Solidity vs ink! for writing smart contracts

Covering the differences and advantages for both when writing smart contracts, as well as an in-depth explanation to ink! and how it stands out.

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What is a Smart Contract?

Smart contracts are self-executing, automated applications that run on a decentralized network such as a blockchain like Edgeware. A smart contract is an agreement between two people in the form of computer code. They run on the blockchain, so they are stored on a public database and cannot be changed. One of the best things about the blockchain is that, because it is a decentralized system that exists between all permitted parties, there’s no need to pay intermediaries (Middlemen) and it saves you time and conflict. Blockchains have their problems, but they are rated, undeniably, faster, cheaper, and more secure than traditional systems, which is why banks and governments are turning to them.

To achieve a better understanding, I’ll provide an example. Let’s imagine that Sarah wants to purchase Kyle’s home. This agreement would be formed on the blockchain using a smart contract. This smart contract contains an agreement between Sarah and Kyle.