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Smart contracts

Apr 2019

The more experience we gain with using distributed ledger technologies (DLTs), the more we encounter the rough edges around the current state of smart contracts. Committing automated, irrefutable, irreversible contracts on ledger sounds great in theory. The problems arise when you consider how to use modern software delivery techniques to developing them, as well as the differences between implementations. Immutable data is one thing, but immutable business logic is something else entirely! It's really important to think about whether to include logic in a smart contract. We've also found very different operational characteristics between different implementations. For example, even though contracts can evolve, different platforms support this evolution to a greater or lesser extent. Our advice is to think long and hard before committing business logic to a smart contract and to weigh the merits of the different platforms before you do.