What is a smart contract platform?

Interacting with deployed smart contracts

Solidity’s code is encapsulated in contracts which means a contract in Solidity is a collection of code (its functions) and data (its state) that resides at a specific address on the Ethereum blockchain . A contract is a fundamental block of building an application on the Ethereum.

The smart contracts are written in C# and then wrapped with a web-based front end.

Examples of smart contract applications include financial purposes like trading, investing, lending, and borrowing . They can be used for applications in gaming, healthcare, and real estate; and they can even be used to configure entire corporate structures.

Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met . They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss.

Smart contracts are public on Ethereum and can be thought of as open APIs. That means you can call other smart contracts in your own smart contract to greatly extend what’s possible.

Steps to develop an Ethereum Smart Contract