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Multi-Level Staking Smart Contract on Ethereum with Solidity Introduction to Multi-Level Staking Smart Contract DevelopmentCreating a multi-level staking contract on Ethereum using smart contract development opens up exciting possibilities for decentralized finance projects by enabling layered rewards and incentives for users. Using Solidity, Ethereum's native programming language, developers can build secure and scalable staking solutions that allow participants to earn rewards based on their staking levels. In this guide, we'll walk through the process of developing a multi-level staking contract, covering everything from setup to implementation, so you can leverage Ethereum's blockchain for advanced staking functionality.In this article, we will discuss the basics of staking contracts, and the characteristics of multi-level staking contracts.PrerequisitesFamiliarity with Solidity and the ERC-20 token standard.Understanding of concepts like staking.An ERC-20 token contract deployed on the same network where you'll deploy this staking contract.Familiar with Remix IDEYou may also like | Creating a Token Vesting Contract on Solana BlockchainWhat is StakingTo maintain the security of a blockchain network, confirm transactions, and generate rewards, cryptocurrency holders stake or lock up their assets. Staking, particularly on Proof-of-Stake (PoS) blockchains and their variations, entails actively taking part in the network's functioning as opposed to conventional bank savings or investments.Multi-level stakingMulti-level staking is an advanced staking model where users can earn different levels of rewards based on various criteria, such as the amount of assets they stake or the duration they choose to lock their funds.Also, Explore | How to Implement a Merkle Tree for Secure Data VerificationMulti-Level Staking Contract on Ethereum Using Solidity// SPDX-License-Identifier: UNLICENSED pragma solidity ^0.8.24; interface ERC20 { function transferFrom(address sender, address recipient, uint256 amount) external returns (bool); function transfer(address recipient, uint256 amount) external returns (bool); } contract MultiLevelStaking { struct Stake { uint256 amount; uint256 startTime; uint256 level; } mapping(address => Stake[]) public stakes; mapping(uint256 => uint256) public rewardRates; uint256 constant LEVEL_ONE_MIN = 10 * 10**18; uint256 constant LEVEL_TWO_MIN = 20 * 10**18; uint256 constant LEVEL_THREE_MIN = 50 * 10**18; address public tokenAddress; constructor(address _tokenAddress) { tokenAddress = _tokenAddress; rewardRates[1] = 5; rewardRates[2] = 10; rewardRates[3] = 15; } function stake(uint256 amount) public { require(amount > 0, "Amount should be greater than 0"); require(ERC20(tokenAddress).transferFrom(msg.sender, address(this), amount), "Transfer failed"); uint256 level = getStakeLevel(amount); // Add new stake to the user's array of stakes stakes[msg.sender].push(Stake({ amount: amount, startTime: block.timestamp, level: level })); } function getStakeLevel(uint256 amount) internal pure returns (uint256) { if (amount >= LEVEL_THREE_MIN) { return 3; } else if (amount >= LEVEL_TWO_MIN) { return 2; } else if (amount >= LEVEL_ONE_MIN) { return 1; } return 0; } function calculateReward(address staker) public view returns (uint256) { Stake[] memory userStakes = stakes[staker]; require(userStakes.length > 0, "No active stakes"); uint256 totalReward = 0; for (uint256 i = 0; i < userStakes.length; i++) { Stake memory stakeInfo = userStakes[i]; uint256 stakingDuration = block.timestamp - stakeInfo.startTime; uint256 rate = rewardRates[stakeInfo.level]; uint256 reward = (stakeInfo.amount * rate * stakingDuration) / (365 days * 100); totalReward += reward; } return totalReward; } function unstakeAll() public { Stake[] memory userStakes = stakes[msg.sender]; require(userStakes.length > 0, "No active stakes"); uint256 totalAmount = 0; // Loop through each stake, calculate reward, and add to total amount for (uint256 i = 0; i < userStakes.length; i++) { uint256 reward = calculateSingleStakeReward(userStakes[i]); totalAmount += userStakes[i].amount + reward; } // Clear all stakes for the user delete stakes[msg.sender]; // Transfer the total amount back to the user require(ERC20(tokenAddress).transfer(msg.sender, totalAmount), "Transfer failed"); } function unstake(uint256 index) public { require(index < stakes[msg.sender].length, "Invalid index"); Stake memory stakeInfo = stakes[msg.sender][index]; uint256 reward = calculateSingleStakeReward(stakeInfo); uint256 totalAmount = stakeInfo.amount + reward; // Remove the stake from the array by swapping and popping