A smart contract can be described as a computer protocol designed to verify, facilitate, or enforce the execution or negotiation. Smart Contracts make it possible to execute transactions without the involvement third parties. Smart Contracts are transparent, conflict-free, and without the need for intermediaries. It is similar to a vending device. Generally speaking, you visit a notary or lawyer to get the document. Smart contracts let you drop a crypto token like bitcoin into a vending machines and then your escrow or social identity will be transferred to the account.

Smart contracts not only define penalties and rules like traditional contracts, but also enforce obligations automatically. This article will describe how to create smart contractual on Stellar Blockchain. Stellar Blockchain allows you to decentralize financial functions.

Stellar Smart Contracts What are They?

Stellar Smart Contracts, also known as Smart Contracts, are used to refer to smart contracts. Stellar Smart Contracts are made up of connected transactions and executed transactions. They can be expressed using different constraints. Below are some examples for constraints that can be used when creating SSCs.

• Multisignature: What keys will be required to authorize a certain operation? What are the required parties to agree on a specific circumstance? Multisignature is a concept that requires signatures by multiple parties to sign transactions originated from an account.

• Atomicity/Batching: Which operations must occur together to make it work or it will fail? What should happen to cause this to fail? Batching refers the practice of using multiple operations to create one transaction. Atomicity is a system that ensures that any transaction involving a particular series of operations submits to the network without failing.

• Sequence: When should a transaction series of transactions be processed? What are the dependencies of each other and their limitations? You can see the sequence number of the sequence concept on the Stellar Network. In transaction manipulation, you can leverage sequence numbers to ensure transactions do not execute if a different transaction is submitted.

• Time Bounds: When can a transaction go through? Time bounds define the limits on the validity period of a transaction. A time bound allows you to represent time periods in an SSC.

These are the steps you need to create Stellar Smart Contracts

Stellar Smart Contracts can be created with the Node JS, Stellar Javascript SDK and Stellar test net.

You can create pairs of seed/public key pairs

The Stellar SDK provides a random key generated method:Stellar.Keypair.random()2 pairs are created and saved locally in a file to run the scripts one after the other.

Add funds

A stellar account must have a minimum of Lumens (XLM), which is validated by this platform. The testnet offers a friendbot that grants you 10000 lumens for free. If you want to use the testnet for real purposes, you’ll need to connect to an exchange platform and add XLMs (Lumens) to an account. Once you have executed the script, verify that 10,000 Lumens has been transferred to your account.

Read More: https://www.leewayhertz.com/create-stellar-smart-contracts/