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How To Issue Your Own Token On Ethereum In Less Than 20minutes.

How To Issue Your Own Token On Ethereum In Less Than 20minutes.

Living The Crypto Future | Building Tenzorum | Making Blockchain Accessible to Everyone. The only way to survive a mad world, is to embrace the madness. How to issue your own token on Ethereum in less than 20minutes. Alright bro, are you telling me that I can issue my own Token, make an ICO, get gazilions of dollars and live the crypto-dream in less than 20 minutes? The answer is yes, but hopefully you will do better than that. With the latest news about the Blockchain, Bitcoin, Ethereum, cryptocurrencies, and ICO popping up left, right and center, this Blockchain business is garnering quite a lot of attention. So Ive put together a tutorial so that you can understand the technology much better and you can become a part of the booming crypto-economy! This is the first of a series of tutorials to help people better understand how to leverage Blockchain technologies and crypto-currencies to build meaningful applications and nurture the network. In this tutorial my objective is to walk you through the steps of setting up your account through to issuing your first token on the Ethereum network using a single smart contract and MyEtherWallet . The token will be a standard ERC20, it will have the main functions and can be used as a general base for more sophisticated applications than just transferring them (many half-serious ICOs have extremely similar contracts) WARNING: With great powers come great responsibilities. Im not responsible for you not being cautious with your ETH, or using these powers for the evil side of force. I truly hope you do good and feel empowered by the potential that this technology puts in the hands of people. There are a few different components you will need in order to build your own token. For this tutorial we will use a test network to issue t Continue reading >>

Ethereum - Wikipedia

Ethereum - Wikipedia

This article has multiple issues. Please help improve it or discuss these issues on the talk page . This article relies too much on references to primary sources . Please improve this by adding secondary or tertiary sources . Some of this article's listed sources may not be reliable . Please help this article by looking for better, more reliable sources. Unreliable citations may be challenged or deleted. The Ethereum Project's logo, first used in 2014 Ethereum is an open-source , public, blockchain -based distributed computing platform featuring smart contract (scripting) functionality. [2] It provides a decentralized Turing-complete virtual machine , the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called "ether", which can be transferred between accounts and used to compensate participant nodes for computations performed. [3] "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network. [2] [4] Ethereum was proposed in late 2013 by Vitalik Buterin , a cryptocurrency researcher and programmer. Development was funded by an online crowdsale between July and August 2014. [5] The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale. [6] This accounts for approximately 13 percent of the total circulating supply. In 2016, as a result of the collapse of The DAO project, Ethereum was forked into two separate blockchains - the new forked version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC). [7] [8] [9] Ethereum was initially described in a white paper by Vitalik Buterin , [10] a programmer involved with Bitcoin Magazine , in late 2013 with a goal of buildin Continue reading >>

What Is Ether?

What Is Ether?

Ether is a necessary element a fuel for operating the distributed application platform Ethereum. It is a form of payment made by the clients of the platform to the machines executing the requested operations. To put it another way, ether is the incentive ensuring that developers write quality applications (wasteful code costs more), and that the network remains healthy (people are compensated for their contributed resources). If you just want to test the technology, you probably don't need real ether. Download the latest Wallet app and switch to the Test Network Check your ether presale balance safely here: The total supply of ether and its rate of issuance was decided by the donations gathered on the 2014 presale. The results were roughly: 60 million ether created to contributors of the presale 12 Million (20% of the above) were created to the development fund, most of it going to early contributors and developers and the remaining to the Ethereum Foundation 5 ethers are created every block (roughly 15 seconds) to the miner of the block 2-3 ethers are sometimes sent to another miner if they were also able to find a solution but his block wasn't included (called uncle/aunt reward) Note that after the Byzantium update is implemented, the mining and uncle reward is reduced to 3 ethers and 0.625-2.625 ethers, respectively. No. According to the terms agreed by all parties on the 2014 presale, issuance of ether is capped at 18 million ether per year (this number equals 25% of the initial supply). This means that while the absolute issuance is fixed, the relative inflation is decreased every year. In theory if this issuance was kept indefinitely then at some point the rate of new tokens created every year would reach the average amount lost yearly (by misuse, accidental key Continue reading >>

How Ethereum Mining Works

How Ethereum Mining Works

Today, miners play an important role in making sure ethereum works. This role isn't immediately obvious, though. Many new users think that the sole purpose of mining is to generate ethers in a way that doesn't require a central issuer (seeour guide" What is Ether? "). This is true. Ethereum's tokens are created through the process of mining at a rate of 5 ether per mined block. But mining also has another at least asimportant role. Usually, banks are in charge of keeping accurate records of transactions. They ensure that money isn't created out of thin air, and that users don't cheat and spend their money more than once. Blockchains, though, introduce an entirely new way of record-keeping, one where the entire network, rather than an intermediary, verifies transactions and adds them to the public ledger. Although a 'trustless' or 'trust-minimizing' monetary system is the goal, someone still needs to securethe financial records, ensuring that no one cheats. Mining is one innovation that makes decentralized record-keeping possible. Miners come to consensus about the transaction history while preventing fraud (notably the double spending of ethers) an interesting problem that hadnt been solved in decentralized currencies before proof-of-work blockchains. Although ethereum is looking into other methods of coming to consensus about the validity of transactions, mining currently holds the platform together. Today, ethereum's mining process is almost the same as bitcoins . For each block of transactions, miners use computers to repeatedly and very quickly guess answers to a puzzle until one of them wins. More specifically, the miners will run the blocks unique header metadata (including timestamp and software version) through a hash function (which will return a fixed-length, Continue reading >>

