Although you have Cardano or Solana chains today, Ethereum is still the absolute hub for smart contracts. Historically speaking, Ethereum blockchain is the pioneer chain for the 21st century smart contracts that we work with today. A revolution in itself, ethereum smart contract covers a wide range of applications- from insurance claim settlement to real estate transactions to supply chain management to crowdfunding to digital asset protection to voting- ethereum smart contract is applicable for all these and more. visit here
Ethereum smart contract
Well, the post below offers a step-wise guide on developing smart contracts on the Ethereum blockchain.
Step 1: Learn Solidity
Ethereum uses Solidity for building ethereum smart contract. Thus, if you are aspiring to build contracts particularly on Ethereum you would have to receive training in Solidity.
Step 2: Get MetaMask
Let’s assume that you have learnt Solidity by now and you are prepared enough to get started with developing ethereum smart contract.
Well, in the 2nd step, your task is to install MetaMask for Chrome. MetaMask is an Ethereum browser as well as a wallet. After you install it, move to the top right and click on the MetaMask icon to open the new tab. Now, look for the “Create Wallet” tab. Click on the tab as well as approve the given terms. Now, you will be asked to create a password.
After the password has been created, you will be asked to create your confidential backup phrase. Please never share the code with anyone. This code will come handy if you need to restore your account for some reason.
To create an ethereum smart contract, you must operate on the Main ETH Network. So, before you go to the 3rd step, check the tick mark located close to the “Main ETH Network” box.
Step 3: Test Network
Now, you will need to choose Test Network. There are multiple test networks to choose from while developing ethereum smart contract, such as Rinkeby, Kovan, Robsten, and so on. Pick any one network from the list.
Step 4: Dummy Ethers
You will need some fake Ethers for testing Ethereum smart contract. The fake ETH would be deposited in the MetaMask wallet.
So, let’s say, you choose Rinkeby as the test network. If you have to use it, select the network. When you proceed to check balance, there will be 0 ETH. So, your next step would be to add in fake Ethers. Look for the “Deposit” tab. Click on the tab and you will be taken to a tab saying “Get Ether”. Click on that tab for adding ETH (dummy) for testing.
Move to Test Faucet and you will see a tab seeking approval for 1 ETH. Click on that tab to add 1 ETH to the wallet. If needed, you can add more Ethers as well.
Step 5: Write contract
The first thing you will need here is Remix IDE as it will help to code smart contracts right on Remix IDE.
The reason behind choosing is that Remix is almost unanimously regarded as the top-most pick for developing ethereum smart contract. The IDE is packed with essential features and also facilitates a comprehensive ambience for development. Remiix will be especially great if you are planning to build an ethereum smart contract in small sizes.
Step 6: .sol extension
This is a fast and easy step.
Just go to the Remix Browser and open it. Next, you will find a plus symbol located on the upper left part of the browser window. Click on it to create a file for .sol extension.
Step 7: Code for smart contract
By default, ERC20.sol would be the standard template when it comes to ERC20 tokens.
Your next step is to choose a compiler version from Remix for compilation of contract code.
Step 8: Install the contract
Now, you will test the contract on the test network. Go to the “Deploy” tab and click on the tab. You will find the tab at the right side of the Remix window. Don’t proceed further till the transaction has been completed.
If you have to check wallet balance, click on the MetaMask window. Now, click on the tab saying “add tokens”. Next, enter the address of ethereum smart contract. Then, click on “ok”. The user will find the total token amount in his/her wallet.
Step 9: Testing
The development of ethereum smart contract does not end with writing the code in Solidity. Before it is made live, you must make sure to test the contract. Here are the steps to be followed for testing the newly developed ethereum smart contract.
- Test every single function that your newly build smart contract ethereum, such as balanceOf, totalSupply, transfer, and so on
- Transfer a few tokens to different wallet addresses on Ethereum chain. Now, check the balance to gauge whether or not the recipient wallet has received the tokens,
Step 10: Deployment
- The task is to launch the ethereum smart contract. Go to MetaMask to reach the main ETH network. This is where the ethereum smart contract will come live
- Put in real ETH
- Then, deploy the contract with Remix
- After successful deployment, look for the address of the contract at etherscan page
- Now, you will have to verify the contract through “Verify” tab
- Copy the code of your ethereum smart contract as well as paste the code at Etherscan page
- Choose your preferred compiler version
- Go to “optimization” and click on “Yes”.
- Now, again click on “Verify”
- The contract will be launched shortly
So, here you have the whole chart of developing ethereum smart contract, followed by testing and final deployment. Remember testing is extremely crucial when it comes to smart contracts. It’s because these blockchain applications are completely immutable. As a result, any data that is being entered into these contracts could not be manipulated. While that’s a great feature for safety of the contract, it poses a big risk. In case, there is wrong data in your contract and the contract has to be modified, you won’t be able to do it if the contract is running live.
