Smart Contract

Introduction

In the current era of rapid deployment of blockchain solutions, Smart Contracts are gaining a unique prominence. Blockchain stores digital contracts in the form of smart contracts. Smart contracts include executable terms and conditions. They run automatically without any intervention of a third-party. The reason being, use of smart contracts is prevalent in a number of sectors such as the government voting system, healthcare, supply chain, financial services, etc. to resolve the issue of complex and mass transactions.

Platforms supporting development of smart contracts are:

There are multiple platforms that support the creation of smart contracts including Ethereum, NEO, Hyperledger, Waves etc.

Ethereum

It is the most prominent platform for building smart contracts. It provides a decentralized virtual machine that executes code using an international network of nodes. Solidity is the smart contract language of Ethereum that helps the developers to create easier and less riskier contracts. Ethereum based smart contracts are the first preference of the blockchain developers.

NEO

NEO is not much recognized across the world. However, it offers trustless smart contracts and financial transactions that are intricate in nature. Along with this, it offer developers the ability to write smart contracts using already known programming languages. It also facilitates a simple and user-friendly platform for smart contract development.

Hyperledger

Hyperledger is an open source platform to create and develop distributed ledger frameworks for supporting business transactions. Linux Foundation hosts Hyperledger to deliver plug-and-play membership services. Like Ethereum, Hyperledger provides a set of tools and programming languages to support easier development of smart contracts.

Waves

Like Hyperledger, Waves is also an open-source platform. It focuses on speedy and scalable mainstream blockchain implementation. It prevents a smart contract from changing the behavior of another smart contract through tokenization.

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IOTric

IOTric

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IOTric is a leading Blockchain, Mobile, Web application, AR/VR, IoT, and Custom Software Development Company.