LEX Escrow.
"Payer" is a person.
"Payee" is a person.
"Arbiter" is a person.
"Payment" is an amount.
"Fee" is an amount.
The Payer pays a Payment into escrow,
appoints the Payee,
appoints the Arbiter,
and also fixes the Fee.
CLAUSE: Pay Out.
The Arbiter may pay from escrow the Fee to the Arbiter, and afterwards pay the remainder of the escrow to the Payee.
CLAUSE: Pay Back.
The Arbiter may pay from escrow the Fee to the Arbiter, and afterwards return the remainder of the escrow to the Payer.
This is a Lexon smart contract.
It can be deployed to a blockchain or executed as Javascript.
The text itself is the program, and its human-readable explanation at the same time.
Lexon text reads like plain English.
Lexon text is unambiguous, can be analyzed with perfect reliability, by both humans and machines.
It does not suffer from hallucinations or incompleteness.
Lexon is not about creating a text – it is about acting it out. With unprecedented faithfulness.
The difference with Lexon is that it understands texts. This is why it can act on it. Which is different from – and complementary to – machine learning (ML).
Generative intelligence is the natural feeder technology for Lexon.
Understanding large language models (LLM) as the unruly brainstorm phase of AI, Lexon governs the decision and execution.
Lexon has a precise internal model of the meaning of a document. This has been described as the Holy Grail of text analysis.
This precise model enables Lexon to create a program from English prose and execute it.
The prose can be laws, regulation or contracts. It can be short or complex.
Because it is fully deterministic – unambiguous and repeatable – it can be used as building block in large systems. The reliability is key to be able to arrive at emergent systems that make sense.
This example shows an Operating Agreement of a Wyoming DAO LLC in the forthcoming Lexon 0.4. it is both a human-readable member agreement and an unbreakable smart contract. With the DAO being a firm, these are
Lexon's grammar is a subset of natural English grammar, a controlled grammar.
The number of allowable sentence patterns is limited, only some ways of combining words are permitted.
This guarantees unambiguity.
Lexon's vocabulary, however, is unlimited because any noun or compound term can be defined and used in a Lexon text.
Out of the box, Lexon understands 91 keywords. But the number of possible sentences in Lexon is limitless.
More than 100 contributors over the course of six years.
Lexon was created by Henning Diedrich, a blockchain thoughtleader and architect of some of the largest commercial blockchain architectures at IBM and BCG. Henning has utilized cryptography and language design for three decades, and worked closely with the teams of Ethereum, Dfinity and Aeternity before their respective launches.
Contributors came from computer sciences, crypto, law, linguistics, philosophy, finance and commerce; from academia as well as from industry. Among them, Constance Choi, TJ Saw, Thomas Hardjono, Brian Fox, Carla Reyes, Tom Montgomery, Yanislav Malahov and Vitalik Buterin.
The æternity blockchain enables fast and economic digital contracts for everyone.
Lexon runs best on æternity. Because of its speed and low price it is the optimal chain for experimenting and to deploy DIY digital contracts. æternity is scalable, open-source software, with a commitment to technical excellence.
Participate in, and contribute to one of the biggest quests of our time.
Until the last word is spoken, it will be a hundred years. But Lexon starts now. Its journey will see it overcome the inertia of worlds, traditions and thought systems. It will just work and have the staying power of truth. It's a platonic idea. You won't get it unthought.
Lexon
