The data management and supply chain setup fragmentation is leading to many issues in areas like tax and audit. For both seasoned and novice bitcoin traders, websites like www.bitcoinscircuit.com provide their user interface and trading methods. The platform has paid extraordinary attention to detail while designing its user interface. The blockchain ledger can allow companies to account for transactions happening across the globe.
Smart Scripting Smart Contract is an initiative that wants to build a platform with the most stable scripting language for business interactions on the blockchain that will be able to integrate with legacy systems, emerging technologies, and innovations.
Smart Scripting Smart Contract Addresses the Following Issues
Accounts with centralized record-keeping systems become prone to corruption. In addition, a lack of total ownership of data can lead to losing vital information that a company needs for its success. Smart Scripting Smart Contract will allow companies to use their existing accounting programs while protecting their confidential data on the blockchain ledger.
A lack of technological knowledge and expertise can lead to errors in transactions and records, which is detrimental to the settlement process. With these blockchain technologies, companies can rely on automated code execution using the smart contract’s programming template and the automatic code execution framework they use in their business operations
Intelligent contracts are difficult to create and debug in poorly understood programming languages.
Programmability
Clever scripting programming language has designed a scripting language that is easy to use and can be used by all programmers with or without blockchain knowledge.
Program Execution
The smart contract is an ideal platform for executing business transactions and automatic digital processes without requiring expensive third parties.
Smart Contract Development Process
Smart Scripting smart contract has three phases of the development process- White Paper, Implementation, and Asset Issuance.
Benefits Smart Scripting Smart Contract Platform Provides
- Economic Incentives for Accurate Reporting: Accurate reporting of data can remove expenses for auditors, reduce capital gains tax, improve cash flow and increase ROI for investors.
- Global and Offline Transactions: Decreases the number of steps taken to complete a transaction, thus speeding up the process.
- Programmable Transactions: Execute innovative contract programs on blockchain networks with HCL or any other programming language, allowing entrepreneurs to create their applications with programmable transactions on blockchain networks.
- Smart Contract Asset Issuance: The platform will also provide asset creation and issuance service for entrepreneurs who wish to issue their assets for trading on the public blockchain network, maintaining their essential asset creation and lifetime records.
- Blockchain Integration: Integrate blockchains that can be used to transfer value between different formats in the financial sector, such as virtual currency, fiat currencies, or commodities.
- Smart Financial Index: Smart scripting smart contract has created an intelligent financial index, which people can use to track market trends and real-world events using the blockchain network.
Sidechains and merged mining
Sidechains are a development in crypto which allows the creation of different blockchains all on one network. It is similar to the way multiple websites run on the same server. Smart Scripting intelligent contracts will be utilizing this process to create multiple blockchain networks for different industries, each with its own customized intelligent contract scripting language for financial transactions.
Another feature that this platform will have is the potential implementation of “merged mining,” which will allow the participation of bitcoin miners in validating intelligent contract transactions, solving the scaling problem experienced by ethereum.
Through a self-executing blockchain contract, companies go beyond what is possible through traditional contracts to leverage opportunities for businesses and promote trust between customers, employees, and suppliers alike. Instead of close-ended contracts going through lawyers and notaries, these smart contracts are immutable open-source public records with an automated system.
Probable irrevocability
Smart scripting smart contract is programmed to be fully automated and self-executing so that the terms of an agreement are fully enforceable through digital signature. It differs from a smart contract with an “or” option, meaning it is not enforced and can be overridden by any future transactions. In addition, irrevocability means there is no possibility of backing out in the future, meaning companies cannot change their minds without penalty.
Smart Scripting intelligent contracts will allow companies to issue assets on a supply chain network using the automation process they created. In addition, clever Scripting intelligent contracts will provide asset issuance service for all companies who want to issue assets on blockchain networks.
Merkle tree
The Merkle tree is a hash function that helps execute the scripting language efficiently, reducing the time and cost to verify asset transfers on blockchain networks.
Problems
Innovative contract transactions are currently constrained by the size of data they can handle. Smart script smart contract provides additional space, a new way of calculating fees, and fewer user fees. In addition, people involved in digital transactions want to use dynamic ledger records that they can add and subtract information on the Internet or network. It is possible using clever scripting smart contracts’ capacity for additional information storage.
