Smart Contract Registry Cookbook Raises 2M to Create Web3 Developer Support Tools

Imagine you are a developer looking to build the next big thing on the blockchain. You spend weeks researching smart contracts and web3 technology, and finally, you sit down to start coding.

But, as you write your code, you start to notice inconsistencies and errors in some of the smart contract code you are using as a reference. You try to reach out to the authors, but they don't respond.

You are stuck, wasting time and feeling frustrated.

This is a common scenario for many developers in the blockchain space. And this is why the Smart Contract Registry Cookbook's recent $2 million funding round is so exciting.

What is the Smart Contract Registry Cookbook?

The Smart Contract Registry Cookbook (SCRC) is a community-driven effort to create a comprehensive registry of high-quality smart contract code and developer tools.

The goal of the SCRC is to provide a single, reliable source for developers to find and use trusted smart contract code. The registry will be curated by a team of expert developers and auditors, who will review and test each entry to ensure it meets strict quality standards.

Why is This Important?

One of the biggest challenges facing developers in the blockchain space is the lack of reliable, high-quality code and tools.

Smart contracts are essentially self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. They are a fundamental building block of blockchain technology, allowing for decentralization and transparency.

But smart contract code can be complex and difficult to write. Even experienced developers can make mistakes, and these mistakes can have significant consequences. Bugs in smart contract code have led to millions of dollars in losses for investors and users of decentralized applications (dapps).

By creating a comprehensive registry of high-quality smart contract code and developer tools, the SCRC aims to reduce the risk of these types of errors and provide developers with the resources they need to build better, more secure applications on the blockchain.

Quantifiable Examples?

To give you an idea of the impact this initiative could have, consider some of the following statistics:

In 2017, a bug in a popular smart contract called the Parity Multisig Wallet led to the accidental freezing of $150 million worth of ether.
In 2018, a bug in smart contract code used by the dapp Bancor resulted in the theft of $23.5 million worth of cryptocurrency.
Auditing a smart contract can cost anywhere from $5,000 to $50,000, depending on the complexity of the code.
The average salary for a blockchain developer is around $150,000 per year, making it one of the highest-paid tech professions.

These examples highlight the high stakes involved in creating and using smart contract code. The SCRC's mission to create a comprehensive registry of high-quality code and developer tools has the potential to significantly reduce the risk of these types of errors and save developers and businesses significant time and money.

Conclusion

The Smart Contract Registry Cookbook is a community-driven effort to create a comprehensive registry of high-quality smart contract code and developer tools.
The registry will be curated by a team of expert developers and auditors, who will review and test each entry to ensure it meets strict quality standards.
The SCRC's mission to create a reliable source for developers to find and use trusted smart contract code and developer tools has the potential to significantly reduce the risk of errors and save developers and businesses time and money.

References

Hashtags

#smartcontract
#web3
#developer
#supporttools