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In this tutorial, we will walk through how to create your own precompile and add it to Geth.
What Is a Precompile in Geth?
In Geth, precompiles are a set of stateless contracts. But unlike Solidity code, their logic isn't in the smart contract code itself—they are part of the Geth client. You can think of a precompile as an interface that can execute Go code that resides within the Geth client.
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ICS: Cinderella Tokens: An Async/IBC friendly alternative to flash loans
Flashloans are a fascinating economic coordination mechanism that has emerged out the Ethereum architecture as a result of a synchronous, sequential, atomic transaction system. It allows anonymous coordination between capital providers and arbitrageurs because the capital providers can condition providing any capital on protocol enforced guarantee that the entire arbitrage is profitable denominated in the token being lent.
One of the effects of this process has been the it ensures an efficient and healthy liquidation market for the collateral in long term debt instruments. It also enables low cost scaling of economic exploits.
Why don’t flash loans exist in IBC world?
Flash loans are impossible in an IBC world because IBC semantics require finalizing a block on the origin chain rather than on the receiving chain. This makes atomicity for the lender difficult and moves us into the domain of over collateralized lending.
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