Overview of Smart Contract: On the Transformers chain, the deployment of smart contracts needs to be written in Solidity language. After deployment, the contract will generate an account that contains two addresses: one is address encoded with base58 and begins with the number 1, which is used for interaction with the Transformers chain. The other one is a 34-byte hexadecimal address, which is only used for interacting with smart contracts, like a regular wallet account, it has a balance and transaction actions, the difference is that the account of the smart contract itself cannot be controlled by anyone, and all its actions (including transactions) can only be controlled by codes. TTOS main network coin transactions use the TTOS address by base58. The address parameters filled in during contract transactions need to use the hexadecimal EVM address Introduction to Smart Contracts A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow trusted transactions and agreements to be performed among disparate, anonymous parties without the need for a central authority. 🎯Features of Smart Contract Formalism: Smart contracts are based on computer code that minimizes language ambiguity and presents a tight logical structure. The content and execution process is transparent and visible to all nodes, which can observe, record, and verify the contract status through a user interface. ☑️Irreversibility: Once the conditions are met, the contract will automatically execute the expected plan. Under the given fact input, the smart contract will inevitably output the correct results and be visualized in the display horizon. ☑️Non-Fungibility: The transaction information on the blockchain is open and transparent. ☑️Anonymity: According to the cryptography principle of asymmetric encryption, zero-knowledge proof, ring signature, and blind signature, transactions on the blockchain are public, but the transaction parties are anonymous. 🎯Advantages of Smart Contracts It eliminates the intermediary and allows users to establish contracts independently based on technology. Transparency and Fairness. The Smart Contract uses code to write the conditions clearly and record them on the blockchain. The whole process is executed by the program. Flexibility. Smart contracts allow users to establish contracts freely, even with strangers globally. In general, smart contracts are one of the core technologies of blockchain, not only playing an executive role in blockchain but also expanding the usage scenarios of the blockchain. Smart contract in Transformers chain The smart contract language used by Transformers chain is Solidity which is an object-oriented high-level programming language. The EVM adopted by Transformers supports most of the features of the Solidity standard and has supported ERC-20, ERC-721, ERC-3525, and other contract standards.
