Connect with us

Crypto News

60 Use Cases of Smart Contract. solidity programming language | by ismail | Coinmonks | Jan, 2023

solidity programming language

A “smart contract” is simply a program that runs on the Ethereum blockchain. It’s a collection of code (its functions) and data (its state) that resides at a specific address on the Ethereum blockchain.

Smart contracts work by following simple “if/when…then…” statements that are written into code on a blockchain. A network of computers executes the actions when predetermined conditions have been met and verified.

Smart contract use cases are expanding rapidly as more people recognize the vast potential of this technology. To understand how smart contracts differ from traditional ones, consider the example of renting a property. A contract is typically created between the tenant and landlord, outlining the terms of the rental agreement, such as the date rent is due. However, traditional contracts can only be enforced through the involvement of a third party, such as a government agency. With the advent of distributed ledger technology, intermediaries are no longer necessary to oversee contracts. Smart contracts offer a revolutionary solution for many industries by allowing for direct, self-executing agreements.

There are many use cases of smart contracts, I have created a book where I have listed 60 use cases of smart contracts along with practical examples this is part — 1 of the book

These are the few examples of the smart contracts use cases with are listed in the book

  1. Decentralized exchanges (DEXs): Solidity smart contracts can be used to create decentralized exchanges (DEXs) where users can buy and sell cryptocurrencies without the need for a central authority.
  2. Initial coin offerings (ICOs): Solidity smart contracts can be used to create and manage token sales, also known as initial coin offerings (ICOs).
  3. Supply chain management: Solidity smart contracts can be used to create a decentralized supply chain management system, where each step in the supply chain is recorded on the blockchain, making it transparent and tamper-proof.
  4. Gaming: Solidity smart contracts can be used to create decentralized, blockchain-based games.
  5. Voting systems: Solidity smart contracts can be used to create decentralized voting systems, where votes are recorded on the blockchain, making them tamper-proof.
  6. Identity verification: Solidity smart contracts can be used to create decentralized identity verification systems, where users can prove their identity without the need for a central authority.
  7. Real-estate: Solidity smart contracts can be used to automate the process of buying and selling real estate properties, and also to record the ownership of properties on the blockchain.
  8. Crowdfunding: Solidity smart contracts can be used to create decentralized crowdfunding platforms, where users can contribute funds to support a project or business.
  9. Digital asset management: Solidity smart contracts can be used to create decentralized digital asset management systems, where users can securely store and manage their digital assets.
  10. Energy trading: Solidity smart contracts can be used to create decentralized energy trading platforms, where users can buy and sell energy in a transparent and tamper-proof manner.
  11. Health-care: Solidity smart contracts can be used to create decentralized electronic health records systems, where patients can control and share their medical records in a secure and transparent way.
  12. Social media: Solidity smart contracts can be used to create decentralized social media platforms, where users can share and interact with content in a transparent and tamper-proof manner.
  13. Crowdsourcing: Solidity smart contracts can be used to create decentralized crowdsourcing platforms, where users can contribute their skills, ideas and resources to support a project or business.

upto

60. …..

All these smart contracts are coded using Solidity Programming language.

So Grab you copy today

New to trading? Try crypto trading bots or copy trading on best crypto exchanges

#Cases #Smart #Contract #solidity #programming #language #ismail #Coinmonks #Jan

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *