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Digital Asset Modeling Language

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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 smart contracts programming language[1] inspired by Haskell. It aids in modeling agreements and runs on blockchain platforms[2][3] including Hyperledger Sawtooth and Fabric, and Amazon Aurora and Quantum Ledger, distributed ledgers, or databases such as PostgreSQL.[4]

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.[5] On April 4, 2019, Digital Asset Holdings released the Digital Asset Modeling Language and made it available under open source licensing.[6][7] In the same month, 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;[8] the collaboration was aimed at producing an open source library and reference app.[8] On April 11, 2019, Digital Asset partnered with VMware to deploy DAML in the first instance of compatibility with a third-party blockchain.[9] Digital Asset also initiated the integration of DAML into Hyperledger's Sawtooth on April 16, 2019.[10][11] This led to the first integration of DAML with one of Hyperledger consortium’s ledger platforms.[11]

Operational model

Open source

DAML runs as an open source platform which employs language-agnostic APIs and standard protocols to integrate with current technology stacks.[12]

Working procedure

DAML separates business logic from systems code, allowing the user to model and execute enterprise interactions.[13][14]

Usage

DAML was designed for multi-party smart contracts. It is used for modelling multi-party business workflows on traditional databases or with enterprise-scale distributed ledger technology (DLT).[15] DAML can be used across internal and external business endeavors.[16]

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 Modeling Language (DAML) home page". digitalasset.com. Retrieved 24 June 2020.
  5. ^ "Digital Asset to Open Source Smart Contract Language". coindesk.com. 23 August 2016. Retrieved 20 February 2020.
  6. ^ "Update on Open-Sourcing Plans for Digital Asset Modeling Language (DAML)". hub.digitalasset.com. Retrieved 20 February 2020.[dead link]
  7. ^ "Digital Asset Open Sources its Smart Contract Language, DAML, to Enable Integration with Other Platforms". hub.digitalasset.com. Retrieved 20 February 2020.
  8. ^ a b Joe Parsons,"Digital Asset partners with ISDA to support adoption of CDM". thetradenews.com. 11 April 2019. Retrieved 20 February 2020.
  9. ^ "DAML + VMware". medium.com. Retrieved 20 February 2020.
  10. ^ "Digital Asset's Smart Contract Language Now Works on Hyperledger Blockchains". coindesk.com. 16 April 2019. Retrieved 20 February 2020.
  11. ^ a b Hank Tucker,"Digital Asset Integrates With Amazon, Hyperledger Fabric And R3 Corda". forbes.com. 18 June 2019. Retrieved 20 February 2020.
  12. ^ Biser Dimitrov,"What Changed? Enterprise Blockchain Startups Are All Of A Sudden Cool". forbes.com. 19 February 2020. Retrieved 20 February 2020.
  13. ^ Swati Goyal,"DAML- The open-source language for smart contracts originated by Digital Asset 0". forbes.com. 12 May 2019. Retrieved 20 February 2020.
  14. ^ "Introducing the Digital Asset Modeling Language: A Powerful Alternative to Smart Contracts for Financial Institutions". hub.digitalasset.com. Retrieved 20 February 2020.[dead link]
  15. ^ Helen Partz,"Blockchain Software Firm Digital Asset Open Sources its DAML Language". hub.cointelegraph.com. 4 April 2019. Retrieved 20 February 2020.
  16. ^ "DAML: The Contract Language of Distributed Ledgers". queue.acm.org. 19 August 2019. Retrieved 20 February 2020.
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