Blockchain technology is one of the most exciting developments of the last decade. Its features have the potential to streamline business processes in an unprecedented way. The underlying technology allows systems to automatically interact with each other, log auditable data transactions and even function as a Store of Value.
In the same way that contracts protect business interests in the real world, blockchains deploy an interface called a smart contract when executing a transaction. Its role is to enforce and execute the terms of a contract ensuring fairness and transparency for all parties involved. There are currently many independent businesses developing these smart contract applications with early adoption coming from the gaming industry. This collection of smart contract projects are referred to as decentralized applications (DApps) and are considered a growing market segment.
There have been a number of spectacular hacks of smart contract code, resulting in millions of dollars of losses. No hack was as bad as the Dao Hack on Ethereum where 3.6 million Ether tokens were stolen and forced Ethereum to reboot its network by hard forking it. Hackers were able to exploit errors in their code due to the level of technical expertise required for testing.
Ethereum is currently the largest blockchain, as the majority of new smart contract applications are running on their platform. Success has brought them new challenges, as their development team has struggled and sometimes failed to keep up with the demands of the higher transaction volume. Their seeming lack of urgency during the last 18 months in addressing this, has resulted in a number of newer blockchains rising up to challenge them. Newer blockchains have claimed technical superiority (largely untested), leaving many DApp developers facing a fractured blockchain marketplace.
Trixta is building a unified smart contract platform with simple tools for teams to develop, test, deploy, and monitor smart contracts across multiple blockchains.
Our platform allows us to aggregate a number of third-party technical services into a unified visual layer, lowering the barriers for developers and business people alike.
Starting with custom analytics, we’re then launching tools to build, deploy and test smart contracts. We aim to be the go-to platform and a consolidation layer within the fragmented blockchain world.