How To Create Stellar Smart Contracts- A Comprehensive Guide

In October 2022, the Stellar Development Foundation (SDF) made a groundbreaking announcement: Soroban, Stellar’s native smart contracts platform, was live on Futurenet. This development signifies a major shift for Stellar, a blockchain platform originally focused on simple value transfers. 

Smart contracts have been a key feature of other blockchains like Ethereum, enabling trustless exchanges without intermediaries. While Stellar’s primary strength lies in fast and low-cost transactions, it didn’t natively support smart contracts—until now.

With Soroban, Stellar can now host a wide range of decentralized applications and financial instruments, opening up new possibilities for developers and users alike. In this article, we’ll explore the potential of Soroban and learn more about Smart Contracts and how to create smart contracts on the Stellar blockchain using this exciting new tool. 

What is a smart contract?

Smart contracts, a fundamental innovation in blockchain technology, are revolutionizing the way agreements are executed and transactions take place. These self-executing programs, residing on a blockchain, activate when specific conditions are met, all without the need for intermediaries.

Smart contracts are similar to digital “if/when…then” statements. They are translated into code and live on a blockchain. These lines of code execute actions automatically when predefined conditions are met and validated by a network of computers. These actions can range from issuing notifications to releasing funds, registering vehicles, and more. Once the transaction is completed, the blockchain records the information, making it immutable and accessible only to authorized parties.

Smart contracts are versatile; they can encompass as many conditions as required to ensure the satisfaction of all involved parties. Participants must agree on how transactions and data will be represented on the blockchain and establish the rules that govern these transactions. Developers can then program these contracts. However, thanks to templates, web interfaces, and other online tools, building and executing smart contracts has become more accessible than ever.

Benefits of Smart Contracts

Beyond the core advantages, smart contracts offer a multitude of benefits that extend to various industries and use cases:

Trustworthy Agreements

Smart contracts are inherently tamper-resistant. Once an agreement is executed, it’s recorded on the blockchain, creating an immutable record. This builds trust among the parties involved, knowing that the terms of the contract cannot be altered without consensus. This level of trust is particularly vital in industries like real estate, where property ownership and transaction history need to be unquestionably secure. The transparency of the blockchain ensures that everyone has access to the same, unchangeable data, reducing disputes and uncertainty.

Reduced Intermediary Costs

Traditional contracts often involve intermediaries such as lawyers, banks, or brokers, which add significant costs. Smart contracts eliminate the need for intermediaries, reducing expenses and streamlining processes. This is especially advantageous in the financial sector, where complex financial instruments can be executed automatically, eliminating the need for costly middlemen and speeding up transactions.

Global Accessibility

Smart contracts are not bound by geographical limitations. They can be accessed and executed globally, allowing for international transactions and agreements without geographical barriers. This is crucial for cross-border trade, enabling businesses to engage with partners and customers worldwide without the friction of converting currencies or navigating multiple legal systems.

Enhanced Data Security

The use of encryption and blockchain technology ensures the security and privacy of sensitive information. Parties involved can have confidence that their data is protected. In the healthcare industry, for instance, where patient records must be kept confidential, smart contracts can ensure that only authorized personnel can access and update this critical data.

Automated Compliance

Smart contracts can be programmed to automatically enforce legal and regulatory compliance. This reduces the risk of inadvertent breaches and legal disputes, saving time and resources. In the legal sector itself, smart contracts can be used to automate legal processes, ensuring that legal documents and agreements comply with ever-changing laws and regulations.

Immutable History

The transaction history stored on the blockchain provides a comprehensive, transparent, and unchangeable record. This history can be invaluable for auditing, legal purposes, and dispute resolution. In the insurance industry, for example, smart contracts can automatically trigger claims processing when certain conditions are met, and the immutable transaction history serves as clear evidence in case of disputes.

Reduced Fraud

The transparent and secure nature of smart contracts makes fraudulent activities more challenging. Parties involved can trust that the agreed-upon conditions will be met without manipulation. In the e-commerce sector, for instance, smart contracts can ensure that goods are delivered as described, and payments are only released when the buyer is satisfied, reducing the risk of fraudulent transactions.

Streamlined Supply Chains

In supply chain management, smart contracts can automate the tracking and verification of goods as they move through the supply chain. This minimizes errors and ensures the authenticity and quality of products. In food supply chains, for instance, smart contracts can automatically verify the origin and safety of products, allowing for swift recalls in case of contamination.

