What are smart contracts?
The term “smart contract” itself is a bit unfortunate, since smart contracts are neither particularly smart nor are they to be confused with a legal contract: (I) A smart contract can only be as smart as the people coding it, taking into account all available information at the time of coding; (II) While smart contracts might have the potential to enforce legal contracts if certain conditions are met, we first need to resolve many techno-legal questions which will require time and interdisciplinary discourse between lawyers and so ware developers.
Smart contracts, one of the best virtual services available in blockchain technology that focuses to entitle with a coded agreement between two parties triggered through a series of events with high-security offerings. Being one of the best smart contract development company, Crypto soft India has been developing such futuristic integration for best user experience as well as to keep your business move forward with current technologies.
Our smart contract services
As Smart Contracts are self-verifiable, tamper-proof, and self-executable, they have the ability to convert legal obligations into an automated process, resulting in providing greater security. Being a leading and pre-eminent blockchain development company, Crypto soft India offers numerous Smart Contract development services. Our skilled team of developers has expertise in creating all types of contracts in several platforms namely Ethereum & Hyperledger.
Our smart contract development process
Understand Use case
Use case of smart contracts should be clear before development is started, developer should gather all the information of smart contracts like business logic, also all the 3rd party libraries that developer will use while developing a smart contract.
A basic architecture depicts the business logic of smart contract. Architecture design in the initial phase help developers to follow the exact path during development phase.
After comprehending your requirements and analyzing the end-goal of your company, our smart contract developers understand the main aim of your contract and start writing the code for it.
Our QA team tests the first version of your smart contract and ensures that it is 100% bug-free. For the initial safety, our team first tests the contract locally on a local dev blockchain
Now, we will deploy your contract in production. Once the contract is deployed on the live blockchain, it will stay there forever and can’t be changed, so we ensure that it thoroughly tested and audited before deployment.
Smart contract service uses in Industries
Hospitals and healthcare centers adopt this technology to secure patient data sharing between platform. It will also improve collaboration between health data providers that results in higher probability of accurate diagnoses.
Smart contracts allow transport and logistics businesses to track product flow in a granular fashion from manufacturer to store, simplifying the tracking process and providing real-time visibility across the entire supply chain.
Using smart contracts, transport and logistics businesses track product movement from the factory to the store shelves. It will also simplify the tracking process by providing real-time visibility of an entire supply chain.
Smart contracts streamline management operations in the real estate industry in the main property transaction areas such as leasing, purchasing and sales. The technology reduces the burden of paperwork and financial costs.
Financial institutions apply Ethereum smart contracts, using the technology to improve data quality, strengthen investor protection and enhance the function of financial markets.
In the banking industry, Ethereum smart contracts can be used to improve data quality, strengthen investor protection and enhance the function of financial markets. Banks like Barclays and Credit Suisse are endorsing the use of this technology.