In this guide, we cover the basics of Polygon smart contract development, taking through the setup step by step. With this, you can write and deploy your own crypto from scratch. No previous coding experience is required to join the web3 revolution.
What are smart contracts in blockchain?
Smart contracts are blockchain-based software programs that run once predetermined requirements are met. As such, it is a class of software that automates the execution, control, and documentation of some actions.
Ideologically, smart contracts are agreements between two or more parties. They work in a 100% trustless manner, so there’s no opportunity for either party to cheat on the opponent.
Smart contracts are key elements of all crypto economics, including DeFi protocols, NFTs, exchanges, wallets, etc. Basically, every application of the mentioned type represents a combination of smart contracts.
What are the main types of smart contracts?
Basically, there are three types of smart contracts designed to address various business and social needs.
- Legal smart contracts. These smart contracts represent programs with “once A happens, B will follow.” Users can automate digital will contracts or agreements between two parties about business transactions with these contracts.
- Decentralized autonomous organizations or DAOs. This type of smart contract enables decentralized governance. For instance, in DAO-governed protocols, holders of specific tokens can approve or reject upgrading business strategy.
- Application logic contracts or ALCs. This is the largest smart contracts category: it supercharges every business logic with the power of blockchain. ALCs can initiate the launch of this or that device via off-chain transactions, and so on.
Smart contracts are flexible and feature-rich instruments of a decentralized economy.
Which blockchain supports smart contracts?
Smart contracts can be deployed to programmable blockchains. Launched in 2015, Ethereum was the first blockchain of this type. Programmable blockchains are also called “smart contracts hosting platforms.”
Ethereum smart contracts
Despite the competition in the smart contracts segment growing recently, Ethereum remains the largest smart contracts platform. Its contracts are written on Solidity, which is a version of JavaScript, a popular programming language.
Solana smart contracts
Smart contracts are called Programs on the Solana chain, just like in web2. Largely, Solana Programs are written in C, C++, and Rust. Solana smart contracts became particularly popular in 2021 amidst the euphoria around the Solana altchain.
Bitcoin smart contracts
Being a non-programmable blockchain, Bitcoin doesn’t support smart contracts “by default.” However, some projects attempt to use it as the security layer for smart contract development.
For every blockchain that supports smart contracts, developers can build applications via private RPC nodes.
What is Polygon?
Initially introduced as a second-layer scaling platform for Ethereum, Polygon evolved into the largest blockchain on Ethereum Virtual Machine and a go-to technical solution for DeFi.
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Polygon: The blockchain
Polygon was launched in 2017 as Matic Network by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. Initially, it attempted to scale Ethereum, i.e., to help it overcome its transaction throughput limitations.
In February 2021, the chain re-branded to Polygon and switched towards building a web3 hub with a focus on DeFi and metaverses. The company acquired a number of blockchain startups to create a holistic ecosystem of web3 solutions.
Polygon employs modified proof-of-stake (PoS) consensus as a core element of its decentralized mechanism.
Polygon: The ecosystem
Currently, Polygon is a home for almost 1700 decentralized applications of various categories: DeFi, NFT marketplaces, exchanges, and so on. As of Q2, 2023, it has almost $1 billion in total value locked (TVL) across its various apps.
Polygon: First viable zkEVM
In 2023, Polygon launched the first-ever fully EVM-equivalent network powered by zero-knowledge technology, zkEVM. It means that developers can run the same code they used for Ethereum, saving up to 100x in network fees thanks to using ZK-rollups.
Polygon’s competitors — zkSync and Starknet — are also building their zkEVM networks in 2023.
How to create Polygon smart contract with RPC node: Brief manual
In this manual, we’re going to develop a smart contract for the Polygon network. This smart contract will represent a crypto wallet address, the standard of addresses for all networks compatible with the Ethereum Virtual Machine.
This manual will be interesting for newbie Solidity developers interested in building their first Polygon contracts. However, the very concepts of Polygon blockchain, Remix IDE, and OpenZepellin will be of interest even to crypto enthusiasts with zero coding experience.
Setting up RPC node and wallet
First of all, we need to set up the RPC node endpoint. Through these endpoints, crypto software is connected to the blockchain. RPC (“remote procedure call”) is a protocol needed to establish a connection to blockchain nodes and read/write blockchain data.
In this demo, we’re going to work with GetBlock, a leading blockchain nodes provider. With GetBlock, creating RPC endpoints takes no special skills.
We need to register an account on GetBlock and authorize it via an email address or MetaMask wallet.
Then, we can create the endpoint itself. Let’s choose “Polygon” as a name of a network, and “Testnet” as a type of network.
Image via GetBlock
By clicking “Get,” we obtain an endpoint that will connect us to Polygon testnet Mumbai.
Now we can integrate this endpoint into the MetaMask wallet (“Settings” — “Add new network”). We need to paste the address of our endpoint to the New RPC URL field and set 80001 as the ID of Polygon testnet Mumbai.
Now we’re almost ready to start creating the code for our Polygon smart contract. You must get some testnet tokens in Mumbai Polygon faucet.
Writing smart contract with Remix
To start creating the contract, we must open Remix, a web-based IDE for EVM smart contract development in Solidity. To start the new project, let’s click on the “Create a new file” tab on the page’s left side.
Then, let’s choose “Storage.sol” as our first sample of smart contracts. To do so, let’s create a new workspace and choose “1_Storage.sol”.
Now, let’s try to deploy an example of the contract. Ensure to refer to the instructions on the developers portal of Polygon. Don’t forget to set “Injected Provider – MetaMask” as a development environment.
Once MetaMask asks you to approve the transaction, do so. Mumbai testnet should be chosen as the storage for the smart contract. Then, the statistics and details of the smart contract (address) can be tracked via blockchain explorers, e.g., Polygonscan.
Is it easy to build smart contracts on Polygon?
Polygon is among the largest smart contracts hosting platforms in web3. Just like Ethereum (ETH), Polygon’s contracts are written in Solidity.
To create smart contracts on Polygon, one must get a reliable connection to the RPC node, set up a MetaMask wallet, write code based on Remix samples, and deploy it in testnet or mainnet. As such, building smart contracts is available even for users with only basic coding skills.
Frequently asked questions
What is a smart contract?
Does bitcoin support smart contracts?
How to create a crypto token?
Why do we need smart contracts?
What are examples of smart contracts?
About the author
Deen Newman is a renowned crypto tech writer and project manager at GetBlock. Newman has a vast knowledge of blockchain technology and its potential applications. He has been writing for crypto media for more than five years. His in-depth analysis and expert commentary have made him a respected voice in the crypto community.
Deen’s passion for technology and his dedication to staying up-to-date with the latest developments in the field make him a valuable asset to anyone seeking to understand the complex world of cryptocurrency.
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