What Is Ethereum? A Step-by-step Beginners Guide

What Is Ethereum? A Step-by-step Beginners Guide

If you want to know what is Ethereum and how it works and what it can be used for, without going deep into the technical abyss, this guide is perfect for you. Important Note: This guide assumes a basic understanding of blockchain technology. If youre unfamiliar with blockchain, check out this step by step introduction for beginners . Beyond Bitcoin & first generation decentralized applications Although commonly associated with Bitcoin , blockchain technology has many other applications that go way beyond digital currencies. In fact, Bitcoin is only one of several hundred applications that use blockchain technology today. [Blockchain] is to Bitcoin, what the internet is to email. A big electronic system, on top of which you can build applications. Currency is just one. Sally Davies, FT Technology Reporter Until relatively recently, building blockchain applications has required a complex background in coding, cryptography, mathematics as well as significant resources. But times have changed. Previously unimagined applications, from electronic voting & digitally recorded property assets to regulatory compliance & trading are now actively being developed and deployed faster than ever before. By providing developers with the tools to build decentralized applications, Ethereum is making all of this possible. At its simplest, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications. Is Ethereum similar to Bitcoin? Well, sort of, but not really. Like Bitcoin , Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capabil Continue reading >>

What Is An Ethereum Token: The Ultimate Beginners Guide

What Is An Ethereum Token: The Ultimate Beginners Guide

What is An Ethereum Token: The Ultimate Beginners Guide Angel Investors, Startups & Blockchain developers... To a beginner, the entire concept of Ethereum and Ethereum token can get very confusing very fast. The idea that Ethereum not only has its own currency (Ether) but also has tokens on top of that which can act as currency themselves, can be a little mind-boggling. Before we even begin understanding what Ethereum tokens are all about, its important to grasp some basic concepts. The entire Ethereum network is a giant mass of nodes (computers) connected to one another. In fact, the entire network can be visualized as a single entity called the Ethereum Virtual Machine or EVM for short. All the transactions that have happened and will ever happen in this network are automatically updated and recorded in an open and distributed ledger. So what is the advantage of this? Before we explain that it is important to know what a smart contract is. Smart contracts are how things get done in the Ethereum ecosystem. When someone wants to get a particular task done in Ethereum they initiate a smart contract with one or more people. Smart contracts are a series of instructions, written using the programming language solidity , which work on the basis of the IFTTT logic aka the IF-THIS-THEN-THAT logic. Basically, if the first set of instructions are done then execute the next function and after that the next and keep on repeating until you reach the end of the contract. The best way to understand that is by imagining a vending machine. Each and every step that you take acts like a trigger for the next step to execute itself. It is kinda like the domino effect. So, lets examine the steps that you will take while interacting with the vending machine: Step 1: You give the vending mac Continue reading >>

Create A Cryptocurrency Contract In Ethereum

Create A Cryptocurrency Contract In Ethereum

We are going to create a digital token. Tokens in the ethereum ecosystem can represent any fungible tradable good: coins, loyalty points, gold certificates, IOUs, in game items, etc. Since all tokens implement some basic features in a standard way, this also means that your token will be instantly compatible with the ethereum wallet and any other client or contract that uses the same standards. The standard token contract can be quite complex. But in essence a very basic token boils down to this: contract MyToken { /* This creates an array with all balances */ mapping (address => uint256) public balanceOf; /* Initializes contract with initial supply tokens to the creator of the contract */ function MyToken( uint256 initialSupply ) { balanceOf[msg.sender] = initialSupply; // Give the creator all initial tokens } /* Send coins */ function transfer(address _to, uint256 _value) { require(balanceOf[msg.sender] >= _value); // Check if the sender has enough require(balanceOf[_to] + _value >= balanceOf[_to]); // Check for overflows balanceOf[msg.sender] -= _value; // Subtract from the sender balanceOf[_to] += _value; // Add the same to the recipient }} But if you just want to copy paste a more complete code, then use this: pragma solidity ^0.4.16;interface tokenRecipient { function receiveApproval(address _from, uint256 _value, address _token, bytes _extraData) public; }contract TokenERC20 { // Public variables of the token string public name; string public symbol; uint8 public decimals = 18; // 18 decimals is the strongly suggested default, avoid changing it uint256 public totalSupply; // This creates an array with all balances mapping (address => uint256) public balanceOf; mapping (address => mapping (address => uint256)) public allowance; // This generates a public event on Continue reading >>

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