NFT Smart Contract Development and Audit
.png)
What is a Smart Contract? Smart contracts can be described as digital contracts where the terms of the deal between two or more parties are set in the form of code. They are capable of verifying if the terms of the deal have been met or not. Smart contracts run on the blockchain, so they are kept on an open database and can't be altered or changed. Storing more data on the blockchain will be highly expensive and consumes a lot of energy and that’s why most NFTs are not stored on the blockchain. Therefore, the owner can always access the work by the link of the smart contract. What makes smart contracts ‘smart’? Smart contracts are chunks of code that carry out transactions automatically. These codes just check certain conditions and then perform the required action to complete the transaction, reducing the time, cost, and effort related to traditional contracts. Smart contracts are more secure, fast, and transparent as they are stored on the blockchain. Advantages of ...