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How to write an Ethereum Smart contract from scratch? : Expert take

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How to write an Ethereum Smart contract from scratch?

How to write an Ethereum Smart contract from scratch? : Expert take

If you have gone through the basics of Ethereum and how the whole things work, you would of course be interested in knowing how the smart contracts are built. One of the most sought after feature of Ethereum is a smart contract and more and more people are looking to build and work with these decentralized applications or dApps. Of course this is a whole another new dimension that people are being introduced to and without any preparation beforehand, plunging yourself straight into the technical depths of this space can be quite daunting.

To help you with getting started on how to simply write an Ethereum smart contract from scratch, here is a little guide to help you by. Since it is always wise to take baby steps while learning something new, we would not be focussing much on deploying the app and testing it but simply how to get started with writing one.

Before we get started, let us have a quick recap and remember what a smart contract exactly is. It is simply a computer protocol that has been codified to enforce the negotiation of a contract on the Ethereum platform.

If you have absolutely no experience with programming, you might face a little difficulty getting on board with writing a smart contract. We first recommend gaining some basic knowledge about coding so that you can ease into your journey of writing a smart contract.

 

Decide on the business logic

Since a smart contract is used to basically implement a business logic, decide on what you want your smart contract to be doing. A vague idea would not help you. You need to know and identify exactly what you want your smart contract to do for you. Do you want to use it in a casino? Do you want to build it for a marketplace? It could be about anything and everything but you need to have a very clear picture in mind. A solid idea.

 

Learn Solidity for ethereum smart contract

Once the business logic or creative thinking part of this endeavor is done and decided, all you are left with is the technical part. The very first step for you to walk upon is to learn Solidity. The Ethereum Virtual Machine works on this programming language. Its structure is very similar to Javascript and C++ and once you have carefully gone through its documentation and learnt the syntax of this language and understood how to write a code in Solidity, you should proceed ahead to get your hands at the required toolkit to completely work your smart contract on. You could learn Solidity from several books like Solidity Programming Essentials: A beginner’s guide to build smart contracts for Ethereum and blockchain, Introducing Ethereum and Solidity: Foundations of Cryptocurrency and Blockchain Programming for Beginners, Ethereum Smart Contract Development: Build blockchain-based decentralized applications using Solidity. You could also access the official Solidity guide by Ethereum at this link.

 

Some basic tools for ethereum smart contract

Now which of all the given tools you would require for your smart contract depends on the business logic you wish to build however these are the tools which almost all of them need.

The very first thing you would need is a tool named Truffle. You can access it on Github at this link. Truffle is basically a development framework for Ethereum in which you would code your business logic using the programming language Solidity. Next you would need to get your hands on Node.js, a runtime environment to write your tests and deploy them. Now for greater efficiency you would need something that would manage your accounts and tokens and that is just what Parity does which is a fast and much more secure Ethereum client than any other available out there. The last must have tool on this list would be Web3.js. You would of course require something that would bridge the gap between your laptop and the Ethereum network. Web3.js does just that by making a communication protocol with the Ethereum network using a Javascript API.

 

Write the ethereum smart contract

Retract a step back from starting to write your smart contract and first write an applicable automated unit test of your business logic in Javascript or even Solidity itself. This would be used to test your smart contract against and see if it actually works correctly or not.

Once you have good practical and working knowledge of how to code in Solidity and you have set up all the others tools on your laptop like Truffle, Node.js, Parity and Web3.js, you can now begin to code your own smart contract, finally. Since you had already set out the business logic you would want your smart contract to work on, you need not brainstorm now. All you have to do is use your knowledge and understanding of Solidity and code your business logic by implementing it in Truffle using the Solidity language.

 

Testing and deploying

Once your business contract is codified and ready, test it against the automated unit test. I fit throws an error, fix it, if it does not, move onto the next step of deployment. Compile your tested smart contract in Truffle and deploy your smart contract on the original Ethereum network or on the Ropsten testnet. Both these options would require some sort of gas to pay for the processing.

 

Follow these simple steps, and although this might take a little more time than you would like, remember, patience is virtuous and in the long run it would provide you great outputs.

#Bitcoin

New to crypto? Buy only the original Bitcoin BTC, do not fall prey to shitcoins

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Bitcoin is the best start for the beginners to get a feel for the cryptoverse. Bitcoin is well known and if you are new to cryptocurrency, trust only BTC

Comprehending the rationales for the dominance and reliability of Bitcoin over shitcoins.

