
  9. ^ "Digital Asset's Smart Contract Language Now Works on Hyperledger Blockchains". coindesk.com. 16 April 2019. Retrieved 20 February 2020.
  10. ^ a b Hank Tucker,"Digital Asset Integrates With Amazon, Hyperledger Fabric And R3 Corda". forbes.com. 18 June 2019. Retrieved 20 February 2020.
  11. ^ Biser Dimitrov,"What Changed? Enterprise Blockchain Startups Are All Of A Sudden Cool". forbes.com. 19 February 2020. Retrieved 20 February 2020.
  12. ^ Swati Goyal,"DAML- The open-source language for smart contracts originated by Digital Asset 0". forbes.com. 12 May 2019. Retrieved 20 February 2020.
  13. ^ "Introducing the Digital Asset Modeling Language: A Powerful Alternative to Smart Contracts for Financial Institutions". hub.digitalasset.com. Retrieved 20 February 2020.
  14. ^ Helen Partz,"Blockchain Software Firm Digital Asset Open Sources its DAML Language". hub.cointelegraph.com. 4 April 2019. Retrieved 20 February 2020.
  15. ^ "DAML: The Contract Language of Distributed Ledgers". queue.acm.org. 19 August 2019. Retrieved 20 February 2020.
  16. ^ "everis broadens banking sector solutions with DAML, Digital Asset's smart contract technology". everis.com. 29 April 2019. Retrieved 20 February 2020.
  17. ^ Carl T,"Digital Asset Modelling Language (DAML) Goes Open Source as DA Firm Gets Closer to Hyperledger". bitcoinexchangeguide.com. 4 April 2019. Retrieved 20 February 2020.
  18. ^ Amanda Allen,"What Is DAML". Jumpstartblockchain.com. 29 July 2018. Retrieved 20 February 2020.
  19. ^ "Digital Asset Modeling Language (DAML) Use Case Demo". opencrowd.com. Retrieved 20 February 2020.
  20. ^ "Digital Asset open sources smart contract language". finextra.com. 4 April 2019. Retrieved 20 February 2020.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Digital_Asset_Modeling_Language&oldid=942773383"