Diving into the Open Runtime Module Library (ORML)

[olanod]

Context

Virto Network, aims to become the decentralized infrastructure for marketplaces with social impact in Polkadot, it's the implementation of the Local Incentives Protocol that defines a token-less parachain specialized in de-commerce and the payment of any real-world products and services. It allows people to create marketplaces and local communities as DAOs where users can transact securely in a P2P way or via a marketplace that ensures the quality of the listings, whenever people pay for anything a small fee goes to the marketplace and to the local communities empowering them to become autonomous micro-economies.

The talk

We'll go through the inner workings of our main core runtime module, the Payments Pallet, developed with the help of a Web3 foundation grant. It uses an escrow-like system to support reversible payments and protect users in both ends of the transaction from dishonest actors. We'll talk about how the pallet will be used to enable Virto's use cases and how it can be used in any other chain by implementing a configurable FeeHandler and a DisputeResolver. After covering the basics we can also talk about other(current and planned) exciting features like payment requests, recurring payments or pooled payments that can aid in things like fund-raisings.