Efficient Payment Processing

For businesses, smart contracts can facilitate faster and more efficient payment processing. Invoices can be automatically generated and paid once conditions, such as delivery confirmation, are met. This benefits industry such as freelancing, where contracts can trigger automatic payments upon project milestones being achieved, reducing payment delays and administrative overhead.

Environmental Sustainability

The automation and efficiency offered by smart contracts can reduce the need for excessive paperwork and physical processes, contributing to a more environmentally sustainable business environment. In the energy sector, for example, smart contracts can automate energy trading and consumption management, reducing waste and carbon emissions.

Increased Innovation

As smart contract technology evolves, it opens the door to new and innovative business models and applications, fostering entrepreneurial endeavors and economic growth. Industries ranging from intellectual property to art and music are seeing innovative models emerge, thanks to the ability to automatically enforce royalties and licensing agreements through smart contracts.

What is Stellar blockchain?

Stellar, an open-source network, stands as a pivotal bridge between traditional financial systems and the vast realm of digital assets. Designed to facilitate the creation, sending, and trading of digital representations of value, Stellar offers a unique platform for asset issuance and payments, seamlessly accommodating various forms of currency, from U.S. dollars to Argentine pesos. 

Let’s understand Stellar’s inclusive ecosystem. Stellar’s core mission revolves around fostering financial inclusivity, enabling all global financial systems to interact seamlessly on a single, open network. Unlike other platforms with centralized ownership, Stellar takes a different approach, positioning itself as a public network without owners. It’s a decentralized system owned entirely by the public, emphasizing trust, transparency, and accessibility.

The Stellar experience is very efficient and cash-like. While Stellar shares its foundational technology with prominent blockchains like Ethereum and Bitcoin, the user experience is remarkably different. Stellar provides an experience akin to cash transactions, prioritizing speed, affordability, and efficiency. It has carved a niche for itself as a blockchain-based system that mimics the swift and hassle-free nature of cash transactions.

Stellar’s unique value proposition lies in its adaptability. It has always been designed to enhance existing financial systems rather than replace them, distinguishing it from networks solely dedicated to cryptocurrencies. Stellar is a versatile and decentralized system capable of efficiently trading any form of value, not limited to cryptocurrencies. It stands as a testament to the idea that the digital and traditional financial worlds can coexist harmoniously.

At the heart of Stellar’s ecosystem is its native digital currency, known as the lumen. Lumens serve as the fuel for initiating accounts and conducting transactions within the network. Importantly, Stellar does not favor any particular currency beyond these basic requirements. Instead, its primary goal is to enhance the accessibility and usability of traditional forms of value in the digital realm.

How does Stellar work?

Stellar operates as a system to track ownership, utilizing an immutable ledger similar to traditional accounting systems. What sets Stellar apart is its decentralized nature; it functions without a central authority overseeing its operations. Instead, it relies on a network of computers that validate each other’s work autonomously, creating a highly secure and tamper-proof ecosystem. This design ensures that the network remains impervious to external interference and manipulation. Stellar’s ledger updates every five seconds, a remarkable feat achieved through its unique Stellar Consensus Protocol (SCP), which employs Proof-of-Agreement to maintain consensus. SCP is highly efficient, flexible, and fast, driving Stellar’s success in the blockchain space.

Nodes play a pivotal role in Stellar’s functioning. These computers, running Stellar’s core software, are responsible for publishing and verifying the ledger. They ensure the accuracy of all transactions, whether it’s sending tokens through Stellar applications or conducting any other operation. Each node cross-verifies these transactions with other nodes in the network, and only when a unanimous consensus is reached, is the transaction recorded on the immutable ledger, enhancing its security and integrity. Stellar boasts a global network of nodes, each participating in the verification of the Stellar protocol. This transparency and openness stand in contrast to traditional centralized institutions, where a single authority governs all decisions.

Horizon, a powerful API layer, simplifies the process of using Stellar. It allows users to interact with Stellar’s capabilities in a user-friendly manner, even if they lack in-depth knowledge of SCP. With Horizon, moving digital assets, conducting market transactions, and issuing assets become more accessible, thanks to well-documented and straightforward functions. This simplification opens up a world of possibilities for individuals and businesses, making it easier to transfer assets, engage in market activities, and create digital tokens.

What are Stellar smart contracts?

Stellar, unlike Ethereum, does not provide an in-built smart contract language or a virtual machine for writing and optimizing smart contract code. Instead, it offers a distinctive approach where smart contracts are crafted by combining transactions and applying various constraints to achieve the desired outcomes.