 

The anonymity of Bitcoin developer is the key to its acceptance

Bitcoin, having the first movers advantage has a lot of influence on the crypto community. Due to the various reasons, bullish momentum or bearish trend of Bitcoin is followed by all the Altcoins, but there are some exceptions. Any form of Fear, Uncertainty, or Doubt, affects the world’s first cryptocurrency and later on, due to the ripple effect, all the other coins closely associated with Bitcoin, fluctuate respectively. The censorship free kind of Blockchain platform offered by Bitcoin is highly useful to the customers who are obsessed with privacy or anonymity. Bitcoin, in fact, is the only cryptocurrency whose founder is not known until now.

 

Cryptocurrency is equivalent to Bitcoin

According to statistics, it has been estimated that among the merchants accepting cryptocurrencies, Bitcoin is accepted by 80% of them. The fame is so well seeded in the minds of people that “Bitcoin” is at times considered to be pseudonymous with “cryptocurrency“. Therefore, even the merchant’s have incorporated the Bitcoin payment system, as it is mostly used by the people. The number of Merchant stores accepting Altcoins but not Bitcoins is very rare. This insight clearly makes it evident that each and every individual are exposed to the cryptoverse only through the popularity of Bitcoin.

 

Bitcoin attracts Development, not Shitcoins

All the major venture, in the form of Research and Development, takes place in the name of Bitcoin and maybe further is expanded to other Altcoins. This particular reason is enough to give an overview of the Bitcoin reliability. The Bitcoin network, although experiences scalability issues, but it’s popularity has never been on a negative scale.

 

The cause for the anonymity of Bitcoin inventor

The mastermind behind the Bitcoin project, who called herself/himself Satoshi Nakamoto, has been anonymous since the invention of Bitcoin. Even until today’s day is identity has not been revealed, therefore, the users of the Bitcoin blockchain can subconsciously be assured about the security of his funds on the network. Else, even for the futile activity of the developer, the community would start to speculate about the future of the coin. Consider, Altcoins for example, where all the Altcoins have some or the other owner. Any speculative activity of theirs would spur FUD in the respective community.

 

Added perks of Bitcoin over Altcoins

Being anonymous also ensures an immunity against the government seizures. Pause and imagine, if the owner of any Altcoin was alleged for some issue, irrelevant of crypto, then his/her venture may be taken down by the government. The distributed nature of Bitcoin and anonymity, seeds stability in the network. The community members also start to judge the project based on the capabilities of the team members, in the case of Altcoins. The Bitcoin network is spread across the world, and it can also be considered bigger than the Internet. According to computer scientists, the entire Bitcoin network dominating the globe is around 11000 times powerful than the top 500 supercomputers from the world combined. Bitcoin even dominates for the highest number of wallet addresses registered. It qualifies to be, the top cryptocurrency to be listed on most of the exchanges around the world.

 

The Shitcoins aren’t made for the global Cryptocurrency

Many other Altcoins like Litecoin, Ethereum, etc are popularly known as Shitcoins because of their undirected focus towards becoming a global cryptocurrency. In simple words, these cryptocurrency coins are specifically developed, not to become a global cryptocurrency but for other futile and short-term purposes. Utility token is the other name for such coins, which would not gain widespread acceptance, because of their popularity and acceptance only in a single stream. On the contrary, Bitcoin is a generalized form of cryptocurrency known by everyone.

 

Closing thoughts on acceptance of Bitcoin for the beginners

The acceptance of Bitcoins in various countries, across the world, may be restricted due to their legal implications. Therefore, Bitcoin is the best start for the beginners to get a feel for the cryptoverse. Bitcoin is well known by the masses and an immense amount of information is available on the internet as well, regarding Bitcoin.

 

Note: Cryptocurrency investments are very risky and this article is not, in any way, an investment advise. The article is only the opinion of the writer and you should do your own due diligence in researching about any digital asset you wish to buy.

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#Bitcoin

XRP is now #2 Cryptocurrency, Ripple overtook Ethereum

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XRP is now officially the #2 cryptocurrency in the world with over $2.4 Billion Market Cap. The recent increase in the market cap was due to the rapid surge in Ripple Price after the XRapid Launch news was published.

The market cap of Ripple is now $23555443, which just surpassed Ethereum’s market cap of $23367070

Bitcoin Market cap stands at #1 at $116228274

 

Ripple Price Rise

XRP  Price broke all the obstacles and went to a swift uptrend against both Bitcoin and US Dollar. With the surging price, the total market cap of the cryptocurrency also noticed an enormous hype making Ripple the #2 Cryptocurrency after Bitcoin; beating Ethereum on the Cryptocurrency Market Capitalization list. More and more banks are utilizing the Xcurrent platform including the recent adoption by PNC , USA’s top financial services group.

