I'm working on Ethereum ICO project, I studied Solidity and created a test token and deployed to Ethereum blockchain using MetaMask & Etherscan. but I'm not sure how to proceed further. I'm trying to connect different dots to achieve my goal. I have few questions related to ICO:
When launching an ICO, do we need to implement only ERC20 token standards into Smart Contracts or we need to write other logic's as well like how token buyers going to be benefited from this contract?
When investors send Ethers against ICO token, where to store those Ethers or how those Ethers can be managed so later all can be used for further development?
How to revert back Ethers if ICO goal is not reached?
How to transfer tokens to investors if ICO goal is reached?
Do we need Dapp for launching an ICO?
How contract manages tokens reserved for developers?
I studied Truffle but not sure how to use it for ICO launch?
It will be highly appreciated if anybody can guide me by replying all the above questions and share their personal experience launching an ICO.
Thanks in advance.
Its up to you but if you want people to be able to use your token in metamask / other exchanges to implement it you need to use ERC20 token, its tested and everyone knows how to implement
All depends on how you configure the contract but usually the person who lunch the contract will have access to the contract and can transfer the funds ... of course your contract your contract needs to be ownable in order to have such a properties enabled
You can do this by setting your crowdsale contract as RefundableCrowdsale
There is contract for crowdsale and in it, in distribution section you've options to transfer funds, essentially token is just a database with a list of wallets and how much of the wallet they own. meaning you don't really transfer anything and more like recording the name in the contract.
Not necessary, essentially investors just need to send ether to your contract.
I think that could be a a separate contract holding the fund for x amount of time before it gets released. The zeppelin-solidity seems to provide Tokenvesting.sol for this purpose.
Truffle is a framework, using industry standards of how you should deploy a contract it also helps with debugging
I would advice you to go through openzeppelin and by reading it you get a general idea of how everything works - helps with learning solidity
Related
I am new to MetaMask API. I am looking for how to burn a NFT, but I cannot find it in the documentation.
I've seen a post on Stackoverflow similar to what I am looking for, but the burn transaction was done with Solidity. Is there anyway that I can achieve this by using MetaMask API?
Any help would be appreciated.
Thank you so much.
Gary
Metamask's job is to connect you to the networks and provide you with account service. Burning an NFT is calling the burn method written on the contract.
NFT is eventually an ERC721 token, it is a smart contract and if burn functionality is not written, you cannot burn it or kill it.
Burning an NFT effectively destroys the token and removes it entirely from the Ethereum blockchain. On the NFT platform that you are using, there should be an option like "BURN THE TOKEN". Once you click on it, you calling the burn method on the smart contract.
I want to develop a dApp (Smart Contract) on Ethereum and have a mobile application on top of it.
My concern is: every time we interact with Smart Contract to inquiry or change data, we need a account as well as a certain number of ETH used as Gas. It looks no problem on the development environment, but getting into trouble in real life, I mean about user experience (UX).
- Whenever a user download and install the app, we will create for them an Ethereum account. BUT where they can get ETH to interact with Smart Contract? And absolutely, they don't care and don't want to be bothered with exchange ETH.
I have an alternative solution: we have only 1 Ethereum account with some ETH in their and act as the Proxy to the Smart Contract. Whenever user's request come, we delegate the request to Smart Contract and return to user. BUT it seems we will lost the main characteristic of Blockhain: Decentralized :) Who know we might arbitrarily change the Smart Contract without user attention.
Any suggestion is appreciated. Thank you!
You can send some ether to each new user that is just enough to call your contract.
I am working as a consultant on a new ETH based ICO campaign.
The arrangement is that they will pay me with their new tokens they are issuing through their ICO. The problem is, as far as I know, tokens are automatically paid through a smart contract to investors based on their ETH contribution.
I am wondering if there is anyway I can guarantee receiving the tokens? I have had to turn to stack overflow to get an answer, it is incredibly difficult to find relevant, reliable information online.
Are they able to transfer their tokens prior to their ICO to an ether wallet?
Any help would be appreciated!
Yes, you are able to programmatically allocate tokens to individuals without having them contribute ETH to a smart contract. You can guarantee payment by verifying they have allocated their token to your ERC-20 compliant address in their ICO contract.
They would be able to assuming their ICO contract is already deployed and has your wallet address.
I am a newbie and am learning about the blockchain and smart contracts.
So my question is can we add changes(features) to the smart contract code once it has been deployed?
and is it possible to create an ERC 20 token that is based on proof of stake?
Thanks
No, the very foundation of a blockchain is its immutability, meaning that once a set of data is sent to the blockchain, it can never be modified or changed in any way. Therefore, once you push a smart contract to the Ethereum blockchain, it cannot be changed or manipulated in any way.
It's not entirely possible due to the fact that an ERC20 token is embedded into Ethereum's blockchain. So, when miners are mining the Ethereum blockchain, they're essentially mining every ERC20 token as well.
I am learning blockchain technology. I read many tutorials and I got the basic idea of what blockchain is but I am confused with the fact that are there individual separate blockchains for separate DAPPs and the people who are using that DAPP, will only be the part of that DAPP's blockchain and what the blocks in Ethereum blockchain really contain ?
If anyone can clear my novice doubt, that would be very helpful.
Thanks in advance :)
A dApp, which is a decentralized application, may or may not have it's own blockchain. It depends.
For example, there's the Ethereum mainnet, which is public, and anyone can have their dApp interact with it. In this case the dApp doesn't have it's own blockchain.
However, anyone can fork or run their own copy of Ethereum, which in this case, it's a separately owned blockchain instance so it'll have it's down data and blocks not pegged to the public mainnet blockchain.
A DApp is a decentralized Application. This is usually a set made of:
a smart contract (your backend if you like)
some web frontend to interact with it (UI)
A specific smart contract is deployed on one or several chains. It depends what the author decided to do.
Regarding your frontend, you could implement it so it can interact with your smart contract on all the chains you support.
So if your smart contract is deployed on mainnet + testnet for instance, you could write your frontend to support both.
So a given DApp may support multiple chains but an author may also decide to write different Smart Contract + UI depending on the chain it is supposed to run on.
The most basic DAPP you'll write is a (javascript) frontend with a single Smart Contract stored on Ethereum as the backend. A Smart Contract is a Robot Account. It's a regular account WITH code AND storage.
When a transaction hits the Robot Account, the "Ethereum Machine" will start the robot and run its code. Maybe the robot will write to its storage, start other robots, etc. But this is still part of "THE" Blockchain, because it's just a transaction. Slightly more complicated than "move X$ from A to B", but still a simple transaction with a source, target and payload.
There's ONE Blockchain on Ethereum, it's a chain of Block. And a Block is a list of transactions. And a Transaction is a source, target and payload.
Once you start writing more complex DAPPs, maybe Ethereum won't be sufficient anymore. Maybe you need to store large files which is too expensive on Ethereum. That's where you may use other PLATFORMS, that are going to use their own Blockchain.
If you want more implementation details, checkout the Ethereum Yellow Paper:
"The Transaction" is described in section 4.3
"The Block" is described in section 4.4.
Each Smart Contract have their own Merkle Patricia Trie which ressemble a Blockchain but it's more of an implementation detail.
I wrote in more details about how Ethereum Storage works with gas & cost considerations & why you may want to use something else, I hope that can help you.