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Ownership Management Standard

CIP-102 ● Category: CBC ● Tag: DRAFT ● ● 2 min read

Standardized Ownership Management for Smart Contracts

Abstract​

This CIP proposes a standardized way to handle ownership of smart contracts. The proposed standard abstracts ownership management, providing functions to transfer and renounce ownership securely.

Motivation​

Ownership management is critical to smart contract security and governance. The proposed standard aims to provide a common, reusable, and secure pattern for managing ownership in smart contracts.

Specification​

The CIP-102 Standard​

State Variable:

  • _owner: Holds the address of the owner.

Events:

  • OwnershipTransferred: Emitted when ownership is transferred.

Constructor: Sets the contract deployer as the initial owner.

Functions:

  • owner: Returns the current owner's address.
  • renounceOwnership: Allows the current owner to relinquish ownership.
  • transferOwnership(address newOwner): Enables transferring ownership to a new address.

Modifiers:

  • onlyOwner: Restricts function access to the current owner.

Technical Details​

  • Blockchain Compatibility: Core Blockchain (Ylem Version >0.8.0)
  • Contract Functions:
    • owner(): Returns the current owner's address.
    • renounceOwnership(): Allows the current owner to renounce their ownership.
    • transferOwnership(address newOwner): Transfers ownership to a new address.
    • onlyOwner: A modifier restricting function access to the contract's owner.
  • Event: OwnershipTransferred(address indexed previousOwner, address indexed newOwner): Emitted when ownership is transferred.

Rationale​

The proposed standard simplifies ownership management in smart contracts, reducing the risk of unauthorized access and enabling clear governance structures. Its simplicity and clarity make it a suitable standard for various applications on Core Blockchain.

Backward Compatibility​

The CIP-102 standard is compatible with all existing Core Improvement Proposals (CIPs) and does not interfere with existing blockchain architectures on Core Blockchain.

Security Considerations​

Security is a primary concern in the design of the proposed standard. It includes checks to prevent unauthorized access and changes to contract ownership. Further security audits and reviews are recommended.

Conclusion​

The CIP-102 Standard provides a simple and effective solution for managing ownership in smart contracts on Core Blockchain. It offers a clear and reusable pattern for implementing ownership-related functionalities essential for contract governance and security. By standardizing the approach to ownership management, the CIP-102 standard aims to reduce the risk of errors and vulnerabilities associated with ad-hoc implementations. This standard benefits contracts requiring a single owner or administrator, ensuring that critical functions are protected and governance is transparent.

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