The full article was originally published by Evan Feenstra on Medium. Read the full article here.
After watching Rust take the top spot in the Stack Overflow developer survey year after year, I finally decided to dive in and learn the language. I started with a simple wallet frontend for the IOTA Shimmer testnet, that you can check out on Github, or contribute to! This wallet started as a simple experiment to learn about Rust, WASM, and Shimmer. However since the IOTA Foundation’s announcement of Stronghold and a new wallet library, I think that Brood Wallet has the potential to eventually be a solid piece of software with real security and usability.
Frictionless token creation on Shimmer will enable any person, place, or organization to generate their own monetary value system. This may sound like chaos, but the world already has categories set up to make this simple. Similar to what Hans Moog describes here, sometimes the best way to find virtual consensus is to create a logical mapping to the real world. The Earth’s geographic regions, states, and cities can be easily sorted into smart contract Quorums, running DEX contracts to trade between their own token sets, and those of their neighbors. For example, the DEX for a US-wide currency could be run by 52 member states, each made up of quorums of districts, towns, and even neighborhood currencies. The relative price of each of these tokens could be discovered through natural processes of earning and spending, as tokens flow across layers of automated exchanges. Users would not need to choose which token to spend in every store, as any token could instantly be exchanged for another. The key to this kind of system is feeless, instant transactions (and of course an equitable process for initial token distribution). Shimmer will make many more types of exchange possible as well, such as e-voting with NFTs, decentralized social media, p2p digital marketplaces, and more. IOTA feeless tokens and smart contracts can be the foundational layers for this system. Brood Wallet is a tool to help make this future a reality.