One of the most promising developments in blockchain is the use of smart contracts. Smart contracts are self-executing contracts in which the conditions of the agreement between buyer and seller are clearly written into lines of code. The code and the agreements enclosed within are stored across a distributed, decentralized blockchain network. Simply, smart contracts are computerized transaction protocols that execute the terms of a contract.
The probable advantages of smart contracts have seen businesses paying huge attention to smart contract development services. Unfortunately, the big spike in interest has also promoted the growth of some major misconceptions about smart contract development services: what they do, what their products are meant for, and what their products can do?