stakes[msg.sender][index] = stakes[msg.sender][stakes[msg.sender].length - 1]; stakes[msg.sender].pop(); // Transfer the unstaked amount plus reward back to the user require(ERC20(tokenAddress).transfer(msg.sender, totalAmount), "Transfer failed"); } function calculateSingleStakeReward(Stake memory stakeInfo) internal view returns (uint256) { uint256 stakingDuration = block.timestamp - stakeInfo.startTime; uint256 rate = rewardRates[stakeInfo.level]; return (stakeInfo.amount * rate * stakingDuration) / (365 days * 100); } }Also, Read | Smart Contract Upgradability | Proxy Patterns in SolidityExplanation of the Each FunctionConstructorThe Constructor Initializes the contract with the token address and sets reward rates for each staking level.constructor(address _tokenAddress) { tokenAddress = _tokenAddress; rewardRates[1] = 5; rewardRates[2] = 10; rewardRates[3] = 15; }StakeThe stake function allows users to stake a specified amount of tokens, recording the staking level, amount, and start time.function stake(uint256 amount) public { require(amount > 0, "Amount should be greater than 0"); require(ERC20(tokenAddress).transferFrom(msg.sender, address(this), amount), "Transfer failed"); uint256 level = getStakeLevel(amount); stakes[msg.sender].push(Stake({ amount: amount, startTime: block.timestamp, level: level })); }calculateRewardThis method calculates the total rewards earned for all stakes of a particular user and returns the rewards.function calculateReward(address staker) public view returns (uint256) { Stake[] memory userStakes = stakes[staker]; require(userStakes.length > 0, "No active stakes"); uint256 totalReward = 0; for (uint256 i = 0; i < userStakes.length; i++) { Stake memory stakeInfo = userStakes[i]; uint256 stakingDuration = block.timestamp - stakeInfo.startTime; uint256 rate = rewardRates[stakeInfo.level]; uint256 reward = (stakeInfo.amount * rate * stakingDuration) / (365 days * 100); totalReward += reward; } return totalReward; }unstakeAllThe unstake all function allows a user to unstake all of their stakes and receive the total staked amount plus all rewards.function unstakeAll() public { Stake[] memory userStakes = stakes[msg.sender]; require(userStakes.length > 0, "No active stakes"); uint256 totalAmount = 0; for (uint256 i = 0; i < userStakes.length; i++) { uint256 reward = calculateSingleStakeReward(userStakes[i]); totalAmount += userStakes[i].amount + reward; } delete stakes[msg.sender]; require(ERC20(tokenAddress).transfer(msg.sender, totalAmount), "Transfer failed"); }unstakeThe unstake function allows users to unstake a specific stake by index and receive the principal plus rewards for that specific stake.function unstake(uint256 index) public { require(index < stakes[msg.sender].length, "Invalid index"); Stake memory stakeInfo = stakes[msg.sender][index]; uint256 reward = calculateSingleStakeReward(stakeInfo); uint256 totalAmount = stakeInfo.amount + reward; stakes[msg.sender][index] = stakes[msg.sender][stakes[msg.sender].length - 1]; stakes[msg.sender].pop(); require(ERC20(tokenAddress).transfer(msg.sender, totalAmount), "Transfer failed"); }Also, Explore | How to Write and Deploy Modular Smart ContractsSteps to Create and Deploy on RemixGo to Remix IDE, which is a browser-based Solidity development environment.In the Remix IDE, create a new file under the contracts folder. Name it MultiLevelStaking.sol.Paste the MultiLevelStaking Solidity contract code into this file.Set the compiler version to 0.8.24Click the Compile MultiLevelStaking.sol button.Go to the "Deploy & Run Transactions" tab.Set Environment to Injected Web3 to deploy using MetaMaskIn the Deploy section, input the constructor argument:_tokenAddress: Address of the ERC-20 token contract that users will be staking.Click Deploy, and MetaMask will prompt you to confirm the transaction. Confirm and pay for the gas fee.Verify Deployment:After deployment, the contract instance will appear under the Deployed Contracts section in Remix.ConclusionBuilding a multi-level staking contract on Ethereum with Solidity allows you to harness the power of decentralized finance while providing enhanced incentives for your users. With layered rewards and flexible staking options, these contracts not only boost user engagement but also promote long-term participation in your ecosystem. By implementing a secure and scalable staking model, you're positioned to offer a competitive, feature-rich staking solution that can adapt as the DeFi landscape continues to evolve. Now, you're equipped to launch a robust staking contract that meets the needs of today's crypto users. If you are looking to create crypto-staking solutions, connect with our skilled crypto/token developers to get started.

