<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs), a new capital-raising tool in the digital financial sector, combine the traditional finance world with blockchain and regulatory compliance. STOs provide digital tokens that can be exchanged for the shares of underlying assets in the future in an encrypted and legally compliant way. They fuse the prospects of cryptocurrency with the essential features of regulation and safeguarding for investors, thus widening the category of investors and establishing a more powerful investment model in the long run. At the same time, STOs have pros and cons, so we offer to discover them in this article.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways " data-text="Security token offering is a regulatory-compliant form of fundraising that offers global capital access and increased liquidity for traditionally illiquid assets. 

STOs operate within securities law, providing a safer option for investors and companies, but also include some risks. 

Studies show that companies conducting STOs have an average return on investment (ROI) of 156% within the first year.">
<div class="form-description-title">Key Takeaways</div>
- Security token offering is a regulatory-compliant form of fundraising that offers global capital access and increased liquidity for traditionally illiquid assets.&nbsp;<br />- STOs operate within securities law, providing a safer option for investors and companies, but also include some risks.&nbsp;<br />- Studies show that companies conducting STOs have an average return on investment (ROI) of 156% within the first year.</div>
<h2 dir="ltr" style="text-align: justify;">Understanding the STOs</h2>
<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs) are an innovative way of raising money that integrates technology and regulatory compliance. STOs are the issuance of digital tokens that are recorded on a blockchain, representing investors' rights to underlying assets or profits. These tokens have been defined as securities and thus attract regulators' scrutiny and adherence to legal frameworks to preserve investors' safety and market integrity.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702549563.png" /></p>
<p dir="ltr" style="text-align: justify;">The principle of the tokenization process applies to a wide range of assets, such as real estate, stocks, bonds, or even artwork. It democratizes access to investment opportunities, increases liquidity, and reduces cost by being an intermediary elimination. Through the blockchain in the tokenization process, transaction integrity and transparency are ensured while fraud and disputes are minimized. The STOs fill the gap between STOs and ICOs since they merge the efficiency and transparency of the blockchain with security. The legal framework that governs STOs is vital because they must comply with the securities law, which ensures transparency, security, and accountability. This compliance covers the registration of the offering with regulatory bodies (like the&nbsp;<a href="https://www.sec.gov/" target="_blank" rel="noopener">SEC</a>), financial and operational disclosure, and conformity with investor protection regulations.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702592099.png" /></p>
<h2 dir="ltr" style="text-align: justify;">The Pros of STOs</h2>
<p dir="ltr" style="text-align: justify;">The emergence of STO as an investment and fundraising tool that specifically meets the needs of both investors and issuers has been the most distinctive alternative for both the conventional and digital ways of funding.</p>
<h3 dir="ltr" style="text-align: justify;">Access to global capital</h3>
<p dir="ltr" style="text-align: justify;">STOs provide an all-the-world access capital toolkit for startups, small-cap, or big business enterprises to tap large capital pools. Unlike classic investment vehicles based on restrictions from the local legislature, STOs allow those residing in different parts of the world to participate in investment.</p>
<p dir="ltr" style="text-align: justify;">Therefore, assets can be traded beyond established borders, determining new markets and lowering financing costs. Investors enjoy enhanced opportunities as a result.</p>
<h3 dir="ltr" style="text-align: justify;">Increased liquidity</h3>
<p dir="ltr" style="text-align: justify;">Through tokenization, there is a possibility of having intangible assets like land and artwork converted into tradable and non-fungible digital assets capable of fractional ownership. This function greatly benefits the liquidity of these assets, making them suitable for selling and buying on the secondary markets. Since the enhanced liquidity can reduce investors' worries about their future obligations and enable them to access better returns quickly, the investments will be equally attractive.</p>
<h3 dir="ltr" style="text-align: justify;">Improved transparency and compliance</h3>
<p dir="ltr" style="text-align: justify;">Blockchain offers wider visibility and higher security. Each transaction is recorded in a register that cannot be changed or tampered with, and all the participants can see. The ledger provides real-time transparency. This, therefore, eliminates the existence of intermediaries, decreases transaction costs, and boosts efficiency. Last but not least, STO is based on the regulatory framework and securities rules, which aim at protecting investors' rights, and the real offer is project-related.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/8-latest-crypto-fundraising-trends-that-shape-2024" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702637547.png" width="100%" height="100%" /><span class="incut--text">Read more about the latest crypto fundraising trends.</span></a></p>
<h3 dir="ltr">Partial ownership</h3>
<p dir="ltr" style="text-align: justify;">STOs disrupt investing in precious assets through fractional ownership. Assets that were once exclusively owned by rich individuals or institutional investors can now be fractionalized and divided into smaller portions, making those assets more affordable to a broader range of investors. The wider-spreading investment opportunities allow small investors to diversify their portfolios while increasing the investor base and injecting new capital into the markets.</p>
<h3 dir="ltr" style="text-align: justify;">Programmable security</h3>
<p dir="ltr" style="text-align: justify;">Programmability is realized in STO by merging&nbsp;<a href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener">smart contracts</a>&nbsp;into tokens and establishing programmable securities. These smart contracts can perform various functions, including dividend distribution, voting rights, and compliance check tasks. This step simplifies operations and minimizes administrative jobs.</p>
<p dir="ltr" style="text-align: justify;">Agilie's specialty in delivering secure and interoperable technology solutions makes us a prominent player in bringing STO to companies aiming to optimize their capacity by utilizing the inherent value of blockchain.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711702811161.png" width="100%" height="100%" /><span class="incut--text">Read more about our blockchain development benefits.</span></a></p>
<p dir="ltr">The benefits are notable, but the disadvantages should also be considered when deciding on a fundraising method.</p>
<h2 dir="ltr" style="text-align: justify;">The Cons of Security Token Offerings</h2>
<p dir="ltr" style="text-align: justify;">STOs use a mix of regulatory compliance and blockchain technology, which facilitates the generation of new drawbacks.</p>
<h3 dir="ltr" style="text-align: justify;">Regulatory Uncertainty</h3>
<p dir="ltr" style="text-align: justify;">The STOs are still observed within the scope of the national laws, as the flexibility of the global securities regulatory system remains a feature. The changeability of the environment might unpredictably add involvedness to STO issuance as the jurisdictions decide to upgrade their outdated laws concerning adopting new technologies. These complexities of this legal density cause more difficulties for global STO projects in drawing foreign investments.</p>
<h3 dir="ltr" style="text-align: justify;">Market Acceptance and Understanding</h3>
<p dir="ltr" style="text-align: justify;">The concept of tokenized securities is very novel, and hence misconceptions and skepticism exist among investors. Contrary to what traditional instruments like stocks, bonds, and derivatives usually do to them, most see STOs as too hard to understand or speculative. This psychological fear further leads to low rates of STO adoption, which then may need more public education and marketing campaigns to increase acceptance and confidence.</p>
<h3 dir="ltr" style="text-align: justify;">Investor Accreditation Limitations</h3>
<p dir="ltr" style="text-align: justify;">Most STOs are designed for accredited or qualified investors since regulatory frameworks govern their operation to protect retail investors from high-risk investments. On the one hand, full compliance and transparency are ensured by this technique. On the other hand, it results in a smaller base of investors, which decreases the campaign's scale and scope.</p>
<h3 dir="ltr" style="text-align: justify;">Expenditures and Burdens of Implementation</h3>
<p dir="ltr" style="text-align: justify;">STOs must comply with all international regulatory requirements, the vast majority of which carry a considerable cost and red tape. The cost for legal advisers, auditors, and compliance platform development can be quite high. Besides this, another thing that needs a lot of adjustment is the strict compliance requirements that often change. Therefore, having experienced professionals and dedicated people is a must.</p>
<h3 dir="ltr" style="text-align: justify;">Technological Risks</h3>
<p dir="ltr" style="text-align: justify;">While blockchain technology offers significant benefits, it has risks. Security vulnerabilities may result in hacking incidents, and the decentralized structure of blockchain makes it difficult to recover assets if a private key is lost. These threats trigger the need for robust security guidelines and disaster recovery plans to reduce the possible damage.</p>
<h3 dir="ltr" style="text-align: justify;">Limited Secondary Market</h3>
<p dir="ltr" style="text-align: justify;">The immature secondary market for trading tokenized securities can limit liquidity and, therefore, diminish the potential attractiveness of STOs to investors. On the one hand, the automaticity of STOs is expected to increase the effectiveness of the secondary market; on the other hand, the reality depends greatly on active and accessible platforms for these tokens.</p>
<p dir="ltr" style="text-align: justify;">Our experience in blockchain development addresses the complexities and uncertainties of STOs.&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">Our team</a>&nbsp;is devoted to making the STO process easy and effective, thereby providing projects that are equipped to meet current regulations and technology for future changes.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711703899290.png" width="100%" height="100%" /><span class="incut--text">Learn more about our blockchain software development services.</span></a></p>
<h2 dir="ltr">Future Outlook&nbsp;</h2>
<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs) are set to evolve as the global financial ecosystem becomes digitized, becoming a key mechanism for capital raising and investment across sectors, offering enhanced liquidity and efficiency, including the following aspects:</p>
<ol style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Regulatory evolution</strong></p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">Regulation for the development of STOs results from realizing that investors' protection, fairness, and credibility are the crucial points of blockchain technology and digital securities.</p>
<ol style="text-align: justify;" start="2">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Technological Advancements</strong></p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">The swiftly burgeoning blockchain technology and security measures take care of STO scalability, transaction speed, and asset management with the advanced compliance mechanisms and asset management introduced by smart contracts.</p>
<ol style="text-align: justify;" start="3">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Sectoral Expansion</strong></p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">STOs were implemented in such sectors as infrastructure, renewable energy, and ownership of intellectual property. Tokenization was used to raise capital, and small investors could diversify their investments through their participation.</p>
<p dir="ltr" style="text-align: justify;">Agilie disrupts clients&rsquo; services by introducing new sectors and investment opportunities to STOs that work best with them.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711703245067.png" width="100%" height="100%" /><span class="incut--text">Our experience and passion create successful projects. Learn more about them.&nbsp;</span></a></p>
<h2 dir="ltr">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Security Token Offerings (STOs) are a new significant step in digital finance, thanks to a combination of blockchain technology and regulatory compliance. Investors gain from global capital access, increased liquidity availability, transparency, and investment democratization. Nevertheless, they need help with regulatory uncertainties, market competitiveness, investor accreditation restrictions, compliance costs, technological risks, and the absence of a secondary market. The delicate balance between innovation and regulation in the world of finance is very important because STOs can change the world of investment.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Agilie, a leading company specializing in blockchain software development, shapes the future of digital finance.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1711703364700.png" width="100%" height="100%" /><span class="incut--text">Contact us and transform the digital finance future.</span></a></p>
<p>&nbsp;</p>

<p>Explore the pros and cons of Security Token Offerings (STOs) and how this innovative fundraising method shapes the future.</p>

Explore the pros and cons of Security Token Offerings (STOs) and how this innovative fundraising method shapes the future.

The Pros and Cons of STO in the Fintech Industry | Agilie

<p dir="ltr" style="text-align: justify;">In a dynamic world of blockchain technologies, Solidity became the first programming language for smart contract creation on blockchain platforms, including the Ethereum platform. Automatic transaction processing, the development of smart contracts, and different applications are the features that highlight the impact of language on blockchains. The flexibility and capability of Solidity certainly cannot be underestimated, but it also has its impasse. An ineffective smart contract design may result in major financial damage, showing the necessity of studying common issues and selecting proven practices to reduce potential risks. This article introduces the complexity of Solidity programming and explains how to prevent frequent errors and obtain reliable, secure, and efficient smart contracts.</p>
<div id="form-description" class="form-description" data-title="key Takeaways " data-text="Solidity offers different tools for decentralized app development.

