What is a smart contract and how is it used: examples

Smart contracts are positioned as the next technology, both to know how to use them and to open a range of job possibilities.

In times when companies are “stocking” key personnel and seek to add qualified talent to include them both on your campus and in freelance projects, training becomes essential. In particular, in IT positions, where specialization is essential to face a position.

According to the latest report prepared by the permanent observatory of the Software and Computer Services industry (OPPSSI), at the initiative of CESSI (Chamber of Software and Computer Services Companies), in the country there are 25,000 workers only of the computer industry. And this activity is one of the few “green shoots” a complex year: growth of 20% and average salaries of nearly $ 100,000, a figure that is more than five times the basic of $ 16,875.

One of the most required positions is that of professionals capable of handling “Solidity”. That is, the most used programming language make calls Smart contracts (“smart contracts“, in Spanish) on the decentralized Ethereum network.

It is inspired by other better known ones such as JavaScript, C ++ or Python, which although knowing them would facilitate learning, they are not a necessary condition to work on it.

But what is a “smart contract”?

  • They are executed by themselves, without third parties.
  • That is, its compliance is not subject to the interpretation of either party.: if event A happens, then consequence B will be triggered automatically
  • It is written like a computer program (instead of using a printed document)
  • This makes automatic fulfillment easier.
  • They work with blockchain platform
  • They allow you to do business with strangers in a reliable way and without needing a trusted intermediary

As an example: Maria wants to buy Pedro’s house on credit, in a certain amount of monthly installments. Both resort to a smart contract to program the established terms: Maria will pay the fees every month or else the lock on the house door will lock. And Pedro will give up the title to the property when she’s done. A) Yes, the smart contract will act without the need for intermediaries and carry out those instructions without anyone being able to intervene.

This technology allows us to add business rules to them, request that real world variables be taken into account when generating, for example, hail insurance “, describes Gabriel Kurman, co-founder of RSK, the Argentine P2P platform of IOV Labs that enables the execution of smart contracts, in dialogue with iProUP.

And adds: “Smart management of a company’s treasury can be done depending on different people and different backgrounds. For instance, it is possible to tokenize (create a digital asset) in square meters in Real State. Or promote the era of the Internet of value. ”

Companies require specialized IT talent

Companies require specialized IT talent

What and where to study

Kurman warns that in order to develop a career in the smart contract industry you don’t have to be a programmer.

“You can use them in decentralized finance (DeFi). You can learn to use it without having to program it, but I highly recommend it for the developers because it is a market that will not stop growing in the next decade; there are many online courses that teach programming in Solidity“, he assures.

One of those he mentions is the one they provide from IOV Labs, that it’s called RSK Academy. There, they teach how to create a first smart contract and they can take it so long people who are just starting in the industry as expert programmers. And once you have some knowledge, it is feasible to advance to a frontend developer for Smart Contracts.

“Smart contracts they are not difficult to program. The difficulty may be in security. They are solutions that will run with hundreds of millions of dollarsThat is why it is very important that they are safe. Many people do not create the contract from scratch, but rather they are based on already tested and audited standards of the ecosystem, “he mentions.

For take a course, Udemy is presented as a viable option since he offers to become a Blockchain developer with Ethereum, to learn Solidity, using this program and JavaScript.

Also, there are the courses of Coursera Proyects Networks, to learn to make a smart contract in an hour, as a form of guided course, in Spanish and beginner-oriented.

Alejandro Narancio, Co-founder of Infuy (company specialized in Blockchain), indicates that there are many ways to learn: can be done in a self-taught way or resort to formal education, but being a new language, it is often difficult to have the specialized bibliography.

“Someone who comes from JavaScript may have the easy way out. But you don’t have to have a base. You don’t need to know HTML to understand Solidity, but yes to work with Dapps, “says Narancio. Dapps are decentralized applications that use Blockchain so that users can directly relate to each other and conclude agreements without an intermediary.

“If you want to program a Smart Contract, first you have to decide which language to use and learn certain security issues. This is important because there are attacks that do not exist in traditional systems. There are things that are programmed differently, especially if your target is a blockchain. public, where the user has to pay a cost for your function to run “, recommends Naranjo.

Smart Contracts, what's next

Smart Contracts, what’s next

Work in Smart Contract

Once you have the necessary knowledge, jumping into the world of work is a challenge. More in an industry with highly required talents and where you are looking for the right one.

Blas Briceño, Vice President of CESSI and Coordinator of the areas of Talent Training and Digital Transformation of the Chamber, tells iProUP that the entire platform development market Smart Contracts is in a time of significant growth, accompanying the trend of automate and digitize all types of commercial agreements. Experts even comment that knowing about this topic can help exponentially multiply the salary of a professional in any area.

“In that area, programmers can work designing or developing smart contracts. For that you need skills of a programmer, more knowledge of Blockchain and some crypto platforms, such as Ethereum. Beyond this, to build these projects requires software development, with specificity in deployment and validation, due to the uniqueness of the type of document, “says Briceño.

In addition, it mentions that to enter IT employment it is essential to understand the logic that is linked. “This is not an area that is very developed over time, so initiative is needed to take knowledge on your own and manage ideas autonomously, in addition to learning about the libraries linked to the crypto platform to use “.

Regarding the lawsuits, the expert emphasizes that there is a great talent requirements. Mainly they are looking for: architects, senior developers, technical leaders and data scientists. Also, they need programmers for testing automation, UX designers and applications, machine learning specialists, in robotization in general, RPA and IoT.

Along the same lines, Kurman agrees with Briceño and adds that at this time in the industry there is a strong demand for skilled workers.

This is not going to stop growing. It’s like being a web page programmer in the ’90s. The demand is exponential and anywhere on the planet. We in IOV Labs, we have developers based in Africa, Ukraine, Singapore, Latin America. It is a very safe job opportunity and with international salaries. Of all the types of developers, this is the highest in terms of added value since it enables the construction of solutions that handle hundreds of millions of dollars. It becomes a strategic part“, he concludes.

With a boiling market, combined by a growing popularity in the use of technology applied to almost any sector, professionals who manage to ride this new trend will be able to secure a job future full of opportunities.

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