The latest Shopify news involves the [e-commerce platform's partnership with Novel](https://www.novel.com/post/novel-has-landed-in-the-shopify-app-store), a no-code Web3 commerce platform, to make Web3 technologies more accessible and approachable to all merchants.

[The Novel](https://www.novel.com/) is a commerce platform powered by [Web3](/news/article/uquid-web3-integrates-with-polygon) technology. According to the partnership, the company will release an app that will provide merchants with the necessary features to immerse them in the Web3 experience.

In Shopfy news, commerce platform Novel launched an app in the Shopify App Store as part of the partnership. It gives existing vendors the tools they need to try out Web3 technologies in e-commerce without having to learn new skills or spend a lot of time and money.

The Novel Shopify app's primary functions are minting and distribution, and utility.

The minting and distribution feature allows users to create artwork for a new collection of NFTs or upload artwork from an existing series. The app then utilises [smart contracts](/news/article/smart-contracts-blockchain) over the collection and sells them to users via the Shopify storefront. When a customer purchases an NFT, the app will automate the currency bridge and create a cryptocurrency wallet for that customer.

On the utility front, Novel enables token-based utility on merchants' Shopify storefronts, including brands and creators. This covers ERC-20 gating, cross-chain gating on [Solana](/news/article/solana-price-gbp), Ethereum, and [Polygon](/news/article/polygon-nft-drops-2022), token-gated discounts, URLs, and products.

Sharing the details, Novel's CEO and co-founder said that by collaborating with the e-commerce giant, they could leverage the leading platform and provide merchants with the tools they require to enter the advanced ecosystem.

The Shopify Novel app is an all-in-one tool that allows retailers to add use cases to their NFT collections via token-gating.

## Web3 ecosystem - The new goldmine

Novel CEO Roger Beaman, commenting on the Shopify news, said the partnerhsip will allow them to infuse Web3 capabilities into the already-built ecosystem. In this way, they meet the fundamental needs of merchants interested in joining the ecosystem.

One of the new app's tools is the token gating feature, which allows merchants to add use cases to their platform collections. This feature will let merchants take advantage of many of the platform's benefits. They include gateways for chains such as Ethereum, Solana, and others.

Over the last few years, businesses have started moving into the Web3 ecosystem. This is because most traders are embracing new technologies, and companies are looking for ways to help them make money.


Shopify News: Partnership with Novel

Neo is an open-source and decentralised smart contract network launched as Antshare in 2014 by Erick Zhang and Da Hongfei. It rebranded to Neo network in 2017, after the launch of its mainnet in 2016.

As a smart contract network, it enables developers to build decentralised applications (dApps) for various uses. It also features other services, including oracles, domain name service, decentralised file storage, and an identity system.

## NeoContract

[NeoContract](https://medium.com/neo-smart-economy/a-deep-dive-into-neovm-neocontract-e470c2c3afb0) is the blockchain’s [smart contract](/news/article/smart-contracts-blockchain) system. It is independent and helps with transaction validation, token sales, and the development of dApps. It consists of;

•	NeoVM: A decentralised virtual machine where smart contracts are executed.

•	NeoContract APIs: Sets of interfaces that enrich smart contracts with practical and powerful functionality.

•	Software Development Kit (SDK): a combination of applications and plugins that ease the development process of smart contracts.

Neo network’s smart contracts stand out because developers do not need to learn a new programming language to create them. Developers can use a variety of common programming languages, including C#, Java, and Python to create the contracts.

## Consensus mechanism

The Neo network is secured by the delegated Byzantine Fault Tolerant (dBFT). This consensus mechanism works more or less like the delegated proof of stake (DPoS).

How it works is that dBFT employs a real-time voting system that determines the nodes to create the next block on the blockchain. Holders of the blockchain’s token stake or lock up a portion of their coins to vote for the consensus nodes that will create blocks and get the block reward.

## Tokens

The blockchain has two native tokens, NEO and GAS. NEO has two uses, with more on the way. Holders can use them to vote for various changes. The tokens can also be used to claim GAS. Staking NEO allows holders to get a portion of the block reward paid in GAS. GAS is used to access the network’s services.

Both tokens have a max supply cap of 100 million coins. According to Coinmarketcap, there are currently [70,538,831](https://coinmarketcap.com/currencies/neo/) NEO coins and [10,128,375 GAS coins](https://coinmarketcap.com/currencies/gas/) in public circulation.