Developers encounter issues like syntax errors, memory management problems, gas optimization obstacles, etc.

The Solidity community provides documentation, tools, platforms, and new trends in smart contract security.">
<div class="form-description-title">Key Takeaways</div>
- Solidity offers different tools for decentralized app development.&nbsp;<br />- Developers encounter issues like syntax errors, memory management problems, gas optimization obstacles, etc.&nbsp;<br />- The Solidity community provides documentation, tools, platforms, and new trends in smart contract security.</div>
<h2 dir="ltr" style="text-align: justify;">Overview of Solidity Programming Language</h2>
<p dir="ltr" style="text-align: justify;">Solidity is a programming language, among others, for building smart contracts on blockchain frameworks, including&nbsp;<a href="https://ethereum.org/en/" target="_blank" rel="noopener">Ethereum</a>. Solidity allows developers to design decentralized applications (DApps) that run on blockchain technology. Solidity can handle blockchain transactions, smart contract implementation, and automatic processing without centralized authority.</p>
<p dir="ltr" style="text-align: justify;">Its design enables the making of structural contracts for voting, crowdfunding, blind auctions, multi-signature wallets, and many other products. The language provides inheritance, libraries, and complex user-defined types.</p>
<p dir="ltr" style="text-align: justify;">However, Solidity programming has problems that have yet to be solved. In terms of mistakes in smart contracts, the consequences can be rather costly. This underscores the need to know standard Solidity programming issues and apply the principles to prevent them in the heaving line. In the coming section, we will explore some of the typical bugs and guide how to handle the complexities of Solidity programming effectively.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926032118.png" /></p>
<h2 dir="ltr" style="text-align: justify;">Common Issues and How to Avoid Them</h2>
<p dir="ltr" style="text-align: justify;">Solidity programming and writing smart contracts are constantly challenging tasks. Identifying and recognizing common issues and contract vulnerabilities can develop smart contracts&rsquo; dependability, security, and productivity. Let's explore some typical errors and solutions to them.</p>
<h3 dir="ltr" style="text-align: justify;">Syntax Errors and Compile-time Issues</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Some problems with Solidity arise from syntactic and compilation time issues, like incorrect data types, visibility specifiers, or misusing language constructs.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Debugging tools like&nbsp;<a href="https://remix.ethereum.org/#lang=en&amp;optimize=false&amp;runs=200&amp;evmVersion=null&amp;version=soljson-v0.8.24+commit.e11b9ed9.js" target="_blank" rel="noopener">Remix</a>, Truffle, or Hardhat facilitate catching these cracks in the early phases. Code convention and solidity style guide compliance can decrease syntax error quantity. Maintaining the updated status of the Solidity version and syntax deformation are equally important steps.</p>
<h3 dir="ltr" style="text-align: justify;">Null Pointer Exceptions and Runtime Errors</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;In Solidity, as in standard programming languages, runtime errors, including null pointer exceptions, may appear. It can lead to contract failure or inappropriate behavior.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Implement extensive input validation and take advantage of &ldquo;assert,&rdquo; &ldquo;require,&rdquo; and &ldquo;revert&rdquo; conditions for error control at the runtime.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">"Require" is perfect for managing conditions related to input loads and states that the functions run on.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">"Assert " should be applied to cover internal errors and invariant checks. It burns all the gas if the malfunction happens, restraining its deployment.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">"Revert" is an essential utility that will help to create a human-readable message describing what went wrong, causing the operation to fail. It will greatly help debugging and give the users immediate feedback.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Truffle, Hardhat, and OpenZeppelin frameworks supply software developers with an advanced Solidity development environment, including testing, debugging, and deployment tools.</p>
<h3 dir="ltr" style="text-align: justify;">Memory Management Problems</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Incorrect memory and gas storage usage would lead to higher transaction fees or burdens on the contract while performing complex functions and loops.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Understanding the distinction between persistent and temporary memory is necessary for success. Data structures with minimal write memory can positively impact gas costs and contract efficiency.</p>
<h3 dir="ltr" style="text-align: justify;">Contract Security Vulnerabilities</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Common security vulnerabilities entangled in contracts that are not properly audited are integer overflow/underflow, front-running, and reentrance attacks.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Secure patterns (checks-effects-interactions), using the SafeMath library for arithmetic operations, and thorough security scans with tools like&nbsp;<a href="https://mythx.io/" target="_blank" rel="noopener">MythX</a>&nbsp;or Slither can significantly improve the security.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926207432.png" width="100%" height="100%" /><span class="incut--text">Read more about best practices in Solidity programming for secure smart contract design.</span></a></p>
<h3 dir="ltr" style="text-align: justify;">Gas Limit and Out-of-Gas Issues</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;The gas limit exceedance is generally caused by inefficient code and unoptimized cycles.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Smart contract code can be optimized by simplifying logic, minimizing transaction data, and applying gas-saving templates. Regression testing functions with various inputs to calculate gas consumption may assist in forecasting and preventing problems related to gas issues. "Require" statements can be inserted to eliminate redundant code.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;">Smart Contract Upgradability Challenges</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Smart contracts remain unchanged after deployment. Nevertheless, the business logic needs to be updated, complicating the possibility of contract renewal.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Make contracts design with ease and flexibility in protocol, using some universal templates, e.g., proxy contract or diamond standard (<a href="https://eips.ethereum.org/EIPS/eip-2535" target="_blank" rel="noopener">EIP-2535</a>). With this framework, it is possible to modify the contract logic separate from the contract address and the information stored on the blockchain.</p>
<h3 dir="ltr" style="text-align: justify;">Handling External Dependencies</h3>
<p dir="ltr" style="text-align: justify;"><strong>Issue:</strong>&nbsp;Using outsourcing or external services, the system can collapse or become vulnerable if the dependence on these entities fails or is unavailable.</p>
<p dir="ltr" style="text-align: justify;"><strong>Solution:</strong>&nbsp;Ensure that dependencies are reliable and stable. Incorporating circuit breakers or emergency stop buttons can avoid instability and provide a fail-safe mechanism in case of unexpected behavior of an externally dependent tool.</p>
<p dir="ltr" style="text-align: justify;">Staying aware of the newest Solidity editions helps discover better options for error handling that guarantee increased security and efficiency of the smart contract development process.&nbsp;</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com/" target="_blank" rel="noopener">Agilie</a>, a blockchain software company, mainly uses Solidity to provide secure, productive, innovative, and high-quality blockchain solutions. The company's practice confirms the need to invest in robust error handling to create trust, an essential factor for blockchain applications.&nbsp;We are proud of our dedicated professional team that developed high-class products.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926339320.png" width="100%" height="100%" /><span class="incut--text">Learn more about some of our fascinating projects.</span></a></p>
<p dir="ltr" style="text-align: justify;">Nonetheless, even with the most professional implementation, developers sometimes encounter problems requiring additional investigation. In the following section, we shed light on resources that all Solidity developers should have close at hand.</p>
<h2 dir="ltr" style="text-align: justify;">Resources for Troubleshooting Solidity Issues</h2>
<p dir="ltr" style="text-align: justify;">The crucial skills for developers are maintenance and accomplishing tasks. So, we have put together the main resources to help with these tasks.</p>
<h3 dir="ltr" style="text-align: justify;">Official Solidity documentation</h3>
<p dir="ltr" style="text-align: justify;">Any Solidity developer who encounters problems should first consult the&nbsp;<a href="https://docs.soliditylang.org/en/v0.8.24/" target="_blank" rel="noopener">official Solidity documentation</a>. It gives thorough guidance about language syntax, structure, and changes. The documentation segment also presents a section about common mistakes, deflection, and safety concerns, which is necessary for developers who want to write secure code.</p>
<h3 dir="ltr" style="text-align: justify;">Ethereum Stack Exchange</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://ethereum.stackexchange.com/" target="_blank" rel="noopener">Ethereum Stack Exchange</a>&nbsp;is a gold mine of information where developers pose questions and make comments on an array of Solidity issues. It is an active group that brings junior and highly experienced programmers together to seek or provide interesting and complicated solutions.</p>
<h3 dir="ltr" style="text-align: justify;">Solidity GitHub</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://github.com/ethereum/solidity/issues" target="_blank" rel="noopener">Solidity GitHub&nbsp;</a>is the resource where the developers can search past and existing issues for bugs, features, and solutions from the Solidity community.</p>
<h3 dir="ltr" style="text-align: justify;">Remix IDE</h3>
<p dir="ltr" style="text-align: justify;"><a href="https://remix.ethereum.org/#lang=en&amp;optimize=false&amp;runs=200&amp;evmVersion=null&amp;version=soljson-v0.8.24+commit.e11b9ed9.js" target="_blank" rel="noopener">Remix IDE</a>&nbsp;is an online open-source IDE and desktop application that allows the development of Solidity contracts. The feature set includes static analysis that could help identify issues before deployment. The Remix IDE is one of the vital tools for developers whose aim is quick prototyping and debugging smart contracts.</p>
<h3 dir="ltr" style="text-align: justify;">Community forums and the Internet space</h3>
<p dir="ltr" style="text-align: justify;">Platforms such as Reddit, specifically the&nbsp;<a href="https://www.reddit.com/r/ethdev/?rdt=46443" target="_blank" rel="noopener">r/ethdev subreddit</a>, and other online social media make it an ideal place for getting advice, sharing experiences, and staying up to date with the latest solutions and practices in Solidity development.</p>
<h3 dir="ltr" style="text-align: justify;">Educational platforms and courses</h3>
<p dir="ltr" style="text-align: justify;">Many online courses cover Solidity and Ethereum development topics, ranging from beginner to expert levels. The learning environment in these courses frequently involves practical exercises that offer for-the-instance projects, which provide valuable experience in figuring out and problem-solving in real-world situations.</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Certainly, you can contact Agilie, the company that successfully cowers blockchain development and provides support. We'll be happy to make suggestions and ensure we have a better solution for your project.&nbsp; Also, you can find a lot of helpful information on our&nbsp;<a href="https://agilie.com/blog" target="_blank" rel="noopener">blog</a>.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926445619.png" width="100%" height="100%" /><span class="incut--text">Find out more about our blockchain software development services.</span></a></p>
<p dir="ltr">Decentralized technology is shifting the reality, as it is supported by a community of developers proficient in relevant skills and technology. We are interested in future trends and development directions and are glad to share this information with you in the coming section.</p>
<h2 dir="ltr" style="text-align: justify;">Future of Smart Contract Security</h2>
<p dir="ltr" style="text-align: justify;">The fast-paced development of the digital sphere constantly reinvents smart contract security, too. This arena is marked by an ongoing arms race: developers and security specialists introduce useful security tools, and attackers, in turn, come up with new channels of attack. In this ever-changing ecosystem, tracking new trends and technological innovations is also a key issue for all contract systems developers. Let's discuss some future major trends.</p>
<h3 dir="ltr" style="text-align: justify;">Formal verification</h3>
<p dir="ltr" style="text-align: justify;">Formal verification consists of mathematical demonstration that smart contracts are correct according to their specified purpose to ensure they work smoothly. Accepting this approach as a development tool is anticipated to greatly cut the number of expensive bugs and Solidity vulnerabilities in smart contracts.</p>
<h3 dir="ltr" style="text-align: justify;">The rise of the security oracles</h3>
<p dir="ltr" style="text-align: justify;">Security oracles will execute external services that provide the smart contract with real-time security data, such as notifications of known vulnerabilities or when a security incident occurs across the network. Smart contracts can be updated in response to new security threats by connecting with security oracles.</p>
<h3 dir="ltr" style="text-align: justify;">Quantum-resistant smart contracts</h3>
<p dir="ltr" style="text-align: justify;">The introduction of quantum computing places the supporting cryptographic methods that underlie blockchain security at risk. This has prompted an effort to create quantum-resistant algorithms for smart contracts. This out-of-box methodology aims to make smart contracts possible even with the capabilities of quantum computers.</p>
<h3 dir="ltr" style="text-align: justify;">Automating security audits and AI</h3>
<p dir="ltr" style="text-align: justify;">The future of smart contract security is closely linked to the growing adoption of artificial intelligence and machine learning. These technologies can scan smart contracts on a larger scale and pinpoint the vulnerabilities promptly, accurately, and efficiently.</p>
<p style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Developing applications with a deep comprehension of blockchain technology and a progressive approach to development and security, Agilie becomes a reliable partner for companies willing to securely enter the area of smart contract creation.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710926488996.png" width="100%" height="100%" /><span class="incut--text">Connect with Agilie to transform ideas into a secure and innovative reality.</span></a></p>
<h2 dir="ltr">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Solidity is a programming language mainly used to create smart contracts and Decentralized Apps (DApps) on the Ethereum virtual machine. Since the blockchain landscape is dynamic and changing daily, Solidity programming complications and security issues will also grow and develop correspondingly. Developers can drastically improve smart contracts&rsquo; quality and dependability by knowing common mistakes and using available resources. Agilie, with its great expertise in blockchain programming, provides customers with highly technological and efficient solutions, ensuring that smart contracts become more secure.</p>
<p>&nbsp;</p>

<p>Explore the most common Solidity issues and find out the best practices on how to avoid them with Agilie.</p>

Explore the most common Solidity issues and find out the best practices on how to avoid them with Agilie.

