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A Guide to Ensuring Smart Contract Security

One of the largest cryptocurrency thefts took place in August 2021. Digital currency valued at $613 million was stolen by hackers from Poly Network. They took advantage of a flaw in Poly Network’s digital contract. They further compromised the security of the company’s smart contracts by taking advantage of this security flaw. This resulted in the disclosure of their client data and ultimately revenue loss. This article will cover how to ensure the security of smart contracts during smart contract development under smart contract development services, its correct application, and the most frequently encountered flaws in a smart contracts platform to avoid such circumstances.

Common Smart Contract Security Vulnerabilities

Here are some of the most significant issues and smart contract security flaws that have been identified.

Improper Development of ERC20 Tokens

Timestamp Continuity

A Quick Attack on the Address

Best practices to Ensure Smart Contract Security

Since smart contracts are just very specific programs, the main goal of developers is to ensure the accuracy and security of their code. Here are some recommended practices for ensuring smart contract security.

Use Smart Contract Security Tools

Here are a few security solutions that can lower the likelihood of security flaws in smart contracts.

SmartInspect:

Using decompilation methods for remotely deployed contracts, SmartInspect examines the deployed smart contract. It accomplishes that without the need for an API to gather raw data.

GasTap:

The GasTap tool is in charge of figuring out the upper bond required for the quantity of gas for smart contracts to avoid gas vulnerability. It makes use of the resources in a pipeline that accepts smart contracts and establishes the maximum amount of gas necessary for its operations.

SmartCheck:

It converts Solidity source code to XML format via static analysis. Xpath queries detect problematic patterns as well. It also identifies and constrains security, functional, operational, and development stage issues with Solidity code.

Gasper:

The sender of transactions or smart contracts must pay execution fees in the form of gas for each transaction. Gas is the cost to compensate miners for code execution, to be more specific. Gasper can identify overcharged typical patterns including dead code, opaque predicates, and expensive loop operations.

Solgraph

It is a security visualization tool that creates DOT graphs to keep solidity contracts under guarded control. Its key function is to identify and draw attention to potential security flaws.

Blockchain Graph Debugger

It is an EVM debugging tool used to graphically describe or display the complete program control flow.

sConclusion

Even though blockchain and smart contracts are extremely safe and immutable, incidents like the one at Poly Network can be sobering and cause us to pause. By being cautious, we may minimize the hazards posed by this technology and maximize our gains. Make sure the aforementioned weaknesses do not compromise your smart contract security. To know more about smart contract development and ensure its security, connect with Blockchain smart contract development.

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Distinctive Features for Solana Wallet Development

Solana is a public blockchain platform that offers high-speed transactions, scalability, and low gas fees. These features are increasing the popularity of the Solana platform leading to the rise of Solana blockchain development services . One such crucial development service is Solana wallet development which enables Solana users to monitor their cryptocurrency assets. Solana wallets are essential for enabling transactions on the Solana blockchain. Thus, Solana wallet development is beneficial for businesses using the Solana platform and their customers. However, a unique Solana wallet requires some features that make it stand apart from the crowd. This article gives you an insight into such unique features.

What is a Crypto Wallet

Before jumping into the main topic, it is best to understand a crypto wallet.

A crypto wallet is a software or hardware that enables users to transfer digital transactions or cryptocurrencies among users. Additionally, it stores several keys for sending, receiving, and tracking ownership of cryptocurrencies. It gives wallet holders access to their transaction history and balance.

Solana Wallet Development

In the Solana ecosystem, businesses do not have to deal with fragmented Layer 2 solutions or shared chains. Its high scalability and high speed make it a low-cost network. The platform is suitable for decentralized applications that require high speed. Businesses need Solana wallets to enable SOL transactions in such apps. So, here comes the role of Solana wallet development.

Unique Features of a Solana Wallet

The following unique features can highlight a Solana wallet:

Highly Secure

Staking

Self-custodial Solana Wallet

Cross-chain Compatibility

Web Support (Extension)

Mobile Support (Android and iOS)

Swapping

Borrowing and Lending

dApp Support

Non-fungible Token (NFT) Support

Looking for Solana Wallet Development Service

Oodles Blockchain provides Solana blockchain development services. Our Solana developers have expertise in developing robust wallets for Solana blockchain projects. Contact us today to avail our services.

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Analyzing Solidity and Vyper for Smart Contracts Programming

Which smart contract programming, Solidity vs. Vyper, is superior? The answer will be revealed in this post. After the Ethereum network introduced smart contracts in 2014, it was only a matter of time before a language other than Solidity for smart contract development services was developed. Vyper is one such language that aims to increase the readability and comprehension of the source code for smart contracts. We’ll look at the advantages and disadvantages of the programming languages Solidity and Vyper separately.

Understanding Solidity

Solidity is a high-level, Turing-complete programming language that supports smart contract development for several use cases, including decentralized finance (DeFi), NFTs, and wallets, on the Ethereum Virtual Machine.

Influenced by JavaScript and C++, Solidity uses the same multiple inheritance techniques as Python. Solidity is supported by several blockchain systems, including Polkadot and Avalanche while being most closely related to Ethereum.

Ethereum CTO Gavin Wood presented Solidity as a solution to the requirement for a flexible smart contract-based developer environment. The vibrant decentralized ecosystem of applications currently operating on Ethereum was made possible by Solidity. It gave programmers the ability to write smart contracts for a variety of use cases.

