A smart contract helps to automate business processes
Development of smart contracts of any complexity for any turnkey blockchain. Still in doubt? Call us!
Learn About the Smart Contract Development Process
The most important stage of smart contract development is planning
A smart contract contains conditions for performing operations. Therefore, it is impossible to start work without preliminary preparation – the entire business process must be carefully worked out in advance so that the sequence of transactions is not disrupted. An analysis of the problem is required. If there is a logical error in the program, the smart contract code will not work predictably and, finally, will not perform the desired actions. In the worst-case scenario, your customers will lose their digital assets.
In addition, many different conditions can be placed in a smart contract – it depends on the complexity of the task. Interestingly, smart contracts can run each other, forming a complex system. That’s why the preliminary development of the algorithm is very important.
The process of developing a smart contract includes 5 steps.
Smart contract development journey
Preliminary Draft
The software architect carefully analyzes all the conditions of the problem and formulates them in terms understandable to the developer.
Algorithm Development
By designing the architecture, the smart contract developer prepares technical specifications based on which the programmer will produce the code.
Final Development
It implies the choice of an environment and a programming language and writing the code itself.
Testing
After the unit testing, the smart contract developer conducts an internal audit on a testing platform.
Deployment
Finally, everything is debugged, the errors are cleaned up, and the check is finished. Now is the time for the most important stage – deployment.
Development Tools
There are many environments for developing smart contracts and they all require smart contract development skills
There are countless tools for developing smart contracts, some of which are versatile, while others are designed for specific platforms. ICODA uses many of them, including tools for Bitcoin, EOS, Ethereum, Bitshares, Steamit, and Polkadot.
The Benefits of Smart Contracts
Smart contracts work without intermediaries
Automation
This method saves you time and resources and therefore reduces labor costs. The program works faster than any intermediary.
Performance Guarantee
A smart contract is a program that always produces the necessary results. This happens automatically without any intervention required.
Quick Performance
A contract is performed as soon as the condition becomes true. How fast digital assets can be transferred depends on the blockchain’s characteristics.
Lack of Intermediaries
A smart contract is transparent, non-prejudicial, and cost-effective due to the lack of intermediaries.
Secure results
The transaction cannot be canceled when a smart contract has been performed. It is registered on the blockchain, which is immune to hacker attacks.
Transparency
Since a smart contract is stored on the blockchain, its rules are precisely known. Anyone can use a smart contract.
Unambiguity
A correctly developed algorithm of a smart contract complies with the unambiguity requirements, which means that its performance results are well-defined.
Areas of Application of Smart Contracts Developed by ICODA
Below you will find just some of the examples of how smart contracts developed by our agency can be used. In fact, smart contract functions are virtually limitless.
The scope of application of smart contracts is limited only by skills smart contract developer
Tracking Goods in a Supply Chain
This is particularly important for goods with specific storage and transportation requirements. Registering the data on the blockchain at every stage leads to the timely discovery of any violations and helps to control the transportation process.
Resolving Disputes With Counterparties
The conditions of a smart contract are unambiguous, making disputes rare and easy to solve since all the rules are known in advance.
Simplifying Cooperation With Partners
This is particularly important in the case of remote cooperation, for example, between international partners. Thanks to precise goal setting, the conditions of a smart contract are transparent and easily understandable.
Real Estate Activities
Changing a blockchain record is impossible, which is why all transactions stored on the network unambiguously identify real estate owners and all the transactions involving such real estate.
Financial Transactions
Instead of expensive intermediaries, use smart contracts. Banks and notaries will cost you a lot, and their verification is not always reliable – it is impossible to rule out human error completely.
E-commerce
A smart contract can be used to set up any platform for sales, exchange, or other interactions. It is enough to develop the business logic once, and then the smart contract will work without the involvement of the owner.
Lotteries and Sweepstakes
Smart contracts solve the problem of honesty and transparency. In ordinary sweepstakes, no one can guarantee that the results are not rigged. With full automation on the blockchain, this becomes impossible.
Public Services
So far, smart contracts have been officially used for voting. The token of each citizen is a confirmation of the vote that can be cast for the candidate. But the potential opportunities for the public sector are much greater.
ICODA Develops Smart Contracts of Any Complexity
A smart contract can be used in any field of business and developed on the appropriate programming languages
Our agency has a highly motivated and skilled team. We create working programs with high efficiency and accuracy. In almost any business, there are many time-consuming routine tasks. Contact us, and we will help you to automate such processes using smart contracts.
We work with the following types of smart contracts.
DeFi
The smart contract will encode the business logic of your dApps and guarantee to solve complex tasks.
DeX
Build your own centralized or decentralized exchange based on a set of smart contracts. The solution includes data protection, private keys, and many other features.
Digital Wallets
The use cases of smart contracts in this sphere are limitless. We will help you set up a wallet that is equally reliable for NFTs and other tokens, ensuring fast transactions with specified conditions.
DAO
A decentralized autonomous organization is a project that can run entirely on smart contracts. As there is no control center, users are protected from individual incorrect decisions or unscrupulous organizers. All members of the community have the right to vote for the future of the project. It is enough to be only the owner of tokens.
The Benefits of ICODA in Smart Contracts Development
Smart contract development from professionals
Powerful Analytics
We have an extensive portfolio and solid experience working with smart contract projects. Based on such experience, our analysts can quickly analyze your business and develop its model from the perspective of automation.
Agile Development
We will develop a reliable and precise smart contract that performs routine operations and increases the accuracy of mutual settlement. We work with contracts for various platforms.
Optimization
We use optimization models to make our smart contracts effective and cost-efficient. We aim to reduce the fees that are required to execute a smart contract without compromising its main advantages — high speed and accuracy.
Security Audit
We test the logic, safety, and efficiency of smart contracts both manually and automatically. Our audit team presents a report to the smart contract developers, who can then introduce the required changes.
Confidential Development
ICODA guarantees that it will not disclose any commercial or other information related to your business. Thanks to efficient distributed access control, we protect the confidentiality of your data.
Technical Support and Maintenance
Our cooperation does not end with the launch of your smart contract project. You may rest assured that our employees will answer any questions and provide any help you need.
Looking for New Opportunities
We will not only code, test, and deploy your smart contract but also provide consulting services to help you develop your business and tell you about other ways of using such a powerful tool as a smart contract.
Why Do You Need a Custom Contract?
Turnkey smart contract development is the best solution for your business tasks
To create projects with smart contracts, you can use universal constructors and platforms. However, this approach has a number of disadvantages:
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security and data protection issues;
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inability to implement specific tasks;
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reduced fault tolerance.
Currently, there are many versatile solutions for smart contracts. However, they usually solve only the most common tasks and rarely comply with the specific requirements of a particular business.
If you contact our agency to develop smart contracts, you can always be sure that your tasks will be treated with an individualized approach. We thoroughly analyze the situation, choose the solutions together, and plan out the best budget for project development.
ICODA Is the Best Solution
Our unique development experience for blockchain technology allows us to quickly understand the task at hand and offer the best solution. We can create for you a simple, smart contract with one condition or a whole interconnected system of algorithms. Each project is carried out strictly in accordance with an individual approach.
You will also receive technical support from us. We are able to develop a project of any level of complexity from scratch and turnkey, including promotion.
If you have not yet decided what you want to get, ask for advice. Our specialists in design, programming, marketing, and PR are always at your service. We are interested in long-term cooperation with each client.