What Are the Most Common Solidity Issues and How to Avoid Them? | Agilie

<p dir="ltr" style="text-align: justify;">Web 3.0 is a critical point, showing that the more intelligent the Internet is, the more tasks it executes and the simpler it is to access. This year, 2024, will offer increasing opportunities and invite entrepreneurs to keep themselves at the innovation line of scenery as they have the potential to grow, be innovative, and achieve results.</p>
<p dir="ltr" style="text-align: justify;">In the article, we consider key tendencies of the Web 3.0 ecosystem that can cause main shocks in business from 2024 to the future. Let's start the journey together from the front line of the digital age.</p>
<div id="form-description" class="form-description" style="text-align: left;" data-title="Key Takeaways " data-text="Web 3.0 is the digital revolution, indicating a more integrated, intelligent Internet that guarantees growth and success.

Web 3.0 provides new areas of involvement, protection, safety, and personalization opening up a vast dimension of digital participation.

The latest Web 3.0 trends affect the business environment, improve customer experience, and contribute to competitiveness in different industries.">
<div class="form-description-title">Key Takeaways</div>
- Web 3.0 is the digital revolution, indicating a more integrated, intelligent Internet that guarantees growth and success.&nbsp;<br />- Web 3.0 provides new areas of involvement, protection, safety, and personalization, opening up a vast dimension of digital participation.&nbsp;<br />- The latest Web 3.0 trends affect the business environment, improve customer experience, and contribute to competitiveness in different industries.</div>
<h2 dir="ltr" style="text-align: justify;">Advancement of Interoperability</h2>
<p dir="ltr" style="text-align: justify;">In Web 3.0, interoperability means that various blockchain protocols and platforms can interact without obstacles and stand at the same level. Many things can be immediately sent and utilized through networks, from documents to finances.</p>
<p dir="ltr" style="text-align: justify;">One of the major trends of 2024 will be the improvement of interoperability, which leads to increased integration of financial services and further customer-centricity. Thus, DeFi can become compatible with several blockchain networks so that users can obtain different assets and services without being forced to deal with blocked assets in any network. Such steps aim to support the user experience and thereby contribute to developing a wider, more diverse, and inclusive financial environment.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760508632.png" /></p>
<h2 dir="ltr" style="text-align: justify;">Welcoming Virtual Identities</h2>
<p dir="ltr" style="text-align: justify;">The coming age of Web 3.0 calls forth significant changes, where virtual identities and digital wallets become more pronounced, thus modernizing the character of online interaction and transactions. Distinct from the traditional model, Web 3.0 is based on the concepts of decentralization and user-driven systems.</p>
<p dir="ltr" style="text-align: justify;">Digital wallets in Web 3.0 can hold cryptocurrency, be an identity and credentials representative in the blockchain, and have a secure and mobile way of accessing Web 3.0 services without giving personal data to third parties.&nbsp;</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>, the software development company, applies web3 identity solutions, improving user experience and security through blockchain encryption and distributed networks, reducing data breaches and fraud risks.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Our professional developers created a crypto wallet, which has been a great success.&nbsp;</p>
<p style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/success-stories/wallex" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760577826.png" width="100%" height="100%" /><span class="incut--text">Find out more about the Wallex project.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Utility NFTs Taking Center Stage</h2>
<p dir="ltr" style="text-align: justify;">NFTs' evolution from digital art collectibles to something more functional is a crucial change in the digital infrastructure regarding how companies leverage blockchain technology. With&nbsp;<a href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener">smart contract</a>&nbsp;technology automating the transactions and conditions, NFTs create a point of reference between digital assets and ownership.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">The application areas range from simplifying transactions and verifying physical assets to creating a more realistic and interactive digital world.</p>
<p dir="ltr" style="text-align: justify;">Agilie prioritizes embedding NFTs into software solutions, resulting in a system where digital tokens improve the experience and introduce new features. Our development process stresses a modular design that allows NFTs to be easily integrated into the existing systems. We devised modern NFT technology in projects like Lolypto.</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com/success-stories/lolypto" target="_blank" rel="noopener">Lolypto</a>&nbsp;is Agilie's innovative NFT and AI-based Chat game app. People and cryptocurrency are merged through live video streaming, AI, and NFT technologies. This combination gives the possibility to play, learn, have fun, and master the technology at the same time.</p>
<p style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/from-concept-to-reality-nft-game-development-explained" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760648455.png" width="100%" height="100%" /><span class="incut--text">Find out more about NFT development.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Blockchain in Banking and Financial Services</h2>
<p dir="ltr" style="text-align: justify;">Blockchain technology integration in banking and financial services is one of the most disruptive Web 3.0 trends that could entirely remake the current fintech landscape. This occurs because the blockchains provide the greatest certainty, visibility, and efficiency for transactions and data administration. Smart contracts integrate and enforce the contract terms, thus producing minimal chances of fraud and error and ensuring compliance with regulatory standards. Blockchain technology is aimed at simplifying and accelerating financial processes, from payments to cross-border transactions, which is done by eliminating intermediaries and significantly reducing the transaction time from several days to seconds.</p>
<p dir="ltr" style="text-align: justify;">Agilie combines years of experience in the fintech industry with practice-proven technologies to deliver reliable software development solutions to meet clients&rsquo; requirements.</p>
<p style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760722531.png" width="100%" height="100%" /><span class="incut--text">Find out more about fintech software development services.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Decentralized Metaverse</h2>
<p dir="ltr" style="text-align: justify;">The decentralized Metaverse is constructed on a Web 3.0 approach using blockchain technologies that enable an enormous and boundless network of virtual spaces where users can interact, transact, and create in a decentralized manner without a single controlling structure. Metaverse makes things easier and provides more autonomy, privacy, and security than the previous system could support. People can own, purchase, and sell digital money verifiably to become a part of the virtual economy and social, educational, and professional activities in a complete and lasting environment.</p>
<p dir="ltr" style="text-align: justify;">The fundamental rules consist of creating and managing digital assets via NFTs, constructing secure and efficient networks that can support numerous transactions, and the development of user-friendly interfaces.</p>
<p dir="ltr" style="text-align: justify;">Agilie's professionals provide secure and efficient blockchain application development and use technical expertise to ensure clients benefit from blockchain, leading to higher efficiency, security, and customer engagement.</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760767435.png" width="100%" height="100%" /><span class="incut--text">Learn more about our blockchain software development services.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Web 3.0 and AI Integration</h2>
<p dir="ltr" style="text-align: justify;">The&nbsp;<a href="https://agilie.com/blog/ml-ai-and-fintech-how-maching-learning-and-artificial-intelligence-help-you-benefit" target="_blank" rel="noopener">AI</a>&nbsp;role in Web 3.0 has shifted towards individualizing the user experience and improving efficiency. Using machine learning algorithms and data analytics, AI goes as far as understanding user likes and preferences, their behavior, and needs to provide personalized content, recommendations, resources, and services.</p>
<p dir="ltr" style="text-align: justify;">Integrating AI-driven insights in fintech enables more precise risk assessment, fraud detection, and customer service. Utilizing AI with blockchain technologies optimizes smart contract efficiency and automates more complex transactions, minimizing costs and enhancing transaction speed.</p>
<p dir="ltr" style="text-align: justify;">Agilie's AI development prioritizes product scalability, security, and user-centricity. Our solutions are designed to be integrated into the existing systems, which provide organizations with a competitive advantage in offering prompt and individualized services.</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760817722.png" width="100%" height="100%" /><span class="incut--text">Discover Agilie&rsquo;s solutions in our projects.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Expansion of DeFi</h2>
<p dir="ltr" style="text-align: justify;">The rise of Decentralized Finance (DeFi) plays the role of Web 3.0 innovative element. DeFi platforms allow all users control over their assets with secure, transparent, and instant transactions. The scope for financial operations extends from lending and borrowing to trading and investing without intermediaries, reducing costs and improving efficiency. The smart contracts embedded in the DeFi platforms' framework also bring forward programmable transactions. This lowers the risk of fraud and commitment errors. Our inspired&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">developer team</a>&nbsp;designs DeFi platforms that support the security of digital assets, hold large volumes of transactions, and can be interoperable with other blockchain platforms.&nbsp;</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760862330.png" width="100%" height="100%" /><span class="incut--text">Read more about secure smart contact design and tools.</span></a></p>
<h2 dir="ltr" style="text-align: justify;">Government Regulation</h2>
<p dir="ltr" style="text-align: justify;">The decentralization of Web 3.0 has many advantages, such as privacy, security, and access. However, it raises questions of accountability and consumer protection. The instances of fraud, hacking, and the misuse of decentralized platforms have emphasized the need for a law to manage the risks without choking innovation. Intellectual property (IP) rights, privacy, data protection, the use of artificial intelligence (AI), and other emerging technologies are legal topics covered by the Web 3.0 regulation that will be improved and expanded in the future. Engineers and companies should prioritize compliance and stay updated with the ever-changing adjustments.</p>
<p dir="ltr" style="text-align: justify;">These trends will shape 2024 and transform business. Let's go ahead and summarize how.</p>
<h2 dir="ltr" style="text-align: justify;">Transformative Impacts of Web 3.0 Trends on Business</h2>
<p dir="ltr" style="text-align: justify;">Web 3.0 trends have a significant and diverse impact on businesses. They have the potential to transform the industry landscape in the next ways:</p>
<ol style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Decentralization and increased security.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Enhanced transparency and credibility.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Efficiency and speed of service increased.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Improved access and interaction.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Innovative financial products and services.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Improved customer experience.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Interoperability and cross-platform integration.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Regulatory adaptation and compliance.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Competitive differentiation.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Market development and new income sources.</p>
</li>
</ol>
<p dir="ltr" style="text-align: justify;">Companies that skillfully incorporate and adjust to these trends pave the way for innovations, upgrades, and rethinking financial services of the digital era with a trusted technology partner.</p>
<h2 dir="ltr" style="text-align: justify;">Agilie: Your Trusted Partner in Navigating Web 3.0</h2>
<p dir="ltr" style="text-align: justify;">With the changing nature of Web 3.0, searching for a reliable development partner that corresponds to the complex balance between innovation, user experience, and compliance with regulations is essential. Agilie's team, with profound knowledge of technological, legal, and market factors, influences the Web 3.0 space. Our expertise includes software blockchain and fintech development, banking and payment solutions, and more. Therefore, our customers always get comprehensive and tailored products and services. Together, we will craft the technology of tomorrow! Just&nbsp;<a href="https://agilie.com/contacts" target="_blank" rel="noopener">contact us</a>.</p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">Web 3.0 will generate new heights and opportunities to reinvent businesses in 2024. The switch to a transparent and easy-to-use decentralized digital space means a new dawn for innovation, security, and growth. The trends of decentralized finance, digital identities, interoperability, AI, NFT, and many others have fundamental changes that will define business models, customer interaction, and market structure for the future.</p>
<p dir="ltr" style="text-align: justify;">Agilie has proven technical skills, industry experience, and innovative thinking to engineer secure, effective, and progressive solutions.</p>
<p dir="ltr" style="text-align: justify;">Please fill out our contact form to find out how Agilie can be a part of your business' success using Web 3.0 technologies.</p>
<p style="text-align: left;"><a class="incut--wrap" style="transition-timing-function: ease; transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1710760924903.png" width="100%" height="100%" /><span class="incut--text">Transform your future! Fill out our contact form.</span></a></p>

<p>Explore the transformative potential of Web 3.0 trends for businesses in 2024 and beyond with Agilie to prepare for the digital future.</p>

Explore the transformative potential of Web 3.0 trends for businesses in 2024 and beyond with Agilie to prepare for the digital future.

