Billions of $ are transitioned every day through a piece of code.
This piece of code is a Smart Contract
Smart Contracts 101: simplified explanation 👇🧵
This piece of code is a Smart Contract
Smart Contracts 101: simplified explanation 👇🧵
1. Smart Contracts?
Smart Contracts are some lines of code written to run a set of commands according to agreed conditions between two parties.
Instead of physical contracts, these ones are digital and live in the Blockchain.
What is Blockchain?
Smart Contracts are some lines of code written to run a set of commands according to agreed conditions between two parties.
Instead of physical contracts, these ones are digital and live in the Blockchain.
What is Blockchain?
https://twitter.com/here_is_abrams/status/1484896156270448640
2. Code?
Smart contracts are built by a set of functions and variables.
This set will create an agreement between what a user does and what he receives.
...⬇️
Smart contracts are built by a set of functions and variables.
This set will create an agreement between what a user does and what he receives.
...⬇️
3. Example
One of the use cases will be the minting of NFTs.
A Contract with a mint will have a set of functions that when called will trade coins (the price) for an NFT (the good).
It will then store that you own that NFT ID
One of the use cases will be the minting of NFTs.
A Contract with a mint will have a set of functions that when called will trade coins (the price) for an NFT (the good).
It will then store that you own that NFT ID
4. Base Concept
The main idea behind a Smart Contract is to create digital trust.
In an era where our life is digital, we need some way to trust the other side.
In the past physical contracts would do that.
Now a smart contract will deal with the trust, automating it.
...⬇️
The main idea behind a Smart Contract is to create digital trust.
In an era where our life is digital, we need some way to trust the other side.
In the past physical contracts would do that.
Now a smart contract will deal with the trust, automating it.
...⬇️
5. But how do I trust it?
First, it's code, not depending on a human
Second, as it lives on the blockchain it's public, you can read it and audit it.
For example:
- etherscan.io/address/0xbc4c…
First, it's code, not depending on a human
Second, as it lives on the blockchain it's public, you can read it and audit it.
For example:
- etherscan.io/address/0xbc4c…
6. How do I write it?
First, you shall use a language that is ready to create Smart Contracts.
For example:
- Solidity
- Rust
- Javascript
- Vyper
- ...
First, you shall use a language that is ready to create Smart Contracts.
For example:
- Solidity
- Rust
- Javascript
- Vyper
- ...
7. Look into standards
A lot was already written Smart Contract wise.
You've probably heard about ERC20 and ERC721.
These are some examples of standards that you can look into to have a base to create your own, or even use and build on top of it.
A lot was already written Smart Contract wise.
You've probably heard about ERC20 and ERC721.
These are some examples of standards that you can look into to have a base to create your own, or even use and build on top of it.
8. Let's start writing!
Choose your language and just look into the documentation and start writing and testing.
Here are some starting points:
- solidity-by-example.org
- docs.solana.com/developing/cli…
Choose your language and just look into the documentation and start writing and testing.
Here are some starting points:
- solidity-by-example.org
- docs.solana.com/developing/cli…
That's it for today friends - thanks for reading.
Follow me @here_is_abrams
to learn more about:
• Web3 Dev
• The journey of a Web3 Dev
Follow me @here_is_abrams
to learn more about:
• Web3 Dev
• The journey of a Web3 Dev
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