Advantages of using Solidity

Educational resources and online courses are widely available.

Remix, an online editor for building smart contracts, is one of the many developer tools available.

Development suites like Hardhat and Truffle for building, testing, and deploying smart contracts are available.

Aave and UniSwap, two important providers of blockchain technology, have used Solidity.

It supports strings and dynamic size arrays.

Recently, exception handling was added to the repository for Solidity.

Disadvantages of using Solidity

There is a chance of overflow circumstances or the storage of overly large numbers.

Numerous contracts that were created using this technology turned out to have significant flaws that were not found during testing and development.

Understanding Vyper

Vyper, which is a high-level programming language similar to Solidity, was developed specially to increase the security of smart contracts used on blockchains that are EVM-compatible.

Pythonic syntax is used in Vyper programming, hence the serpentine name, to emphasize readability so that developers may quickly identify bugs and weaknesses in their code before sharing contracts.

The security of Vyper’s smart contracts is greatly enhanced by the use of strong typing and computational decidability. Because Vyper variables must all have specified types, developers may estimate the maximum gas usage before deploying a contract thanks to the decidability of contracts.

Advantages of using Vyper

It is easier to start coding for Python coders.

It attempts to be transparent for readability and security.

Development tools like Etherscan and Brownie have become more popular recently.

It is used by DeFi protocols like Curve to generate their contracts.

It is less susceptible to assaults because of the restrictions on arrays and strings.

A precise upper bound may be calculated for the gas consumption of any function call.

Disadvantages of using Vyper

Community support is lacking.

Modifiers, recursive calls, class inheritance, and dynamic data types are not included in the functionality.

Many Solidity features are still in development and are not yet accessible in Vyper.

What Compromises do Vyper and Solidity make?

A Community of Developers

Solidity is a web3 programming language that is far more popular than Vyper only based on numbers. We can estimate the number of developers using each language by quickly searching GitHub for all files written in Vyper (.vy) and all files written in Solidity (.sol). In comparison to the 8.3 million Solidity files on GitHub, there were about 10,300 files created in Vyper at the time this article was produced.

Flexibility

Security

Auditability

Which language to choose between Solidity and Vyper?

The decision to choose a single language is not either/or because Vyper and Solidity are compatible. However, Vyper should be used for applications that require strong security guarantees while Solidity should be used for more basic smart contracts that require flexibility.

Because each language has a variety of applications, neither is expressly superior to the other. Vyper is best for applications requiring the highest level of security because of its rigidity and lack of a robust developer community, and novice web3 developers should begin by studying Solidity.

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NFT Launchpad Development | A New Means of Crowdfunding

The term NFTs no longer needs any introduction. Along with their popularity, their trading volume has increased dramatically. More than ever, entrepreneurs globally want to test the waters because of NFTs’ popularity and profitability. Thousands of NFT-related initiatives developed using NFT development service go live every day. But the real query is whether they all achieve success in this extremely competitive market. NFTs are still in their infancy, and not all digital entrepreneurs are well-informed about this sector. Yet, they all wish to try their luck with NFT development. Due to the dearth of in-depth knowledge, an NFT launchpad emerges as a savior for them. It acts as an efficient means for cryptopreneurs to enter the NFT market and for investors to place bids on appropriate projects.

What is an NFT Launchpad

A crowdfunding platform called NFT launchpad introduces top-notch NFT initiatives to the NFT market. By exhibiting the initiatives to a specific audience, startups, investors, and entrepreneurs gain from the ecosystem it fosters. An NFT launchpad is comparable to other platforms for token sales that enable startups to mint NFTs and initiate token sales. Entrepreneurs and investors have developed an excitement for such platforms due to their user-friendly features and earning potential.

Investors can connect with potential and promising NFT enterprises through the NFT launchpads and purchase tokens for a low cost. The primary benefit of NFT launchpads is that early investors see potentially high returns on their investments. As a result, entrepreneurs and NFT investors see this as an opportunity to fund fresh NFT initiatives that aim to engage a worldwide audience.

How does an NFT Launchpad Function

NFT launchpads are comparable to ICO, STO, IEO, IDO, IGO, and other token sale platforms. They give startups all the resources they need to launch an NFT project, also known as INO (initial NFT offering), and start a token sale. They also confirm the legitimacy and potential of each initiative. Additionally, these platforms give investors a simple way to locate worthwhile NFT projects and purchase new tokens at a lower cost.

It works in the following way:

An NFT creator applies to list their project on an NFT launchpad. The creator provides data, contact details, and a project description with some images.

The platform examines the project details. The verification process includes the project development strategy, the potential for global implementation, the team, the advantages of the cryptocurrency system, etc.

If the platform finds the project authentic, it lists and opens it to investors. The project team can also use the NFT Launchpad marketing tools.

Investors stake cryptocurrencies in a smart contract and receive a lottery ticket if they approve of the project. The creators specify the amount that must be staked. Either a fair lottery will be held, or a lottery where the odds improve with increasing bids will be held.

The lottery begins following the conclusion of the initial NFT offering. The winners are given the NFTs after their issuance.

Initiators of token sales receive their funds and may make withdrawals.

