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Smart Contracts

PreviousPortfolio ManagerNextSwap

Last updated 2 years ago

Our developers are working hard on building custom solutions for every part our platform will incorporate. We understand the importance of developing our own smart contracts:

  • Customization: Developing your own smart contracts allows you to create contracts that are tailored to your specific use case, providing greater flexibility and functionality.

  • Control and ownership: Creating your own smart contracts enables you to have greater control and ownership over the contract, ensuring that it operates in a way that aligns with your business objectives.

  • Cost savings: By creating your own smart contracts, you can potentially save on costs associated with using third-party contracts.

Escrow

One example of a in-house Lumias smart contract is the escrow contract.

An escrow smart contract is a type of self-executing digital contract that holds funds or assets in a secure and transparent manner until certain predefined conditions are met.

An escrow contract is a valuable tool for facilitating trust and reducing the risk of fraud in transactions between parties. By using such a smart contract, users can be confident that their funds or assets are safely held until both parties fulfill their respective obligations, providing a level of security and accountability that traditional methods of payment lack.