Blockchain applications Development

Blockchain is decentralized as there is no central authority controlling it. There are many applications of blockchain technology. It is similar to the internet in quite a few ways, but unlike the internet, transactions that occur on the blockchain are immutable and cannot be altered. For the supply chain industry, this is a perfect solution. The major advantage of using blockchain is its nature of recording every transaction are providing the complete truth. A supply chain that employs blockchain can keep track of its products without any hassle. A more transparent system prevails with the exceptional benefits of blockchain technology. Now, smart contracts that run on a blockchain network can digitize all the paperwork involved and create automated workflows. They can also execute automatic payment on the fulfillment of certain predetermined conditions. Want to integrate blockchain technology into your business and build your smart contracts ? Blockchain App Factory is a lead

Blockchain has been embraced in various industries that have clearly seen its potential and positive effect. One of the industries that have not yet explored blockchain to its fullest is the energy sector. The possibilities with blockchain in the energy sector are limitless. The direct peer-to-peer system allows energy producers to directly connect with those who are in need of energy. Another indispensable application of blockchain is a smart contract. These smart contracts are digital contracts that run on a secure blockchain network. They can be coded in a way to execute payments from buyer to seller as soon as the energy is delivered. Everything is recorded on the blockchain network and therefore there is more accountable management of energy resources. Smart contracts can really be effective in businesses especially in major industries like energy. For smart contract development that is a cut above the rest, Blockchain App Factory is the ideal company to approach. Their

Smart Contracts - Are They Really Smart? Smart contracts govern the way in which a blockchain function. The immutability of the blockchain extends into smart contracts as well - a smart contract once coded cannot be modified. This is one of the primary reasons for the blockchain and the data in the blockchain being super-secure. There is no way to edit the data on the blockchain, and there is no way to circumvent the conditions laid out on the smart contract.   Smart contract development This advantage has made blockchain highly dependable for financial transactions, maximizing security and minimizing efforts and expenses, both in time and money. However, sometimes, the biggest boon also becomes the biggest bane. Any software is supposed to have some room to ‘evolve’ and smart contracts, by virtue of their immutability, lack that attribute. Anything that doesn’t change according to the changing times cannot be honored with the prefix ‘smart’, and smart contracts should not be a

Smart Contracts - Are They Really Smart? Smart contracts govern the way in which a blockchain function. The immutability of the blockchain extends into smart contracts as well - a smart contract once coded cannot be modified. This is one of the primary reasons for the blockchain and the data in the blockchain being super-secure. There is no way to edit the data on the blockchain, and there is no way to circumvent the conditions laid out on the smart contract. This advantage has made blockchain highly dependable for financial transactions, maximizing security and minimizing efforts and expenses, both in time and money. However, sometimes, the biggest boon also becomes the biggest bane. Any software is supposed to have some room to ‘evolve’ and smart contracts, by virtue of their immutability, lack that attribute. Anything that doesn’t change according to the changing times cannot be honored with the prefix ‘smart’, and smart contracts should not be an exception. Upgradable

Ever heard of the DAO or Decentralized Autonomous Organization? Well, it was the only smart contract that was going to transform Ethereum forever. It was actually aiming at funding all future Decentralized Applications. However, this revolutionary dApp shut down only because of a small issue in the smart contract code. A hacker siphoned away a whopping $50 million worth of Ether. This had led to an exponential increase in Ether's value and the whole drama split the Ethereum community into Ethereum and Ethereum Classic. Smart contract auditing That is why smart contract security auditing is very important. So, investing in high-quality auditing services is a must. Modern smart contracts face a major issue in today's market i.e. over-engineering. As smart contracts are developed by multiple developers at the same time, it results in high complexity leading to an increase in the attack surface of the Dapp. If you are feeling worried after knowing all that, your days of woe