Each NEO coin, as of writing, is worth $8.85 and ranked 65th largest cryptocurrency by market cap. Each GAS coin is worth $2.29 and is ranked the 553rd largest cryptocurrency by market cap. Both coins are available for purchase in many exchanges, including major ones like [Binance](/news/article/binance-staking), KuCoin, and OKX.

Neo offers a lot to its users. Its services, which range from smart contract functionality, oracles, and domain name service, to decentralised file storage, enable it to be a great blockchain-based service provider in the crypto space. With the N3 upgrade on the way, the network is poised to get even better.


Neo Network: China’s Ethereum

[Brickblock](https://icoholder.com/en/brickblock) allows consumers to invest in various tradable assets regardless of their investment portfolio size. Following each investment, users receive an asset-backed token with a unique denomination. Tokens trade more on cryptocurrency exchanges than on stock exchanges. Users can also redeem assets in the Digital Trust at any moment.

## The technology used by Brickblock crypto 

Brickblock will build a smart parent contract that will allow any subsequent contacts between fund managers and investors to form. Their idea is that one day, they will verify the fund manager and provide them with an access token to configure specific settings. After that, the fund manager can create his affiliated [smart contracts](/news/article/smart-contracts-blockchain). These smart contracts will be included in the [DApp](/news/article/betfury-crypto-dapp) automatically. By comparing the checksum of the smart parent contract, the user will be able to validate the linked smart contracts. As a result, all smart contracts can be verified and tracked from a single address.

## How many tokens are distributed within Brickblock crypto? 

•             There will be a total of 500.000.000 Brickblock Tokens (BBT). 

•             Within these two phases, 51% dispersed. 

•             Thirty-five % will be in company lockdown for at least three years.

•             Fourteen % will go to early funders, the bounty programme, and the creator. 

## When did the contribution period start?

The donation period is in two stages. The first began on August 2nd, 2017 and ran for five days. The second stage lasted four weeks, starting in late September. The Brickblock [Tokens](/news/article/metaverse-gamefi-trend) (BBT) quantity is lowered by 25 BBT per Ether daily (ETH). 

They provided just enough resources for the second run. Following the first phase, more emphasis was placed on community effort and making Brickblock more usable to the non-financial and non-technical audience.

Users can make contributions in ETH, BTC, and LTC. Following the four-week distribution period, they will burn all unsold tokens. Allowing people to trade crypto and real-world assets positively influences public opinion on the crypto world. 




Functions and features of Brickblock crypto

If you don't know, "smart contracts" are self-executing contracts with predetermined rules. They are stored on the blockchain and can be used to automate the exchange of money, property, shares, or anything of value. Smart contracts are created using programming code, and once uploaded to the blockchain, they become immutable and irreversible.

## All About Smart Contracts

The term "smart contract" is understood as a computer protocol used to facilitate, verify, or enforce a contract. They can be used to track assets throughout their lifecycle, from creation to destruction.

Nick Szabo first proposed smart contracts in 1996 as a way to enable secure transactions without the need for third-party intermediaries. Today, smart contracts are used to streamline various business processes, from supply chain management to land registry.

The use of smart contracts can help to reduce costs, speed up transaction times, and increase transparency. Traditionally, when buying a car from a dealership, you would need to sign a contract and then make a payment to the dealership. With a smart contract, you could instead send your payment directly to the smart contract.

The smart contract would then release the funds to the dealership once the car has been delivered. This kind of transaction is more efficient and reduces the chances of fraud or dispute.

## How Smart Contracts are Changing the Blockchain Landscape

Smart contracts are important innovations in the blockchain space. By allowing for the execution of contracts and transactions without the need for a third party, smart contracts are set to revolutionise how we do business.

For example, smart contracts streamline supply chains, ensuring that goods are delivered on time and that payments are made promptly. They can also be used to create immutable records of transactions, preventing fraud and protecting data.

In addition, smart contracts can be used to create Decentralised Autonomous Organisations (DAOs), which are autonomous organizations that do not have a single entity in control.

The possibilities for smart contracts are endless. They are already starting to change the way we think about blockchain technology.