Technology: Web3.js , SOLIDITY more Category: Blockchain

Rahul Maurya

29 Oct 2024

How to Implement a Merkle Tree for Secure Data Verification What is a Merkle Tree?A Merkle Tree is a binary tree structure where each node contains a hash. Leaf nodes hold hashes of individual data blocks, while non-leaf nodes contain hashes formed by combining the hashes of their children. The Merkle root is at the top of the tree, a single hash representing the entire dataset's integrity. For more related to blockchain and smart contracts, visit our smart contract development services.To illustrate, a simple Merkle Tree with four transactions (A, B, C, D) might look like this: Root / \ HashAB HashCD / \ / \ HashA HashB HashC HashD Each leaf node (HashA, HashB, etc.) is derived from hashing individual transactions.Each non-leaf node is derived by hashing the concatenated values of its child nodes.The Merkle root is the final hash, summarizing the entire tree.Merkle Trees are widely used in blockchain, where they help prove data integrity without requiring all data to be present.You may also like | How to Write and Deploy Modular Smart ContractsWhy Use a Merkle Tree in Blockchain?Merkle Trees play a fundamental role in blockchain networks. They offer several advantages:Efficient Verification: Verifying data integrity can be done by checking only a subset of hashes rather than the whole dataset.Data Privacy: With a Merkle Tree, individual blocks or transactions can be verified without revealing their content.Efficient Storage: Only the Merkle root needs to be stored on-chain, reducing storage requirements.Also, Read | ERC 4337 : Account Abstraction for Ethereum Smart Contract WalletsImplementing a Merkle Tree in SolidityLet's dive into a Solidity implementation. In this example, we'll create a simple Merkle Tree contract where users can verify whether a specific data entry is part of a dataset represented by a Merkle root.Step 1: Setting Up the ContractWe'll start by defining a contract and importing OpenZeppelin's MerkleProof library, which provides helper functions for verifying proofs.// SPDX-License-Identifier: MIT pragma solidity ^0.8.0; import "@openzeppelin/contracts/utils/cryptography/MerkleProof.sol"; contract MerkleTreeExample { bytes32 public merkleRoot; constructor(bytes32 _root) { merkleRoot = _root; } function verify(bytes32[] memory proof, bytes32 leaf) public view returns (bool) { return MerkleProof.verify(proof, merkleRoot, leaf); } }Merkle Root: The contract stores a merkleRoot, which represents the root hash of the Merkle Tree.Constructor: When deploying the contract, we pass a merkleRoot representing the tree's top-level hash.Verify Function: The verify function takes a proof (array of sibling hashes) and a leaf node. It then uses OpenZeppelin MerkleProof.verify to check if the leaf is part of the Merkle Tree represented by merkleRoot.Also, Explore | How to Create Play-to-Earn Gaming Smart ContractsStep 2: Generating ProofsA