The Contracts pallet depends on a Wasm sandboxing interface defining the Wasm execution engine
available within the runtime. This is currently implemented with
wasmi, a Wasm interpreter.
The Contracts module has a number of familiar and new features for the deployment and execution of smart contracts.
The Contracts module uses an account-based system similar to many existing smart contract platforms.
To the Substrate runtime, contract accounts are just like normal user accounts; however, in addition
Balance that normal accounts have, a contract account also has associated
contract code and some persistent contract storage.
Two Step Deployment
Deploying a contract with the Contracts module takes two steps:
- Store the Wasm contract on the blockchain.
- Instantiate a new account, with new storage, associated with that Wasm contract.
This means that multiple contract instances, with different constructor arguments, can be initialized using the same Wasm code, reducing the amount of storage space needed by the Contracts module on your blockchain.
Calls to contracts can alter the storage of the contract, create new contracts, and call other contracts. Because Substrate provides you with the ability to write custom runtime modules, the Contracts module also enables you to make asynchronous calls directly to those runtime functions on behalf of the contract's account.
The Contracts module is intended to be used by any user on a public network. This means that contracts only have the ability to directly modify their own storage. To provide safety to the underlying blockchain state, the Contracts module enables revertible transactions, which roll back any changes to the storage by contract calls that do not complete successfully.
Contract calls are charged a gas fee to limit the amount of computational resources a transaction can use. When forming a contract transaction, a gas limit is specified. As the contract executes, gas is incrementally used up depending on the complexity of the computation. If the gas limit is reached before the contract execution completes, the transaction fails, contract storage is reverted, and the gas fee is not returned to the user. If the contract execution completes with remaining gas, it is returned to the user at the end of the transaction.
The Contracts module determines the gas price, which is a conversion between the Substrate
weight system and a single unit of gas. Thus, to execute a transaction, a user must have a free balance
of at least
gas price *
gas limit which can be spent.
Similar to how gas limits the amount of computational resources that can be used during a transaction, storage rent limits the footprint that a contract can have on the blockchain's storage. A contract account is charged proportionally to the amount of storage its account uses. When a contract's balance goes below a defined limit, the contract's account is turned into a "tombstone" and its storage is cleaned up. A tombstone contract can be restored by providing the data that was cleaned up when it became a tombstone as well as any additional funds needed to keep the contract alive.
Contracts Module vs EVM
The Contracts module iterates on existing ideas in the smart contract ecosystem, particularly Ethereum and the EVM.
The most obvious difference between the Contracts module and the EVM is the underlying execution engine used to run smart contracts. The EVM is a good theoretical execution environment, but it is not very practical to use with modern hardware. For example, manipulation of 256 bit integers on modern architectures is significantly more complex than standard types. Even the Ethereum team has investigated the use of Wasm for the next generation of the network.
The EVM charges for storage fees only at the time of storage. This one-time cost results in some permanent amount of storage being used on the blockchain, forever, which is economically unsound. The Contracts module attempts to repair this through storage rent which ensures that any data that persists on the blockchain is appropriately charged for those resources.
The Contracts module chooses to approach contract creation using a
two-step process, which fundamentally changes how contracts are stored on
chain. Contract addresses, their storage, and balances are now separated from the underlying
contract logic. This could enable behavior like what
create2 provided to Ethereum or even enable repairable
or upgradeable contracts on a Substrate based blockchain.
- Learn about ink!, a Rust based embedded domain specific language for developing smart contracts for the SEAL pallet.