While blockchain technology involves the secure transfer and storage of information on a distributed network of computers, it does so without relying on any third-party regulator to govern its functioning. Today, blockchains are an integral part of cryptocurrencies and continue to play an important role in guaranteeing the anonymity and security of the many digital assets. As the blockchain technology is ever-evolving, it has introduced a slew of features that have enabled it to become increasingly decentralized. One of these features is smart contracts. Smart Contract Auditing Smart contracts are nothing but programmable protocols that help automate processes on the blockchain. Developers can write smart contracts to execute a variety of activities that range from verifying users or transactions, transferring funds, exchanging information and even enforcing legal agreements. Offlate, smart contracts have gained a lot of importance because they have helped optimize processes on

We all know how the healthcare sector is infested with a lot of issues like loads of unwanted costs, bureaucracy, and thousands of middlemen. It is no doubt that the healthcare industry is not far from its disruption days. In fact, if e-commerce companies like Amazon and Flipkart start entering the drug prescription market, it will prove to be detrimental for all traditional brick-and-mortar pharmacy shops. Actually, with new technologies like blockchain and smart contracts, the healthcare industry can be revolutionized with better efficiency and transparency in all processes. Some of the ways through which  smart contracts can help the healthcare sector are as follows: Patients can be given full control over their data that will be encrypted using cryptographic techniques, for instance, electronic health records. Transparency and integrity in tracking the entire trail of drug supply. Watermarking of data, making it easier to trace back to the sources of data leaks. Better

One might wonder how smart contracts and the gambling industry can be even linked with each other. Well, blockchain technology has immense potential to transform any industry with its countless benefits like transparency, privacy and security of transactions. So, why will the gambling industry lag behind? According to Statista, the size of the global online gambling market is increasing exponentially. In fact, the value of online gambling market is estimated to reach $94.4 billion by 2024. Interesting, isn’t it? If that is the case, startups and entrepreneurs should not lose such a golden opportunity to integrate blockchain technology with the gambling industry. Smart contracts can be applied to Ethereum-based gambling sites and allow anyone worldwide to make bets on any commodity. Smart contracts are nothing but unalterable lines of code that can take inputs and return outputs. Users across the entire blockchain network can interact with each other as the code of the smart co

Equity tokens are gaining much popularity in the recent days. Today, if any company wants to sell its physical products or services, equity tokens can be the best option for raising capital. From ownership and control characteristics to asset ownership representation, equity tokens are one of a kind. That is why these tokens are issued and regulated heavily in many countries. Some of  its major advantages include: As they are similar to stocks and shares, equity tokens form the most proven token economy in the world. Since it is possible to issue equity tokens as non-voting shares, one can have full control of the company allowing people to invest safely. As long as your company is making money, all the tokens will retain their value. In the near future, Equity Token Offerings are going to rule the crypto-space as they are safer than any other ICO created until now. Blockchain App Factory is one of the leading cryptocurrency development companies that can help you with

From providing high security to thorough analyzing of codes, smart contract auditing has become a part and parcel of all leading crypto-businesses. You can actually build your own static code analyzer or even perform a complete automated analysis of all issues found in the applications. Smart contract Auditing Apart from this, the businesses can also widely analyze smart contracts with the frontend as well as the backend. Besides, analyzing the application’s logic for any backdoors or discrepancies is also vital for ensuring the proficiency of the applications. Moreover, auditing ensures the reliability of the architecture of the system and the smart contract codebase. If you ever wanted the best-in-market smart contract auditing services and are aiming at specializing in application security for blockchain applications, Blockchain App Factory is the best place for you. We provide top-notch blockchain services and work in cooperation with our team of expert developers to del

Today, smart contracts have become a necessity for all the companies that have adopted blockchain technology for developing their products and services. If you are thinking of achieving massive success in the crypto space, adopting smart contracts is one of the definite things you must do for more efficient and seamless processing of agreements among the various parties in a network. In fact, Ethereum-based custom smart contract development can be a boon for your business in many ways: Eliminates the need for any third-party intermediaries Promotes an efficient and automated business process Ensures data security and trust between parties Saves operating costs Blockchain App Factory is one of the leading blockchain and cryptocurrency development companies that have expert teams of experienced full-stack blockchain developers. We offer a wide range of smart contract development services using Ethereum and can actually guide you through the whole process of development e

