Smart Contract Development
Full-stack blockchain development services including smart contract development, consulting, and auditing for both public and private blockchain.
What is Smart Contract Development?
A smart contract is an agreement between two or more parties that is stored on a blockchain, such as Ethereum or EOS. Every such contract has a predefined set of rules and conditions and is automatically executed when those conditions are met.
These contracts are guaranteed by the consensus of the whole blockchain network. They cannot be altered by anyone unless the whole network approves of the change. This makes smart contracts one of the safest and most powerful tools for creating agreements between different parties.
Here’s how your business can benefit from smart contract development.
Benefits of Smart Contracts Development for Your Business
Like any traditional contract, smart contracts are agreements on rules that determine the relationship between different parties. However smart contracts also offer a number of additional benefits:
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The Smart Contract Development Process
The development of a smart contract, also known as its life cycle, goes through several phases. These ensure that the business requirements are correctly defined and secured by the technology. Here is how a smart contract is developed:
1. Define the business logic and requirements
The parties involved define the specific business conditions of the smart contract and communicate them to the developer.
2. Design the smart contract’s architecture
Once the business logic has been determined, developers design the architecture of the contract to represent that logic. This serves as a blueprint during the development process.
3. Develop the smart contract
This stage involves writing the smart contract code for the blockchain platform of choice(for example, Ethereum,EOS, etc.). This step also includes unit testing to determine if the contract performs as designed.
4. Internal audit
5. Deployment on the blockchain
6. Simple smart contracts
This category includes contracts that have legal implications for parties that fail to fulfill their part of the agreement. They are also known as smart legal contracts.
7. Complex smart contracts
- DAOs are a form of blockchain community. This community operates and is governed by a set of rules via a number of smart contracts
- ALCs represent the interfacing between smart contracts and the Internet of Things (IoT). ALCs serve to validate and aid the communication between devices within the IoT.
Smart Contract Development by LimeChain
We also offer blockchain-agnostic smart contract development. This allows you to build a decentralized applications (dApp) that can interact with any blockchain.
If you already have a smart contract which you would like to secure, contact us for a smart contract audit. Based on our auditing methodology, we can identify potential issues in your contract and provide you with a detailed report of its vulnerabilities and potential exploits. We have significant experience in developing smart contracts for our clients. Our portfolio includes over 100 projects, and we have developed hundreds of smart contracts, holding crypto assets worth millions of dollars.
Get in touch with us to learn more about our smart contract development expertise and to discuss your needs and requirements!