A Smart Contract is a computer protocol which enforces negotiation between two or more parties based on the given contractual clauses. It’s also called a self-executing will which executes itself when exposed to a certain trigger event. The trigger event can be any kind of data input. The transactions made through smart contracts are traceable and irreversible. Smart Contracts are decentralized and make use of the Blockchain Technology. They can be used for the exchange of money, property, assets, shares, stocks, bonds and commodities. And thus, there has been an upsurge in the use of smart contract development services.
A smart contract binds two or more parties by the contractual clauses and doesn’t require a third party, central system or external enforcement mechanism. As defined by Nick Szabo who first proposed the concept of Smart Contracts in 1994, these are the computerized transaction protocols that automatically execute given terms of a contract.
Why Oodles Technologies for Smart Contract Development?
Oodles Technologies offers world-class Smart Contract Development Services at the best market price. We have our niche in Blockchain Applications Development and it’s our forte to deliver the best-in-class smart contract development services to our clients. We also have our expertise in Cryptocurrency Development, Wallet Development, and Trade/Exchange Development Services.