Merkle proof is required to verify that a data block is in the tree. A Merkle proof is an array of hashes that helps trace a path from a leaf to the root. Off-chain tools or scripts are typically used to generate Merkle proofs. Here's an example in JavaScript for generating a proof:const { MerkleTree } = require('merkletreejs'); const keccak256 = require('keccak256'); // Sample data const leaves = ['A', 'B', 'C', 'D'].map(x => keccak256(x)); const tree = new MerkleTree(leaves, keccak256, { sortPairs: true }); const root = tree.getRoot().toString('hex'); // Get proof for leaf 'A' const leaf = keccak256('A'); const proof = tree.getProof(leaf).map(x => x.data.toString('hex')); console.log("Merkle Root:", root); console.log("Proof for 'A':", proof); Also, Read | How to Create a Smart Contract for Lottery SystemStep 3: Verifying Proofs On-ChainOnce a Merkle proof is generated, it can be passed to our Solidity contract to verify membership. The verify function will only return true if the proof successfully traces the leaf to the Merkle root.Here's how it works:Input: Pass the proof (array of sibling hashes) and leaf (hash of data block) to the verify function.Result: The function returns true if the leaf can be traced to the merkleRoot using the proof, confirming that the data is part of the tree.Example ScenarioImagine you want to verify whether a transaction 0xabc123... is part of a dataset. Here's how it would look on-chain:Generate a proof for 0xabc123... off-chain.Call verify(proof, leaf) on the contract with the proof and leaf.The function returns true if the transaction is part of the dataset.Practical Use CasesMerkle Trees are powerful tools in various blockchain applications:Token Airdrops: Use a Merkle Tree to verify wallet eligibility for an airdrop without storing the entire list on-chain.Zero-Knowledge Proofs: Efficiently verify membership in a set while preserving privacy.File Storage Verification: Services like IPFS can use Merkle Trees to prove that file chunks haven't been tampered with.Voting Systems: Merkle Trees can validate votes securely without disclosing vote details, ensuring privacy.Also, Check | How to Create a Smart Contract for Lottery SystemConclusionIn conclusion, Merkle Trees are indispensable in blockchain technology, providing efficient and secure ways to verify data integrity without storing or revealing entire datasets. By hashing and organizing data into a tree structure, they allow users to verify specific data entries with minimal storage requirements and strong cryptographic security. This makes them ideal for diverse applications, such as token airdrops, file storage verification, and privacy-preserving voting systems. Implementing Merkle Trees in Solidity enables seamless on-chain data verification, enhancing trust and security within decentralized ecosystems. If you have a blockchain-powered vision that you want to bring into reality, connect with our skilled solidity developers to get started.

