You can’t talk about smart contracts without mentioning Ethereum, the first blockchain system that supports the possibility of creating smart contracts. Today, this is the largest platform by market capitalization and, perhaps, one of the most reliable and referenced solutions.
The platform provides an ecosystem for the development of autonomous decentralized applications (dApps) and on its basis, the largest DeFi protocols such as Uniswap, MakerDAO, Compound, Aave have been created. The platform is supported by a huge community that was formed during the 7 years of Ethereum's existence.
- The most widespread platform
- Contract creation flexibility allows to build the most complex smart contracts
- A large number of users provides sufficient computing power
- Based on the Turing-complete language Solidity
- High gas fees
- Works on error-prone ERC-20 standard token: a user who sends tokens to a smart contract using the transfer() command irrevocably loses his money.
Polkadot is an ecosystem for smart contracts, dApps and tokens. The main feature of the platform is a unique architecture for data exchange and transformation between different blockchain systems. It provides the opportunity to create individualized sidechains for organizing interaction with public blockchain networks and protocols.
- Can simultaneously process many current requests in several user chains, while the number of such chains can be increased as needed
- Heterogeneous sharding (the user chains connected to the main network may have a different functionality, process transactions in parallel and securely exchange data with each other)
- Easy chain update
- High speed
Web3soft is an official partner and friend of Unique Network - the first NFT chain built in Polkadot & Kusama. Our combined experience and deep knowledge allow us to build the most effective solutions on the base of these services.3. Hyperledger
- Today, there are many services that solve the problem of blockchain compatibility. Consequently, high competition in the market makes it impossible to say for sure whether it will be successful and popular in the future.
The project, created by Linux Foundation in 2015 is the basis for creating business oriented smart contracts. The platform provides users with the option of building multi-layered configurations of the blockchain network, offering new opportunities for developers.
- High reliability and bandwidth through private channels
- Go programming language
- A small community, which is associated with a focus on corporate needs
- High entry threshold.
Smart contracts presented by the Stellar project are qualitatively differ from the proposed, for example, by Ethereum. They are not Turing-complete and can be used to ensure agreements between MORE THAN TWO parties whose actions are supported by transactions.
Stellar provides a fast transaction confirmation system: all the process takes about 5 seconds (for comparison, on Ethereum it takes 3.5 minutes). In addition, the developers indicated an incredibly low transaction fee - for 100,000 transactions, the user must pay only 1 cent.
- Fast transaction confirmation speed
- The ability to create smart contracts in any language
- Very low transaction fees
- An incomplete Turing system makes auditing easier and the system more secure.
Solana is a fast–growing smart contract platform that is consistently among the top three leading platforms along with Ethereum and Polkadot.
- Faster and cheaper than Ethereum
- It expands much faster than other most competing blockchains
- Use the LLVM system and the Rust programming language (that makes it one of the best decentralized networks for creating NFT solutions, DeFi projects and smart contracts)
- High level of environmental friendliness
- Low resource consumption and high sustainability
Choosing a platform for smart contracts you should take into account individual tasks, needs and budget of the project. Only a thorough analysis of the market and an assessment of the long-term objectives of every customer will create a unique effective solution. Also, we always take into consideration the technical maturity of the platform, development tools and the availability of well-documented literature. For today, smart contracts are still a new direction that requires high-quality study and growth.
- There’s no verification of ownership
- No signature verification
- Inability to check external programs
- Integer overflow - the variables can only contain a specific range of values.
- There’s no verification of the account structure.