So, building smart contracts means you can get transparent, convenient, reliable transactions without getting any third parties involved.
General applications of smart contract include:
- Creating specific tokens for a variety of protocols to streamline operations and introduce verifiability
- Establishing pre-sales and sales phases of your cryptocurrency and blockchain projects
- Initiating public crowd sale for marketing purposes including bonuses, buy-backs, manual price changes, dividends, and discounts
- Adding escrow support to introduce more transparency and encourage mutual trust between stakeholders
- Custom functions and requirements your business may need for a particular crypto market
- Enabling more autonomy
Smart contracts can automate operations and replace third parties and can help you to reduce operational redundancy and to increase efficiency.
- Cutting down expenses
Businesses have the option to eliminate their reliance on manual labor. Using smart contracts businesses can reduce their expenses and risks, improve productivity in the long run which ultimately drives growth and progress.
- Introducing transparency
Since smart contracts are created on the blockchain, no single party can alter the terms once they are written.
- Bringing efficiency and accuracy
Smart contracts are driven by pre-specified conditions automatically. They are much more efficient in terms of executing redundant and repetitive tasks with a higher level of precision. So, it introduces enhanced transparency and the risk of human error disappears.
- Creating timely backup
All the documentation is automatically backed up through duplication and distribution. Moreover, these documents are stored on a blockchain which means they are much more secure as compared to centralized database storage.
What does ICODA offer?
- experienced team that will definitely find an applicable solution to accomplish your goals within a specified budget and timeline.
- implementation of numerous technologies (Bitcoin, EOS, Ethereum, Bitshares, Steamit, Polkadot, and etc).
- security audit tat will help your business to mitigate risks associated with blockchain development.