Advantages of NFT Launchpads

Access to a Vast Network of Potential Investors and Initiatives

Safeguards both Users and NFT Creators

Transparent NFT Distribution during INO

Long-term Success Potential

For the Top Cryptocurrency Startups, Rapid Growth

Well-known NFT Launchpad Use Cases

Creator Launchpad

Artist Launchpad

Launchpad for Games

Launchpad for Content Creators

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Top 5 Compelling Solana Blockchain Use Cases

In the past year, Solana has seen massive development that led to its entry into the mainstream. The market has seen a significant jump in Solana prices. Moreover, the growing demand for decentralized finance (DeFi) and the non-fungible tokens (NFT) hype has also contributed to its rise. Solana offers high-speed and low-cost transactions, thus, so many businesses prefer this platform for custom blockchain solutions. Some of the Solana use cases include DeFi and NFT development. If you want similar blockchain solutions on Solana, then let’s take a look at what this platform has to offer.

What is Solana

Anatoly Yakavenko developed the Solana blockchain platform to address the scalability and efficiency issues of other blockchains. It is an open-source blockchain platform that supports the development of highly-efficient smart contracts. SOL is the native token of Solana. Users can use it to pay transaction fees as well as for staking. Developers also prefer Solana smart contract development due to these attributes.

Why Solana for Blockchain App Development

Solana offers multiple features that make it a popular platform for blockchain app development. It uses a combination of Proof-of-Stake (PoS) and Proof-of-History (PoH) consensus mechanisms to authenticate information. This unique combination increases the efficiency of the platform. Solana also charges a fraction of a cent as transaction fees. Unlike other blockchain platforms, Solana does not require additional scaling solutions due to its high-speed and low transaction costs. These features make this platform an ideal choice for developing emerging blockchain-based use cases.

Solana Use Cases

The use cases of a blockchain let developers explore different aspects of the crypto ecosystem. Solana blockchain offers several use cases to developers and business owners. We have curated the following list of various use cases of Solana, so let us dive in:

Non-Fungible Token (NFT) Marketplace Development

Decentralized Applications (dApps) Development

Decentralized Finance (DeFi)

Web 3.0

Games

Conclusion

If you are searching for a Solana blockchain development company for developing a blockchain project, then Oodles Blockchain is the right place. Our Solana developers have thorough expertise in the development of smart contracts, dApps, NFT marketplaces, wallets, and more on Solana. Contact us today to avail the services.

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Why Your Business Should be Ready to Embrace Web3

A new software ecosystem called Web3 has the potential to transform both conventional and contemporary business structures. Web3 is not just one type of technology. More than one technology is converging here. This approach can both deepen customer relationships with brands that are keen to collaborate with users in this market and empower consumers themselves. Web3, generally powered by blockchain development services, dramatically alters how we conduct business and establish personal connections with one another. In fact, over the coming several years, Web3 is predicted to radically change the way we view our online presence.

Building Blocks of Web3

The incorporation of blockchain technology will not be sufficient to meet the demands of Web3 Blockchain since other technologies will need to collaborate and advance. The main components of Web 3.0 will be modern new technologies that will make the web decentralized and semantic.

The digital web’s user interface will integrate with the actual, physical environment through the usage of augmented and virtual reality, as well as high-fidelity 3D images. It will improve our capability to integrate physical objects into the digital space and digital assets into the physical space. As a result, it will bridg the digital-physical divide.

The Web will be widespread through internet-connected computer interfaces on real-world things, owing to IoT devices operating on ever-improving networks like 5G. Everything will be online-connected, including watches, vehicles, drones, ovens, and refrigerators.

To deliver user-centric interactions, computers will analyze and learn on the fly using artificial intelligence technology. By analyzing structured and unstructured data sets, capabilities like chatbots acting on the front end and machine learning algorithms operating on the back end will make the user experience relevant and semantic.

Why Does Web3 Matter to Your Business?

Web3’s impact on the business will be to make them more transparent and user-centric. Everything that was wrong with how firms handled customer data in the past will undergo a fundamental makeover.

How will companies leverage Web3 technology, then?

Businesses, both old and new, will pave the way for blockchain technology and the benefits it provides. Your apps will be blockchain-enhanced, making everything transparent and accessible to anyone.

Effortless Business Procedures

No Requirement for a Third Party

Effective Teamwork Between Suppliers, Customers, and Employees

Greater Transparency in Operations Related to Sales

Lower Risk of Cyberattacks or Hacking

Conclusion

Web3 is a game-changer for companies and business people. Web3 will enable businesses to better manage their data, understand their customers, and improve their products and services. Web 3 will make it easier for entrepreneurs to get funding, customers, and market research. By implementing the correct plan, businesses and entrepreneurs may benefit from this new technology and stay ahead of the competition. Web3 offers business owners and entrepreneurs the chance to advance their ventures. All they require is the proper strategy. For information on how to get started with Web3 and revolutionize your business model, get in touch with our blockchain developers.

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A Comprehensive List of Top dApp Development Platforms

A decentralized application (dApp) differs from a normal application in terms of backend technology. A dApp uses blockchain technology that makes it decentralized. Its popularity is resulting in the rise of blockchain application development. Nowadays, you may find various dApp development platforms, but how to choose one that perfectly fulfills your requirements? This blog gives you a thorough understanding of dApps, the top dApps platforms, and their features.

What are Decentralized Applications (dApps)

Decentralized applications (dApps) are open-source software applications that run on a blockchain. These applications operate autonomously through smart contracts, which store the logic or program code. So, these smart contracts are backend code of dApps that runs on a decentralized network such as Ethereum, Solana, etc.

