What is Smart Contract and How does it work?




A smart contract is an agreement between one to others in the form of computer code. They run on the blockchain, so they are stored in a public database and cannot be changed and its was built by using a blockchain platform for immutability and security purposes. This smart contract can be signed between two parties without third party involvement, terms & conditions are drawn according to the authority people. Once, when those terms & conditions are met, then funds are automatically transferred from one party to others. Smart Contract data are stored in the ledger which enhances it is security.

How Does it Work?

A smart contract is created using Blockchain methodology and the transaction is held between the nodes of two parties. This online transfer is the exchange of cryptocurrency and uses various altcoin and bitcoin are used for this trading purpose.

This smart contract is built with a set of codes like conditions, which is approved by belonged parties. Once, if the condition is satisfied then the cryptocurrency from the cryptocurrency wallet is automatically transferred to the other party. So, no one can be get cheated and lose the money at any cost.

Solidity language is used to build the smart contract which is a high-level language and designed to run on Ethereum Virtual Machine which is hosted on Ethereum Nodes that are connected to the blockchain. 

Advantages of Smart Contract:

  • Secured one
  • Trustworthy
  • Automated Monitoring
  • Irreversible
  • Reduce middleman cost
  • No hacking
  • No Paperwork
  • Accuracy
  • Speed
  • Automatic
  • Efficient
  • Transparency

Here I listed some of the top companies which can utilize smart contract in their business

  • Trading
  • Real estate
  • Education
  • Healthcare
  • Accounting & Finance
  • Insurance
  • Charities

Where to get a smart contract development service?

This smart contract can be created by the blockchain experts, there are numerous blockchain developers available out there among them, Developcoins is one of the leading smart contract development company in Blockchain industry that provides the best smart contract development services for all major business based on their requirements. The team of developers, experts who can provide the 360-degree smart contract development solutions that helps to create and adapt the smart contract protocols with customized and outstanding features. Developcoins develops smart contract based on major blockchain platforms like Ethereum, EOS, Tron and more.

Our Smart contract development services which include:

  • Smart contract audit
  • Smart contract optimization
  • Smart contract for DApp
  • Smart contract for DEX
  • Smart contract for Digital wallet

If you have any idea to create a smart contract for your business?


Feel Free to consult with our experts @ Whatsapp - +91 9843555651, Skype -live:Tech Innovate, Email id - sales@developcoins.com. For more details www.developcoins.com

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