Best Practices: Evaluating Smart Contracts

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Del curso dictado por University at Buffalo

Smart Contracts

529 calificaciones

University at Buffalo

Smart Contracts

529 calificaciones

Curso 2 de 4 en SpecializationBlockchain

This second course of the Blockchain specialization will help you design, code, deploy and execute a smart contract – the computational element of the blockchain technology. Smart contracts allow for implementing user-defined operations of arbitrary complexity that are not possible through plain cryptocurrency protocols. They allow users to implement conditions, rules and policies of the domain applications. Smart contracts are a powerful feature that, when properly designed and coded, can result in autonomous, efficient and transparent systems. You will design and program smart contracts in Solidity language, test and deploy them in the Remix development environment, and invoke them from a simple web interface that Remix provides. This course features best practices for designing solutions with smart contracts using Solidity and Remix IDE. Main concepts are delivered through videos, demos and hands-on exercises.

De la lección

Best Practices

This module will focus on best practices including evaluating whether a blockchain-based solution is suitable for your problem, designing Solidity smart contracts, and those relating to Remix IDE.

Best Practices: Evaluating Smart Contracts4:48

Designing Smart Contracts7:20

Remix Web IDE3:27

Conoce a los instructores

Bina Ramamurthy
Teaching Professor
Computer Science and Engineering Department

We have discussed the design and development of

a smart contract throughout the course thus far.

This module will focus on the best practices.

We'll begin with the cautionary note about evaluating

whether a blockchain-based solution is suitable for your problem.

We'll then discuss some of the best practices when designing Solidity smart contract

focusing on data functions and their visibility modifiers and access modifiers.

We will follow it up with best practices as it relates to Remix IDE.

Upon completion of this module,

you will be able to list the best practices when designing blockchain-based application.

Illustrate the best practices for designing solutions with

smart contract using Solidity and Remix IDE.

Blockchain is not a solution for all applications.

Make sure your application requirements need blockchain features.

In other words, blockchain-based solutions and

smart contracts are not a panacea for all problems you have.

Then, what is it good for?

Recall that we learned in course one that blockchain solution is most suitable for

applications with these characteristics: Decentralized problems,

meaning participant hold the assets and are not co-located.

In more, peer-to-peer transaction without intermediaries.

Operate beyond the boundaries of trust among unknown peers.

Require validation, verification, and

recording on a universally timestamped, immutable ledger.

Autonomous operations guided by rules and policies.

Make sure you need a smart contract on blockchain for your application.

Understand that smart contracts will be visible to

all participants on the chain and will be executed on all the full nodes.

You need a smart contract when you need

a collective agreement based on rules, regulation,

policies, or governance enforced,

and the decision and the provenance for it must be recorded.

Smart contract is not for single node computation.

It does not replace your client server or inherently stateless distributed solutions.

Keep the smart contract code simple, coherent, and auditable.

Let it solve a single problem well to avoid design and coding errors.

In other words, let the state variables and the functions

specified in a smart contract be addressing a single problem.

Do not include redundant data or unrelated functions.

Make the smart contract functions auditable by using custom function modifiers

instead of inline if-else code for

checking pre and post conditions for a function execution.

Smart contracts are usually part of a large distributed application;

the part that requires the services provided by the blockchain.

Blockchain is not a data repository.

Keep only the necessary data in the smart contract.

Of course, it is an immutable distributed ledger of transactions.

Recall that the blockchain also manages

the state transitions and maintains the state hash,

transaction hash, and receipt hash in the header of each block.

These are indeed application dependent overheads.

Given these characteristics, it's a good practice to analyze

the application data and separate them into on-chain an off-chain data.

Design the state variables for the smart contract to

be efficient storage for the on-chain data.

Leave the off-chain data to be managed by higher level applications.

As an example, instead of keeping and enter

a 500 pages of a public legal document on the chain,

keep only the metadata about the document,

including a secure hash to protect the integrity of the document.

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