Types of dApps

There are the following two types of dApps:

Native dApps

Developers create native dApps, particularly for android or iOS platforms. They are similar to traditional mobile apps. Users can utilize these dApps after downloading them from official app stores.

Web3 dApps

Web3 dApps are software applications for web browsers. Users do not need to download these dApps since they are accessible directly via a web browser. They can use a device that supports a web browser to open web3 dApps.

Importance of dApps

dApps run on several servers, so there is no standard IP address. It can help businesses to operate in almost any region without any restrictions. Additionally, dApps run on peer-2-peer networks wherein multiple nodes stores all the information. So the whole system will seamlessly operate even if a computer node crashes.

In short, dApps have the following importance in the business world:

Simplified and borderless operations

Decentralized cloud storage

Decentralized finance (Defi)

Higher trust in a project

Better data safety

Less downtime

Now, let us dive into the best dApp development platforms.

Top Platforms for dApp Development

There are several platforms available for developing dApps. To make the best decision, developers need to carefully consider each blockchain platform’s unique characteristics. While selecting a dApp development platform, they must take different considerations, such as programming language, scalability, performance, etc.

We have curated a list of top platforms along with their features. You can check out the list to understand which platform works best for dApp development.

Ethereum

TRON

Polygon

Solana

Looking for dApp Development Services

If you are searching for dApp development services, then Oodles will be your ideal solution partner. We offer end-to-end dApp development, including frontend, backend, and more. Our dApp developers have extensive knowledge and experience in all the above dApp development platforms. Avail our services today!

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Most Disruptive Web3 Use Cases and Applications

The decentralization of business models is the primary characteristic of Web3. In that sense, it ushers in a third stage of the internet (thus the name “Web3”) and a change in users’ perceptions of the status quo. Web3, the next edition powered by blockchain development services, potentially upends that power structure with a shift back to users. Open standards and protocols could make their return. The idea is that power will be widely distributed through “permissionless” decentralized blockchains and smart contracts, rather than remaining centralized in big platforms and aggregators. Web3 is currently gaining traction in a wide range of different industries, such as the social sector, carbon markets, art, real estate, gaming, and more. Below, we will look into each of these web3 use cases in greater depth. But first, let’s define web3 for those who are unfamiliar before we go into the topic.

What is Web3

Web3 or Web 3.0 is the third phase of the internet’s development, to put it simply. It enables decentralized networks for enabling faster user experiences with higher customization. The development of web3 is supported by several noteworthy technologies, including machine learning, semantic web, and artificial intelligence. Additionally, the blockchain web3 use cases demonstrate how web3 and cryptographic security work together to facilitate user information security. You can find the following unique traits on web3.

Web3 is open, as it includes open-source software with the benefit of easy accessibility.

Web3 networks are permissionless and users and providers don’t need permission from centralized controlling organizations.

Another formidable trait evident in real-world web3 use cases is the freedom for users to interact privately and in public without any intermediaries in a trustless environment.

Most important of all, web3 also offers ubiquity which can ensure the availability of the internet irrespective of location, time, and device. For example, IoT technology can help in accessing internet services through many intelligent gadgets other than voice assistants.

Emerging Web3 Use Cases Metaverse

The idea of the metaverse and virtual reality (VR) immersion is sometimes confused, a result of movie influences like Ready Player One. According to this understanding of the phrase, the metaverse refers to a virtual imitation of the real world that is layered over the actual environment and entered through VR goggles as one of the most prevalent examples.

Blockchain-powered Gaming Solutions

Web3 gaming on the blockchain, popularly known as GameFi, has gained popularity all around the world. According to experts, 800,000 users linked to Web 3.0 games regularly in the first half of 2022.

Web3 gaming solutions are by default decentralized in contrast to traditional games, which typically entail centralized authorities. This implies that users can easily trade NFTs with other players and establish complete control over all of their in-game assets without the need for any middlemen.

Decentralized Streaming

Streaming of video and music has grown to be a significant and quickly expanding market.

However, centralized streaming sites still exist. This suggests that they provide several challenges and could spark debate over monetization practices, unethical promotion algorithms, data gathering and privacy issues, and other issues.

On the other side, decentralized blockchain-enabled streaming services give users and producers privacy-focused options. Additionally, they help content curators get direct access to their money and broadcast their material on the network on their terms.

DAOs

Decentralized Autonomous Organizations, or DAOs, are one of the top entries among blockchain web3 use cases. They are essentially online communities that belong to the community. The ability for community governance, which is dependent on member consensus, is an intriguing feature of DAOs. In reality, DAOs with decentralization and autonomy show off the best features of web 3.

A single person or centralized authority/organization cannot alter the rules of DAOs. Additionally, DAOs guarantee autonomy by employing smart contracts to count votes and carry out decisions devoid of human involvement. DAOs are a well-known web3 example of on-chain governance if you pay close attention. By encoding specific regulations in smart contracts, Decentralized Autonomous Organizations bring the idea of corporate governance to the virtual world.

Due to their potential to provide a governance model for web3 organizations, DAOs should be among the top web3 use cases. It’s interesting to note that DAO concepts apply to a diverse spectrum of assets and organizations.

