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What Are Ethereum Tokens

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 >>

Ethereum Tokens Using The Ethereum Blockchain | Draglet.com

Ethereum Tokens Using The Ethereum Blockchain | Draglet.com

Ethereum tokens are units of digital currency that exist on the Ethereum blockchain. They can represent all sorts of value: customer reward points, IOUs, and video game currencies can all be represented as Ethereum tokens, along with more traditional forms of finance. This are not the first form of digital currency capable of representing non-financial value. Similar programs have been developed that work by adding unique metadata to Bitcoin transactions, marking them as non-Bitcoin assets. But unlike Bitcoin, the Ethereum blockchain supports a wide range of decentralized applications giving Ethereum tokens an advantage over other digital tokens. For example, Ethereum is designed to support smart contracts . In fact, because it can function as a virtual machine, Ethereum is capable of running any type of application. Ethereum tokens are easy and cost-efficient to make. In under ten minutes, they can be created using the platforms free and open-source smart contract development tools. And you dont have to build a wallet: the easy-to-use official Ethereum wallet is able to hold, send and receive Ethereum tokens of any kind. Decentralization helps to make Ethereum secure. Because the record of transactions on a blockchain is distributed among its members, it is also highly tamper-resistant. Any attempts at fraud or manipulation can easily be detected. Another great feature of Ethereum tokens is interoperability via APIs (application programming interfaces). This allows Ethereum applications to easily sync with other systems. 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 >>

A Beginners Guide To Ethereumtokens

A Beginners Guide To Ethereumtokens

Before learning about Ethereum tokens, it is important to first understand the basics of Ethereum . Please see my beginners guide to Ethereum for those new to this concept entirely. Ethereum tokens are simply digital assets that are being built on top of the Ethereum blockchain. They benefit from Ethereums existing infrastructure instead of developers having to build an entirely new blockchain. They also strengthen the Ethereum ecosystem by driving demand for ether, the native currency of Ethereum, needed to power the smart contracts. This beginners guide should help those who are new to digital assets to understand Ethereum tokens at a high level and how they are different than Ethereum. Ethereum is a platform that can be used to create any arbitrary smart contract including smart contracts that represent digital assets called Ethereum tokens. This is similar to the App Store providing a platform for iOS apps with some apps issuing their own digital currencies that are used within the game or system. However, with Ethereum there is no centralized entity like Apple that controls what gets added to the App Store. Anyone can create a token on top of Ethereum. Ethereum tokens can represent anything from a physical object like gold ( Digix ) to a native currency used to pay transaction fees ( Golem ). In the future, tokens may even be used to represent financial instruments like stocks and bonds. The properties and functions of each token are entirely subject to its intended use. Tokens can have a fixed supply, constant inflation rate, or even a supply determined by a sophisticated monetary policy. Tokens can be used for a variety of purposes such as paying to access a network or for decentralized governance over an organization. Tokens are often issued to the public throu Continue reading >>

What Is An Erc20 Token And Does Exodus Support It?

What Is An Erc20 Token And Does Exodus Support It?

What is an ERC20 Token and does Exodus support it? If youre reading this page, youve probably heard the term ERC20 Token thrown around, especially in the wake of the recent boom in ICO funded blockchain start-ups. ERC stands for Ethereum Request for Comments. This is an official protocol for proposing improvements to the Ethereum network. '20 is the unique proposal ID number. ERC20 defines a set of rules which need to be met in order for a token to be accepted and called as 'ERC20 Token'. The standard rules apply to all ERC20 Tokens since these rules are required to interact with each other on the Ethereum network. These tokens are blockchain assets that have value and can be sent and received, like Bitcoin, Litecoin, Ethereum, or any other cryptocurrency. The difference between these tokens and a standalone currency like Litecoin is that ERC20 tokens piggyback on the Ethereum network, hosted by Ethereum addresses and sent by Ethereum transactions. Take this transaction for example At first glance, this transaction may look like an empty Ether transaction - Note the Value of Ether transacted is zero - but look at the text in the red box: That is a record of the amount of OmiseGo tokens that were sent (2.77 OMG) and the Ethereum networkaddresses involved.The address directly above the red box "Contract 0x....." is the OmiseGo Smart Contract - an application that handles the distribution and transfers of OMG tokens on the Ethereum network.This is why, to execute a 'token transfer' transaction, you must pay a fee in Ethereum to the network. See here for more details on how ERC20 token fees work, see this article Sometimes, token contracts do not handle token transfers correctly, sometimes because the fee was too low, or the contract was incorrectly programmed. In these ca Continue reading >>

Ethereum Tokens Vs. Eth: Whats The Difference?