A Stellar Smart Contract, or SSC, is essentially an amalgamation of executed transactions interconnected through a variety of constraints. These constraints dictate the conditions that must be met for a transaction to be considered valid. Stellar’s approach to smart contracts is both flexible and powerful, allowing developers to create complex and customized agreements without the need for a dedicated smart contract language or virtual machine. Here are some examples of key constraints in SSCs:

Multisignature

The multi-signature constraint is a fundamental building block of SSCs. It determines which keys are required to authorize a specific operation and which parties must agree on particular conditions to execute specific steps. Multisignature essentially enforces the requirement for the signatures of multiple parties to approve transactions originating from an account. This feature is particularly useful for scenarios that demand multiple levels of approval or security.

Atomicity/Batching

Atomicity is another critical constraint in SSCs. It defines the set of operations that must either succeed together or fail together. If any part of a batched set of operations fails, the entire transaction is rejected. Batching allows multiple operations to be grouped into a single transaction, and atomicity ensures that the entire sequence of operations either succeeds as a whole or fails in its entirety upon submission to the network.

Sequence

The concept of sequence is an integral aspect of SSCs. It dictates the order in which a series of transactions should be processed, taking into account dependencies and limitations. Sequence numbers, which are visible on the Stellar Network, help manage and manipulate transaction execution. This ensures that specific transactions do not proceed if an alternative transaction has been submitted, offering fine-grained control over the transaction order and dependencies.

Time Bounds

Time bounds introduce a temporal dimension to SSCs, enabling restrictions on when a transaction can be executed. Time bounds define valid time periods for the execution of a transaction, enhancing the flexibility and adaptability of smart contracts. This feature is particularly valuable for scenarios where transactions should be time-sensitive, allowing for a dynamic representation of time periods within an SSC.

Benefits of creating Stellar smart contracts

Creating Stellar smart contracts offers a range of benefits that set it apart in the world of blockchain technology:

Efficiency and Speed

Stellar smart contracts excel in terms of efficiency and speed. The platform’s design allows for near-instantaneous execution of transactions, with ledger updates occurring every five seconds. This rapid processing is particularly advantageous for use cases where time sensitivity is critical, such as remittances and securities trading. Stellar’s capability to handle a high volume of transactions efficiently positions it as a top choice for applications that demand swift execution.

Transparency and Trust

Stellar’s public ledger ensures transparency, a fundamental element of trust in any transaction. All participants in the network have access to the same unchangeable data, reducing the potential for disputes and fraudulent activities. This transparency is invaluable in contexts where trust is paramount, such as financial transactions and asset exchanges. Participants can independently verify the authenticity of each transaction, promoting trust among stakeholders.

Cost Savings

The elimination of intermediaries from transactions translates into significant cost savings. Stellar smart contracts streamline processes by removing the need for middlemen like banks or legal representatives. This cost-effectiveness makes it an attractive solution for various industries, from financial services to supply chain management. Reduced operational costs and transaction fees further enhance the financial efficiency of Stellar-based smart contracts.

Security and Immutability

Stellar’s blockchain-based smart contracts offer a high level of security and immutability. Once an agreement is executed and recorded on the blockchain, it becomes impervious to alteration without consensus. This robust security is essential in industries where data integrity and transaction validity are critical, such as healthcare, where patient records must remain unaltered to ensure patient safety and privacy.

Global Accessibility

Stellar smart contracts transcend geographical boundaries, making them accessible and executable on a global scale. This global accessibility is invaluable for businesses engaged in international trade, cross-border payments, and global financial services. Stellar’s capacity to facilitate seamless interactions between parties across the world simplifies cross-border transactions and broadens the scope of international business.

Environmental Sustainability

The environmental benefits of smart contracts are increasingly significant in a world focused on sustainability. By automating and streamlining processes, smart contracts reduce the need for extensive paperwork and manual operations. In industries striving to reduce their carbon footprint, such as the energy sector, the use of smart contracts contributes to a more sustainable business environment, aligning with environmental and ethical considerations.

Innovation

Stellar’s versatility and the expanding ecosystem around smart contracts open doors to new and innovative business models and applications. The flexibility of smart contracts allows for the creation of unique solutions across various sectors, including intellectual property, art, and entertainment. These innovations contribute to economic growth and creative entrepreneurship in the evolving landscape of blockchain technology.