Conclusion

Though Web3 is a futuristic idea, it is still in its infancy and needs time to evolve. To update their corporate infrastructure and migrate to the web3 infrastructure, many sectors have begun adopting web3 use cases. The two key web3 use cases that are assisting businesses in realizing their full potential are DAOs and the metaverse. New web3 use cases to address current business inefficiencies will emerge on the horizon with time and accelerating technological advancement.

To hire web3 development or to transfer your current project to the web3 environment, please get in touch with skilled blockend developers.

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The Importance of Smart Contracts in the Metaverse

The decentralized Metaverse is just one of the many innovative new initiatives that have recently emerged as a result of inventions in the blockchain and smart contract development space. Blockchain enables the decentralization of Metaverse projects, which has additional advantages such as better governance, DAO (Decentralized Autonomous Organization) integration, and interoperability components.

Businesses can select a blockchain protocol from a wide range of possibilities based on the needs of their projects, but the demand for platforms that support smart contracts is fairly high. The smart contract and its supporting technologies enhance numerous Metaverse features and establish a new paradigm in which decentralized Metaverse apps can function.

Let’s explore the Metaverse smart contract in more detail.

What is a Smart Contract

Smart contracts are computer programs that facilitate the exchange of assets or the verification of data. It sounds more complex than it is, like most technical jargon. A smart contract is a piece of software that holds off on carrying out a task until several criteria are satisfied.

Smart contracts are sometimes compared to a vending machine in analogies. You type the code for a display item. The item will be given out if the vending machine has previously been paid for it. The cost of the item is displayed if there is not enough money in the vending machine. On the blockchain and hence the Metaverse, smart contracts carry out several related tasks. Various smart contracts govern transactions in various areas of the Metaverse.

The Importance of Smart Contracts in the Metaverse

All of the action in blockchain systems is driven by smart contracts. Each decentralized application requires coding to implement blockchain features.

Because of the advantages that blockchains provide, smart contracts for Metaverses perform very well due to the decentralized nature of blockchain applications.

Blockchains aid in the security of Metaverse operations.

They are appropriate for trading and all forms of online commerce. In certain virtual regions of the Metaverse, NFTs are collectibles.

Blockchains facilitate the connection of Metaverse participants without the necessity for localization. Centralized systems have challenges with things like capacity issues and internet access.

Blockchain Platforms Driven by Smart Contracts for the Metaverse Development

Blockchains with Smart-Contract capabilities have also ushered in new metaverse technology paradigms.

Decentralized apps are now available in blockchain ecosystems and the Metaverse thanks to smart contracts.

Connect with our blockchain and smart contract development specialists and go over your project requirements if you’re seeking secure and effective smart contract development for your Metaverse project.

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Deciphering DAOs | Benefits, Elements, and a Pre-Built Solution

The introduction of DAOs (decentralized autonomous organizations) is one of the most crucial applications that blockchain powers. DAOs remove the need for centralized coordination and manual intermediation while creating decentralized processes in business. In addition to ensuring fair and inclusive decision-making, they facilitate high levels of transparency, automation, and cost savings. Continue reading this quick guide to get detailed insights into decentralized autonomous organizations, including their advantages for building on an organization or business, their basic building blocks, and more. Also, discover more about a pre-built DAO solution of Scaffold Smart Contracts by Oodles, a hub of pre-code basic architectures of NFT and smart contract applications, such as DAO, that significantly reduces time to market.

What is a DAO? A Brief Explanation

A decentralized autonomous organization is a blockchain-powered solution that enables a business to function without any centralized authority or intermediaries. It distributes control among all stakeholders. They can use governance tokens associated with a DAO to vote on various rules or changes across processes. Their voting power is generally equivalent to the tokens they possess.

It is the self-executing smart contracts on blockchain where all the rules of an organization exist. They are commonly known as the backbone of a DAO. Once smart contract developers make a smart contract go live on Ethereum, those rules are impossible to change.

DAOs are decentralized. Therefore, all their activities and transactions remain to secure a blockchain, and any DAO participant can view them.

DAOs represent the novel concept of digital democracy. It enables all stakeholders to engage with an organization’s activities and take part in making vital decisions. They operate without any form of central authority, which imposes its views, turning a blind eye to the opinions of other members.

DAOs are indeed groundbreaking and can shape the way organizations operate. So far, business areas such as grant funding, pool investment, collecting, charitable funds, worker collectives, freelance networks, etc., have successfully embraced this model of business.

In general, DAOs create unique funding opportunities and promote democracy. Thus, it’s safe to say that more and more industries might shift to a decentralized way of managing their businesses.

DAO Benefits for an Individual and an Organization

Open Source

Trustless

No Shutdown

Chief Components Of Decentralized Autonomous Network

Open Source Code

DAO Token

Smart Contract

How Does a DAO Work?

A core team of community members establishes the DAO rules through the use of smart contracts.

Smart contracts work as a foundational framework on which the DAO will eventually operate and are thus visible, verifiable, and auditable by all members.

The DAO platform issues tokens to decide on different ways to receive funding and bestow governance.

This protocol allows the DAO to sell tokens for raising money and filling the treasury.

Token holders are issued voting rights in return for their fiat and this is proportional to their holdings.

The DAO is ready to be deployed once the funding completes. The code is pushed to production and cannot be modified without a consensus concluded via member voting.

