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Hooks vs Evernode


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The Hooks amendment, if approved, will provide smart contract capabilities to the XRP Ledger by allowing pieces of code to execute logic before and/or after transactions, controlling their flow and behavior. Hooks are powerful if used and developed properly combined with the XRPL's features, Evernode is offering a unique flexible solution to smart contract developers.

Evernode allows complex business ideas and smart contracts like Chainlink, NuCypher and Storj to be deployed and hosted by leveraging the flexibility of its off-chain solution. The off-chain solution allows developers to be more flexible with their smart contract as the underlying network itself is dedicated to serve its kind. Evernode is very flexible compared to Hooks, Hooks can only execute logic on the XRPL because the XRPL's validators are not oracle providers or storage nodes but HotPocket nodes can be.

A Hook is a layer 1 smart contract because the XRP Ledger is the underlying protocol 'hosting' it; it's decentralized and secure but not flexible. A Hook can perform mathematics, store small bits of data, and execute logic but can't go beyond a certain limit as the XRP Ledger's validators' main purpose is to validate transactions. XRPL validators are not designed to store massive amounts of data, perform complex computation, or access off-chain data on behalf of smart contracts.

Evernode utilizes Hooks as a way to connect all the participating parties together on-chain. A HotPocket smart contract can store massive amounts of data, perform complex computations, act as an oracle solution, or even act as a decentralized bridge between payment networks (xrpl<->eth). A Hook is very powerful combined with the XRP Ledger's features and Evernode is very flexible as developers have a plethora of options when configuring their smart contract's cluster. This means that developers will be able to select nodes fit for their purpose, selecting from options including:

- large storage space
- high RAM
- large computational resources (CPU)
- reliability and trustworthiness (consensus agreement and decentralization)
- nodes owned by the developer (centralized solution)

HotPocket smart contract developers have a choice to configure how many nodes are constitute of their smart contract's cluster, which nodes belong to their cluster and, whether the cluster is permissioned or permissionless to best fit their smart contract and its intended use case. With layer 1 smart contracts or Hooks, this is not possible as the underlying network (XRPL) is in charge of custody. Developers wishing to create smart contracts directly on the XRPL must work within the bounds of the native protocol which was not created with customizability in mind, whereas Evernode is being created to extend the usefulness of the XRPL by enabling developers to create and deploy any smart contract that they can think of on a flexible layer 2 solution. HotPocket smart contracts can be written in any POSIX compliant programming language, whereas Hooks can only be written in any language compilable to WebAssembly.

Edited by wojake
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