Key Market Stats For Smart Contracts

Source: Grand View Research

• In 2022, the global smart contracts market reached a valuation of USD 684.3 million, setting the stage for significant growth in the coming years.
• Anticipated to surge at a remarkable compound annual growth rate (CAGR) of 82.2% from 2023 to 2030, the smart contracts market is poised for substantial expansion.
• The driving forces behind this growth include the escalating adoption of blockchain technology, continuous technological advancements, heightened operational efficiency, and substantial cost savings.
• Smart contracts are intrinsically linked to blockchain technology, which is experiencing surging popularity as businesses increasingly prioritize secure, efficient, and transparent data management and transaction execution.
• Moreover, smart contracts are pivotal components of the burgeoning Decentralized Finance (DeFi) ecosystem, which has witnessed rapid expansion in recent years.
• The growing adoption of DeFi by a broader user base is expected to further boost the demand for smart contracts, solidifying their pivotal role in the financial landscape.

Cost-Affecting Factors to Create Stellar Smart Contracts

Creating Stellar smart contracts involves various cost-effective factors that developers and organizations should consider to manage expenses efficiently. These factors contribute to cost-effectiveness while ensuring the successful deployment and operation of smart contracts on the Stellar blockchain:

Smart Contract Complexity

The complexity of the smart contract significantly influences the cost. More intricate contracts with numerous conditions and actions may require greater development time and effort, resulting in higher costs. Simple, well-structured contracts can be more cost-effective to create and maintain.

Development Team

The composition of your development team plays a crucial role in cost management. Utilizing an experienced and knowledgeable team familiar with Stellar smart contract development can reduce development time and, subsequently, costs. Additionally, open-source community support can be a cost-effective resource for guidance and assistance.

Testing and Debugging

Rigorous testing and debugging are essential to ensure the reliability and security of smart contracts. Allocating resources to comprehensive testing can help identify and rectify issues early in the development process, preventing costly errors in production.

Security Audits

Security audits are a critical cost-effective measure to identify vulnerabilities and weaknesses in smart contracts. While they involve additional expenses, they can prevent costly security breaches or contract failures in the long run.

Transaction Fees

Stellar transactions incur fees to cover network resources. Depending on the complexity of your smart contract and its execution frequency, transaction fees can vary. Optimize your contract’s efficiency to minimize these costs. Stellar’s low transaction fees are generally cost-effective compared to some other blockchain platforms.

Documentation and Knowledge

A well-documented smart contract can save costs associated with troubleshooting and maintenance. Developers can quickly understand and work with the contract, reducing the time and expenses involved in making modifications or addressing issues.

Compliance and Legal Aspects

Ensuring compliance with relevant regulations is vital. Incurring costs for legal consultations and compliance checks upfront can prevent costly legal issues or fines later on.

Community Resources

Leveraging the Stellar community and available resources can be a cost-effective strategy. The community provides support, knowledge sharing, and open-source tools that can reduce development time and costs.

Maintenance and Updates

Consider the long-term costs of maintaining and updating your smart contract. Ensure that you have a plan and budget in place for post-deployment support and enhancements.

Resource Optimization

Efficiently use Stellar’s features and constraints to optimize the use of resources, such as XLM for transaction fees. Minimizing unnecessary resource consumption contributes to cost-effectiveness.

Monitoring and Analytics

Implementing monitoring and analytics tools can help identify and address performance issues or unusual behavior promptly, preventing potential costly disruptions.

Economic Sustainability

Consider the economic sustainability of your smart contract. Ensure that the benefits and cost savings it provides outweigh the initial and ongoing expenses.

Technology Stack To Consider To Create Stellar Smart Contracts

Stellar Laboratory	An online integrated development environment (IDE) offered by the Stellar Development Foundation, allows users to write, test, and deploy SCP smart contracts through a web browser. It features a built-in simulator and test network.
Stellar Studio	Another web-based IDE and contract builder for Stellar, providing a user-friendly visual interface for the creation, testing, and deployment of smart contracts.
StellarX	A blockchain explorer and wallet designed for the Stellar network, offering a straightforward smart contract builder to create basic conditional payments and escrow contracts.
Stellar Smart Contract API	An application programming interface (API) that empowers developers to manage smart contracts on the Stellar network directly from their applications, enabling programmatic control over contract-related operations.
Various SDKs	Stellar offers a range of software development kits (SDKs) for multiple programming languages, including JavaScript, Java, Python, Go, and more. These SDKs enable developers to build applications that seamlessly interact with Stellar’s smart contracts.

What is Soroban?

