Urbit has reported its plans to rebuild its foundation on Ethereum technology. It has a network of p2p (point-to-point) cloud servers that is also known as virtual real estate. The company has a certain connection to the blockchain technology but has never utilized as part of its infrastructure. They have had a test version online for about a year and it will now be upgraded with Ethereum’s smart contracts.
The blog post of the company describes how Ethereum’s smart contracts will work on the software. ERC20, the formal standard for Ethereum tokens, allow the property owners to obtain the holdings through cryptographic technology.
According to their blog, its companies foundation is described using space-themed terminology:
“We’ll instantiate a land registry for Urbit address space; an ERC20 “spark” token which is burned to create a generic star; and a voting system for self-governance. We’ll also create template contracts which galaxies can use to auction stars, and stars to distribute planets.”
After the upgrade is complete, Urbit will make the payments on the blockchain and create their own web browser forked from Ethereum’s code. Their plans for security are entirely based on the Ethereum platform.
However, like most changes, there are doubts involving the unification of Urbit to Ethereum. Developers Curtis Yarvin and Galen Wolfe-Pauly believe the merge will bring zero benedit to Urbit. They both are extremely displeased with Ethereum’s UX (user experience). These developers fear the dilution that may occur on the Urbit platform and call Ethereum’s governance suspect and unstable.
Nevertheless, Ethereum has succeeded its business goals thus far. Urbit plans on pushing ahead with its new integration plan and will launch their ethereum based token sale soon.