Libonomy makes smart contracts available to everyone

Blockchain has become a real revolution in the modern world; it is not just the appearance of cryptocurrencies and other financial instruments, but also the creation of foundations for the development of business relations on a completely new level. Principles like decentralization and transparency, have allowed the emergence of p2p deals in areas, where it was almost impossible before. Blockchain selected intermediaries from many businesses and industries and provided free opportunities for many business people. Many businesses and industries have noticed the opportunities and been able to evolve thanks to blockchain technology.

One of the reasons this became possible was thanks to the invention of smart contracts – self-executing computer algorithms that monitor compliance with the terms of the transaction by both parties. Thus, it is a smart contract that allows you to conduct any transactions, exchanges, and business operations without the participation of third parties, which means faster, cheaper and easier.

If smart contracts on the blockchain have such an undeniable advantage, why are they not used on a larger scale? This is a reasonable question. The main problem, besides the global adoption of the blockchain, is the difficulty of launching a smart contract. It is not an easy task even for professional developers. The creation of smart contracts requires knowledge in smart contract development, which is a rather highly specialized niche.

The beginning of a new era of business relationships

But it seems that the creation of smart contracts will no longer be a problem. Fredrik Johansson and co-founders Richard Haverinen and Therese Johansson of Libonomy blockchain, have invented a unique technology, the likes of which simply did not exist before.

The ONE CLICK SMART CONTRACT open-source platform will allow every interested person to create and launch a smart contract absolutely free of charge, in a matter of minutes.

Like Michel Valdrighi and Matt Mullenweg, who changed the web development industry forever with the creation of WordPress in 2003, the guys at Libonomy are now one step away from a real revolution in the world of blockchain.

Yes, many blockchains, first of all, Ethereum, offered their capabilities for creating smart contracts much earlier. However, the development of smart contracts based on Ethereum and other blockchains requires serious qualifications and knowledge, as well as a substantial amount  of time.

From now on, thanks to ONE CLICK SMART CONTRACT from Libonomy, smart contracts will become simpler, safer, and more importantly, they will be compatible with different blockchain protocols. Now, to create your smart contract, it will be enough to fill in the necessary requirements and give the Libonomy platform a few minutes to generate the code. Thus, it will no longer be necessary to use the services of blockchain developers or auditors to create 90% of all smart contracts.

Users can either deploy the contract on Libonomy by using the platform’s deployment automation tool or they have the option to do that manually as well. Libonomy’s smart contract technology also includes, its contract auditing tool as well where the written code is pen-tested by the blockchain’s auditing algorithm and any flaw or vulnerability is highlighted to the user beforehand and resolved so that before the deployment if there is any issue , it’s resolved by the platform itself and users no longer have to worry about any issue or risk. Now after the deployment in order to carry out the functions of the smart contract or to use its functionality, the platform also includes the UI for interaction with the deployed smart contract where the users have the ability to do any operation without any need of a developer or a technical person. The platform will also give users the ability to build smart contracts for token sale, stable coins, utility tokens, security tokens or real estate directly through the user interface. For the purpose of making a smart contract with some complex functionalities or custom functionalities users have the ability to do that manually or request for support where our platform will accommodate them. It should be highlighted that any smart contract built on libonomy is also compatible with Ethereum blockchain as well which makes it first of its kind blockchain where even the smart contract can be used in an interoperable manner with extra benefits as well. 

Perhaps we are now as close as possible to the worldwide adoption of the blockchain. The general transition to decentralized p2p deals could radically change the modern world, no less than the first launches of Space X or the preparation of an expedition to Mars, on which Elon Musk is working.

About author


Morris is a Technology enthusiast and a writer by night. He has been a part of TheTechly for quite some time and he contributes knowledgeable news articles from the Technology niche.
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