Pre-Built DAO Solution Development by Oodles

Keeping in mind the emergence of DAO, the team of blockchain developers at Oodles has developed a DAO solution/governance token. Precisely, they have prepared a basic architecture of DAO governance token. With this development model, there’s no need to develop a DAO from scratch. Blockchain enthusiasts planning to launch a DAO can significantly reduce their time to market with pre-built DAO solutions. Essentially, the DAO module built by Oodles facilitates the launch within a few weeks instead of months. Additionally, it is not similar to a white-label DAO solution, which permits less customization functionality. With the Scaffold DAO solution, you can make customization as per business and user requirements.

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Are Pre-Built NFT Solutions the Best Way to Enter the Market

It was in 2021, the NFT scene started exploding and gathering significant media attention. Non-fungible tokens (NFTs) saw an unprecedented growth of approximately 26x volume in Q1 2021 from Q1 2020. Since then, NFTs have always been in the news. Indeed, from celebrities to individuals, everyone seems interested in them nowadays. To capitalize on the trend and applications of NFTs, like minting, trading, and staking, NFT marketplaces came into existence, like Opensea and Sorare. Apparently, they have dominated the majority of the market. Now, these platforms are beset by many issues, from hacking to insider trading. The NFT space is growing ballistically, and business enthusiasts realize that they need to enter the market with NFT solutions like NFT marketplace, NFT minting, and more to prevent the formation of the monopoly of these big names. For that, an NFT development company presents them with various solutions to enter the market.

They include building NFT solutions from scratch, white-label development, and pre-built NFT solutions, to name a few. But, with so many available options, decision-makers come across the challenge of choosing the right one and entering the market effectively. In this blog, we address their challenge of finding the best method by scrutinizing their advantages and disadvantages.

Development Methods for NFT Solutions

As mentioned above, for business enthusiasts, various options are available to enter and capture the market. However, each one of these comes up with its distinct advantages and disadvantages. Now, let us look at various methods available for launching an NFT solution.

Building from Scratch

Clone Development:

1.Limited customizability

2.Risk-prone

3.Opaque user rights and privacy

4.Similar to already established solutions

5.Complex future updates

White-Label Solution

Pre-Built NFT Solutions

What are Pre-Built NFT Solutions:

White-label solutions are ready-to-deploy solutions with a scope for little to no customization. However, pre-built solutions are essentially the basic architecture of NFT applications that may or may not require further customization. It means that there is no need to start from scratch. It also means that there are no restrictions over customization or source code ownership, such as with white-label solutions. They allow us to capitalize on the NFT buzz by launching an NFT minting platform, an NFT marketplace, or an NFT staking platform within a few weeks. Your time to market is greatly shortened by the ready-to-deploy modules and components for the NFT systems listed below. They can be used as a stand-alone solution or developed into an all-encompassing platform.

NFTs Minting Platform

NFT Marketplace Development

NFT Staking

Thinking of taking a demo of these pre-built NFT solutions built by our skilled NFT and blockchain developers, contact us now.

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Cross-Chain DEX for Seamless Interoperability and Liquidity

A vast array of blockchains and crypto exchanges contributes to the complexity of the crypto trading scenario. Users may need to take multiple steps, for instance, to transfer a token or crypto that is now on the Binance Smart Chain (BEP-20) to obtain LUNA tokens on the Terra network. This approach includes investing a lot of time in looking through and evaluating decentralized finance (DeFi) applications, especially when considering new consumers. Even experienced users require planning how to monitor wrapped token blockchain fees and become familiar with various UIs. It is easy to see how many queries the community has about bridging answers across exchanges by taking a quick look at Twitter. Cross-chain decentralized crypto exchange (DEX) development, as an alternative, utilizes smart algorithms to execute and complete trade orders across blockchain ecosystems.

Cross-chain DEX based on aggregators executes orders immediately and at the most efficient price. Indeed, they extend DeFi’s capabilities more efficiently.

This article explores cross-chain technology and cross-chain DEX in greater detail.

What is a Cross-Chain Bridge or Cross-Chain Technology?

Cross-chain, as its name suggests, permits the transfer of data, digital assets, NFTs, or cryptocurrencies from one blockchain platform to another. Tokens can move with ease across blockchains than they could have on separate blockchains, thanks to cross-chain technology. These cross-chain bridges serve as a medium across several cryptocurrency exchanges worldwide.

Without a cross-chain bridge, it is feasible to exchange data between multiple blockchains, but doing so is challenging, expensive, and time-consuming. Without cross-chain bridges, cryptocurrency exchanges require the conversion of funds into the local currency, which is typically subject to transaction fees. Then, we need to convert the cryptocurrency a second time, and this time it involves a charge. It takes a lot of time as a result. However, cross-chain technology enables transactions between blockchains without first turning them into fiat money. From one blockchain to another, it is possible to swap cryptocurrencies, as well as other assets like NFTs and smart contracts.

Cross-Chain DEX: What is it?

Many DeFi initiatives’ success depends on cross-chain compatibility. Cross-chain DEXs follow the concept of aggregators and the ongoing work to establish DEXs. They use a brand-new multi-chain network technology to form a pool of liquidity. By utilizing intelligent algorithms, asset diversification, rising liquidity, trading volumes, and expanding the market for decentralized finance, they allow users to transact across numerous blockchain ecosystems.

Cross-Chain DEX: How it Works?

Cross-chain DEX aggregators benefit from the knowledge of other aggregators and DEXs. To combine liquidity from many blockchains, they utilize cutting-edge multi-chain network topologies like EmiSwap. Cross-chain aggregators increase liquidity and asset diversification in the decentralized finance sector by employing the interoperability provided by linked blockchain architecture.

