Blockchain and smart contracts are among the most exciting technologies used in the fintech, insurance, real estate, government, and healthcare sectors. Truly, any other sector which stands to benefit from self-executing contracts and the transparency that comes with them is probably already using blockchain. Like any new, exciting, and innovative technology, though, there are certain barriers to entry that those who are new to blockchain and other decentralized technologies need to face and overcome. Such obstacles can be intimidating—even prohibiting—to someone who is interested in developing smart contracts, decentralized applications (dApps), and other Web 3.0 opportunities. We think that's a shame. One of the great solutions available to anyone interested in developing on the blockchain are low-code platforms. Let's take a closer look at why.
Before we get too deep into the advantages of low-code and the development platforms they make up, we must first define what exactly low-code is. Low-code is a software developmental method in which user can create applications with little coding and no need to master C#, C++, Java, Python, or any other coding language. Unlike traditional development, which requires experts to handle coding, the low-code method allows users to create apps through a graphical user interface (GUI) and simple drag-and-drop mechanics. Contrast this with no-code methodology, which does little to create empowered analysts.
So, what are the benefits and advantages of using a low-code platform for smart contract development? In fact, they are numerous.
We alluded to the first advantage early on in this post. Low-code development allows for a lower barrier to entry. With the emergence of low-code, anyone with a good idea can start developing, so you don't need to be an expert to start realizing your decentralized dreams.
Second, developing on a low-code platform accelerates development and rapid prototyping. Because of the low-code, drag-and-drop approach, there is little opportunity for the code to hide the flaws and errors "high-coding" often hides within the code leading to a prolonged troubleshooting phase. Once you become familiar with the ins and outs of the platform, you can start developing your smart contracts in minutes. And, should you then become more comfortable with the complexities of coding, low-code platforms allow you to go in over the top for added functions and complications. This saves the expenses associated with laborious development, and/or hiring and communicating with an expert coder.
Low-Code blockchain development platforms use a drag-and-drop user interface to make development accessible to students and experts alike.
Continuing this theme of how low-code saves resources, these platforms reduce the burden of software maintenance by minimizing the work of day-to-day development and upkeep. With standardized, pretested, and ready-made component, fewer bugs and integration issues to deal with and resolve.
Let's now take a higher altitude look at the advantages of low-code. We discussed it above, but the rise of low-code platforms—be they templated webpage designs from web publishers like WordPress or drag-and-drop smart contract development like one of our offerings—has led to the rise of empowered analysts and the greater democratization of software development. Low-code development bridges the gap between IT departments and business teams so both can solve real issues that impact the company. Business teams have the opportunity to get hands-on, developing their own applications without the need to wait for developers.
Low-code platforms are often viewed as the future of application development as they are playing an increasingly crucial role in speeding up development. Predictions indicate that by 2023, over half of medium to large enterprises will have adopted a low-code platform as one of their strategic application platforms and that low-code will be at the heart of more than 65% of application development by 2024. So, if you want to be part of the low-code revolution, SIMBA has what you need!