Web 3.0 in 2024: Key Trends and Their Impact on Business | Agilie

<p><span style="white-space: pre-wrap; font-family: Arial, sans-serif; font-size: 14.666667px;">Explore the top 8 crypto fundraising trends shaping 2024 and stay informed on the future of digital asset financing with Agilie.</span></p>

Explore the top 8 crypto fundraising trends shaping 2024 and stay informed on the future of digital asset financing with Agilie.

8 Latest  Crypto Fundraising Trends That Shape 2024 | Agilie

<p dir="ltr" style="text-align: justify;">The blockchain environment is constantly growing as new cases and applications appear unprecedentedly. The creation of smart contracts is becoming progressively more sophisticated in tandem with this quick expansion. Solidity-written smart contracts are the foundation for decentralized apps (dApps) on&nbsp;<a href="https://ethereum.org/" target="_blank" rel="noopener">Ethereum</a>&nbsp;and other blockchain systems, automating agreements and transactions without intermediaries. However, there is the risk of irrevocable money loss or data leakage if smart contract security is weak. Solidity programming language is still the most popular for <a href="https://agilie.com/blog/smart-contract-development" target="_blank" rel="noopener">developing smart contracts</a>, so it is essential to comprehend and put security best practices into effect. Agilie's dev team draws on Solidity programming, risk reduction, and defense against possible threats in the blockchains to provide information about smart contract security design.</p>
<div id="form-description" class="form-description" style="text-align: justify;" data-title="Key Takeaways " data-text="- Solidity is the primary language for smart contract development; therefore, being familiar with and avoiding vulnerabilities will be key for safe smart contract development. 
- Using tools including static analysis, formal verification, security audits, etc. assists professionals in smart contract development to identify and avoid known risks. 
- This article covers the advanced tools and techniques that smart contract developers can use to guarantee security and optimize their blockchain-based solutions.">
<div class="form-description-title">Key Takeaways</div>
- Solidity is the primary language for smart contract development; therefore, being familiar with and avoiding vulnerabilities will be key for safe smart contract development. <br />- Using tools including static analysis, formal verification, security audits, etc. assists professionals in smart contract development to identify and avoid known risks. <br />- This article covers the advanced tools and techniques that smart contract developers can use to guarantee security and optimize their blockchain-based solutions.</div>
<h2 dir="ltr" style="text-align: justify;">Understanding Smart Contract Vulnerabilities</h2>
<p dir="ltr" style="text-align: justify;">Before we go further into smart contracting, we should identify the common vulnerabilities in developing these virtual structures. Smart contract creation can succeed or fail depending on the proper use of Solidity language. We have prepared an introduction list consisting of the most frequent security issues during smart contract development:&nbsp;&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Re-entrancy attacks</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Arithmetic overflows and underflows</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Gas limit issues</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Front-running</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Dependence on timestamps</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Short address/parameter attack</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Code reuse</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Delegate call injection</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">One of the main questions is how to prevent these vulnerabilities and develop safe smart contracts. Let&rsquo;s continue with the exploration of this topic.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709638436467.png" /></p>
<h2 dir="ltr" style="text-align: justify;">Best Practices in Solidity Programming</h2>
<p dir="ltr" style="text-align: justify;">Utilizing the best industry practices in Solidity programming is an effective way to avoid common vulnerabilities and errors, increase efficiency, and ease of maintenance, ensuring that blockchain app is reliable. The following practices of top Solidity programmers aid in developing secure and highly efficient smart contracts.</p>
<h3 dir="ltr" style="text-align: justify;">Use Latest Solidity Compiler Version</h3>
<p dir="ltr" style="text-align: justify;">Prepare smart contracts based on the newest detectable version of the Solidity compiler that has been considered by the developers and eliminated known vulnerabilities beforehand.</p>
<h3 dir="ltr" style="text-align: justify;">Limitations on contract size</h3>
<p dir="ltr" style="text-align: justify;">The implementation will become invalid as the size of large contracts can go beyond the supported maximum size limit of the Ethereum virtual machine. The larger the codebase of a contract, the smarter it is when broken down into a few simple contracts that interact.</p>
<h3 dir="ltr" style="text-align: justify;">Data location</h3>
<p dir="ltr" style="text-align: justify;">Grasping the difference between storing and keeping Solidity data in the memory is key. Storage is indefinite and hence expensive, while memory is ephemeral and low-priced. Blockchain developers can cut gas bills and enhance efficiency by providing proper contract storage.</p>
<h3 dir="ltr" style="text-align: justify;">Explicit visibility specifiers</h3>
<p dir="ltr" style="text-align: justify;">Guarantee the visibility of a function and variable by explicitly stating them. Solidity has "public" functions by default meaning that anyone can call them. Such situations can expose the hidden functions at risk if the sensitive functions are illegally open. Select "private" or "internal" for functions and variables that should not be accessed outside the contract, and "external" for functions that will be called only externally.</p>
<h3 dir="ltr" style="text-align: justify;">Avoiding loops and recursions</h3>
<p dir="ltr" style="text-align: justify;">Recursive calls and loops may unintentionally exhaust gas and exceed the block gas limit. Loops operate on variable-sized data structures or recursive calls, which can give way to unnecessary gas consumption or DoS attacks due to gas exhaustion. So, it is better to avoid them.</p>
<h3 dir="ltr" style="text-align: justify;">SafeMath for arithmetic operations</h3>
<p dir="ltr" style="text-align: justify;">Use the SafeMath library for arithmetic operations to guard against overflows and underflows.</p>
<h3 dir="ltr" style="text-align: justify;">Deploy security patterns and audits</h3>
<p dir="ltr" style="text-align: justify;">Deploy security patterns, validate, and do not neglect the re-entry locker system. Accordingly, accurate audits, including automatic analysis and manual code inspection, are of great need in finding and taking measures for possible weaknesses.</p>
<h3 dir="ltr" style="text-align: justify;">Event logging</h3>
<p dir="ltr" style="text-align: justify;">Log key activities of the contract by using events. Events contribute to debugging and are like a screen that shows the whole process and all the steps, which increases responsibility and confidence in the process.</p>
<p dir="ltr" style="text-align: justify;">Integrating these leading practices into Solidity programming is a great start. Agilie, as a blockchain software development company, is well-versed in all the blockchain intricacies.&nbsp;<a href="https://agilie.com/company" target="_blank" rel="noopener">Our team</a>&nbsp;of developers with extensive experience is ready to create secure smart contracts and scalable blockchain applications to meet all client's needs and provide full technical support.&nbsp;</p>
<p dir="ltr"><a href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"> </a><a class="incut--wrap" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709642370637.png" width="100%" height="100%" /> <span class="incut--text">Learn more about some of our successful cases.</span> </a></p>
<p dir="ltr" style="text-align: justify;">We offer to discover what tools and techniques for&nbsp;smart contracts&nbsp;security Agilie&rsquo;s team uses and recommends.</p>
<h2 dir="ltr" style="text-align: justify;">Tools and Techniques for Security</h2>
<p dir="ltr" style="text-align: justify;">As blockchain network gets more intricate and valuable, the need for accurate tools and methods to protect against fraud also increases. Let's analyze a set of tools that developers can use to detect weaknesses, make application faster, and carry out testing.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709638525346.png" /></p>
<h3 dir="ltr" style="text-align: justify;">Static analysis tools</h3>
<p dir="ltr" style="text-align: justify;">Static analysis is the procedure of reading and examining the code without running it to find various vulnerabilities, coding errors, and deviations from best practices. The Ethereum development community extensively applies tools like Slither, Mythril, and Solhint to aid in this task.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Slither:</strong>&nbsp;Solidity's static analysis platform which, identifies vulnerabilities, for example, access to re-engines, untested low-level calls, arithmetic faults, and code improvement opportunities.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Mythril:</strong>&nbsp;the open-source security analysis tool for Ethereum smart contracts. It executes symbolically, finds contamination, and performs control-flow verifications to unveil various security vulnerabilities and ensure contracts comply with security best practices.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Solhint:&nbsp;</strong>This linter serves as a tool to provide style and security rules for Solidity code. It includes safety regulations and stylistic recommendations ensuring smart contracts are secure and simple to maintain.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The static analysis builds into the lifecycle of the developers. As a result, the early detection and elimination of security flaws occur.</p>
<h3 dir="ltr" style="text-align: justify;">Formal verification</h3>
<p dir="ltr" style="text-align: justify;">Formal verification is a strict mathematical method that will either enforce or negate the correctness of smart contract algorithms that depict certain formal specifications or properties. This step is embodied in constructing a mathematical representation of a smart contract and using tools like the K Framework or Isabelle.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>K Framework:</strong>&nbsp;Open source framework, which lets to declare, write, and formally confirm the system functionality.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Isabelle/HOL:&nbsp;</strong>An assistant for the higher logic that enables the performance of the formal proofs to verify the properties of the smart contracts. This fact is highly important for use in complicated contracts, where the highest precision and reliability are required.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Dynamic Analysis and Testing Frameworks</h3>
<p dir="ltr" style="text-align: justify;">Dynamic analysis involves the smart contracts' running and checking in a controlled environment to dig out the vulnerabilities not discovered by static analysis. The most commonly used tools include Ganache and Echidna.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Ganache:&nbsp;</strong>aspect of the Truffle Suite, a personalized Ethereum development blockchain capable of deploying contracts, developing apps, and executing tests.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Echidna:</strong>&nbsp;a smart contract parser for Ethereum written in Haskell. Echidna applies the property-based testing technique to generate random inputs for contract functions and detect faults.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Security audit</h3>
<p dir="ltr" style="text-align: justify;">A security audit needs a manual review of the contract code by security analysts to locate any possible vulnerabilities or logical errors that have not been identified by automated tools.</p>
<p dir="ltr" style="text-align: justify;"><a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>&nbsp;intends to improve the security of the smart contracts by adopting these advanced instruments and approaches in the development process, which includes 6 steps:</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 1:</strong> Creating a smart contract concept.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 2:&nbsp;</strong>Choosing the platform.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 3:</strong> Tools selection.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 4:</strong> Development.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 5:&nbsp;</strong>Testing.</p>
<p dir="ltr" style="text-align: justify;"><strong>Step 6:</strong> Deployment.</p>
<p dir="ltr" style="text-align: justify;">This creates an environment where customers and partners experience object-oriented, efficient, and reliable blockchain solutions.</p>
<p dir="ltr"><a class="incut--wrap" href="https://agilie.com/blog/smart-contract-development" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709642511998.png" width="100%" height="100%" /> <span class="incut--text">Read more about the smart contract development process.</span> </a></p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">The issue of smart contract security is one of great concern along with the fast development of blockchain technology. Developing a secure smart contract design is very important, which is a fundamental responsibility of users and customers who use digital agreements in many applications. Among many programming languages, Solidity is the most prominent for Ethereum smart contracts. It features some powerful elements but also comes with obstacles for the developers. Using newer versions of the compilers, knowing the smart contract secrets and vulnerabilities, implementing advanced security measures, and following the newest instructions are also vital, alongside the utilization of up-to-date tools and methods for security flaw detection.</p>
<p dir="ltr" style="text-align: justify;">Agilie always learns about the newest research results and tendencies in the&nbsp;<a href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener">blockchain</a>&nbsp;field, to make its methods perfect for secure smart contracts. We welcome you to understand how our dev team can help you to accomplish your blockchain development needs. Together, we will create an innovative and secure world for the blockchain technology.&nbsp;</p>
<p><a class="incut--wrap" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1709642563261.png" width="100%" height="100%" /> <span class="incut--text">Learn more about blockchain software development services.</span> </a></p>

<p><span style="font-size: 11pt; font-family: Arial, sans-serif; font-variant-ligatures: normal; font-variant-alternates: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">​​</span><span style="font-size: 11pt; font-family: Roboto, sans-serif; font-variant-ligatures: normal; font-variant-alternates: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-position: normal; vertical-align: baseline; white-space: pre-wrap;">Learn how to avoid Solidity vulnerabilities and create secure smart contracts with Agilie's recommendations.</span></p>

​​Learn how to avoid Solidity vulnerabilities and create secure smart contracts with Agilie's recommendations.

