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Deploy a smart contract
Smart contracts are digital contracts stored on the Blockchain. Basically, it is a set of instructions that run when a user calls for a function from that smart contract. A smart contract is most commonly developed using Solidity, which is an object-oriented programming language much similar to JavaScript, Python, and C++.
Smart contracts are most commonly developed using an object-oriented programming language named Solidity. To be specific, Solidity uses syntaxes similar to other programming languages such as Python, C++, and JavaScript. A smart contract is nothing but a script. It can be customised or reused according to your business needs before deploying it on the blockchain.
Usually, once the smart contract is deployed it cannot be modified. Being a developer, if your smart contract needs to be tweaked or changed, you can consider
upgradable smart contract
. It allows you to alter the existing smart contracts using proxy patterns. After deployment, this proxy contract becomes a point of reference for all transactions instead of the old logic contract. You can use this concept if you wish to plug in new functionalities or bug fixes as a part of new logic.ERC is short for Ethereum Request for Comment and the number 20 is denoted as the proposal identifier. ERC-20 is a standard template used to create tokens based on Ethereum.
ERC-20 contract was developed by taking uniformity across all platforms into consideration. Initially, tokens were different from one another and this difference gave developers a tough time. Because, if a developer had to create or add a token, he first had to decode (understand) the smart contract before implementing any changes to the code or even creating a new token. Since, there was no standard template, structure, or set guidelines, it became a challenge to introduce those on various platforms and wallets. As a solution to this vast disparity, standardised templates were developed including ERC-20.
A wide range of standardised tokens can be incorporated into wallets and exchanges today using the ERC-20 standard, and you can easily exchange ERC-20 tokens with other crypto tokens as well.
Last modified 10mo ago