Transaction Limit Guardian Aspect

Summary

The Transaction Limit Guardian Aspect is designed to add an extra layer of security to user accounts by implementing daily transaction limits. This Aspect aims to prevent large-scale fund theft or accidental loss by setting and enforcing customizable daily transaction limits for different token types.

Problem Statement and Solution

In the current blockchain ecosystem, users often face the risk of losing large amounts of funds due to hacks, phishing attacks, or simple user errors. While traditional security measures like private key management are crucial, they don't provide granular control over transaction volumes.

Our team aims to solve this problem by creating an Aspect that:

1. Allows users to set personalized daily transaction limits.
2. Monitors all transactions initiated through the account.
3. Intercepts transactions that would exceed the set daily limit.
4. Provides an emergency unlock mechanism for special circumstances.
5. Maintains a transaction log for user reference.

By implementing these features as an Aspect, we can enhance the security of existing smart contracts without modifying their core functionality.

Design Process

1. Requirement Analysis: We started by identifying the key features needed to effectively implement transaction limits.
2. Architecture Design: We designed the Aspect to interact seamlessly with smart contracts and the Artela blockchain.
3. Implementation: The Aspect was implemented using AssemblyScript, focusing on efficiency and minimal gas usage.
4. Testing: Rigorous testing was conducted to ensure the Aspect correctly enforces limits and handles edge cases.
5. Optimization: We optimized the code for gas efficiency and improved user experience based on initial test results.

Value to Artela Ecosystem

The Transaction Limit Guardian Aspect brings several benefits to the Artela ecosystem:

1. Enhanced Security: It provides an additional layer of protection for user funds, potentially attracting more users and institutions to the Artela platform.
2. Flexibility: The Aspect can be easily attached to existing smart contracts, demonstrating the power and flexibility of Artela's Aspect-oriented programming.
3. User Control: It empowers users with more control over their accounts, aligning with the principles of decentralization and self-sovereignty.
4. Ecosystem Growth: By addressing a critical security concern, this Aspect can encourage more developers and projects to build on Artela, contributing to ecosystem growth.
5. Innovation Showcase: This project serves as a practical example of how Aspects can be used to solve real-world problems, potentially inspiring more innovative uses of Artela's technology.

By providing this additional security feature, the Transaction Limit Guardian Aspect not only protects individual users but also enhances the overall security perception of the Artela blockchain, potentially leading to wider adoption and trust in the ecosystem.