Ethereum and Smart Contracts: the automation of process
Ethereum is definitely the pupil who became the master.
The blockchain platform learned everything it could with the Bitcoin network and, right now, it’s the master of distributed ledger technology. With Ethereum, building blockchain applications, solutions and software became easier.
Now, the big thing in the platform is Smart Contracts. The self-executing digital contract works in an independent way, without the need of any human intervention. Once the clauses are defined, the contract becomes automatic.
Smart Contract Development on Ethereum can be a revolution for a great number of industries. Because of the self-executing nature of the computer-based contract paperwork will turn into an obsolete process and make the work of lawyers and accountants, for an example, simpler.
But how does a Smart Contract is built? Well, there are 4 basic steps for its development process:
Gathering the requirements - Understand the idea of the contract, what are the settlements and what it is going to be used for.
Technical Designing - This step is for defining the technical details of the digital contract, such as architecture design and data flow diagram
Detailed Development - The actual development of the Smart Contract and its structure
Smart Contract Development & Upgradation - The Smart Contract is ready, now it’s time to deploy it and on the main network.
Build a Smart Contract from the scratch can be very hard and time-consuming. But if you are looking to develop one, Blockchain App Factory is ready to help. The leading company in blockchain solution has a great team os developer that will hand out to you a top-notch Smart Contract Development on Ethereum.