Secure Smart Contract Design: Best Practices in Solidity Programming | Agilie

<p dir="ltr" style="text-align: justify;">In the dynamic world of financial technology, one trend that continues to attract investors and entrepreneurs alike is Initial Coin Offerings (ICOs). We expect significant success for ICO projects as the blockchain and cryptocurrency markets grow.</p>
<div id="form-description" style="text-align: justify;" data-title="Key Takeaways " data-text="- ICOs continue to attract investors and entrepreneurs within the dynamic world of financial technology. 
- The annual growth of the cryptocurrency market (8.62%) represents a significant opportunity for the success of fintech ICO projects. 
- ICOs have democratized investment opportunities and provided direct access to global investors. 
- With 14 years of experience in fintech development and expertise in cryptocurrencies and blockchain, Agilie is happy to share knowledge and best practices for successfully launching an ICO.">
<div id="form-description" class="form-description">
<div class="form-description-title">Key Takeaways</div>
- ICOs continue to attract investors and entrepreneurs within the dynamic world of financial technology. <br />- The annual growth of the cryptocurrency market (<a href="https://www.statista.com/outlook/fmo/digital-assets/cryptocurrencies/worldwide" target="_blank" rel="noopener">8.62%</a>) represents a significant opportunity for the success of fintech ICO projects. <br />- ICOs have democratized investment opportunities and provided direct access to global investors. <br />- With 14 years of experience in fintech development and expertise in cryptocurrencies and blockchain, Agilie is happy to share knowledge and best practices for successfully launching an ICO.</div>
</div>
<h2 dir="ltr" style="text-align: justify;">Exploring the Core Concepts of ICOs</h2>
<p dir="ltr" style="text-align: justify;">ICO has become a revolutionary fundraising method, allowing both startups and businesses to raise capital through the distribution of digital tokens. ICOs enable firms to finance their initiatives by selling tokens to investors, providing them with potential future access to products, services, or ownership stakes in the company.</p>
<p dir="ltr" style="text-align: justify;">&nbsp;<img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708338894484.png" alt="" width="1200" height="691" /></p>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">The appeal of ICOs stems from their capacity to democratize investment, granting access to a worldwide network of investors without reliance on conventional intermediaries like banks or venture capital firms.</p>
<p dir="ltr" style="text-align: justify;">This approach not only speeds up the process of raising funds from investors but also allows projects to receive support and funding directly from their target audience. Let's look at the launching process of ICOs in the&nbsp;<a href="https://agilie.com/blog/what-is-financial-technology-fintech-definition-evolution-examples" target="_blank" rel="noopener">fintech</a>&nbsp;sector.</p>
<h2 dir="ltr" style="text-align: justify;">Launching the ICO</h2>
<p dir="ltr" style="text-align: justify;">A successful ICO launch requires careful planning, strategic execution, and effective communication. Consider the main steps necessary to launch an ICO.</p>
<p dir="ltr" style="text-align: justify;"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708339113044.png" alt="" width="1200" height="691" /></p>
<h3 dir="ltr" style="text-align: justify;">Step 1: Developing the ICO whitepaper</h3>
<p dir="ltr" style="text-align: justify;">The ICO whitepaper is a primary document of any successful token offering. It provides potential investors a comprehensive view of the project, technology, tokenomics, marketing strategy, solution, and roadmap. It must include such details:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Project introduction and overview. Project purpose, concept, market research, overview of the problem, or the innovation it brings to the market.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Technology and integration with&nbsp;<a href="https://agilie.com/blog/blockchain-payments" target="_blank" rel="noopener">blockchain</a>. This section should describe how blockchain technology increases the fintech ecosystem's security, transparency, and efficiency.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Tokenomics and utility. Defining the role of the native token in the platform and its utility, token distribution, placement, supply, and demand regulating mechanisms.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Roadmap and stages. A clear roadmap that outlines the project development schedule, key stages, and results. Or <a href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener">blockchain development for enterprise</a>.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Team. Introduction of team members, their knowledge, and experience. In addition, it is worth mentioning all important advisors or partners who give the project credibility.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Legal and regulatory aspects. All legal and regulatory aspects, including compliance with securities laws, data protection rules, and KYC/AML requirements.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Risk factors. Potential risks and obstacles related to the company include market fluctuations, regulatory uncertainty, technical barriers, and competitive pressure.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Marketing and public engagement. Project marketing strategy and public engagement plans.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Total cost estimate. Calculate the expenses, which include the following cost groups: software development services, technology setup, mechanics of token sales, marketing, public relations, investor relations, compliance, and regulatory affairs.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Step 2: Blockchain technology and token creation, choosing an ICO platform</h3>
<p dir="ltr" style="text-align: justify;">The right blockchain platform and token standard are crucial to decide when it comes to ICO development. Here are the key points:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Blockchain technology. It is necessary to choose a blockchain platform that meets the project's requirements in terms of its scalability, security, consistency mechanism, and development ecosystem. Popular blockchain networks include&nbsp;<a href="https://ethereum.org/en" target="_blank" rel="noopener">Ethereum</a>,&nbsp;<a href="https://www.binance.com/en/feed" target="_blank" rel="noopener">Binance Smart Chain</a>,&nbsp;<a href="https://polygon.technology/" target="_blank" rel="noopener">Polygon</a>, and&nbsp;<a href="https://solana.com/" target="_blank" rel="noopener">Solana</a>. Explore their pros and cons to find the best option for the project.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Token creation. It is essential to determine the type of token that best suits the project's goals (utility token, security token, or governance token). Experienced&nbsp;<a href="https://agilie.com/expertise/fintech/blockchain-software">blockchain developers</a>&nbsp;who design and deploy the smart contract token will ensure compliance with industry standards and best practices.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Choosing a platform. A reliable and user-friendly ICO platform should be selected (specialized crowdfunding platforms, decentralized exchanges (DEX), or token platforms). Security features, compliance with regulatory requirements, token listing capabilities, and community outreach should be evaluated.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Step 3: Technology settings&nbsp;</h3>
<p dir="ltr" style="text-align: justify;">The main stages of technology settings are as follows:&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Smart contract development. Collaboration with experienced blockchain developers will help to create and audit smart contracts that regulate the release, distribution, and trading of tokens.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Integration of token wallet. It is necessary to ensure compatibility with popular cryptocurrency wallets to make it easier for investors to store, transfer, and manage tokens. It must be a high-quality application created by a professional ICO development company.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Security measures. Employ strong security measures to safeguard against cyber threats, including multifactor authentication, encryption, and secure hosting.</p>
</li>
</ul>
<p style="text-align: left;"><a href="https://agilie.com/blog/cryptocurrency-wallet-development" target="_blank" rel="noopener" aria-label="incut"> </a><a class="incut--wrap" href="https://agilie.com/blog/cryptocurrency-wallet-development" target="_blank" rel="noopener" aria-label="incut"> <img src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708343893622.png" width="100%" height="100%" /> <span class="incut--text">How do you secure your crypto?</span> </a></p>
<h3 dir="ltr" style="text-align: justify;">Step 4: Sales token mechanism</h3>
<p dir="ltr" style="text-align: justify;">This step includes the following stages:&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Token sale structure. The token sale structure should be defined, including pricing mechanisms, stages of token distribution, and fundraising goals.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">KYC/AML screening. Deploy procedures for "know your customer" (KYC) and "anti-money laundering" (AML) to authenticate investor identities and adhere to regulatory standards.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Escrow services. Engage in reliable escrow services is essential to secure the safe storage of funds during the token sale process.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Step 5: ICO Marketing and public relations</h3>
<p dir="ltr" style="text-align: justify;">This step should be considered, as the size of the target audience will play an essential role in attracting investment. It includes:&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><a href="https://agilie.com/expertise/technology/web-development" target="_blank" rel="noopener">Website development</a>. Creating a professional and informative website and landing page is needed to attract the users' attention. They should describe the main details about the project, team, whitepaper, token sales, and resources for investors.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Social media strategy. A well-developed social media strategy raises awareness, builds community support, and encourages participation in the ICO.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Content creation. High-quality content (blog posts, articles, videos, and infographics) is crucial for informing investors and raising project hype.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Public relations. Media relations, press releases, events, and partnerships with influencers highlight the project in the media.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Step 6: Relations with investors</h3>
<p dir="ltr" style="text-align: justify;">After the project is actively promoted, it is possible to attract investors. We define important aspects of this step:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Communication channels. Clear communication channels (newsletters, messengers like telegram, community forums, and others) provide updated information and responses to investor inquiries.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Transparency. It's essential to uphold transparency during the ICO process by consistently updating investors on project progress, key milestones, and any developments impacting the venture.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Support services. Providing specialized support services is necessary to help investors with technical issues, account setup, and token purchase requests.</p>
</li>
</ul>
<h3 dir="ltr" style="text-align: justify;">Step 7: Compliance and legal regulations</h3>
<p dir="ltr" style="text-align: justify;">An important step is to ensure transparency and compliance with the law. We recommend:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Meet the requirements. Ensure compliance with the relevant securities laws, tax laws, and data protection standards in the jurisdictions where the ICO is conducted.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Form a lawyer team. Get experienced lawyers specializing in blockchain and cryptocurrencies to deal with regulatory complexities and mitigate legal risks.</p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">We understand all the nuances involved in a successful ICO launch. With 14 years of experience, Agilie effectively helps clients implement their projects and ideas with the latest solutions. Every business can confidently navigate the complexities of the ICO landscape knowing that it has a trusted team committed to its success.&nbsp;</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" href="https://agilie.com/company" target="_blank" rel="noopener" aria-label="incut"> <img src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708344018346.png" width="100%" height="100%" /> <span class="incut--text">With Agilie as a partner, your business gets the experience and support needed to overcome challenges and seize opportunities. Get to know Agilie!</span> </a></p>
<h2 dir="ltr" style="text-align: justify;">Post-ICO Strategy and Execution</h2>
<p dir="ltr" style="text-align: justify;">Success is measured not only by the funds raised but also by the impact the company creates and the promises it delivers. Whether developing a revolutionary product, launching innovative features, or hitting critical milestones outlined in a white paper, upholding transparency and accountability is essential. This step maintains trust and credibility and lays the foundation for further growth and adoption.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Maintaining active engagement with investors and supporters in the community is key to preserving a valuable asset. Creating open communication channels, receiving feedback, and building a sense of belonging are very effective actions on this road.&nbsp;Wise management and allocation of ICO funds are crucial for project sustainability and scalability. Strategic distribution of resources can maximize the project's potential and accelerate its growth.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">&nbsp;</p>
<p dir="ltr" style="text-align: justify;">We know that the journey doesn't end with the ICO - it's just the beginning of a new phase. Agilie brings years of technical expertise and innovative solutions to empower businesses to develop and execute successful fintech products.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" href="https://agilie.com/success-stories/wallex" target="_blank" rel="noopener" aria-label="incut"> <img style="float: left;" src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708344068535.png" width="100%" height="100%" /> <span class="incut--text">Read about our development solutions for crypto wallets.</span> </a></p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr" style="text-align: justify;">The future of fintech ICOs is full of opportunity.&nbsp; Blockchain technology is constantly evolving, market dynamics are changing, and the regulatory framework is improving. As a result, various businesses have new opportunities for improvement and expansion.</p>
<p dir="ltr" style="text-align: justify;">The success of fintech ICOs depends on effective partnerships.</p>
<p dir="ltr" style="text-align: justify;">By partnering with Agilie, companies get more than just technical expertise - they get a trusted ally who shares their vision, understands challenges, and is committed to their success. With proven experience in blockchain, ICO development services, and fintech innovation, we offer a straightforward way to success.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Ready to take the next step?</p>
<p dir="ltr" style="text-align: left;"><a class="incut--wrap" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"> <img src="https://d12zh9bqbty5wp.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1708344116005.png" width="100%" height="100%" /> <span class="incut--text">Start your fintech ICO journey today!</span> </a></p>

