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How To Deploy Smart Contracts on Neo Blockchain

According to data from NEOscan, a blockchain explorer for the NEO blockchain, as of December 2021, there are approximately 7,000 smart contracts deployed on the NEO blockchain. This number is likely to have increased since then, as the NEO blockchain has seen continued development and adoption.

In this tutorial, we will walk you through the process of deploying a smart contract on the Neo blockchain using the NeoContract compiler and the Neo blockchain explorer. We will also discuss some best practices to keep in mind while writing and deploying your smart contract.

So, if you are a NEO developer looking to get started with smart contracts on the Neo blockchain, this tutorial is for you. Let’s get started!

Introduction to Smart Contract and NEO Blockchain

Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. They provide a secure and transparent way to facilitate, verify, and enforce the negotiation or performance of a contract.

The smart contract code controls the transfer of digital assets between two parties when certain conditions are met. For example, a smart contract could be written to automatically transfer ownership of a house when the buyer sends the agreed-upon amount of cryptocurrency to the seller. The blockchain network then monitors and enforces the transfer, ensuring that the terms of the agreement are met.

Now, what is the Neo Blockchain? The Neo blockchain is a smart contract platform that allows NEO developers to build and deploy decentralized applications (DApps). It uses a unique consensus algorithm called dBFT (delegated Byzantine Fault Tolerance) and is known for its high scalability and fast transaction speeds.

The relationship between smart contracts and the NEO blockchain is a powerful one. Smart contracts are computer programs executed on the NEO blockchain and enable trustless, automated transactions of digital assets. Smart contracts are a key component of NEO's vision of a smart economy by allowing users to exchange digital assets without the need for a trusted third party.

Smart contracts are written using NEO’s smart contract language, called NEOVM, a lightweight, optimized, and easy-to-use language designed specifically for NEO. Smart contracts also enable developers to build decentralized applications (dApps) on the NEO blockchain, which can create various services and applications, from voting systems and financial services to supply chain management and gaming.

Smart Contract Deployment on NEO Blockchain

When deploying a smart contract on the Neo blockchain, there are a few things to consider:

  • First, the Neo blockchain requires that the smart contract is written in one of its supported languages, such as C#, Python, or Java.
  • The smart contract must be compiled into the appropriate bytecode for the Neo blockchain before deployment.
  • It is also important to ensure the contract is secure, as bugs or vulnerabilities can have serious implications.
  • Finally, it is important to note that Neo charges a fee to deploy a smart contract, so be sure to factor this cost into your budget.

Dependencies

  • A NEO node:
    You will need to have access to a NEO node to deploy your smart contract. The node can be run locally or remotely, but it must be accessible from the machine you use to deploy the contract.
  • NEO CLI:
    The NEO Command Line Interface (CLI) is a tool that allows you to interact with the NEO blockchain and deploy smart contracts. To deploy your contract, you will need to install the NEO CLI on your machine.
  • A compiler:
    Smart contracts on the NEO blockchain are written in a programming language called C#. To deploy your contract, you must compile it into a .NET assembly. You can use a tool like the NEO Compiler Plugin for Visual Studio.
  • A wallet:
    You need a NEO wallet to deploy your contract. The wallet contains the private key used to sign the transaction and make it valid on the blockchain.
  • NEO and GAS:
    You will need to have some NEO and GAS in your wallet to pay for the transaction fees associated with deploying the contract.
  • Deployment script:
    You need a deployment script that handles the actual deployment process. This script will use the NEO CLI to interact with the node and deploy the contract

Setting Up The Environment

In the following, which we have tested, it is advised that you use Neo-CLI.

  • Windows 10
  • Ubuntu 16.04/18.04
  • CentOS 7.4/7.6
  • macOS Big Sur/version 11.1

Getting into a network

To build, test, and troubleshoot your programs before posting them on the network system, Neo offers the Test network. Use it to connect your node to the testnet.

Establishing a private chain

There are two ways to set up a private chain, as listed below:

  • Creating a private chain with a single node
    You can create a private chain with just one node due to Neo-functionality for block generation without consensus nodes. There are two possible ways to do this; you are free to select one.
    1. To immediately run the private chain, simply download the Neo-Express project.
    2. Or begin with nothing and create a private chain by one node.
  • Creating a private chain with multiple nodes
    Additionally, you can construct a private chain using multiple nodes to explore the consensus method.

Getting a Wallet Ready

The wallet file is the next thing we need. Let's build a fresh wallet file for smart contract deployment:

  • Copy the standard address into a blank wallet file called 0.json for future usage.
  • Enter the wallet from which you withdrew NEO and GAS from the genesis block. Move all of the wallet’s contents to 0.json while you wait for the payment to be approved.
  • To see if the resources have been received, examine 0.json.

Developing The Contract

It’s now time to code! Below are some further parts you must follow to develop the contract:

Setting up the development environment

First, use the command below to start a contract project called Contract1:

Editing the smart contract

We present a straightforward C# smart contract below. Scroll here to view the source code.