Ethereum Tokens Vs. Eth: Whats The Difference?

Thinks and writes about about many things. Cryptocurrency, philosophy, dev. Ethereum Tokens vs. ETH: Whats the difference? Disclaimer: Please note that this is an opinion piece and for information purposes only and not be taken asfinancial,legaloraccountingadvice. Always consult your trusted advisor, accountant or lawyer when making financial decisions. Ethereum is a decentralizedplatform, with its own blockchain and Ethereums coin or better put currency is calledEther. (But you already knew that ) Ethereum is similar to Bitcoin in that Bitcoin also uses a blockchain data structure, however, the Bitcoin ecosystem has its own currency called Bitcoin. The confusion comes in with tokens, especially as of late in the ICO craze. A token by definition is a representation of any fungible tradible good such as currency, loyalty points, gold certificates, in game items and more. The idea of a token itself is niether exclusive to Ethereum nor any other platform. It represents that I own a underlying tradable asset. Currently the Ethereum space is very hot with ICOs which are really just token offerings with some sexy IPO marketing language. The most interesting use case of these tokens (as mentioned in @NickTomainos On Token Value Post ) are the usage token. These tokens represent an exchange medium for access to a digital service within a project. For example, The Golem Project (the worldwide supercomputer) pays app developers who publish on the platform as well as CPU resource renters in theirtokenGNT. GNT represents the internal medium of exchange in the golem project, and people who want to participate in this ecosystem must have GNT to transact (ie. Use CPU resources, publish an app, etc). If someone wants to buy GNT but only has ETH, they can offer to trade their currency Continue reading >>

The Top 20 Ethereum Tokens

The Top 20 Ethereum Tokens

written by Daniel Frumkin February 22, 2018 Among the cryptocurrency community, there is a large group who believe that Ethereum will one day have the largest market cap of all. The belief is based partly on Ethereums long-term scaling solutions, which includes a transition from proof-of-work to proof-of-stake mining. That transition will result in Ethereum having a drastically lower environmental footprint compared to Bitcoin and other proof-of-work systems. Ultimately, though, it is the ability to build applications on top of the Ethereum blockchain that makes it so promising. While Ethereum has been around for less than 4 years, some successful applications have already been developed on it. In fact, 46 of the top 100 cryptocurrencies by market cap are Ethereum-based tokens. This article will talk about 20 of the most successful Ethereum-based tokens, ranked by their current market cap.Note that I will do my best to keep this list up-to-date and add information about coins that climb up the rankings, but the top 20 moves almost daily! Please refer to coinmarketcap.com/tokens for the current top 20 tokens and their prices. (Information accurate as of February 22, 2018) With a current market cap of nearly $6 billion, EOS is the biggest Ethereum-based token out there. Its important to clarify, however, that EOS has its own blockchain rather than using the Ethereum blockchain. This means that the Ethereum token is the only extent to which EOS is Ethereum-based. EOS does still have a lot in common with Ethereum. Both are primarily smart contract enabled platforms for hosting decentralized applications (dapps). The big technological difference that makes EOS unique is its operating system-like structure that scales both horizontally and vertically. Horizontal scaling is t Continue reading >>