<p><span style="color: #0d0d0d; font-family: S&ouml;hne, ui-sans-serif, system-ui, -apple-system, 'Segoe UI', Roboto, Ubuntu, Cantarell, 'Noto Sans', sans-serif, 'Helvetica Neue', Arial, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji'; font-size: 16px; white-space-collapse: preserve; background-color: #ffffff;">Learn all the essential steps and rules to launch a successful Fintech ICO in 2024.</span></p>

Learn the key steps and rules to launch a successful Fintech ICO in 2024. Partner with Agilie, a trusted fintech software development company.

Launching a Fintech ICO in 2024: The Essential Step-by-Step Guide | Agilie

<p>Learn what is an enterprise blockchain development, issues, solutions with this technology, and how businesses benefit from it.</p>

Learn what is an enterprise blockchain development, issues, solutions with this technology, and how businesses benefit from it.

What is an Enterprise Blockchain? | Agilie

<p style="text-align: justify;">Analyze how to create a smart contract, its benefits, and best development practices. Explore a step-by-step guide on smart contract crafting.&nbsp;</p>

Analyze how to create a smart contract, its benefits, and best development practices. Explore a step-by-step guide on smart contract crafting. 

Comprehensive Guide on Smart Contract Creation | Agilie

<p dir="ltr" style="text-align: justify;">The rise of crypto wallets represents&ensp;a significant innovation in fintech. Those wallets can be very useful for businesses because, with them, many people can have access to funds depending on roles and permissions.</p>
<p dir="ltr" style="text-align: justify;">Depending on the type, cryptocurrency wallets also help in managing digital assets and allow businesses or individuals to control funds without banking, as they retain the full autonomy of&ensp;funds, or even trade assets without manual transfers. In this article, we are going to see what is the difference between a custodial and non-custodial wallet.</p>
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="The custodial wallet requires identity verification, breaching the user&rsquo;s anonymity, while the non-custodial wallet is pseudonymous. 
Since non-custodial wallets operate independently of centralized exchanges (CEXs), transaction speed depends on blockchain network conditions, leading to delays in crypto operations. 
Although the custodial wallet relies on the Know Your Customer policy, the risks of cyber security attacks arise because of the required identity verification.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">The custodial wallet requires identity verification, breaching the user&rsquo;s anonymity, while the non-custodial wallet is pseudonymous.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Since non-custodial wallets operate independently of centralized exchanges (CEXs), transaction speed depends on blockchain network conditions, leading to delays in crypto operations.&nbsp;</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Although the custodial wallet relies on the Know Your Customer policy, the risks of cyber security attacks arise because of the required identity verification.</p>
</li>
</ul>
</div>
<h2 dir="ltr" style="text-align: justify;"><strong>Foreword: The Essence of Private Keys</strong></h2>
<p dir="ltr" style="text-align: justify;">Hold on! Why is it important to discuss the private key and how it comes with the custodial and non-custodial wallets? Let&rsquo;s define this cryptographic element and analyze its functions and importance for crypto wallets.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">The crypto wallet generates a private key, which represents an alphanumeric code consisting of a large string of letters and numbers. The primary functions of a private key include enabling the users to authorize transactions and prove ownership of their assets.</p>
<p dir="ltr" style="text-align: justify;">This alphanumeric cipher matters to any crypto wallet type as it generates a digital signature. A private key is used to sign the transaction, which is transmitted to the blockchain, but prior to being added to the block, it requires verification. The computers operating the blockchain check the user&rsquo;s public key to verify the digital signature, and if it is correct the transaction is approved and recorded permanently on the blockchain.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">The private and public keys are paired, which ensures the transaction&rsquo;s security due to the resistance to tampering and the impossibility of making any changes on the block. Hence, private keys are central elements of a crypto wallet, so let&rsquo;s discuss their essence in custodial and non-custodial wallets.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;"><strong>What Is a Custodial Wallet?</strong></h2>
<p dir="ltr" style="text-align: justify;">The custodial wallet meaning can be defined as a wallet in which a third party, such as an exchange or bank, holds the private keys of the users. This means that the client is not in full control of their funds, as they rely on the custodian who secures and manages their transactions.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">There are the following features of the custodial wallets:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Simplified Usability</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The custodial wallets represent an opportunity for beginners to trade their crypto assets without managing private keys.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Options for Account Recovery</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">If users lose access to their accounts, they will be able to recover their funds as the custodian holds their private keys on the centralized server. The users will only have to verify their identity.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Support Opportunities</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">A central unity manages the client&rsquo;s wallet, providing them with support like undoing the transaction.</p>
<p dir="ltr" style="text-align: justify;">Some of the best custodial wallets to consider are: Coinbase, Gemini, BitMex, BitGo, Binance, and Bitfinex.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>What Is a Non-Custodial Wallet?</strong></h2>
<p dir="ltr" style="text-align: justify;">When analyzing the non-custodial vs custodial wallet, the first one provides clients with full ownership of their private keys and funds, respectively. This autonomy defines the non-custodial wallet meaning that no third party will handle the user&rsquo;s funds and operations. This excludes issues like account freezing and withdrawal restrictions. There are the following distinctive features of the non-custodial wallets:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>User&rsquo;s Full Ownership</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The non-custodial wallets function within the decentralized ecosystem, meaning that no centralized unity will manage the wallet.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Direct Blockchain Interaction</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">A non-custodial wallet does not require an intermediary; transactions occur directly on the blockchain.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Increased Privacy</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The users don&rsquo;t have to abide by the Know Your Customer policy and verify their identity in the non-custodial wallet. This crypto wallet type preserves pseudoanonimity.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/blog/digital-wallets-types-ideas-and-future-of-such-products" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1740483774764.png" width="100%" height="100%" /><span class="incut--text">Gain insights into the essence of e-wallets, their benefits, and examples.</span></a></p>
<h2 dir="ltr" style="text-align: justify;"><strong>Difference Between Custodial and Non-Custodial Wallet</strong></h2>
<p dir="ltr" style="text-align: justify;">Based on the aforementioned analysis of two crypto wallet types, their meaning, advantages, and disadvantages, it would be essential to provide a short summative recap, as well as additional details on the differences between the custodial wallet vs non-custodial wallet, focusing on the following metrics.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Security</strong></h3>
<h4 dir="ltr" style="text-align: justify;"><strong>Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">The custodial wallet is less secure than its non-custodial counterpart, considering its vulnerability to cyberattacks. Hackers can attack the centralized servers and obtain access to multiple accounts.</p>
<p dir="ltr" style="text-align: justify;">Credential harvesting is a phishing type of cyberattack which aims to steal a user&rsquo;s login and password so that the attacker can access their account. The attackers send the falsified site links, almost identical to the real ones, via SMS or email, so by entering their credentials, the victim provides them with access to their funds.&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;"><strong>Non-Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">The non-custodial wallets depend on the private keys owned by the users, which decreases the risks of theft. Nevertheless, attackers can obtain the key due to malware attacks, which can infect the computer or smartphone as in the case of clipboard hijacking malware attack.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">The malware functions, so to say, silently in the device, monitoring the clipboard. When the user copies the wallet address, the malware substitutes it with the attacker&rsquo;s one, so the victim sends them their funds unintentionally.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Ownership of Private Keys</strong></h3>
<h4 dir="ltr" style="text-align: justify;"><strong>Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">In the custodial wallet, it&rsquo;s the custodian&rsquo;s responsibility to hold the user&rsquo;s private keys, which limits the latter&rsquo;s control over their funds. This is one of the most significant disadvantages of the custodial wallets for the following reasons:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Lack of Client&rsquo;s Full Ownership Over Their Finances.</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The client has access to accounts but relies heavily on the custodian&rsquo;s controls over the transaction&rsquo;s approval.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Withdrawal and Transaction Restrictions</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The custodian can delay or block the transaction based on governmental policies, which can limit the fund movement.&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;"><strong>Non-Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">In the non-custodial wallet, the user holds the private keys by themselves, which is simultaneously convenient and requires a decent level of responsibility not to lose them.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>No KYC Compliance</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">The non-custodial wallet does not rely on the KYC policy, so the user doesn&rsquo;t have to verify their identity to proceed with the transactions, showing their full ownership over their funds.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Ease of Use&nbsp;</strong></h3>
<h4 dir="ltr" style="text-align: justify;"><strong>Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">Custodial wallets are easier to use as the client does not have to know the precise details of the exchange work. If the user wants to undo the operation, customer support can help with that.&nbsp;</p>
<h4 dir="ltr" style="text-align: justify;"><strong>Non-Custodial Wallet</strong></h4>
<p dir="ltr" style="text-align: justify;">Non-custodial wallets require decent knowledge about the work of blockchain and smart contracts, as minor mistakes can lead to the loss of funds with no refund option, representing one of the core challenges of this wallet type.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/blog/top-7-crypto-wallet-apps" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1740483930529.png" width="100%" height="100%" /><span class="incut--text">Check out 7 potential crypto wallets you might use.</span></a></p>
<h2 dir="ltr" style="text-align: justify;"><strong>Choosing the Right&nbsp;Wallet&nbsp;for Your Business Needs</strong></h2>
<p dir="ltr" style="text-align: justify;">You might be interested in how to choose the right wallet type per business needs. It's time to discuss the most suitable cases to use custodial and non-custodial cryptocurrency wallets.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Custodial Wallets</strong></h3>
<p dir="ltr" style="text-align: justify;">The custodial wallets are a valuable option for businesses that need an insured and regulated service. For instance, Greyscale, a leading crypto asset manager, utilizes Coinbase Custody, which improves its scalability and contributes to success due to alignment with NYC banking laws as the wallet is regulated by NYDFS, one of the most prominent financial regulators in the world.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Non-Custodial Wallets</strong></h3>
<p dir="ltr" style="text-align: justify;">The non-custodial wallets are best suited for businesses that manage crypto without third-party integration, and those companies with DeFi projects and NFT platforms. For instance, Open Sea, a web3 marketplace for NFTs, applies Meta Mask, which improves its scalability and success by integrating Layer 2 support like Polygon network for lower fees and faster transactions.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Who We Are</strong></h2>
<p dir="ltr" style="text-align: justify;">Agilie is a European IT outsourcing organization that crafts custom digital products for businesses and startups in fintech, real estate, healthcare, and marketing domains. By providing our clients with three outsourcing models, like the dedicated team, staff augmentation, and project-based outsourcing, Agilie elaborates on tech-savvy software relevant to&nbsp;<a href="https://agilie.com/expertise/fintech" target="_blank" rel="noopener">fintech</a>,&nbsp;<a href="https://agilie.com/expertise/fintech/payment-solutions" target="_blank" rel="noopener">payment solutions</a>, and&nbsp;<a href="https://agilie.com/expertise/fintech/mobile-banking" target="_blank" rel="noopener">mobile banking</a>.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">When it comes to the&nbsp;<a href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener">blockchain software development services</a>, Agilie can help you craft:</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Cryptocurrency</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Crypto Wallets</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Blockchain</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Smart Contracts</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">NFT</p>
</li>
</ul>
<h2 dir="ltr" style="text-align: justify;"><strong>Conclusion</strong></h2>
<p dir="ltr" style="text-align: justify;">The article analyzed the features, advantages, disadvantages, and differences of custodial vs non-custodial crypto wallet types. Both introduce unique approaches to handling finances, such as the client&rsquo;s full ownership of the private keys versus the custodian&rsquo;s. Nevertheless, when choosing a wallet type, you have to take into account the elements of security, anonymity, and tech knowledge to make your trade or transactions secure and minimize risks.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1740484028707.png" width="100%" height="100%" /><span class="incut--text">Are you eager to craft a personalized crypto wallet? Then contact us to get a consultation!</span></a></p>

<p>Explore the differences between a custodial wallet vs non-custodial wallet, their features, and use cases.</p>

Explore the differences between a custodial wallet vs non-custodial wallet, their features, and use cases.

