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Performance-Oriented Smart Contract Development Company

Performance-Oriented Smart Contract Development Company

A smart contract is an agreement between two people or entities in the form of computer code programmed to run automatically. The Bitcoin protocol, which basically records the proof of a payment, can be considered a primitive version of a smart contract.

Smart contract development services run on the blockchain, which means that the terms are stored in a distributed database and cannot be changed. Since the appearance of the digital currency Ethereum, the creation and execution of smart contracts has been simplified, since complex transactions can be programmed in its protocol.


1. The transaction is approved, which may be a transfer of funds.

2. The transaction includes the code that defines what type of transaction should be executed.

3. Transactions are added as a block within the blockchain.

4. Any change in the status of the contract follows the same process to be updated.


Next, we review some of the most used platforms when developing and executing smart contracts on the blockchain:

Hyperledger: An open source system developed by the Linux Foundation and which is not a cryptocurrency, but a flexible platform on which smart contracts can be developed.

Counterparty: this platform incorporates data into Bitcoin transactions , that is, it uses the blockchain of this cryptocurrency and allows contracts to be developed on it.

Polkadot: This is an alternative blockchain and is famous for its ability to host parachains, chains within chains, which allow for more transactions than usual.


Smart contracts have applications in all areas where traditional ones are currently signed:


Smart contracts will make it easier to store and keep records. For example, the millions of confidential patient medical records that must be stored and updated securely.


Most business activities depend on getting your financing approved, which is a time and resource consuming process. Thanks to smart contracts, this time can be drastically reduced.

Supply chains

Internet of Things devices can be used throughout the supply chain to record each step that a product takes and improve its traceability. In This will allow buyers earlier access to the property and update records automatically.

Real-estate market

Smart contracts can be used to record ownership of real estate more efficiently. In addition, its use can extend beyond flats, buildings or land and register all kinds of assets.

Human Resources

The use of smart contracts that record the academic titles, certificates and experience of a person can prevent fraud in resumes and thus facilitate the hiring of people, including companies, for the provision of a service.

Intellectual property

Many companies are dragged into years of disputes in court over the use of patents in the development of projects. Smart contracts can keep track of which part belongs to each company.


In addition to the registration of health data mentioned above, its application in this sector can range from drug traceability to cold chain management, health passports or clinical research.


Electoral fraud is a real risk in some countries and has been used as a political weapon to destabilize in others. Smart contracts make it possible to validate the identity of a voter and record her vote reliably.


This industry spends millions each year processing claims and filing claims. Smart contracts will automatically determine payment amounts based on the type of policy.


Smart contracts offer several advantages to the parties involved:

Reliability: The contract is securely stored on a distributed network and is Contract development company virtually impossible to tamper with or falsify.

Security: being in a distributed network, the contract is duplicated in all network nodes and cannot be lost.

Savings: by doing without intermediaries and commissions, there is a reduction in costs for all those involved.

Precision: this type of contract reduces to zero the possibility of errors in the terms or in the processing.

Sustainability: the contracts eliminate the use of paper in offices, notaries and registers, and by minimizing travel, pollution is reduced.

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