Smart Contract Development on Tezos Using SmartPy

This comprehensive guide gives you an understanding of smart contract development using SmartPy for the Tezos blockchain.

Smart Contract Development on Tezos Blockchain

The Tezos blockchain stands at the forefront of next-generation blockchain platforms, offering developers a powerful ecosystem for creating decentralized applications (dApps) and smart contracts. With its innovative features and unique governance model, Tezos addresses critical challenges faced by blockchain networks, such as scalability, governance, and upgradability.

Tezos is a blockchain platform using LPoS consensus. Token holders participate in block validation and decision-making. It has self-amending capabilities, reducing the need for hard forks. Michelson, its programming language, enables secure smart contract development. Formal verification mathematically proves a smart contract’s correctness.

Consider that you have a puzzle with detailed directions on how to solve it. Formal verification is the equivalent of double-checking that your solution is correct and that you followed all the directions exactly. It assists in catching any mistakes or blunders you may have made along the route.

Using techniques to make sure smart contracts function properly is known as formal verification. It's similar to having an astute friend verify that the contract is safe and functions as intended. This method lowers the possibility of assaults and monetary losses by assisting developers in removing probable bugs.

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SmartPy for Smart Contract Development

When it comes to developing smart contracts on the Tezos blockchain, SmartPy emerges as a powerful toolset for streamlined and efficient contract development.

• Python-like Syntax: SmartPy uses a syntax similar to Python, making it easy to read and write smart contract code.
• Type Safety: SmartPy enforces strong typing to catch errors and ensure code correctness.
• Interactive Development: SmartPy offers an interactive environment for testing and debugging smart contracts in real-time.
• Contract Simulation: SmartPy allows developers to simulate and test their contracts before deploying them on the Tezos blockchain.
• Formal Verification Support: SmartPy supports formal verification to mathematically prove contract properties and enhance security.
• Comprehensive Documentation: SmartPy provides extensive documentation, tutorials, and API references for developers.
• Tezos Integration: SmartPy seamlessly integrates with the Tezos ecosystem, enabling easy deployment of smart contracts on the Tezos blockchain.

With the easy-to-use online IDE (integrated development environment) offered by SmartPy, you can create and test smart contracts right in your browser.

Link: smartpy.io/ide

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Pre-requisites

• Python
• Browser

import smartpy as sp

@sp.module

def main():

class UpdateValue(sp.Contract):

def __init__(self):

self.data.value = 0

@sp.entrypoint

def update_value(self, new_value):

self.data.value = new_value

@sp.entrypoint

def add_to_value(self, value):

self.data.value += value

1. First, we will import the smartpy library, which is abbreviated as sp.
2. Using the decorator ‘sp.module’, as SmartPy module ‘main’ is defined, a module is a container for contracts and other related components. It allows you to organize and group your contracts together within a module.
3. In the main module, we can see that a smart contract is implemented in SmartPy as a Python class inheriting from sp.Contract. Furthermore, the class has the following methods:

a. __init__(self)

• This is the constructor function of the smart contract’s main class, UpdateValue.
• It initializes the contract’s storage by setting the initial value of self.data.value to 0.

b. update_value(self, new_value)

• This is an entrypoint function called update_value.
• It allows users to update the value stored in the contract’s storage by providing a new value (new_value).
• When called, it sets self.data.value to the new value specified.

c. add_to_value(self, value)

• This is another entrypoint function called add_to_value.
• It allows users to add a specific value (value) to the existing value stored in the contract’s storage.
• When called, it increments the current value in self.data.value by the provided value.

The decorator sp.entrypoint designates the methods as entrypoints, meaning they can be called from outside the contract. Usually, another contract or a human interacting with the blockchain initiates this interaction.

Next, we add a test, defined by the decorator sp.add_test, we can also provide names to our test by passing the name parameter.

@sp.add_test(name=”my first test”)

def test():

scenario = sp.test_scenario(main)

contractInstance = main.UpdateValue()

scenario += contractInstance

contractInstance.update_value(2)

contractInstance.add_to_value(10)

“scenario = sp.test_scenario(main)” creates a scenario,a ‘scenario’ refers to a simulation or test scenario that is defined using the sp.test_scenario() function. It provides a way to simulate the execution of a smart contract and test its behavior in various situations. Then “contractInstance = main.UpdateValue()” instantiates the contract and the following line then adds the contract to the scenario.

We can use the “contractInstance” to invoke the entry points of the contract. Let’s now simulate the contract using the SmartPy online IDE, which shows the findings in an easy-to-use format.

This is the SmartPy IDE where you can play around with your smart contract code. On the left side you you can see the ‘Contract management’ section where you can write your code and on the right side is your ‘output panel’ where all the test results are displayed. To run your code you can either click on the run button located above the Contract management section or use the keys ctrl + Enter ( forwindows/linux) or cmd + Enter (for Mac).

On the output panel, the first one corresponds to the line ”scenario += contractInstance” and looks like this:

The next one represents the first entrypoint call in the test i.e. “contractInstance.update_value(2)” and looks like this:

It shows the parameter passed to entrypoint “update_value” was “2” and current Storage contains the updated value = 2.

The last one represents the last entrypoint call in the test i.e. “contractInstance.add_to_value(10)” and looks like this:

It shows the parameter passed to entrypoint “add_to_value” was “2” and current Storage contains the value = 12.

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Conclusion

With the knowledge of developing and testing smart contracts for the Tezos blockchain using SmartPy, you are well-equipped to start on your journey as a Tezos smart contract developer. SmartPy's user-friendly syntax, many features, and Python-like foundation make it simple to create dependable and secure smart contracts.

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