Let’s observe these techniques in the aforementioned example contact:

  • Update:
    This approach makes it possible to upgrade a contract. The contract is improved when executed, but neither the contract hash nor the storage facility is altered.
  • Destroy:
    This function doesn’t accept any input. The contract and all storage associated with it are erased when it is triggered. The contract is then rendered invalid.

Compiling The Contract

Let’s construct it now. To do so, execute the following command:

Deploying The Contract

After compiling a sample contract file (Contract1.nef) and a contract description file (Contract1.manifest.json), we will deploy the contract and invoke it using Neo-CLI.

Enter the deployment script deploy nefFilePath> [manifestFile] in Neo-CLI, for instance:

The contract is deployed when the operation is performed, and the program charges the associated amount.

Invoking The Contract

A smart contract can be accessed by its script hash once implemented on the network. The contract's general information, procedures, notifications, and other details are subject to inquiry.

Use the script in Neo-CLI to invoke the contract:

Ahead of a planned execution, the following details are printed:

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Interfacing through NeoLine Wallet

The blockchain’s smart contracts can communicate with its users through various platforms and devices. In this example, we’ll connect to the chain using the NeoLine addon plugin wallet and display the outcomes in a straightforward user interface.

Installing and Using NeoLine

We now need to set up the NeoLine extension. You can manually download the NeoLine extension plugin wallet to execute the appropriate chain quickly.

After you’ve set up the NeoLine and added it to your browser’s hotkey, build a wallet by following the steps below:

  • Input your wallet name and set up your password.
  • Simply click on “Create,” and it’s all done!

You’ve now successfully deployed a smart contract on the NEO Blockchain. This smart contract can now execute transactions and store data securely and efficiently. With the power of the NEO Blockchain, you can trust that your data is safe, secure, and immutable. This is a major milestone in developing a decentralized application, and you should be proud of your accomplishment.

Why Should You Choose NEO Blockchain for Smart Contract Deployment?

There are several reasons why people may choose to deploy smart contracts on the NEO blockchain:

Security: Smart contracts on the NEO blockchain are secured by the blockchain itself, which makes them tamper-proof and immune to hacking attempts.

Decentralization: Smart contracts on NEO are decentralized, meaning any single entity or group does not control them. This ensures that the terms of the contract are enforced fairly and transparently.

Speed: The NEO blockchain is known for its fast transaction processing speeds, which means smart contracts can be executed quickly and efficiently.

Compatibility: NEO supports multiple programming languages, making it easy for NEO developers to create and deploy smart contracts using the language they are most comfortable with.

Ecosystem: The NEO ecosystem includes a large community of developers and users, making it easy to find resources and support when working with smart contracts on the platform.

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What have we learned so far? A Quick Overview:

Deploying a smart contract on the NEO blockchain is an incredibly powerful way to leverage the blockchain's trustless, decentralized, and immutable nature for your business. Smart contracts provide a secure and reliable platform for executing transactions and managing data, making it an ideal solution for businesses looking to streamline their operations. This article will discuss the steps involved in deploying a smart contract on the NEO blockchain, from setting up your environment to deploying the contract to the network.

The first step in deploying a smart contract on the NEO blockchain is setting up the environment. This includes downloading and installing the NEO client software, downloading and installing the NEO-Compiler environment, and configuring the wallet. Once the environment is set up, the next step is to write and compile the smart contract code. This can be done using a variety of languages, such as C#, Python, and JavaScript, but the most popular language for writing NEO smart contracts is C#. Once the code is written, it needs to be compiled and tested to ensure that it is free of errors and runs as expected.

Once the contract is written and compiled, the next step is to deploy the contract to the network. This can be done by connecting to the NEO network and submitting the contract to the blockchain. This requires the user to have a NEO wallet and some NEO to pay the transaction fees. Once the transaction is submitted to the network, it will be added to the blockchain, and the contract will be available for use.

Deploying a smart contract on the NEO blockchain is an easy and powerful way to leverage the blockchain's trustless, decentralized, and immutable nature for your business. With the right environment, tools, and knowledge, anyone can deploy a smart contract on the NEO blockchain and begin to reap the benefits.

Conclusion

Smart contracts can revolutionize how businesses are run in the future. Smart contracts are digital contracts stored on a blockchain and enforced by computer code. They are secure and transparent and can reduce the cost and time spent on contractual obligations. By implementing smart contracts in the future, businesses can automate processes, streamline operations, and reduce costs. Smart contracts can also provide greater transparency and trust between parties, as the code is visible and incorruptible. In addition, smart contracts can be used to securely store data, making it much more difficult for malicious actors to access sensitive information. As a result, businesses will be able to operate more securely and efficiently, allowing them to focus more on their core objectives.

So we have successfully concluded this article about smart contracts and their deployment on the NEO blockchain. It is clear that smart contracts offer a range of benefits and are a powerful tool for businesses and individuals alike. With NEO's blockchain technology and secure, efficient, and fast transaction process, it is an ideal platform for deploying smart contracts and taking advantage of their capabilities. We hope this article has been informative and helpful in understanding the importance and potential of smart contracts and blockchain technology. Thank you for taking the time to learn more about this exciting technology!

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