Custodial vs Non-custodial Wallet: Explained & Compared | Agilie

<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-ffc04ced-7fff-1c27-71a8-06f1b85a7b1f">Blockchain has become a paradigm shift that changes the operations of different industries. Nevertheless, like any other disruptive technology, a lot of myths and misconceptions have appeared. We should differentiate between fact and fiction to use blockchain technology effectively and responsibly. We can better understand what blockchain is (and isn&rsquo;t), how it functions, and the varied applications it holds besides cryptocurrencies by clarifying these misconceptions.</span></p>
<div id="form-description" class="form-description" data-title="Key Takeaways" data-text="Blockchain is not just about Bitcoin; it is the technology that can transform different fields. 

Blockchains are strong but not flawless, and being aware of the possible weak sections is a very important thing in keeping the network safe.

Educational investment and partnerships with software development experts are the main factors for businesses that will use blockchain technology.">
<div class="form-description-title">Key Takeaways</div>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Blockchain is not just about Bitcoin; it is the technology that can transform different fields.&nbsp;</p>
</li>
<li dir="ltr" style="text-align: left;" aria-level="1">
<p dir="ltr" role="presentation">Blockchains are strong but not flawless, and being aware of the possible weak sections is a very important thing in keeping the network safe.</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" style="text-align: left;" role="presentation">Educational investment and partnerships with software development experts are the main factors for businesses that will use blockchain technology.</p>
</li>
</ul>
</div>
<h2 dir="ltr" role="presentation">&nbsp;Myth 1: Blockchain and Bitcoin Are the Same</h2>
<p dir="ltr">Among the most common myths about blockchain technology is the confusion between the blockchain and Bitcoin. Blockchain and Bitcoin were created simultaneously, so they are widely believed to be the same thing. However, we must understand that blockchain is a much broader term. It is the technology that created Bitcoin. While Bitcoin is indeed the first and most famous application of this technology, equating the two is like saying that Google is the Internet.</p>
<p dir="ltr">Blockchain is a decentralized digital ledger technology (DLT) that records transactions across multiple computers so that the records cannot be altered retroactively, without the alteration of all subsequent blocks and the consensus of the network.</p>
<p dir="ltr">This makes blockchain a naturally secure and transparent method of data and transaction recording.&nbsp;</p>
<p dir="ltr">Bitcoin is a type of digital currency based on blockchain technology and used for secure, anonymous, and decentralized financial transactions. The blockchain of Bitcoin acts as a public ledger for all the transactions in the Bitcoin network, thus, it is possible to transfer digital currency securely without the use of intermediaries like banks or governments.&nbsp;</p>
<p dir="ltr">Blockchain technology can be much broader than purely financial transactions. It can be used in different industries with various aims. <span style="text-align: justify;">Nowadays, many businesses are studying how <a href="https://agilie.com/blog/enterprise-blockchain-development-how-businesses-derive-benefits" target="_blank" rel="noopener">enterprise blockchain development</a> can </span>improve their operations.</p>
<p><span id="docs-internal-guid-472b7e6f-7fff-cc7f-585e-96d452017ac3"></span></p>
<p dir="ltr">Here are a few examples:</p>
<p dir="ltr"><strong>Healthcare:</strong> Blockchain can guarantee the safety of medical records storage and sharing. Thus, they are only available to authorized personnel and patients and lead to quicker diagnosis and treatment.​</p>
<p dir="ltr"><strong>Financial Services:</strong> Blockchain is a viable solution for international payments, real-time settlements, and improving transaction transparency and security.</p>
<p dir="ltr"><strong>Digital Identity:&nbsp;</strong> Blockchain can correct identity theft and fraud by adding digital identities that cannot be changed. For example, Estonia's e-Residency program is the first of its kind, a government-issued digital identity that allows entrepreneurs from anywhere in the world to operate and conduct business online in the EU.</p>
<p dir="ltr" style="text-align: justify;"><strong>Real Estate:</strong> Blockchain can simplify property transactions such as sales, leasing, and financing by reducing paperwork and improving transparency.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/the-evolution-of-blockchain-from-bitcoin-to-business-applications" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280829344.png" width="100%" height="100%" /><span class="incut--text">Learn more about the evolution of Blockchain from Bitcoin to business applications.</span></a></p>
<h2 dir="ltr">Myth 2: Blockchain Transactions Are Always Anonymous</h2>
<p dir="ltr">A frequent mistake people make about blockchain technology is that it is automatically anonymous to its users. However, the truth is more nuanced. Blockchain transactions are not strictly anonymous but pseudonymous.</p>
<p dir="ltr">Pseudonymity means that a user's identity is not directly tied to their blockchain transactions but rather to a digital pseudonym, typically a public key or a blockchain address. These addresses are like a sequence of letters and numbers, giving privacy but not total anonymity.</p>
<p dir="ltr">In contrast, anonymity would mean that the transactions are entirely disconnected from any identity, even a pseudonym, making them untraceable to the user. Blockchain does not usually provide this level of anonymity because the transaction history of each blockchain address is visible to anyone who accesses the blockchain.</p>
<p dir="ltr" style="line-height: 1.38; text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">Most blockchains are open ledgers, meaning that all transactions are visible to anyone who wishes to view them. This level of transparency ensures that while users' identities are not directly exposed, their transaction histories and patterns can be analyzed.<span style="font-size: 11pt; font-family: Roboto, sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-position: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"> </span><span id="docs-internal-guid-c8674fbb-7fff-173a-3f3d-9882e492f23a" style="text-align: start;"></span></p>
<p dir="ltr" role="presentation"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280901953.png" /></p>
<p dir="ltr">While basic blockchain transactions offer pseudonymity, several enhancements and tools can increase privacy:</p>
<p dir="ltr"><strong>1. Mixing Services:</strong> Services like CoinJoin allow multiple users to combine their transactions into a single transaction with multiple inputs and outputs. This mixing blurs the traceability of any single coin, making it more difficult to link wallets with identities.</p>
<p dir="ltr"><strong>2. Privacy-Focused Cryptocurrencies:</strong> Some cryptocurrencies, like Monero and Zcash, are designed specifically to enhance privacy. Monero uses ring signatures and stealth addresses to hide the transactions&rsquo; origins, amounts, and destinations. Zcash allows users to shield transactions completely through its zk-SNARKs technology, which enables transactions to be verified without revealing the sender, receiver, or amount.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-f6cb6e39-7fff-8fd8-9fd0-26fe5c883950"><strong>3. Use of Multiple Addresses:</strong> Users can increase their privacy by using multiple wallets or addresses, dispersing their transactions across several points, which makes it more challenging to link them to a single identity.</span></p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/blog/blockchain-tech-trends-how-to-stay-ahead-of-the-curve" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716280997458.png" width="100%" height="100%" /><span class="incut--text">Explore key blockchain technology trends and stay ahead in its innovation with insights and practical examples.</span></a></p>
<h2 dir="ltr">Myth 3: Blockchains Are Unhackable</h2>
<p dir="ltr">The idea that blockchains are completely unhackable is a frequently held misconception that can cause a dangerous level of complacency in security measures. While blockchain technology does offer robust security features, it is not immune to vulnerabilities. Knowing the security features employed and the situations in which breaches happen is very important for anyone who wants to use blockchain for their business.</p>
<p dir="ltr">Blockchain technology secures data through several mechanisms:</p>
<p dir="ltr"><strong>Cryptography:</strong> Every transaction on a blockchain is secured using cryptographic algorithms, which ensure that data can neither be altered nor read without the appropriate cryptographic key.</p>
<p dir="ltr"><strong>Decentralization:</strong> By distributing copies of the ledger across a network, blockchain reduces the risk of a single point of failure that could compromise the entire system.</p>
<p dir="ltr" style="text-align: justify;"><span id="docs-internal-guid-b11010c4-7fff-1a1a-ce63-614d99637ccb"><strong>Consensus Protocols:</strong> Blockchains use various consensus mechanisms, like Proof of Work (PoW) or Proof of Stake (PoS), to agree on the validity of transactions. These protocols prevent a malicious actor from changing even a single aspect of the blockchain.</span></p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281102044.png" width="100%" height="100%" /><span class="incut--text">Learn more about our blockchain software development services.</span></a></p>
<p dir="ltr">Despite these security measures, there are scenarios where blockchains can and have been compromised.</p>
<h3 dir="ltr">Scenarios Under Which Breaches Have Occurred</h3>
<p dir="ltr"><strong>51% Attacks:</strong> This type of attack happens when a single entity gains control of more than 50% of the network&rsquo;s mining hash rate or stake, allowing them to manipulate transactions and potentially double-spend coins.&nbsp;</p>
<p dir="ltr"><strong>Code Vulnerabilities:</strong> <a href="https://agilie.com/blog/secure-smart-contract-design-best-practices-in-solidity-programming" target="_blank" rel="noopener">Smart contracts</a>, which are self-executing contracts with the terms directly written into code, can contain vulnerabilities. One of the most famous incidents is the DAO attack on the Ethereum network. Hackers exploited a vulnerability in the DAO (Decentralized Autonomous Organization) smart contract code to siphon off one-third of the DAO&rsquo;s funds.</p>
<p dir="ltr"><span id="docs-internal-guid-7785ebac-7fff-06ee-6f06-69621bbdcfd6"><strong>Phishing and Social Engineering:</strong> End-user security is often the weakest link in a blockchain system. Phishing attacks can allow attackers access to blockchain assets, bypassing network security measures, to steal private keys or wallet credentials.</span></p>
<p dir="ltr" role="presentation"><img src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281254703.png" /></p>
<h2 dir="ltr" style="text-align: justify;">Conclusion</h2>
<p dir="ltr">The blockchain technology is often seen as highly popular and muddled at the same time.&nbsp; Falsified myths are only part of the misconceptions that can mislead such a fantastic technology. Similarly, proper professional knowledge and strategy can help blockchain perform to its potential in various fields.&nbsp;<span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;"><a href="https://agilie.com/blog/your-own-cryptocurrency-from-scratch-everything-you-need-to-know-to-create-your-cryptocurrency" target="_blank" rel="noopener">Building your own cryptocurrency</a> can be a strategic move for businesses seeking to innovate and tap into new digital markets.</span></p>
<p dir="ltr">At <a href="https://agilie.com" target="_blank" rel="noopener">Agilie</a>, we understand that dealing with a complex environment is also a significant challenge. This is why we create powerful blockchain systems and wish to educate our clients regarding the breadth of blockchain-utilizing services. Therefore, such solutions can be tailored to your industry's concrete necessities and problems.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-delay: 0s;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="height: 344px; width: 778px;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1716281316627.png" width="100%" height="100%" /><span class="incut--text">Contact us to find out how our blockchain development services can help you achieve your goal.</span></a></p>

<p><span style="text-align: justify;">Discover the truths about blockchain technology as we debunk common myths and clarify its applications to empower businesses with informed integration.</span></p>

Discover the truths about blockchain technology as we debunk common myths and clarify its applications to empower businesses with informed integration.