Cross-chain DEX aggregators employ smart algorithms to choose the most efficient paths between various blockchain ecosystems to complete trade requests. Users can instantly switch between tokens on networks because aggregators can quickly execute orders at the lowest cost across several protocols. On the Binance Smart Chain, Polkadot, Solana, Kucoin, and Polygon, you can build a cross-chain DEX aggregator. EmiSwap is one among them.

Cross-Chain Features and Advantages for DEX

The benefits of cross-chain features for a DEX powered by blockchain technology include the following:

-Interoperability

-Cross Collateral

-Low-Risk Trading

-Simple Trading

-Decentralized Crypto Trading

Work with Oodles to Develop Cross-Chain DEX

Cross-chain is the technology that will help DEXs evolve in the future. We offer cross-chain DEX development through smart contracts that let users transfer various tokens across various blockchains from a single DEX platform. Get in touch with our Cryptocurrency Exchange Development Services to begin creating a reliable decentralized application that anyone in the world can use, particularly on chains with cheaper gas prices.

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Why Use Solidity for Smart Contracts Development

Bitcoin initiated the boom of blockchain technology. It was a quick and simple way to transact in a decentralized manner since there is no involvement from banks. Additionally, there is a record of every transaction in the unalterable public ledger so people have confidence in it. However, Bitcoin has its limits. If blockchain technology had the right programming, it could be used for much more than just peer-to-peer financial trades. So, Ethereum came into existence to overcome this challenge. This platform is supported by a comparatively new programming language called solidity. This blog is all about this emerging programming language, including its importance in the emerging web 3.0 world and current implications across dApps, smart contract development and more.

What is Solidity Programming Language?

Solidity is a statically typed programming language that runs on Ethereum. This language utilizes several concepts from other programming languages. It shows similarities with C and C . Presently, solidity is the core programming language of Ethereum. It is a high-level programming language that is quite easy for developers to write and understand. Additionally, solidity is not just a programming language, it is also a tool to create machine-level code and compile it within Ethereum Virtual Machine (EVM). Essentially, developers use it for writing smart contracts on blockchain platforms to create business logic. Here is how it is used for smart contracts.

Solidity for Smart Contract Development

A smart contract is a computer program that runs on a blockchain platform to execute a task after fulfilling a pre-requisite condition. They work on the “if/when…then…” assertion, which is expressed in the coding. So, once a smart contract gets information from the ledger about a transaction, it performs the associated task automatically. But, even though they eliminate the involvement of any third party, they are dependent on the underlying codes. Solidity smart contracts are a particularly safe way to transfer anything of value because they are created on a blockchain and no entity can change or destroy them. It could, however, also be a drawback. Solidity smart contracts require flawless and error-free programming. You cannot go back and undo transactions. The only method to address flaws is to update the Ethereum code, which is a complex task.

Solidity makes designing, developing, and executing smart contracts on the blockchain platform quite easy for developers.

Benefits of Solidity Programming Language

Solidity has the following benefits.

Advantages of Solidity

Relatively Easy to Learn

Provide Application Binary Interface (ABI)

Supports various Data Types

Data Types Supported by Solidity

Data Types in solidity

Solidity Development Services

Stablecoin Development

Smart Contract Development

Decentralized App (dApp) Development

Digital Token Creation

Exchange Platform

Solidity’s Application in Blockchain Development

Voting

In the real world, there are several ways that fraud can be committed during the voting process, including data manipulation, booth capturing, false voters, voting machine manipulation, etc. We could utilize voting contracts to address some of these issues. The code may be planned with solidity, and with correct implementation, the voting process will be easy, transparent, and automatic.

Crowdsourcing

If done through contracts, crowdfunding can address several challenges such as third-party commissions, data management issues, etc. Smart contracts may be a far better option for crowdfunding than unreliable federal systems. Solidity can be used to construct these smart contracts.

Blind Auctions

On Ethereum, blind auction implementation using Solidity is very straightforward. It is possible to hold an open auction in which each participant is informed of the other’s bid. After then, a blind auction can be created in which no one can view other bidders’ offers until the auction is over.

More Ethereum Use Cases Development with Solidity

The ecosystem of Ethereum supports the development of several decentralized applications and tokens. Smart Contracts are used by a wide range of enterprises and organizations to build several cutting-edge dApps and other emerging innovations on Ethereum.

In the Ethereum ecosystem, both fungible and non-fungible tokens are created according to different specifications. To emphasize, Solidity is used to create Smart Contracts for both fungible and non-fungible tokens.

Different sorts of Ethereum use cases are supported by Solidity, enabling the use of fungible and non-fungible tokens on the platform. With Ethereum, non-fungible tokens may be created, non-fungible tokens can be added to yield farming pools, and so on.

Solidity is used to create a new type of online organizational structure called a DAO (Decentralized Autonomous Organization), which enables multiple users to join as members on a platform online and cast votes for the DAO’s important decisions. Processes inside the DAO can be automated using Solidity.

Conclusion

Solidity plays a crucial part when it comes to Ethereum blockchain app development. Deft knowledge of this programming language can unlock the untapped potential of the Ethereum blockchain. However, not many people are well-versed in this emerging language. Moreover, with the help of our technical experts, you don’t have to worry about anything. Our team of skilled Solidity developers has experience with a variety of blockchain technologies, including the Solidity programming language. We have efficiently developed and managed many blockchain applications in numerous industries, namely finance, real estate, finance, and others. We adhere to exceptional firm development tactics for the best results.