Hexel Lets You Create An Ethereum Token For Your Community

Hexel Lets You Create An Ethereum Token For Your Community

What if it look like if the majority of newly issued ERC-20 tokens were used for good, instead of scammy ICO evil?One Y Combinator -backed startup that thinks they have an answer to this question. Meet Hexel , a startup that that wants to make it easy for anyone to use Ethereum-based tokens to engage their hyperlocal community. For example, a restaurant could use Hexels free tool to create and distribute a token as part of a rewards program, or a university could have their own token used as part of an on-campus economy. John Palmer, founder of Hexel explained that he sees a whole set of use cases for tokens that havent been explored yet like these hyperlocal community tokens. Tokens can bring a unique and fun element into transactions that would otherwise feel too formal if cash was used, Palmer said. To interact with Hexel you need to have a MetaMask wallet connected to the Ethereum network, since these newly issued tokens literally live on the Ethereum Blockchain. After signing an initial transaction and creating the ERC-20 token you can mint them by conducting an airdrop i.e picking how many free tokens you want to distribute and pasting in your friends Ethereum address. Hexels dashboard shows you the addresses of anyone that holds your token and their balance, so you can track your new mini economy in real time.The platform also has a page where you can see all the existing tokens created on Hexel. Of course being run on the Ethereum blockchain also has some downsides mainly that users have to pay a transaction fee anytime they interact with the network, meaning that both creating tokens and airdropping them to friends cost real Ether. In a perfect world this would only cost a few cents worth of ETH for each transaction, but network congestion typically means youl Continue reading >>

What Is An Ethereum Token: An In-depth Guide For Beginners

What Is An Ethereum Token: An In-depth Guide For Beginners

What is An Ethereum Token: An In-Depth Guide for Beginners Ethereum is not just a currency, its an environment and that is the primary difference between Ethereum and any other cryptocurrency. Here anyone can take advantage of the blockchain technology to build their own projects and DAPPS (decentralized applications) through smart contracts , which is a very important distinction because this very thing shows you the true scope of what is possible in Ethereum. Think of Ethereum like the internet and all the DAPPS as websites that run in it and you will see that there is something really interesting about these DAPPS. They are all decentralized and not owned by an individual, they are owned by people. The way that happens is usually by a crowd-sale called the ICO, which means that you purchase certain tokens of that DAPP in exchange of your ether. Work Tokens Work tokens identify you as a sort of shareholder in the DAPP and because of that, you have a say in the direction that that DAPP takes. DAO tokens are a perfect example of this because you would have the right to vote on whether a particular DAPP could get funding from the DAO or not if you were a DAO token holder. Usage Tokens Usage tokens act like native currency in their respective DAPPS and Golem is a pretty good example of this. You will need to pay with Golem Network Token (GNT) if you want to use the services in Golem. These tokens wont give you any particular rights or privilege within the network itself although they have monetary value. Bitcoins been around for almost eight years and thats why many people are familiar to it. On the other hand, Ethereum was only developed two years ago and thats why not so many people have heard of it. Ethereum was created by Vitalik Buterin, a young programmer who began Continue reading >>

Ether - What Are Digital Tokens? How Are Various Tokens Generated On Ethereum? - Ethereum Stack Exchange

Ether - What Are Digital Tokens? How Are Various Tokens Generated On Ethereum? - Ethereum Stack Exchange

What are digital tokens? How are various tokens generated on Ethereum? I've heard in various talks, Ethereum can generate any token (besides ether), representing anything from bitcoin (through btc-relay), litecoin, dogecoin, digital assets, shares, ownership representation or other crypto coins. How is this done? How can Ethereum distribute other digital tokens as a reword for mining and supporting the network? Is this possible now or only when Serenity is implemented? An important note is that tokens are not really associated with an owner directly. They are simply a number in a smart contract's storage representing the current balance of a given address. Even now, one could choose to pay for gas using any token, but you would need to form an agreement with miners, who would need to slightly modify their clients Tjaden Hess Oct 4 '16 at 3:15 But how can this be done in Ethereum? Is there a tutorial on how to get my own digital token setup? On Ethereum, they are known as tokens. The most thorough tutorial on setting up your own token that I have found on tokens is this one , on the official website. If that link ever goes down, you can also view it on the public GitHub repo here. If you just want the code, here is a sample token contract gist. You can watch any number of existing tokens via Mist / Ethereum Wallet, given that you know their address. Go to the contracts tab, click "Watch Token", enter the address, and the details will be automatically loaded. You can see this here with the Unicorn token: And is there a a place I can browse these digital assets that others have setup? In March 2016, a guy went ahead and tried to discover a bunch of tokens and did fairly well. He found 272 tokens on the blockchain, most of which seemed to be created using the above gist or Continue reading >>

What Is Erc-20 And What Does It Mean For Ethereum?

What Is Erc-20 And What Does It Mean For Ethereum?

