One Click Smart Contract based on Libonomy Blockchain
Tags: Smart Contracts, Blockchain, One Click, Blockchain Technology, Blockchain Startup

Libonomy’s project is to reinvent the way digital platforms are used today!

-Fredrik Johansson

As the world is rapidly moving towards further digitalization, we at Libonomy want to make sure that technology can sustain all the needs of society and the transition is as seamless as possible.

Libonomy blockchain

Libonomy is a next-generation interoperable, autonomous blockchain powered by an Artificial Intelligence-based consensus engine. The AI engine allows a secure, decentralized, automated, and scalable platform that has been able to overcome all the weaknesses of earlier blockchain technologies.

One Click Smart Contracts

Libonomy enables blockchain community to build smart contracts without any prior knowledge of blockchain technology.

Open source, free cross-chain smart contracts that don’t require developers, have enhanced security and are executed within minutes.

What is Smart Contract?

Smart contract is a self-executing code written to operate on a blockchain in order to carry out transactions or functionalities as specified in the code. Smart contracts eliminate middleman which in return makes the system more efficient, transparent and secure.

Initially blockchains such as Bitcoin was only perceived for the purpose of carrying out transactions, but with the introduction of second generation blockchain Ethereum and the ability to create smart contracts, users were able to utilize blockchain also for the purpose of creating decentralized applications as well.

However, smart contracts are difficult to build so they involve experienced, but costly developers. Also, because smart contracts are unmodifiable after their deployment, we arrive at a trust issue.

Libonomy’s solution

In order to ease the development of smart contracts and make them more secure, transparent and interoperable, our platform gives users the ability to fill in their requirements and their smart contract code is generated within the matter of minutes. Whether the person is a developer or not — no one is restricted, the generated code can be used in any manner on the Libonomy blockchain.

Users can either deploy smart contract on Libonomy blockchain manually or by using the platform’s deployment automation tool.

Libonomy’s smart contract auditing tool can highlight and resolve any flaws or vulnerabilities before the deployment, and, as everything is done by the platform itself, users no longer have worry about security risks.

After the deployment, to carry out the functions of the smart contract, the platform includes a simple UI for interaction with the deployed smart contract where users have the ability to perform any operation without the need of a developer.

The platform gives users the ability to build smart contracts for stable coins, utility tokens, security tokens or real estate directly through the user interface.

In case there is a need to customize some functionalities, users have an ability to do that themselves or request a support from our platform.

Any smart contracts built on Libonomy blockchain is also compatible with Ethereum and other blockchains, which makes Libonomy’s solution completely one of a kind.

Summary

Blockchain in an emerging technology with many advancements in the latest years, however due to the lack of experience and knowledge, majority of the people are still very unaware of the benefits that this technology can offer.

In order to fill in the gaps and move towards mass adoption, Libonomy believes the future lies in providing users platforms that highlight specific benefits and are more user friendly.

Libonomy’s One Click Smart Contract POC solution launched in November will enable the community to benefits from the services that Libonomy is offering.