According to a survey conducted by Forbes, 65% of the executives focussed on transportation believe that the logistics industry will experience a tectonic shift from traditional methods to better technologies. Well, those days are not far when blockchain technology will revamp the entire supply chain and transportation industries. One may usually relate blockchain with Bitcoin or other cryptocurrencies.  But, there is more to the technologies affiliated to the blockchain and this includes Ethereum Smart Contracts. So, how will smart contracts be a boon for the logistics industry? Let us take a look. Smart contracts are highly efficient in performance and adept at quickening and simplifying the functions and processes of the logistics industry. Moreover, implementing them in the supply chain industry will give a clear picture of how they are beneficial for this field. Blockchain Smart Contracts Transparency and Clarity Of Agreement Terms As it is based on the blockchain, th

Although smart contracts have enabled easier transactions, they have become prone to hacks and errors due to vulnerabilities in the smart contract development process. These attacks have affected companies and result in a substantial amount of money to be lost in the process. Cryptocurrency hacks commonly take place when an error in critical functions are exploited that can lead to an array of problems ranging from locked funds to complete annihilation of contract. The prevalence of these exploits has doubled over the years according to a recent report which also identified more than 34,000 trace vulnerabilities out of almost 1 million analysed. It becomes pertinent, then, to develop corrective measures for reducing the instances of smart contract hacks.Some developments include erosion of smart contract language that reduces logical ambiguity which may hinder the process of clarity in contract languages. Other programs initiated to focus on early warning systems to create

The blockchain technology has successfully commanded the attention of the general public for a while now. Although it was the popularity of bitcoins that essentially put blockchain on the roadmap to familiarity, blockchain technology has begun to revolutionize the way the E-commerce industry operates with the introduction of smart contracts. The application of blockchain technology is best observed in the way smart contracts are designed. Smart contracts are basically agreements that auto-execute when all the parties involved fulfill the terms and conditions required. These agreements are then stored on blocks of data protected by cryptographic encryption. Smart contracts have proven extremely important for E-commerce operations. When a user makes a purchase through an e-commerce platform, the smart contract is programmed to release the value of the purchase into the seller’s wallet only after both the buyer and seller have met the conditions required to meet the transaction p

Multilevel marketing of bitcoin software is more popularly known as bitcoin MLM. Bitcoin MLM software has made an indelible mark in the industry.and bitcoin development has opened new avenues in the market. The company is endowed with an expert team of cryptocurrency developers who provide top-notch bitcoin MLM software. Blockchain App Factory is known to employ methods that have stood the test of time.By using state of the art technologies, Blockchain App Factory is indoubtedly the market leader in cryptocurrency development services. At present, the company offers various types of MLM software like HelpingPlan, Level Income Plan, Board Plan, Binary Plan and Generation Plan. These MLM software come loaded with a host of beneficial features that distinguish the expertise of Blockchain App Factory’s talented pool of developers. This integrated approach is backed by a solid security systems in place like SSL and higher level encryption. Consult with Blockchain App Factory now to

Smart Contracts by being self-executed, need to be continuously checked for security flaws and vulnerability holes in the code. This process of carefully executed investigation into the code of a smart contract is referred to as auditing a smart contract. Any product that is up for a clearly defined purpose needs to be checked for quality before launch. That is precisely what auditing a smart contract involves. Smart Contract Auditing A smart contract can be subjected to different forms of attack which mandates the need for an audit. Some of the few attacks that smart contracts regularly face are - Race Conditions refer to the system’s behaviour where the chain of events does not occur as per the expected chronological order. In Smart Contracts, this attack usually happens when external contracts take over control flow. Another type of attack happens when some function is called repeatedly before the instruction for the first function is completed. Often multiple directions