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Pre-Built NFT and Smart Contract Solutions for Quick Launch

Given the fierce competition in the blockchain, crypto, and NFT space,  NFT and smart contract solutions from scratch might not be a wise idea. Because the NFT-verse, powered by blockchain and smart contracts, is a dynamically evolving space. It is highly likely that by the time you get ready with your developed solution for an NFT trend, like minting, staking, or trading, it will have passed. Additionally, numerous popular platforms have already occupied a majority of the NFT audience, like OpenSea, Sorare, and more. Therefore, it is imperative to enter the market without delay, and that too, with highly advanced NFT and smart contract solutions to capitalize on the trends in this competitive market. But how to launch an NFT or smart contract solution with all the market-leading features in no time? Not Whitelabel but opting for pre-built NFT and smart contract solutions is the answer.

Let us dive into details about how pre-built solutions can save business enthusiasts from development woes and challenges.  

What is a Pre-Built Solution/Module

A pre-built solution/module is an already developed and tested basic architecture of a technology solution. It enables a business enthusiast to quickly modify, add, or remove a few features according to the business requirements. It proves time efficient, as it saves developers from researching, strategizing, and developing a fundamental architecture from scratch. A newly developed solution and a pre-built suite of modules have their own advantages. One should opt for either method based on the need to market and other critical business requirements. However, let us take a quick look at what both methods entail.

Developing NFT and Smart Contracts from Scratch Vs/ Pre-Built Modules

Starting from ScratchIntegrated Solutions

Pre-Built NFT and Smart contract Solutions by Oodles

At Oodles, our R&D and developers teams analyzed the trends related to NFT and smart contracts. They found that developing applications from scratch proves time-consuming and costly. Additionally, every time a new project is acquired, it requires the repetition of the development process to a certain extent.

To tackle the challenge, our blockchain experts developed pre-built solutions/modules. They understood the need to enter the blockchain and crypto space without delay. Thus, they developed a few ready-to-deploy smart contracts and NFT solutions. These solutions comprise prefabricated components and features. Each solution is similar to a fundamental architecture of a new project. One only has to configure it as per market and business requirements and launch it. You can either launch one solution or offer them as a combined bundle. Now, let us explore what each NFT and smart contract solution offer.  

Ready-to-Deploy NFT Solutions

NFTs Minting Platform

NFT Marketplace Development

NFT Staking

Different NFT Standards for NFT Solutions

Turn-Key Smart Contract Solutions

ERC20 Token Development

Ready-to-Launch Staking Contract

Governance token Development

Blockchain Platforms for Smart Contract Modules Development

How to Get Started with Pre-Built NFT and Smart Contract Solutions

Enter the Blockchain and Crypto Space with Confidence

Our ready-to-deploy smart contract and NFT solutions facilitate business initiators and entrepreneurs to quickly launch their business idea and build revenues without excessive expenditure. We do deliver blockchain-based solutions built from scratch as per business requirements. However, considering the competition, we aim to reduce your time to market effectively with our solutions. Take a look at the team of our expert blockchain, crypto, and NFT developers behind the development of these pre-built solutions.

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Why Develop DApps on Solana?

The Solana blockchain is sometimes referred to as an Ethereum killer, a Bitcoin rival, and an industry disruptor when it comes to dApps and smart contracts development. But is Solana truly capable of dominating the DeFi industry?

It is very understandable to be excited about Solana and its SOL coin. Since its inception in March 2020, the blockchain has garnered attention from several media outlets thanks to its distinctive features and, of course, rising value.

Why Solana for dApps Development?

The Solana ecosystem is a technology cluster that collaborates with the protocol to increase speed and scaling from a technical standpoint. The Proof-of-History (PoH) protocol is used by the ecosystem. PoH is a special synchronization algorithm created for Solana, not just another consensus mechanism. The primary goal is to create a single time stream of events and add timestamps to each block without using complicated, time- and energy-intensive processing like the Ethereum and Bitcoin chains. The timestamps allow the validators to complete the transactions more quickly, reducing network load and maximizing Solana’s bandwidth.

A dApp application on the Solana blockchain is generally many times less expensive for users and costs customers around the same as on EVM-compatible networks.

Endless Scalability

Reduced Fees

Superior Performance

Eco-friendly Economy

High Capacity and Security

Rewards for Stake Delegation

A Broad Network of Partnerships

Passive Earnings

Censorship Opposition

Precise Engineering

Features of Solana for dApps Development

Proof-of-History

Protocol for Turbine-Block Propagation

Gulf Stream

Pipeline

Sealevel

Popular Solana projects

DeFi Projects

Wallets

Stablecoins

NFTs

Conclusion

Solana has come a long way since its start in 2020, luring a number of renowned projects to the ecosystem, which indeed ultimately assisted it in growing its user base. It is a popular option for product development because of its scalability, fast throughput, and pennies-per-unit costs. We covered some of Solana’s primary advantages as well as some of its other characteristics to determine whether or not constructing on Solana is a wise move. We hope that this blog will aid in your decision-making. If you need more information about how to get started with dApp development on Solana Blockchain, connect with our skilled blockchain development experts.