Technology: REMIX IDE , UNISWAP more Category: Blockchain

Deepak Thakur

29 Oct 2024

Smart Contract Upgradability | Proxy Patterns in Solidity Once deployed, smart contracts cannot be changed or tampered with since they are immutable. However, a contemporary method of smart contract development that can be upgraded is the Ethereum blockchain's Universal Upgradeable Proxy Standard (UUPS). By making the upgrading process easier and improving gas efficiency, it overcomes some drawbacks of earlier proxy patterns, most notably the Transparent Proxy Pattern.UUPS consists of two main components: theproxy andimplementation contracts.Smart Contract Upgradability | Proxy Patterns in Soliditya)Proxy ContractMaintains a specific storage slot for the address of the implementation contract.Users interact with the proxy rather than the implementation directly. This ensures that state and logic remain consistent across upgradesb) Implementation Contract`When deploying a UUPS setup, it's essential to initialize the implementation through the proxy to ensure that state variables are stored correctly in the proxy's storage rather than in the implementation's storage, which is essential for maintaining the integrity and upgradeability of the contract.All the versions of the implementation contract share the same storage space so that`s why sequencing matters while initializing variables.In the UUPS pattern, constructors are generally not used due to the proxy design.Reasons for Not Using ConstructorsStorage SeparationThe implementation contract does not directly manage state variables; instead, these variables are stored in the proxy's storage. Since constructors are executed during contract deployment and would initialize state variables in the implementation contract, using them wouldlead to incorrect storage allocation and could result in state variables being stored in the implementation rather than the proxy.Also, Check | How to Create a Simple Supply Chain Smart ContractInitialization FunctionThese contracts utilize an initializer function that is called after deployment. This function is designed to set up state variables and can include security mechanisms to ensure it is only called once, preventing re-initialization attacks.// SPDX-License-Identifier: MIT pragma solidity 0.8.28; import "@openzeppelin/contracts-upgradeable/proxy/utils/Initializable.sol"; import "@openzeppelin/contracts-upgradeable/token/ERC20/ERC20Upgradeable.sol"; import "@openzeppelin/contracts-upgradeable/access/OwnableUpgradeable.sol"; import "@openzeppelin/contracts-upgradeable/proxy/utils/UUPSUpgradeable.sol"; contract Version1 is Initializable, ERC20Upgradeable, UUPSUpgradeable, OwnableUpgradeable { uint256 public value; // Initializer function to replace constructor function initialize() public initializer { __ERC20_init("Mars", "MARS"); __Ownable_init(_msgSender()); // Pass the owner address here value = 5; __UUPSUpgradeable_init(); _mint(msg.sender, 10000000 * 10 ** decimals()); } // Upgradeable authorization for upgrades (only owner can upgrade) function _authorizeUpgrade( address newImplementation ) internal override onlyOwner {} function getValue() public view returns (uint256) { return value; } } contract Version2 is Version1 { function version() public pure returns (string memory) { return "V2"; } } contract Version3 is Version1 { function version() public pure returns (string memory) { return "V3"; } }For the above contract we are upgrading the contract versions from "V`1" to "V3", below are the test cases for the proxy contract.Also, Explore | How to Write and Deploy Modular Smart Contractsconst { loadFixture, } = require("@nomicfoundation/hardhat-toolbox/network-helpers"); const hardhat = require("hardhat"); const assert = require("assert"); describe("Proxy", function () { describe("Deployment", async function () { async function deployOneYearLockFixture() { const contract = await hardhat.ethers.getContractFactory("Version1"); const contractVersion2 = await hardhat.ethers.getContractFactory("Version2"); const contractVersion3 = await hardhat.ethers.getContractFactory("Version3"); const proxyContract = await hardhat.upgrades.deployProxy(contract, { kind: "uups" }) return { proxyContract, contractVersion3, contractVersion2 } } describe("Versions", function () { it("Should set the right output", async function () { const { contractVersion3, proxyContract, contractVersion2 } = await loadFixture(deployOneYearLockFixture); assert(await proxyContract.name() == 'Mars') assert(await proxyContract.getValue() == 5n) const contractV2 = await hardhat.upgrades.upgradeProxy(proxyContract, contractVersion2) assert(await contractV2.getValue() == 5n) assert(await contractV2.version() == 'V2') const contractV3 = await hardhat.upgrades.upgradeProxy(proxyContract, contractVersion3) assert(await contractV3.getValue() == 5n) assert(await contractV3.version() == 'V3') }); }); }) })Use the following command to run and verify the test cases for the proxy contract - npx hardhat testAlso, Read | How to Create Play-to-Earn Gaming Smart ContractsConclusionIn conclusion, the Universal Upgradeable Proxy Standard (UUPS) provides a robust framework for developing upgradeable smart contracts on Ethereum. By leveraging a proxy architecture that separates logic from state, it allows for efficient upgrades while maintaining critical aspects of security and decentralization inherent to blockchain technology. As smart contract developers continue to navigate the complexities of smart contract deployment and management, UUPS stands out as a preferred method for ensuring that decentralized applications can evolve over time without compromising their foundational integrity.

