HOW TO CREATE STELLAR SMART CONTRACTS?

A smart contract is a computer protocol that verifies, simplifies, or enforces the execution or negotiation of a contract. Smart Contracts allow transactions to be completed without the intervention of a third party.

Smart Contracts enable the conflict-free and transparent exchange of money, shares, property, or anything else of value without the need for a middleman. We'll use the example of a vending machine to explain smart contracts. You usually see a notary or a lawyer, pay them, and then wait for the paperwork to arrive.

To activate your escrow, social identity, or other services, smart contracts merely demand the placement of a crypto token, such as bitcoin, in a vending machine. Smart contracts, regardless of the contents of the account, apply fines and limits in the same way that regular contracts do, but they do so automatically. This tutorial will teach you how to build smart contracts on the Stellar Blockchain, which is one of the most popular blockchain systems for decentralised financial transactions.


What are Stellar Smart Contracts and how do they work?


On the Stellar Network, smart contracts are referred to as Stellar Smart Contracts. A Stellar Smart Contract (SSC) is a set of completed and linked transactions linked by a set of rules. Some examples of restrictions that can be used when designing SSCs are as follows:

  • Multisignature: 

What keys are necessary in multisignature to authorise a given operation? Before action may be taken, which parties must agree on a condition? Multisignature refers to the concept of requiring multiple parties' signatures to sign transactions originating from a single account.


  • Atomicity/Batching:

What operations must all be completed at the same time or the system will fail? What has to happen for something to prosper or fail? Batching is the process of combining numerous actions into a single transaction. When a set of operations is submitted to the network, atomicity assures that if one fails, the entire transaction fails.


  • A Transaction series:

sequence is the order in which it should be completed. What are the constraints and ramifications? A sequence number represents the concept of a series on the Stellar Network.When it comes to transaction manipulation, using sequence numbers to ensure that specific transactions do not run if another transaction is filed is a good idea.


  • Transaction Limits:

When may a transaction be completed? A time constraint is a limit on how long a transaction can be valid. Time periods can be expressed in an SSC by employing time boundaries.


Read More : https://www.leewayhertz.com/create-stellar-smart-contracts/

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