## Businesses Already Using Smart Contracts

Smart contracts are quickly becoming a popular tool in many different industries. They allow businesses to streamline a wide range of processes, reduce costs, and securely store and transmit data. Some examples of businesses already using smart contracts include online retailers, financial services providers, transportation companies, and healthcare providers.

Online retailers like Amazon use smart contracts to facilitate secure payments between buyers and sellers. With smart contracts, shoppers can purchase items quickly and easily without going through the intermediary of a payment processor like [PayPal](https://www.paypal.com/im/home) or Visa. This reduces costs for merchants and helps to ensure that transactions are faster and more secure.

Similarly, financial services providers are also turning to smart contracts to streamline processes within their organisations. For example, investment firms can use smart contracts to automate the transfer of assets among different parties, thereby maximizing efficiency and minimising the potential for errors or delays.

Likewise, insurance providers can use smart contracts to automate the management of payouts in the event of claim settlements or damage assessments. Overall, it is clear that smart contracts have vast potential to improve businesses across all industries.

## The Future of Smart Contracts

They are an integral part of blockchain technology, serving as the foundation for all transactions on the blockchain. These contracts use programming logic to execute various actions, from completing simple tasks like tracking payments to complex operations such as updating smart property records.

The advantages of smart contracts are numerous, ranging from increased security and efficiency to streamlined processes and decreased transaction costs. As the technology continues to develop, smart contracts seem poised to play an increasingly important role in the future of the blockchain.

Whether used for financial, legal, or other purposes, smart contracts will be crucial in powering smarter and more connected systems worldwide. 

Given their growing popularity and significant potential benefits, it seems likely that smart contracts will only become more prevalent in years to come.


Smart Contracts are Revolutionising Blockchain

Smart contracts are a fascinating aspect of blockchain technology. They are self-executing contracts that use code to enforce the terms of an agreement automatically.

This makes them incredibly useful for various applications, and they are starting to gain traction in several industries.

This blog post will explore what smart contracts are and how they work in the blockchain!

## Defining Smart Contracts

A blockchain is a decentralised, spread database used to store data across a peer-to-peer network. The data is stored in blocks, and each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

[Bitcoin](/coins/btc), the first and most well-known blockchain application, uses blockchain technology to create a global payment system that is secure and transparent.

They are perhaps most easily explained as self-executing contracts written in code and stored on the blockchain. A smart contract contains all of the terms and conditions of an agreement, and once the conditions of the contract are met, the contract automatically executes the agreed-upon actions.

Smart contracts are used for many purposes, including financial transactions, voting, and asset management. Being on the blockchain means they are secure and transparent. Smart contracts could revolutionise the way we interact with each other and do business.

## How Do Smart Contracts Work in the Blockchain Ecosystem?

A blockchain is a decentralised, distributed ledger that records transactions in a public or private network. Smart contracts are digital agreements stored on the blockchain and are automatically. Being stored on the blockchain makes smart contracts tamper-proof and transparent.

The contract terms are written in code, and the contract is executed automatically when the conditions of the contract are met.

Smart contracts can also be used to create tokenized assets, such as loyalty points or digital certificates. Smart contracts are often used in conjunction with blockchain-based applications, such as [Decentralised Autonomous Organisations (DAOs)](https://www.investopedia.com/tech/what-dao/).

DAOs are organisations that are run by code, and they use smart contracts to automate decision-making and governance. By using smart contracts, DAOs can operate without a central authority or control.

## Use Cases for Smart Contracts

The defining feature of a smart contract, a computer protocol that enables blockchain-based transactions, is that it can automatically execute the terms of an agreement between two or more parties.

This makes them well-suited for use cases where there is a need for trustless, tamper-proof transactions, such as exchanging money, property, or other assets.

In addition, smart contracts can be used to create decentralized applications (dApps). dApps are programs that run on a blockchain and are not controlled by any single entity. They are often open-source and allow anyone to participate in their development and use.

There are numerous use cases for smart contracts and dApps, ranging from financial services to supply chain management. As the technology evolves, even more innovative use cases will likely emerge.

## The Future of Smart Contracts

Elimination of paper documents and the automation of repetitive tasks means that smart contracts can help to streamline operations and reduce costs.
At the same time, blockchain technology can provide a level of security and transparency that is not possible with traditional contracts.

As a result, smart contracts are likely to play a major role in the future of business. While there are challenges to overcome, such as scalability and regulatory compliance, it is clear that they could shift the way we do business for the better.


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