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Introduction Of Smart Contract

Smart contract is a computer protocol designed to disseminate, verify or execute contracts in an information-based manner.Smart contracts allow trusted transactions without a third party. These transactions are traceable and irreversible. The purpose of smart contracts is to provide better security methods than traditional contracts and reduce other transaction costs related to contracts.

Features of smart contracts

Normalization: The smart contract is based on computer code, which can minimize the ambiguity of the language and is presented through a strict logical structure.

Irreversibility: Once the conditions are met, the contract will automatically execute the expected plan. Under the given fact input, the smart contract will inevitably output the correct results and be visualized in the display horizon.

Non-default: The transaction information on the blockchain is open and transparent. Each node can trace the transaction process recorded on the blockchain. The probability of default is extremely low.

Anonymity: According to the cryptography principle of asymmetric encryption, zero-knowledge proof, ring signature, blind signature and other technologies, on the blockchain, although the transaction process is public, the transaction parties are anonymous.

Advantages of smart contracts

First of all, he removed the intermediary. Allow users to establish contracts independently based on technology.

Second, transparency and fairness. The smart contract will use code to write the conditions clearly and record them on the blockchain. The whole process is executed by the program, and even the developer who wrote the code cannot tamper with it.

Third, flexibility. It allows users to establish contracts freely, even with a strange foreigner.In general, smart contract is one of the core technologies of blockchain.It not only plays an executive role in blockchain, but also is an application development direction of blockchain, which broadens the use scenarios of blockchain.Because of his existence, the blockchain has a broader stage.

The smart contract language used by TFSC is Solidity which is an object-oriented high-level programming language.The EVM adopted by TFSC supports most of the features of the Solidity standard, and has supported ERC-20, ERC-721, ERC-3525 and other contract standards. Compared with Ethereum, the implementation cost of TFSC contract is lower and the speed of chain up is faster. Other features have been adjusted due to the TFSC architecture model, and the specific differences will be detailed in the following sections.

Writing contract

You need to be familiar with the Solidity language to use smart contract-related functions. The links to Solidity are as follows: -Solidity document -EVM operation code -Solidity Writing examples

Smart contracts need to be compiled into EVM bytecode for deployment and execution. Here is a link for compiling Solidity smart contracts:

(Remix)[https://remix.ethereum.org/] (Remix document)[https://remix-ide.readthedocs.io/en/latest/]

The characteristics of TFSC that are different from the Solidity standard due to its architecture model are as follows: The basic transfer unit of TFSC currency in the contract is 1e-8 TFSC The contract does not support block variables TFSC account address includes multiple smart contract addresses Deploying contract Prerequisites For the time being, TFSC supports the deployment and execution of contracts on nodes, so if you want to deploy contracts, you need to have a tradable, running node and an account with a certain amount of TFSC coins to pay the service chargesgenerated during the deployment process. Binary code of smart contract. In Remix IDE, BYTECODE.object or Calldata is represented as a string of hexadecimal digits.

Deployment of contract

Create a new blank text file contract.txt and paste the contract binary code into the file

Copy the file contract.txt to the folder of the TFSC node Run the node

Run menu option 8.Deploy contract

Select the type of virtual machine running the contract

If the contract constructor has incoming parameters, enter the parameters binary code required for deployment (if there is Calldata in contract.txt, skip directly), otherwise enter 0 to skip.

Executing contract

Like deploying contracts, contract execution can only be performed on nodes temporarily.In addition, it is also necessary to know the contract deployer account and the transaction hash generated by the deployment transaction.

Executing contract

Run Menu 9.Call contract

Enter the contract deployer account

Enter the transaction hash of all running contract deployment

Enter the input required to run the contract to complete the execution of the contract.

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Introduction Of Smart Contract | by Ronintvmedia | Dec, 2023 - Medium