What is ERC-20 and What Does it Mean for Ethereum? By Nathan Reiff | June 20, 2017 9:36 AM EDT Hydropower: The Key to Bitcoin Mining in the Future? Ethereum , the popular cryptocurrency and blockchain system, is based on the use of tokens which can be bought, sold, or traded. There are several different tokens which may be used in conjunction with Ethereum, and these differ from ether , which is the currency native to the Ethereum blockchain. Tokens, in this case, represent digital assets that can have a variety of values attached. They can represent assets as diverse as vouchers, IOUs, or even objects in the real world. In this way, tokens are essentially smart contracts that make use of the Ethereum blockchain. One of the most significant token standards of all for Ethereum is called ERC-20, which was developed about a year and a half ago. In short, the ERC-20 defines a common list of rules for all Ethereum tokens to follow, meaning that this particular token empowers developers of all types to accurately predict how new tokens will function within the larger Ethereum system. The impact that ERC-20 therefore has on developers is massive, as projects do not need to be redone each time a new token is released. Rather, they are designed to be compatible with new tokens, provided those tokens adhere to the rules. Developers of new tokens have by-and-large observed the ERC-20 rules , meaning that most of the tokens released through Ethereum initial coin offerings are ERC-20 compliant. ERC-20 defines six different functions for the benefit of other tokens within the Ethereum system. These are generally basic functionality issues, including how tokens are transferred and how users can access data about a token. ERC-20 also prescribes two different signals that each token ta Continue reading >>

Ethereum 'tokens' Are All The Rage. But What Are They Anyway? - Coindesk

Ethereum 'tokens' Are All The Rage. But What Are They Anyway? - Coindesk

Ethereum 'Tokens' Are All the Rage. But What Are They Anyway? Ethereum wants to create an ecosystem where everything works together seamlessly as part of its vision for a ' world computer ' and that includes thetokens required to power it. Launched in 2014 by a band of coders and an upstart teenager , ethereum was designed to make it possible for anyone to code nearly any type of app and deploy that on a blockchain. Many of these decentralized apps (or 'dapps' for short) neededtheir own token that could, among other things, be sold and traded easily. To that end, nearly 18 months ago, the ERC-20 token standard was born. It's hard to overstate how important that interface has been. By defining a common set of rules for ethereum-based tokens to adhere to, ERC-20 allows developers of wallets, exchanges and other smart contracts, to know in advance how any new token based on the standard will behave. This way, they can design their apps to work with these tokens out of the box, without having to reinvent the wheel each time a new token system comes along. As a result, almost all of the major tokens on the ethereum blockchain today, including those sold in the recent surge of ethereum-based initial coin offerings (ICOs), are ERC-20 compliant. Before delving deeper, it's important to spell out what a token actually is and how it differs from ether, the native currency driving the ethereum blockchain. As they relate to the ethereum network, tokens are digital assets that can represent anything from loyalty points to vouchers and IOUs to actual objects in the physical world. Tokens can also be tools, such as in-game items, for interacting with other smart contracts. But put simply, a token is nothing more than a smart contract running on top of the ethereum blockchain. As such 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 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 >>

Useless Ethereum Token

Useless Ethereum Token

The world's first 100% honest Ethereum ICO. You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television. Let's be honesteveryone's tired of ICOs. They get hyped up for weeks, and then they launch and clog up the Ethereum network for days, Coinbase goes down for a while, and then investors see the new tokens lose most of their value. This ICO is going to be different. The UET ICO transparently offers investors no value, so there will be no expectation of gains. No gains means few investors, few investors means few transactions, and few transactions means no Ethereum network lagnot to mention no depressing posts on /r/ethtrader about people losing all their savings! I learned all about Ethereum smart contracts and Solidity over a weekend so I could launch this ICO. Most of the smart contract contract code is copied from GitHub and Stack Overflow posts, so it should be pretty much right right? Also, I definitely didn't have any smart contract experts look at the contract before I launched it. I mean, why bother? All the other ICOs go through weeks of auditing and they still end up with bugs and vulnerabilities in their contracts. Unlike with every other token sale on the market, I can guarantee here and now that the value of UET will not (in fact, can not) reduce during or after the ICO. Since these tokens aren't worth anything to start with, there's nowhere to go but up! But rememberthis is a completely honest ICO, which means I don't want anyone to mistakenly expect the value of the tokens to go up, either. They're called Useless Ethereum Tokens for a reason. The UET crowdsale has finished. Thanks to everyone who contributed! (Regardless of th Continue reading >>

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