 

Ethereum Price Decay

The former #2 cryptocurrency Ethereum noticed a vast decay in the previous few weeks with the reasons starting from large OTC selling by ICO’s (Initial Coin Offerings) and the ethereum miners backing out saying that ‘Ethereum Mining is no more profitable’. Ethereum price dropped down from whooping $450 in August to $190 a few days back. This has resulted to a huge number of prominent investors and traders opting out of the Etheruem Cryptocurrency stating that Ethereum has no future now.

 

Can Ripple Maintain the #2 position now or will Ethereum take back revenge? What are your thoughts on the same? Tell us in the comments section below.

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#Tron Price Analysis

10 reasons why TRON TRX price can increase massively this year

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One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength. TRON price will increase.

What is TRON?

TRON is a decentralized platform based on Blockchain and aims to build a digital content sharing platform eventually leveraging peer to peer (p2p) blockchain system. TRON first founded by a non-profit Singapore based foundation, and this foundation is specifically seeking to distribute the global entertainment industry.

Presently, lots of user data and traffic managed by a few corporations like Google, Amazon, and Facebook & Snapchat. TRON creates some serious steps to control by placing ownership of the data back into the creator’s hands.

 

Features of TRON

There are some key features of TRON, given below

  • TRON wants to heal the Internet with its entertainment features.
  • Data liberation; free and uncontrolled data.
  • Content-enabled ecosystem, where users can obtain digital assets from content spreading.
  • Personal ICO with the ability to distribute digital assets.
  • Different infrastructure which allows distributing digital assets exchange (such as games) and marketing forecasting.

 

Advantages of TRON

TRON has the biggest advantage, is its good team of developers, advisers, and investors. It’s CEO is Justin Sun, who is the protégé of Jack Ma, the founder of the Alibaba group and other advantages the fact about data creators, which are the data ownership of central and also the users on the Tron network are entitled to proportional profits granted by rules. Tron has an idea to administrate free service platforms for the public. That’s why it is operated and designed to serve the masses that enjoy entertainment content around the world.

 

Reasons for the massive increase in the price of TRON

If you are having feelings like the heat just because of the price of TRON. Well, don’t be.  This is a right time to get yourself a bit rich with the massive increase in the price of Tron. That is because what is happening now in the market is that wide crash that has seen previously in all cryptos shed a good portion of their value, with bitcoin dropping below $7700. While everything else has risen again, Tron (TRX) is in an incredibly good position with its risen up again by even bigger margins.

 

Here are the reasons why TRX price could rise:

The Mainnet Launch

In the previous scenario, just a few months ago Tron was in deep fall and it was migrating from the Ethereum blockchain to its own blockchain. But besides all this, several major exchanges have announced to support for the Tron migration, indicating that this event will be a major success as it is a strong enough reason to get into Tron at today’s prices, which reap big once the main net goes live.

 

Tron’s Drawing more in developers

In the Tron (TRX) case, its success completely depends on the team which has been pushing hard to woo Ethereum developers to the project. Tron team has used airdrops and other rewards to achieve this end. Giving them those incentives are worthwhile and one can expect the faster completion of project milestones, which will serve to further drive up the price.

  • One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength.
  • The other important reason for the massive growth is because it led by an aggressive and ambitious leader. Justin Sun, the CEO of Tron, has not only overseen the fast-tracking of milestone deadlines, but he has also decided that he wants Tron to be a top 6 coin in crypto ranking.
  • It had been hovering in this position for the last few months, until a few deep altcoin drops of the last few weeks. TRON’s peak coin price will be again high as eight cents just in a short duration.
  • From the beginning and the new holders who recently have joined, It sees a movement of about $200 million each day, give or take, and this spread across the major trading coin out there.
  • According to the price predicting; fiat trading is still extremely unrepresented here. That means is going to have an enormous opportunity to crack more fiat selling with a massive increase in prices and growth parallel.
  • Tron’s strong & steady strength which makes it continuously moving and this is also the reason for a massive increase in the price of Tron.

 

Note: This article represents only the opinion of the writer. The article is not, in any way, an investment advise. All cryptocurrency investments are risky and you should do your own research and analysis before buying or selling any digital assets including TRX.

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