Technology: TAILWIND CSS , REDIS more Category: Blockchain

Sarthak Saxena

29 Oct 2024

Blockchain Smart Contracts for Efficient Contract Management In this article, we explore the potential of blockchain smart contract solutions for contract management. Blockchain smart contract solutions enable businesses to establish new infrastructure and streamline their operations and processes. Entering in any type of contract with a person or company you haven't met is always challenging. For instance, due to trust issues, people don't become an investor in a company established in a foreign country or agree to lend money to a stranger. Also, it requires a significant investment to set up necessary legal contracts to secure your transactions. As a result, we either don't enter into such a contract or avail services of trusted intermediaries. However, the latter requires substantial settlement fees for providing services. Here, the use of blockchain smart contracts can formalize transactions between people and institutions as well as the assets they own. Blockchain Smart Contracts Blockchain smart contracts provide a solution by formalizing relationships between people and institutions and the assets they own over the Internet. They do it by establishing a P2P system that doesn't require trusted intermediaries. While smart contracts are not new, the use of blockchain acts as the catalyst for smart contract implementation. Blockchain is a decentralized ledger that follows the principles of a peer-to-peer network. It augments business processes by providing transparency, security, and immutability. All these features can effectively improve various business processes, including contract management solutions as well. Traditional Contract Management Businesses use software solutions equipped with tools and techniques to manage the lifecycle of contracts to ensure efficient contract management. A contract management solution manages contracts among employees, partners, and customers to maintain the workflow. Although such contract management solutions prove effective and useful, they provide limited functionality and features when we need to modify, verify, or securely store them. Businesses see contract processing as one of the key hindrances for smooth operations and processes. With no transparency, efficiencies, and security, coordination for managing different activities becomes challenging, such as authoring, negotiations, renewal, enforcement/execution, and more. These activities become time-consuming and costly because of the involvement of various intermediaries and third-parties. Also, the dependency on various external actors makes these activities vulnerable to hacks while enabling various points of failure. Blockchain in Action Blockchain can help change how current contract management solutions work. It can provide businesses a way to master contract management. Contract processing is a significant challenge for businesses, including authoring, negotiations, renewal, enforcement/execution, and renewal. So, can blockchain contract management solutions change and optimize contract processing? Let's explore. Use of Smart Contracts One of the profound applications of blockchain is the smart contract. A smart contract enables network automation and turns paper contracts into robust, immutable, transparent, and efficient digital contracts. We can refer to smart contracts as legal codes that carry the similar legality of a paper contract. For instance, at Oodles, our blockchain smart contract development services can enable smart contract solutions that bring only two parties into play. When both parties agree to the terms of the contract, it is executed, making everything official. As smart contracts are computer codes, they can automate various contract-based processes. For instance, one party can get a loan from another party, while the smart contract will store the loan amount, the interest rate, and other conditions of the loan. Further, a smart contract can trigger various manual conditional actions. It means, if one party has cleared the loan, the contract will self-close while also informing all the parties involved in the smart contract. It was Etereum that proposed the idea of using smart contracts with second-generation blockchain applications for additional efficiency and transparency. Blockchain Smart Contract-Based Contract Management | Benefits No Intermediary or Third-party Dependence There is no need for contracts to rely on mediators for their execution with blockchain-powered contract management solutions. They can enable information among the parties regarding the contract, which can be related to a transaction or any part of the contract. Also, they do not put any restriction on the numbers of parties o_r peers that can communicate with each other. It eliminates waiting time for contracts for processing and. Generally, a contract gets stuck due to the unavailability of either party in traditional settings. With smart contracts powered contract management solutions, the chances of such scenarios are negligible. Additionally, the elimination of intermediaries ensures faster transactions and fewer manipulations. Verifiable and Accurate Businesses can use blockchain smart contracts for a verifiable and accurate representation of transactions executed on the network. A contract management solution on the blockchain platform means verifiable and accurate information for all involved parties. Essentially, it provides a full-proof medium to manage all the data and contracts, which involved parties can verify for authenticity. Additionally, blockchain's immutability means that the data is always accurate. Once you have executed the contract, it cannot be modified. However, it can be modified with the right authentication. Efficient and Cost-saving Blockchain for CMS can make it more efficient and cost-saving. Blockchain smart contracts can enable automation to save both time and cost related to contract management. Upgraded Security and Information Reinforcements Blockchain solutions use cryptography to ensure the security of agreements, the investment, and other key data that should be kept secure. Further, smart contracts offer appropriate security and function well with contract management solutions. It additionally enables engineers to work around the prerequisites and create arrangements that work for the business. Fast Operations Parties need not wait for intermediaries to execute their contracts with blockchain smart contracts for CMS. It is because smart contract solutions involve fool-proof verification procedures. It is due to the fact that blockchain keeps an unalterable, shared record of every other transaction occurring in the network. That being said, previous actions are evidenced and used to validate new ones. It makes the approval process faster and more instant. Conclusion Significantly, the use of blockchain smart contracts for contract management solutions can enable various opportunities as well as optimize the existing ones. The integration of blockchain smart contracts with traditional CMS has the potential to improve the domain drastically. What do you think about both of these emerging technologies for contract management solutions? Let us know in the comments section below.

