Smart Contract Development

What is Smart Contract?

A smart contract is a program that can automatically execute the terms of a contract. It is typically written in code and stored on the blockchain. The term “smart contract” was coined by Nick Szabo in 1994. Szabo’s idea was to use computer code to create contracts that would be unbreakable, unlike their paper-based counterparts.

Smart contract is a way to make business more efficient and less time-consuming by automating processes and reducing human error. It can be used in various industries such as financial services, insurance, healthcare, supply chain management, and transportation.

What makes them smart is that they are not just simple scripts like in traditional programming languages; they have their own state and data which makes them capable of storing information about their past transactions.

Why Choose Blockchain Technologies for Development Process?

Blockchain is one of the most popular technologies that has been disrupting the business world in recent years. It is a decentralized ledger that records transactions in a distributed manner, making it more secure than traditional databases. The technology has already been introduced to the industry and many companies are looking for ways to incorporate blockchain into their development process.

The blockchain is an immutable digital ledger that stores data in blocks. These blocks are linked together to form a chain, with each block containing data about the previous block. This makes it difficult for any data to be changed or tampered with without being detected. This immutability is one of the most attractive features for businesses looking for ways to automate their processes and reduce costs.

Blockchain technologies can be used in many different ways including supply chain management, financial services, healthcare and more. They offer an opportunity for companies to get ahead of their competition by automating new business models and processes before

Full Report

Smart Contract Development Steps

Empathizing

  • Defining and understanding the participants and roles in the product being created – in the development process and in the target solution
  • Defining and understanding the end user

Problem definition

  • Defining the problem that exists in the market for a given user profile
  • Frame your problem statement according to specific users

Ideation

  • User story mapping. Defining the Product Backlog (scope of work) with the help of User Stories describing the processes
  • Sketches (low fidelity) presenting the user flow in the application
  • Definition of processes interacting with other modules

Building prototypes

  • High fidelity wireframes visualizing the graphical interface
  • Extending mockups with a clickable prototype
  • Database structure. Database model describing table and field structure

UI/UX Product Design

The key is to select the most important problems whose solution will significantly change the life of the target user. Thanks to such an approach, already at the stage of Discovery and Design, it will be possible to build a successful product on the market much faster. It is always worth asking yourself the question “what value does the feature give to our user? Is it worth the investment?”

Our Smart Contract Development features

Smart Connectivity

When transferring an NFT, ownership is transferred to the buyer via blockchain-powered smart contracts.

As the code stored on the contract isn’t changeable due to this being automated, there’s no way for third parties to interfere with it.

Decentralized and Autonomous

Our platform is completely governed by it’s users. Their decision rights are managed through our NFT marketplace and, in turn, they form the Decentralized Autonomous Organization (DAO).

This means that they can make contributions in order to upgrade the platform using NFTs.

Peer 2 Peer

Our escrow feature helps you find the best deals in the marketplace and get your money from buying or selling parties with confidence.

The blockchain makes this possible and we make you feel secure

Start working on your Smart Contract right away!

     
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    They recommend us

    Budlex

    From the beginning, GMI was able to anticipate possible risks and interruptions. The design environment was adapted to our working mode and was simple enough for the product owner to meet his requirements and those of the development team.

    Thanks to the great attention to the quality of the code, the project was delivered on time and there were no internal complications associated with the product development. However, there were external complications (service providers), which GMI helped to solve with us.

    See Case Study

    Coders Lab

    With the greatest pleasure and full responsibility, we recommend GMI as a professional contractor for web applications and CMS systems. We chose GMI primarily because they approached our inquiry very professionally. Very fluent contact at an early stage of talks announced that the implementation would be equally efficient and it actually was.

    If there is an opportunity in the future to jointly implement another project, we will definitely use the services of GMI again.

    See Case Study

    Q2 Smart Lockers

    I have worked with the GMI Group on many projects over the last 4 years. I have always been satisfied with the quality of the commissioned works, which were made by Mikołaj Lehman and his entire programming team.

    GMI has unique skills to translate ideas into reality. They are very efficient, discreet and, above all, trustworthy.

    See Case Study

    List of tools that we use for Smart Contract development

    Technologies we use