Smart Contract Development
Full-stack blockchain development services including smart contract development and consulting for both public and private blockchain.
What is 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:
Blockchain technology is based on the principles of decentralization and transparency. This guarantees that the terms of conditions of the contract are visible by everyone on the blockchain and cannot be disputed.
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:
Define the business logic and requirements
The parties involved define the specific business conditions of the smart contract and communicate them to the developer.
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.
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.
An internal audit via a local blockchain and then a testnet is performed. The audit checks if the contract functions as intended, and meets all security standards.
Deployment on the blockchain
The contract is deployed on the marketplace on which it will operate.
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.
Complex smart contracts
Complex contracts include Decentralized Autonomous Organizations (DAO) and Application Logic Contracts (ALC).
- - 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
Develop smart contracts for your business needs with us and our custom smart contract development and deployment tools – Etherlime and EOSlime.
We also offer blockchain-agnostic smart contract development. This allows you to build a decentralized applications (dApp) that can interact with any blockchain.
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.