Technology: PYTHON , RUST more Category: Blockchain

Mudit Kumar

24 Apr 2020

Boost MLM Growth with Blockchain Smart Contract Development In this article, discover two emerging concepts carrying a significant potential to revamp the current paradigm of global businesses. We will take a look at the integration of Multi-Level Marketing (MLM) platform development, cryptocurrency, and smart contracts.We need to understand the basic concepts of smart contract development, MLM, and cryptocurrency before that. MLM Marketing Essentially, MLM operates as an expandable mechanism in which people keep encouraging new members to join for the expansion of operations. In the MLM model, the contribution of every single member and incentive distribution as per their performance becomes essential. Therefore, it is necessary to bridge a connection between end-users and wholesalers as both serve as the base of this business.MLM models are successful as the network expands rapidly while giving leeway for every member of the network to taste success. Now, let's take a look at the types of multi-level marketing. MLM models come in various types which make it easy for enterprises to expand the distribution of products or services by adopting one of its structures like matrix MLM plan, investment MLM plan, uni-level MLM plan, stair-step MLM plan, Australian binary plan, generation MLM plan, binary MLM Plan, broad plan MLM plan, etc. An enterprise must seek the service of a smart contract and cryptocurrency development company that holds expertise in developing both concepts MLM Business | Advantages Adopting an MLM business plan can provide flexibility, cost-effective operation, a good scope of income,no time and place limit, insignificant quantum of risk, high leverage, progressive business model, and diverse models to choose from. If you think MLM is not an efficient marketing model, the integration of smart contracts with cryptocurrency into the structure can completely change your perception. It might surprise you how smart contract solutions development for cryptocurrency-based MLM models eliminates the flaws of the mechanism. Smart Contract Powered MLM MLM emerges as one of the convenient and affordable methods to expand a business as well as its customer reach. The distribution network businesses indispensable functions and tools that enthuse synergy a company's working. The tools and functions also provide more stability for the scalability of business within its respective domain. Smart Contract Integration When we integrate smart contracts solutions into the working of an MLM business structure, it simplifies the selling while making it integral to the perpetual growth of the enterprise. With a peer-to-peer architecture, it generates more assets for the company. When smart contracts are configured into the core of your enterprise, it provides multiple advantages. It eliminates the chances of fraud that most of the wholesalers and end-users are exposed to. The inclusion of smart contracts brings a high level of precision in operations while establishing a strong trusted network. The integration enables automated transactions with authorized techniques. Blockchain Smart Contracts and MLM Smart contracts work according to blockchain's characteristics like immutability, transparency, traceability, and efficiency to maintain anonymity in the transactions. Indeed, blockchain smart contracts enable business owners to review terms and conditions and customize them as per their enterprise needs. It is crucial to hire a blockchain and crypto development company that can make the system as descriptive as possible. PoweringMLM business with blockchain smart contracts eliminates the chances of the scamming of an MLM business. Also, the use of smart contracts empowers all types of MLM business plans. An MLM Platform powered by a smart contract solution excludes the involvement of all third-parties, establishes a peer to peer architecture, provides multiple payment gateways, eliminates malpractices, ensures strengthened data security, fast and secure transactions, effortless traceability, anonymity and transparency, and whatnot. Also, Read |How Smart Contracts Fuel The Blockchain Technology Cryptocurrency and smart contract MLM development company A company that has deft developers who are well-versed with these concepts can bring this efficient business model into realization. Oodles is a cryptocurrency and smart contract development company. We provide first-rate crypto MLM software programs enabled with smart contracts. Additionally, yy adopting an overarching approach, our team ensures that your enterprise gets efficient crypto MLM and smart contract solutions. Our services offer a high level of efficacy to the core structure of an MLM business model. Further, meticulous assessment of your requirements ensures that you get a flawless outcome for perpetual progress. We empower an MLM business with cloud-based solutions, decentralized applications, crypto promotion tactics, cryptocurrency integration, CRM integration, e-commerce integration, e-wallet, multiple payment gateways, safer and faster transactions, fast payouts, end-to-end transparency, bug-free MLM script development, MLM data migration, and more.

Technology: RUST , SOLIDITY more Category: Blockchain

Mudit Kumar

16 Apr 2020

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