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Development of Smart Contracts

  /  Development of Smart Contracts

Development of Smart Contracts

To always be up to date on the latest technology, we propose a service based on an emerging technology: the development of smart contracts

What is a smart-contract ?

A smart contract is a decentralized application that securely runs without the possibility of stopping it or censoring it.

It runs on the Ethereum blockchain.

… And the blockchain?

A blockchain is a decentralized register of transactions. The features of a blockchain are:

each mined block contains dozens of transactions but also an imprint of the previous block that allows minors (those who write the blocks in the blockchain) to verify the consistency of the data. They do this at each stage of a block addition.

the difficulty of mining increases at each new block mine.

the system is decentralized for each node of the blockchain network (Ethereum or Bitcoin, for example) shares a copy of the registry

Bitcoin ?

Bitcoin was the first created blockchain (in 2010), with the goal of having a money/currency whose exchange would not require any banking organization.

Ethereum ?

Ethereum was designed to run programs within a “global computer”. Its programs are the famous smart contracts. There is a currency in Ethereum that is the ether (ETH). It is most notably used to pay transaction fees.

What is the purpose of all this?

This can have different uses if we keep in mind the goal of a blockchain: be able to execute transactions without the need of a trusted third party.

Concretely, this permits for example:

Create loyalty points (which we do with TavuxCoins !) or reduction coupons

Certify exchanges of goods and services (like verify the work of services or to buy an apartement)

Create an independent automized organization (like an association that auto runs with full transperency)

Create automized fundraising

Breed crypto-cats