Smart Contracts Development Services
Concept of smart contracts
A smart contract is a piece of code that is running on a blockchain. Why is it called a contract and why is it considered smart? It is a contract because it contains specific terms and triggers certain actions when the terms are fulfilled. It is smart because it is self-executing and also unmodifiable to a certain extent. Once the smart contract is launched on a blockchain, it runs itself with no human interference.
We believe that smart contracts are the future of data management. This is why we have gathered a team of enthusiastic crypto economy and crypto development professionals who can build blockchains and smart contracts for almost any business. Our expertise is based on a solid academic background of our team members and constantly enhanced with the research of new technologies and methods.
Advantages of smart contracts
The advantages of smart contracts are directly related to their immutability and self-execution. They are quite numerous:
- Accuracy – the absence of manual interventions means the absence of errors
- Speed – self-executing transactions require no additional confirmations or approvals
- Security – the data encryption mechanisms ensure a high level of protection
- Cost-effectiveness – the absence of middlemen reduces the costs to the minimum
- Transparency – the inherent immutability of data stored in a smart contract ensures the highest transparency and traceability
Industries using smart contracts
The common notion is that smart contracts are mostly needed for companies running ICOs. That’s true, a smart contract is an integral part of any ICO, however, the list of their possible uses is much longer:
- Supply chain and logistics
- Real estate
- Government services
- Enterprise accounting applications
Any industry using data storage, transaction processing, identity management can benefit from implementing smart contracts as a vehicle of efficient and secure operations.
Our smart contract development services
Including the design of data flows, business logic and user interface
Including the development of custom tokens and transaction flows
Intended to verify the code of smart contracts written by third parties to confirm their performance quality and the absence of errors
Aimed at reducing their overhead costs and increasing performance
Our technology stack
The expertise of Adoriasoft team includes the development of smart contracts hosted on the major blockchains, including Ethereum and Hyperledger Fabric. Depending on the requirements of your project, we can build smart contracts on other blockchains, too, such as EOS and Hyperledger Sawtooth. We also have the experience of using NEM and Mijin smart assets, thus we can find the most optimal solution for any project.
Each blockchain framework has its advantages that should be leveraged to achieve the best performance. Ethereum is the most popular network for use in cryptocurrency and ICO project as well as for building public blockchains in general. Hyperledger frameworks, in their turn, are better suited for private and enterprise solutions. Besides, Hyperledger Fabric has a bit higher flexibility due to its modular structure. NEM and Mijin are great tools for building smart assets right out of the box.
We develop smart contracts that support the most widely used token standards, ERC20 and ERC223. While ERC20 is the most common token standard, it has certain issues that have been taken care of in ERC223. Our expertise allows building smart contracts that can accept both token standards. Therefore, our smart contracts and distributed solutions in general will be easily usable with any standard and custom wallets and web services, such as Mist, Metamask, MyEtherWallet, and many more.
In our development, we use the following tools and frameworks
The common language of the Ethereum blockchain
The language for the development of Hyperledger Fabric smart contracts
An effective framework for the development of Ethereum smart contracts
An Ethereum client for the development of smart contracts and whole distributed applications based on the Solidity language
A command line interface intended to run Ethereum nodes written in Go
A distributed file storage platform
A token and a platform that simplifies and automates the conversion of other tokens
Of course, this list of tools that we use in the development of smart contracts and related products is far from exhaustive. We are keeping our ears to the ground for the latest innovations in the blockchain development sector and are flexible enough to integrate advanced solutions in our flows.
We apply extensive testing to make sure that our smart contracts are free of errors, that they perform all the functions expected of them and that all security mechanisms are in place. The smart contracts that we deliver to our partners carry the intended business value and serve the intended purpose effectively and reliably.