Smart contract guide
Contents
Smart contract guide#
Overview#
A smart contract is a contract whose terms are expressed as a computer program with logic and state persisted on the blockchain. Smart contracts can automatically carry out its terms and conditions with total transparency and no counter-party risk.
Smart contracts allow users to extend the capabilities of the Terra blockchain by introducing custom logic that can be composed against the Terra blockchain’s financial primitives. These decentralized applications unlock new avenues of value-transfer through enabling unique transaction flows not provided by Terra’s native modules.
Developer tools#
The following table maps commonly-used Ethereum developer tools to their Terra counterparts.
Terra |
Ethereum |
|
|---|---|---|
Frontend SDK |
Web3.js, Web3py |
|
Browser Extension |
Station CX |
MetaMask, MEW |
Local Testnet |
Ganache |
|
Contract Language |
Solidity, Vyper |
Why build on Terra?#
Robust consensus and fast block finality#
Terra is powered by Tendermint BFT consensus, using a dPoS-like scheme driven by a set of 130 top validators. This efficient consensus model enables batches of transactions to occur in only 6 seconds (only a fraction of the time it takes for Bitcoin and Ethereum).
Ready for DeFi applications#
With fundamental infrastructure such as , on-chain swaps, community governance and automated monetary and fiscal policy, the Terra blockchain acts as its own autonomous sovereign economy driven by its users, and provides all the necessary incentive mechanics and modular plumbing to power modern DeFi smart contracts.