Smart contracts are the backbone of Web3. They make digital agreements safe, enable decentralized apps, and automate transactions. But there are so many choices. Which blockchain is ideal for smart contracts?
What are smart contracts?
When certain criteria are met, a smart contract is a digital agreement that automatically carries out. It cuts out the need for middlemen, which saves time and money. In other terms, it lets two individuals trust code instead of people.
For instance, BitLily’s crypto payments API uses a smart contract to make sure that your transaction happens safely on-chain. It keeps track of every step on the blockchain, which makes payments faster, more open, and impossible to change.
Top Blockchains for Smart Contracts
1. Ethereum: The First Network for Smart Contracts
Ethereum is still the blockchain that most people use for smart contracts. It runs thousands of payment platforms and apps. A lot of businesses like it since it’s safe and has a lot of support. With BitLily’s Ethereum payment gateway, you may accept ETH payments directly, which makes integration easy and dependable.
2. Binance Smart Chain (BSC) – Quick and Low Costs
People know that BSC is fast and cheap. It’s useful for firms that have to deal with stablecoin payments or crypto payments across borders because it has cheap transaction fees.
3. Polygon: Works well and can grow
Polygon is a Layer-2 blockchain that makes Ethereum work faster. This is great for businesses who need to process a lot of transactions without slowing down the network. You may quickly handle Polygon-based transactions and transactions from other chains using BitLily’s multi-chain payment processor.
4. Solana—Made for High Performance
Solana is quick and can process thousands of transactions every second. This makes it great for apps that need confirmations right away. It also works well with BitLily’s on-chain payments API, which gives developers more options.
5. Avalanche: Quick, adaptable, and able to work with other systems
Avalanche works with a lot of different programming languages, which makes it easy for developers to add crypto invoicing APIs and stablecoin payout systems to their apps.
How to Choose the Best Blockchain for Smart Contracts
Choosing the right blockchain depends on your priorities:
- Security and adoption: Ethereum
- Speed and affordability: Binance Smart Chain or Polygon
- Scalability and innovation: Solana or Avalanche
You don’t have to stick to just one chain for your business, either. You may connect numerous blockchains at once with BitLily’s decentralized payment platform. This means that you may use one Web3-ready API to accept Bitcoin, Ethereum, USDT, and more.
Get Started with Smart Payments with BitLily!
You can accept Bitcoin, Ethereum, and stablecoins right away with the BitLily Crypto Payments API. No KYC is needed.
đŸ‘‰ Sign up for BitLily today and start building your Web3 payment future.