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Smart Contract Development

The self-executing coded contracts written by smart contract developers, automate business processes and bring trust in a transaction

Increase Business Efficiency

By their inherent design, smart contracts enforce contracts and agreements automatically and impartially.

Eliminate The Middlemen

Smart contracts eliminate the need for expensive middlemen like lawyers to construct, execute and enforce contracts,

Increase Compliance

Smart contracts execute on the agreed contract, increasing compliance and resilience between the involved parties.

What Are Smart Contracts?

Smart contracts are digital protocols created for validating conditions of a legal contract between two or more parties. Smart Contract Development can be done for different platforms like Hyperledger Fabric, Ethereum, NEO and other networks.

A smart contract is an agreement between two people in the form of computer code. They run on the blockchain, so they are stored on a public database and cannot be changed.
The transactions that happen in a smart contract are processed by the blockchain, which means they can be sent automatically without a third party. This means there is no one to rely on!
The transactions only happen when the conditions in the agreement are met — there is no third party, so there are no issues with trust.

Smart Contract Use Cases

Insurance Premiums

  • A pre-defined contract agreed between counter-parties, is coded into the smart contract and cannot be changed without all parties knowing
  • An event such as a fire, crash or theft will automatically trigger the insurance policy execution based on the pre-agreed terms
  • The settlement is completed instantly and efficiently

Copyrighted Content

  • A content rights owner publishes ownership information onto the blockchain
  • Usage policies for registered works are written into smart contracts that automatically transfer usage rights
  • Royalties, fees, etc. are delivered instantly with full transparency based on the conditions specified in the blockchain database

University/Accreditation Degrees

  • A person completes a university degree in computer science
  • When the person has passed his/her final exams, this accreditation is written into a smart contract
  • A potential employer, Blockchain Reactor is seeking verification on an applicant’s degree course and results, and can do this easily without having to obtain official transcripts

Our Smart Contract Development Approach

This process represents a general plan and particular detail will strongly depend on the feature list and project specification. All development activities will be implemented on the test network. Once the audit process is completed, the smart contract(s) will be deployed on the main network ledger.

 
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WEEK 1

 

Development Plan Preparation

Gathering the project's requirements and technical design documents
  • Feature set breakdown
  • Architecture proposal
  • Assessment of requirements
  • Mapping of dependencies and risks
  • Definition of technology stack to be used with clear justification
  • Meeting between all of the developers on the project to fully understand the features and potential future features
  • Preparation of the project infrastructure (repositories, wiki, etc.)
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WEEK 2

 

Development Plan Review

Address all issues that are not yet clearly defined with the client
  • Address all issues that are not yet clearly defined with the client
  • Provide a comprehensive statement of work to the client
  • Development work packages clearly defined with timelines
  • Transitional client reviews might be agreed to be held at the conclusion of one or more work packages
  • The development plan is usually shared with the client to identify the deliverables of both Blockchain Reactor and the client
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WEEKS 3 - 12

 

Development Phase

The main development work packages are carried out during this phase
  • As described in the statement of work, the main development work packages are carried out during this phase
  • This phase is intended to cover all functional and architectural requests, technology implementation and coding
  • Demo platform to be launched and all requested features confirmed
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WEEKS 13 - 17

 

Test Implementation

Extensive testing and QA activities to be completed during this phase
  • Implement tests for all known attacks and threats capable of inflicting damage to the system
  • Once the platform is operational, confirm that risks are appropriately mitigated
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WEEKS 18 - 21

 

Audit Process + Bug Fix

The final version of the code and platform to be delivered and ready for public launch
  • Technical audit to be completed and reported together with financial audit (if required)
  • All potential bugs or irregularities found during test implementation to be corrected and properly reviewed
  • The final version of the code and platform to be delivered and ready for public launch

Are you ready to have your smart contract(s) developed?

Contact us for a free discovery call. Here is what will happen next:

Contact Us

We will introduce ourselves on a video conference

Meet our senior team

Our senior team will discuss your requirements and strategy

Get your budget

Based on your requirements, we provide budget, activity and timeline estimates

Project kick-off

We bring together a team from a range of disciplines to kick-off your project

Why Blockchain Reactor?

Experience, paired with a commitment to deliver an exceptional product to each and every project is what makes clients keep coming back to us.

Our Team

Our team is a culmination of the brightest minds in the blockchain industry, all available to work on your project. We have an expert for every domain – no more passing the baton between different firms for different services. We have smart contract developers and architects who actually built the Ethereum and Hyperledger frameworks.

Our Experience

In sixteen years, we've worked with over one-hundred tech start-ups, as well as dozens of multi-national organizations. We have the know-how and experience to provide a solution to any problem your blockchain company has. We pride ourselves on our ability to execute and deliver excellence on our timeline promises. 

Our Approach

We have a no-bullshit approach. To put it simply, our developers will move to other companies if we are not working on suitable and relevant use cases for smart contracts. We actively measure and monitor our efficiency levels to ensure our team is operating at maximum capacity to deliver projects on-time, every time.

Smart Contract Development FAQs

Is my business suitable for a smart contract?

This is something that needs to be taken on a case-by-case basis. We have checklists to make this determination.

What is the typical timeframe for a smart contract implementation?

Implementing a simple smart contract can take up to 10 weeks. It is important to understand that the actual smart contract development only takes up 10 – 20% of the total project. The majority of a smart contract implementation involves front-end and back-end development, UI and UX design, graphic design, and other services. For MVPs, from start to finish, we generally complete smart contract development projects in 18 weeks.

What other expertize do we require apart from smart contract developers?

Smart contract development only consumes 10 – 20% of the overall smart contract implementation. The remaining 80 – 90% is consumed by:

  • Systems Architect – ensuring the technology is designed and developed in a secure, robust and scalable manner.
  • Graphic Designer – designing logos, graphics, buttons and to design screens in collaboration with the UI/UX team.
  • UI/UX – ensuring the user journey is designed with the end user in mind.
  • Front-End – developing a client-facing interface or storefront.
  • Back-End – developing a backend that is designed to filter entries to the blockchain database.
  • Mobile – developing a native iOS and/or Android mobile application, if required

Do you do proof-of-concept?

Yes. A lot of our clients are opting for proof-of-concepts (POCs) to test their concept. We believe this is a prudent cost-saving approach which allows clients to test the capabilities of their smart contracts.

What is the cost of implementing a smart contract for my business?

The implementation cost of a smart contract varies from project to project. At Blockchain Reactor, we specialize in providing cutting-edge blockchain solutions. As a result, we will need to assess your project’s scope to provide you with a ballpark cost estimate.

Ready to implement blockchain technology in your business?

We provide blockchain development, ICO consultancy, smart contract development, smart contract auditing, and blockchain accelerator workshops to start-ups and enterprises looking to leverage the power of blockchain technology in their businesses.