Introduced by Futurenet, Soroban is an innovative smart contract platform purposefully designed for optimal performance. Supported by a substantial $100 million fund, the native smart contract platform Soroban made its debut on the Stellar network in October 2022, signaling a new era in blockchain-based agreements. With a call to developers for their invaluable contribution, Soroban has gone live on Futurenet, and the Rust-based code is readily available for download. Before its official launch in early 2023, the platform will undergo comprehensive testing to ensure seamless functionality and security.

Soroban introduces Turing’s complete smart contracts to the Stellar network, developed with WebAssembly (WASM) and Rust. This sophisticated integration of technology is aimed at achieving top-tier performance. Combined with the Stellar network’s robust infrastructure, Soroban is poised to unlock a plethora of use cases, particularly in the realm of expanding access to financial services. Now that Soroban is live on Futurenet, developers are encouraged to start crafting and deploying smart contracts within the Soroban Fiddle testing environment, with the added incentive of rewards.

It’s important to note that while Soroban operates independently, it forges a symbiotic relationship with the Stellar network. This partnership ensures that developers and users enjoy seamless and equitable access to decentralized finance (DeFi) solutions, opening up a world of possibilities for financial inclusion and innovation.

To catalyze the growth of the Soroban ecosystem, the Soroban Adoption Fund has allocated a substantial $100 million. This fund is earmarked to incentivize developers who create products and tools that bolster the Soroban platform. “Sorobanathon: First Light” is a dynamic incentive program that encourages developers to actively engage with Soroban. It invites developers to test the platform, provide feedback, and contribute by creating valuable Soroban-related content, such as tutorials and code examples. This collaborative effort is set to propel Soroban and Stellar to new heights, advancing the adoption and utility of smart contracts in the blockchain space.

How to create Stellar Smart Contracts using Soroban

Creating Stellar smart contracts using Soroban is a straightforward process, thanks to the platform’s user-friendly design and compatibility with the Stellar network. Here’s a step-by-step guide on how to create Stellar smart contracts using Soroban:

Prerequisites:

• Ensure that you have a basic understanding of smart contracts and the Stellar network.
• Set up a development environment with the required tools, including a code editor and the Stellar SDK in your preferred programming language.

Step 1: Access the Soroban Platform

To get started, access the Soroban platform on the Stellar network, which is now live on Futurenet.

Step 2: Download the Rust-Based Code

Soroban is built on Rust, and its code is available for download. Retrieve the codebase from the official Soroban repository or source.

Step 3: Develop Your Smart Contract

Begin coding your Stellar smart contract using the Rust-based Soroban code. You can use a code editor or integrated development environment (IDE) of your choice for this purpose. Define the contract’s conditions and constraints according to your use case. You may refer to existing examples and documentation for guidance.

Step 4: Testing on Soroban Fiddle

For testing and debugging your smart contract, Soroban offers a dedicated environment known as “Soroban Fiddle.” This testing environment allows you to simulate the execution of your contract without impacting the live network. Use Soroban Fiddle to ensure your contract functions as intended and address any issues.

Step 5: Deployment on Stellar Testnet

Before deploying your smart contract to the mainnet, it’s crucial to test it on the Stellar testnet. This step ensures that your contract behaves as expected in a real-world setting. You’ll need to create a Stellar account on the testnet and fund it with test XLM.

Step 6: Deployment on Mainnet

Once you are satisfied with the performance of your smart contract on the testnet, you can proceed to deploy it on the Stellar mainnet. Ensure that you have a Stellar account with XLM to cover the associated transaction fees. Deploying your contract to the mainnet makes it accessible to a broader audience.

Step 7: Monitor and Maintain

After deployment, it’s important to continually monitor and maintain your smart contract to ensure its reliability and security. Utilize Stellar monitoring and analytics tools to track its performance and user interactions.

Step 8: Engagement with Soroban Community

Consider engaging with the Soroban community, sharing your experiences, and seeking assistance or guidance from other developers. The community can provide valuable insights and support for your smart contract projects.

Testing and Debugging Stellar Smart Contracts

Testing and validating smart contracts are pivotal stages in the development process. These steps are of paramount importance because smart contracts, once deployed on the blockchain, are permanent and immutable. Therefore, any bugs or issues need to be identified and resolved before deployment to avoid potentially serious consequences.

To facilitate this, Integrated Development Environments (IDEs) like Stellar Laboratory offer a valuable feature—an in-built simulator that allows developers to test contracts locally before they go live. This simulator lets developers create and explore different scenarios and conditions to ensure that the contract performs precisely as intended. What’s more, any coding errors can be swiftly addressed without impacting the live Stellar network.

