The Marmalade Ledger Explained
What is the Marmalade Ledger?
What is it and what is it used for. Think of a Ledger as your personal bank statement, only in this case its not just for you, it's for everybody participating in the system. It's this big ol' record that keeps track of the things within marmalade that happen. You can look at the ledger as the heart of marmalade, the place where most of the action happens.
In the context of NFTs, the Marmalade Ledger plays a crucial role in managing the lifecycle of these unique digital assets. It provides the underlying infrastructure and framework necessary to create, transfer, and track ownership of NFTs within the Marmalade ecosystem. It acts as a decentralised, transparent, and immutable ledger of ownership, ensuring that every change in ownership, creation, or transfer of an NFT is securely and accurately recorded.
The ledger consists of several components. It defines tables and schemas to organise data related to accounts and tokens. It includes capabilities, which are functions that perform specific actions and enforce certain conditions. By leveraging the capabilities, tables, and schemas defined within the ledger, developers and users can interact with NFTs in a standardised and reliable manner. The ledger enforces policies and guards to ensure compliance with predefined rules and constraints, promoting secure and trustworthy NFT transactions.
Diving Deeper into the Marmalade Ledger
When delving further into the ledger's workings, we find each function and capability playing a unique role in its operation and management.
Capabilities
There are capabilities like TRANSFER and XTRANSFER, which work similarly to
the transfer feature on your online banking application. They help move tokens
between accounts. There are also capabilities for updates and checks, such as
SUPPLY, TOKEN, ACCOUNT_GUARD, and RECONCILE.
Some more specific capabilities include ADJUST_POLICY, which allows changes to
token-associated policies, and ROTATE which permits a change in the guard of
an account. DEBIT and CREDIT give the power to use debit or credit
functions, and UPDATE_SUPPLY allows adjustments to a token's total
circulation.
Capabilities like MINT and BURN enable creation and removal of tokens
respectively. Lastly, LEDGER provides a security check, ensuring executed
policies have correct permissions.
Marketplace related capabilities
Special marketplace-related capabilities like SALE, OFFER, WITHDRAW, and
BUY facilitate the trading of tokens within the marketplace.
Core functions
Core functions such as create-token, create-account, mint, burn,
offer, withdraw, buy, transfer, get-balance, details, rotate,
total-supply, get-uri, and adjust-policy offer a variety of operations
from creating new tokens and accounts to managing token trading in the
marketplace.
Internal / Helper functions
Helper functions like precision, enforce-unit, debit, credit,
get-token-info, TRANSFER-mgr, account-guard, ledger-guard,
enforce-token-reserved, truncate, enforce-transfer-policy,
credit-account, update-supply, key, sale-active, sale-account, and
transfer-crosschain provide support to the core functions and capabilities.
To sum up, the Marmalade Ledger is a sophisticated system that records and manages transactions and operation within the Marmalade platform. It ensures every transaction is accurate, every policy is enforced, and every account is up-to-date.
We hope you've got a sense of what the marmalade ledger is all about.
Whether you're a code whizz or a crypto newbie, we hope this journey into the workings of this ledger has helped to unravel some of the mysteries behind it. You could be buying a new digital art piece today or selling some tomorrow.
Marmalade makes it possible.