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<p dir="ltr" style="text-align: justify;">Nowadays, blockchain reshapes the functionality of the fintech industry, invoking a significant interest in institutions that work with financial operations directly. We&rsquo;re talking about accounting, which starts integrating blockchain technology to its daily operations.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Accounting is a noticeable area for blockchain innovation due to the significant improvements it can present. Businesses experience growth of interest in secure financial operations. The elimination of a single-point failure and cryptographic encryption can reduce the dependency on the centralized intermediary and protect financial transactions by improving security and economizing protection costs simultaneously. The article analyzes what is blockchain used for in accounting and its benefits.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>How Blockchain Is Transforming Accounting</strong></h2>
<p dir="ltr" style="text-align: justify;">As a distributed and public ledger, blockchain benefits versatile fintech and business branches due to its possibility to record transactions that cannot be altered. The impact of blockchain in accounting is significant as it eliminates manipulations with records and minimizes human errors. We&rsquo;re going to focus on fraud prevention and error detection capabilities of blockchain in accounting.&nbsp;</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/blog/the-role-of-cryptography-in-blockchain-security" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1739370419274.png" width="100%" height="100%" /><span class="incut--text">In this article you can learn how cryptography makes blockchain safe and the consensus mechanisms its work is based on.</span></a></p>
<h3 dir="ltr" style="text-align: justify;"><strong>Fraud Prevention</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain undermines the pain point of fraudulent actions through immutability and security.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Immutability</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">As stated above, the transaction is recorded, while the record is immutable. This is important for accounting to fraud prevention because it makes it difficult for fraudsters to manipulate revenue or conceal expenses.</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Safety</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Authorized parties can access a real-time ledger, proving that blockchain can reduce the likelihood of fraudulent reporting. The auditors can cross-check the transactions in real-time, which greatly reduces the risk of any manipulations in the financial statements.</p>
<p dir="ltr" style="text-align: justify;">Moreover, with triple-entry accounting, the blockchain makes it hard&ensp;to commit double-entry fraud. Transactions are cryptographically linked and recorded in the distributed&ensp;ledger, making identifying fraudulent actions easier.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Error Detection and Overcoming</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain helps to identify common human-factor mistakes and helps overcome them via smart contracts and AI integration.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Human Errors within Data Entry</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Blockchain helps resolve issues like incorrect figures or duplicate entries. Multiple parties validate the transduction cryptographically prior to recording. Smart contracts will automate the transactions, minimizing human input.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Duplicate Transactions</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Blockchain can help prevent accidental duplication of invoices, expenses, or payroll payments based on the correct realization of smart contracts or transaction control systems. The chances of record duplication are reduced as each transaction gets a unique cryptographic signature. Blockchain&rsquo;s task is to ensure a real-time reconciliation by underlining the duplicate entries.&nbsp;</p>
<ul style="text-align: justify;">
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation"><strong>Transaction Misclassification</strong></p>
</li>
</ul>
<p dir="ltr" style="text-align: justify;">Another human error in accounting is assigning the wrong category for revenue, expenses, or&ensp;liabilities, which results in erroneous financial statements. Smart contracts and AI analyze transactions and mark inconsistencies, while the immutable ledger ensures proper classification.</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Key Benefits of Blockchain in Accounting</strong></h2>
<p dir="ltr" style="text-align: justify;">Accounting organizations can optimize their record processing, minimize fraud, and economize financial input by integrating blockchain technology. Let&rsquo;s analyze the advantages of blockchain in accounting into the following categories.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Transparency</strong></h3>
<p dir="ltr" style="text-align: justify;">The blockchain works on the distributed ledger that instantly&ensp;records any transactions and displays them to authorized users. The immutable ledger eliminates the possibility of changes and is deleted once the finance-relevant operation is recorded. Finally, one of the key benefits blockchain brings to accounting is the absence of dependency on centralized units. All the required stakeholders and auditors are independent in verifying transactions.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Security</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain and accounting are intertwined based on security intensification. Now, let&rsquo;s analyze how exactly blockchain helps accounting improve the security of its operations.&nbsp;&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Blockchain assists accounting services in preventing and reducing fraudulent activities due to the cryptographic security mechanisms that protect against unauthorized access. Another way of supporting safety in accounting is securing financial data through advanced cryptographic encryption. Blockchain can prevent unauthorized alterations in the transactions via the consensus mechanisms that verify and record those operations.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Finally, as in blockchain, there is no need to rely on a third party; decentralized storage minimizes the risks of cyberattacks. For instance, Deloitte relies on machine learning in blockchain that helps check, mark anomalies, and set a risk rate for the transaction.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Nevertheless, it is important to remember the existing threats of cyber attacks on the users&rsquo; non-custodial wallets, smart contracts, and network nodes. The intermediary can store data in a centralized server, making it vulnerable to a single-point attack, while in the blockchain, decentralized storage eliminates this single-point failure and reinforces tamper resistance, making the records immutable based on the blockchain hashing.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Efficiency</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain in accounting applies smart contracts that automate financial transactions. Manual intervention and processing are not required. The ledger facilitates real-time financial reporting, so&ensp;there are no delays in data processing. The distributed nature of the ledger allows auditors to determine if the transaction was legitimate. Overall, blockchain improves the efficiency of accounting services by minimizing the need for repeated data entry, which minimizes human errors.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Cost Savings</strong></h3>
<p dir="ltr" style="text-align: justify;">Blockchain minimizes overhead and manual transaction processing by excluding the dependency on third parties and eliminating the need to perform manual audits.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Blockchain favorably affects compliance costs by ensuring automatic alignment with accounting regulations. Finally, blockchain minimizes costs associated with error corrections and fraud detection.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;"><strong>How Can Blockchain Be Used in Accounting?</strong></h2>
<p dir="ltr" style="text-align: justify;">Indisputably, the organization specializing in accounting can benefit significantly from integrating a decentralized ledger due to improved security, optimized time, and efficiency in verifying and operating transactions. But what are the practical examples of blockchain in accounting? Let&rsquo;s clarify.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Auditing and Assurance</strong></h3>
<p dir="ltr" style="text-align: justify;">Traditional accounting depended on third-party confirmations to check and verify whether the financial record was legitimate. Audits were time-consuming due to manual proceeding and verification. Blockchain functionality is based on the smart contract, which benefits audit compliance. It is possible to pre-program specific financial processes to follow audit rules automatically. Auditors don&rsquo;t have to wait for periodic reports. Instead, they can access data in real time.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Tax Compliance</strong></h3>
<p dir="ltr" style="text-align: justify;">Traditional manual tax management faced the challenges of income misreporting or purposeful dedication, which led to tax evasion and non-compliance. Here on, tax audits can be time-consuming to complete.</p>
<p dir="ltr" style="text-align: justify;">Integrating blockchain into accounting can eliminate invoice falsification. Smart contracts can automate the process of invoice verification in real-time prior to processing the tax claim. However, the correctness of data depends on the source information checked by the accountants. The immutable ledger ensures no record can be altered, eliminating the manipulation of tax-relevant data. Finally, due to the integration with the API of tax offices, smart contracts can calculate and file tax automatically based on recorded transactions.&nbsp;</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Payroll Management</strong></h3>
<p dir="ltr" style="text-align: justify;">Payroll management encountered the dilemma of ghost employees who could divert and manipulate funds. Implementing blockchain technology in accounting can eliminate potential fraudulent actions in the following ways. Smart contracts can contribute to payroll automation by the automatic proceedings over the salaries only when the predefined conditions are met. Secondly, in blockchain, the payments will be analyzed only when the ID of the verified worker matches with the work records. The next point is that blockchain ensures the records are tamper-proof, meaning that no insider can manipulate the payroll records.</p>
<h3 dir="ltr" style="text-align: justify;"><strong>Supply Chain Finances</strong></h3>
<p dir="ltr" style="text-align: justify;">The accounting organizations faced the problem of delayed payments from suppliers. The issue emerged because of the prolonged manual invoice verification. Moreover, manual reconciliation between vendors and clients delayed accounting processing. As blockchain provides real-time reconciliation, it can be integrated to eliminate the presented problems. This translates to real-time transaction recordings, removing the need to carry out manual reconciliation. One of the examples of blockchain in accounting is EY&rsquo;s blockchain analyzer reconciler applied to reconcile and match transactions. The approval of received items stimulates automated payment processing, which eliminates data manipulations, providing accounting with real-time financial tracking.&nbsp;</p>
<h2 dir="ltr" style="text-align: justify;"><strong>Agilie, Your Reliable Partner</strong></h2>
<p dir="ltr" style="text-align: justify;">Agilie is a European IT outsourcing organization that crafts from scratch and optimizes software solutions that align with our clients' boldest ideas. Specializing in fintech, mobile banking, and payment solutions, our software benefits multiple industries, including fintech, marketing, logistics, healthcare, real estate, etc. We aspire for client-centricity by aligning with the client&rsquo;s unique needs and embedding them into effective and time-preserving SDLC-based product development.&nbsp;</p>
<p dir="ltr" style="text-align: justify;">Our&nbsp;<a title="blockchain software services" href="https://agilie.com/expertise/fintech/blockchain-software" target="_blank" rel="noopener">blockchain software services</a>&nbsp;include:&nbsp;</p>
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<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Blockchain Development</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">NFT Crafting</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Smart Contract Development</p>
</li>
<li dir="ltr" aria-level="1">
<p dir="ltr" role="presentation">Decentralized Finance Development</p>
</li>
</ul>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/success-stories" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1739370581892.png" width="100%" height="100%" /><span class="incut--text">Gain insights into the versatility of our tech experience with Agilie Success Stories.</span></a></p>
<h2 dir="ltr" style="text-align: justify;"><strong>Conclusion</strong></h2>
<p dir="ltr" style="text-align: justify;">The article answered the question of how is blockchain used in accounting by demonstrating its advantages and use cases. Blockchain technology excludes the reliance on intermediaries and streamlines efficiency by minimizing manual reconciliations and ensuring security and cost-effectiveness.</p>
<p dir="ltr" style="text-align: justify;">Smart contracts automate the transaction verification process, can prevent data falsification, and, by operating on decentralized storage, will make sure that no single entity will have control over the financial records and operations. Therefore, it is important to collaborate with skilled IT professionals who can integrate blockchain technology into your system to ensure the security and integrity of your accounting processes.</p>
<p dir="ltr"><a class="incut--wrap" style="transition-property: all;" href="https://agilie.com/contacts" target="_blank" rel="noopener" aria-label="incut"><img style="float: left;" src="https://d3pxw3l8cozu05.cloudfront.net/images/f9e66e179b6747ae54108f82f8ade8b3c25d76fd30afde6c395822c530196169-1739370637771.png" width="100%" height="100%" /><span class="incut--text">Don&rsquo;t hesitate to contact us if you want to integrate blockchain into your accounting services.</span></a></p>

<p style="text-align: justify;">Delve into the cases of how is blockchain used in accounting, including its benefits and examples.&nbsp;</p>

Delve into the cases of how is blockchain used in accounting, including its benefits and examples.