The promise of smart contract adoption is held back by crypto silos
Smart contracts present one the most promising tech solutions for business, but there are still barriers that have to be addressed. The internet is buzzing over recent developments in decentralized finance, or DeFi — smart contracts are hotter than ever. You might think you missed the coronation ceremony, but smart contracts are actually used in only a small corner of the crypto world, albeit a corner worth billions of dollars. It’s a promising concept that has gone widely unused in the business world.Despite the headlines and in spite of crypto-cloistering, smart contracts are not....
Related News
Solidity and EVM make smart contracts available to every developer out there, regardless of experience. This is a good way to boost innovation in the smart contract space, but may not yield the best results in the initial stages. The recent debacle surrounding The DAO has shed an interesting spotlight on smart contract technology. Since individual developers wrote the entire concept of this project, it looks like smart contracts are not completely trustless. There is still a lot of work to be done before this technology is ready for mainstream adoption. Not everyone is capable of – or....
Stellar Development Foundation (SDF), a non-profit organization focused on the growth of Stellar blockchain, has launched a $100 million fund to accelerate native smart-contract adoption. Soroban, the smart-contract platform that builds on the Stellar network, will incentivize funds among developers to create new tools and applications for better network performance. Opposite to the current market […]
Defi insurer Cover Protocol, designed to reduce smart contract failure risks, was exploited by a bug in its smart contract on Monday morning.
Smart contracts hold tremendous promise as the 'killer app' for blockchains. If you're not familiar, a smart contract is a computer program that automatically executes the terms of a contract on a blockchain. In principle, you can use smart contracts for a wide variety of purposes, such as wireless service contracts, apartment and hotel room rentals, freelance work contracts, automating payments – anyplace you'd want to cut out the middle person. With more than $17bn in assets stored in just the top 10 cryptocurrencies, there currently is a huge opportunity to give existing blockchain....
Susanne Tarkowski Tempelhof, Founder and CEO of Bitnation, explains to Cointelegraph how smart contracts can lower costs of your business. Cointelegraph: What are Smart Contracts about? Susanne Tarkowski: Smart contracts are applications ‘living on’ the Blockchain, and therefore can’t be censored. Simple, immutable and autonomous applications, basically. As Primavera de Filippi eloquently phrased it during her talk at OuiShare Paris 2016 “Smart Contracts are neither smart nor contracts...”. But ironically, smart contracts are however ideally suited to be… well… contracts! In essence, your....