An essential checklist for Smart Contract Development
With the entry of bitcoins in 2009, the underlying blockchain technology spurted to fame. Today there is an umpteen number of cryptocurrency in the market, and this brings to light the need for some regulation. Smart contracts are digital contracts that serve the purpose of regulating transactions by using codes that get executed automatically if the conditions are met. Before developing a smart contract, it is essential to bear in mind a few things like - Smart Contract Development The feasibility of smart contracts in your industry While blockchain technology has dramatically altered the dynamics of financial transactions, it is essential to consider whether a smart contract will meet the requirements of the industry you are working in. Unlike the financial sector where cryptocurrency has made far-reaching changes, the other domains and industries have been less receptive to cryptocurrency based transactions. Acknowledging the drawbacks of smart contracts While a sm