Design development and execution of Smart Contract : An Overview

Abstract

With the advent of decentralised cryptocurrencies such as Bitcoin and Ethereum, blockchain technology has sparked intense interest among businesses and developers. One notable application of blockchain is the development of smart contracts, which are code scripts that function on a blockchain network and are automatically executed whenever the prescribed requisites are met without the assistance of a reliable third party. As a result, smart contracts have been gaining momentum rapidly with various applications in fields including pharmaceuticals, trade finance, supply chain management, etc. This paper overviews the fundamental framework supporting blockchain platforms and programming languages. This helped create smart contracts with a detailed study on creating a smart test contract running on the Ethereum blockchain, written in Solidity programming language and executed in the Remix IDE.