What are Intents? What are their use cases? What possibilities exist for the future?

What are Intents and their use cases? What's the future?

Encrypt KOL Yellow Propeller wrote an article introducing Intents and analyzing the current and future ways in which they can be used. They believe that Intents simplify complex transactions by outsourcing the difficult parts to third parties, and have already brought valuable innovation. However, most applications are still in development, and intent-centric chains like Anoma will truly open up design space for intents.

What is the difference between Intents and “normal” daily transactions? Intents are partial transactions. You commit to something – your intent – but that alone is not enough to complete the full transaction. You need someone else to add the missing parts to complete a valid transaction. Therefore, Intents are partial transactions that require the help of others. Intents are particularly useful when you cannot create a complete transaction on your own.

Where Intents can be used: 1) Counterparty selection – it can be difficult to find and select the best counterparty for a trade. However, defining what you want and having others evaluate and select counterparty can be much easier. Outsourcing also gives you access to trades and counterparties you may not have had otherwise. 2) Automation – doing things manually is painful when you need to monitor events precisely, react quickly, or complete many trades. Intents can help you specify a goal and condition once, then have a third party handle the execution. 3) Multi-party commitments – when you need other parties to validate your transaction, Intents are a good way to coordinate multi-party commitments. Some dApps have been using Intents for some time.

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Future Intents: 1) Organizing trips; 2) Private OTC trading; 3) Global private barter trade; 4) Custody; 5) Dynamic payments; 6) Proof-based rebates; 7) Portfolio optimization; 8) Cross-chain bridging. More ideas about Intents: 1) P2P, declare Intents that others can fill in directly, reduce intermediaries and increase prices for you and your trading partners. 2) Safe exit, sell tokens when specific conditions are met. 3) Deadman switch, let your friends claim your assets if your wallet has not made a transaction in six months. 4) Conditional trades: you declare specific market conditions for trades, and when those conditions are met, the trades will be executed automatically.

Reference: https://www.propellerheads.xyz/blog/intents-and-where-to-find-them

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