After resolving any issues, developers can further test their contracts on the test networks provided by these IDEs. These test networks emulate the real Stellar network but utilize simulated or “fake” assets. Contracts deployed on the test network can undergo comprehensive testing and monitoring without any associated risks. This controlled testing environment allows developers to gain confidence in the contract’s performance before moving forward with deployment on the actual Stellar network.

However, the process of ensuring the reliability of smart contracts doesn’t conclude with deployment. Continuous post-deployment monitoring remains essential. This ongoing vigilance helps identify and address any unforeseen issues and vulnerabilities. Regular updates and maintenance are crucial to ensuring that smart contracts continue to function reliably and securely. In sum, effective testing and validation are not only risk-mitigation measures but also critical for enhancing the overall trustworthiness of smart contracts and the blockchain technology they represent.

Security and Auditing of Stellar Smart Contracts

The security and auditing of Stellar smart contracts are paramount considerations in the development and deployment process. These measures are essential to identify vulnerabilities and enhance the overall robustness of smart contracts, safeguarding them against potential threats.

Security audits are instrumental in scrutinizing contracts for vulnerabilities, such as overflow errors that could be exploited to siphon off funds. These audits entail a meticulous examination of the contract’s code by independent experts who are well-versed in security best practices. The auditors identify flaws and issues, providing valuable recommendations for improvement. Subsequently, developers can address the identified vulnerabilities, bolstering the contract’s security. Deploying updated and fortified code is a crucial step toward minimizing risks and fortifying the contract’s integrity.

In addition to external audits, Stellar’s architecture includes built-in security features that further fortify smart contracts. Account thresholds, for instance, mandate the approval of multiple signers for transactions, making it exceedingly challenging for malicious actors to compromise and pilfer funds, even if one signer’s keys are compromised. This multi-layered security approach provides an additional line of defense against potential threats.

Moreover, the Stellar network incorporates in-built transaction limits and reserve requirements, serving as protective measures against spam and unstable operations. These limits deter malicious activities and ensure the stability and reliability of the network, contributing to a safer environment for smart contracts to operate within. The combination of external security audits and Stellar’s native security features equip smart contracts with a comprehensive shield against vulnerabilities and malicious actions, making them a secure and reliable means of automating and executing agreements.

How IdeaUsher can help

Idea Usher presents an innovative approach to the realm of Stellar smart contract creation. With our cutting-edge Blockchain and Smart Contract Development Services, we offer more than just technology – we provide customized solutions crafted to facilitate your journey in crafting Stellar smart contracts. Our dedicated team of experts is committed to building intelligent, user-centric platforms that elevate user experiences, streamline operations, and position your smart contracts at the forefront of the blockchain landscape. 

Click ‘Contact Us’ below to schedule a complimentary consultation and embark on your journey to creating Stellar smart contracts today.

Contact Idea Usher 

Conclusion

In conclusion, delving into the realm of Stellar smart contracts with Soroban represents a promising leap forward in blockchain technology. By leveraging the capabilities of the Stellar network and the intuitive features of Soroban, you can enter a world of automated agreements, heightened transparency, and boundless opportunities within decentralized finance. In this ever-evolving blockchain landscape, the ability to create and deploy smart contracts on Stellar via Soroban invites innovation and efficiency, reshaping the way we engage, transact, and collaborate in the digital era.

FAQs

Q. What are Stellar Smart Contracts, and why are they valuable?

A. Stellar Smart Contracts are self-executing agreements that automatically enforce the terms of a contract when predefined conditions are met. They are valuable because they streamline and automate various processes, reducing the need for intermediaries, increasing transparency, and enhancing the security of transactions on the Stellar network.

Q. What programming language is used to create Stellar Smart Contracts with Soroban?

A. Stellar Smart Contracts developed using Soroban are primarily written in Rust, a popular systems programming language. The use of Rust ensures high performance and security, making it well-suited for creating smart contracts on the Stellar network.

Q. Can I test my Stellar Smart Contract before deploying it to the mainnet?

A. Yes, you can test your Stellar Smart Contract on the Stellar testnet before deploying it to the mainnet. Testing on the testnet allows you to identify and resolve any issues or errors and ensure that your smart contract functions as expected in a risk-free environment.

Q. How do I access Soroban Fiddle to test my smart contract?

A. To access Soroban Fiddle, the testing environment for Soroban, visit the Soroban platform on the Stellar network. Soroban Fiddle allows you to simulate the execution of your smart contract without affecting the live network, making it a valuable tool for testing and debugging.