What is a smart contract?
Any blockchain network is based on smart contracts. They are digital forms with a predefined set of transaction rules. When the rules are met, the transaction automatically executes. Also, the execution of the transaction is terminated if something goes wrong.
What are the benefits of smart contracts?
Smart contracts automate several processes, reduce costs and time required to negotiate, and enforce the terms and conditions of the agreement. Also, they are immutable, transparent, and secure which makes them tamper-proof.
Why are smart contracts better than normal ones?
When signing normal contracts, you have multiple rounds of discussion and need third parties like lawyers, etc. Negotiations end in a lengthy document that must be signed by multiple parties. Smart contracts are signed between two parties. Digital agreements are immutable, secure, transparent, and tamper-proof which allows you to build more trustworthy business relationships.
How much does it cost to hire you as a smart contract development company?
The cost of smart contract development is calculated individually as it depends on multiple factors. The most influencing ones are the complexity of future product development, business analysis, and support services.
How much time does it take to develop a smart contract?
Just like the cost of the product, the time needed to develop a smart contract is calculated individually. Future features and functionality influence it the most.