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AWS Fargate : Effortless Container Deployment, No Servers Fargate offers a server-less setup where you don't have to worry about the backend infrastructure for your application. AWS handles all the infrastructure management for you, making it simple and efficient to deploy applications. With Fargate, you only need to focus on what your application needs, without any concerns about the underlying infrastructure, making the deployment process easier. If you are looking to explore the potential of DevOps for blockchain development, visit our DevOps blockchain development services.The Inner Workings of FargateFargate runs containers in the backend, and Amazon Web Services (AWS) handles all the infrastructure. You don't need to provide any infrastructure for your containerized application. Fargate takes care of packaging the application, including the CPU and memory. It carefully assigns each task to specific CPU and memory resources.You may also like | The Rise of Blockchain in DevOps solutionUnderstanding Fargate Task DefinitionA Fargate task definition serves as a blueprint for your application's setup. It specifies how your containerized application will run on AWS. In this task definition, you outline key settings such as the amount of CPU and memory your application will need. You also define other configurations like networking, logging, and storage options. Once the task definition is created, it is stored as an image in your containers, ensuring your application has all the necessary resources to run smoothly and efficiently. This process allows you to customize the infrastructure requirements according to your application's needs without worrying about the underlying servers.Fargate TasksFargate tasks are the actual running instances of a Fargate task definition within a cluster. When you create a Fargate task, you are essentially launching a specific configuration of your containerized application defined by the task definition. If these tasks are part of an ECS (Elastic Container Service) service, they are managed by a service scheduler. This means AWS automatically handles all the infrastructure required for running these tasks, such as load balancing, scaling, and resource allocation, without you needing to set up or manage any server instances. The entire process is managed on the backend, allowing you to focus solely on your application's functionality and performance.Also, Check | Role of Devops in MetaverseFargate Benefits and How to Get Started:-1:-No need to manage any infrastructure for your containerized applications.2:-Fargate handles packaging the application, including CPU and memory.3:-It allocates each task to specific CPU and memory resources.Steps to Create a Fargate Container:-1:-Create a Task DefinitionIn the task definition, specify the application image, along with settings like family, port, command, entry point, volume, or any other configurations.2:-Creating a Fargate TaskAfter defining the task, you can deploy it either as a standalone task or as part of an ECS service within a cluster.3:-Running a Fargate TaskWhether running as a standalone task or as part of an ECS service, Fargate automatically handles all infrastructure needs, including scaling, without any manual management.Also, Explore | Speed Up Blockchain Development with DevOps ToolsStep-by-Step Guide to Creating Fargate Resources:-Step 1: Create a Fargate Task DefinitionSelect an Image: Start by creating a Fargate task definition. For this example, use a public Docker image like NGINX. You can substitute this with any image you prefer. Public images need internet access to be downloaded. If you're using private images, make sure to use private subnets for secure access.Configure Resources: Specify the CPU and memory required for your task within the task definition. This setup determines how much computing power and memory the application will use.Set Up the Container: Use the NGINX image (or your chosen image) inside the container as part of your task definition.Step 2: Create and Deploy the Fargate TaskInstantiate the Task: Use the task definition from Step 1 to run the task. You can choose to deploy it as a standalone task or as part of an ECS (Elastic Container Service) service within a cluster. In this case, we will run it as a standalone task.Step 3: Monitor the Task StatusCheck Task Progress: After starting the task, it will transition through various states before reaching "running." Initially, it will be in an "active" state and will eventually move to the "running" state. Monitor this process to ensure it completes successfully.Also, Read | Infrastructure as Code: Automate Infrastructure Management for DevOpsBest Practices for Using Fargate:-Allocate Resources Appropriately: Always provide the correct amount of CPU and memory based on your application's needs. This helps in optimizing performance and cost.Simplify Deployment: Fargate makes it easy and efficient to deploy applications, especially for small applications that require quick infrastructure setup. Focus on the application itself while Fargate handles the infrastructure.ConclusionAWS Fargate simplifies container deployment by eliminating the need to manage servers, allowing teams to focus on building and scaling their applications effortlessly. With Fargate, you can launch containers without worrying about infrastructure, leading to faster development cycles and more efficient resource usage. It's an ideal solution for businesses seeking a hassle-free, scalable, and cost-effective way to run containerized applications. If you are looking for high quality DevOps solutions or services, connect with our skilled DevOps engineers for more information.

Technology: MEAN , PYTHON more Category: Blockchain

Ajay Pandey

06 Sep 2024

How to Implement an On-Chain NFT Allowlist In the dynamic world of NFTs, creating an NFT project that provides exclusive access to a specific group of users is a common requirement. One effective way to achieve this is by implementing an on-chain allowlist using NFT development services. By restricting access to specific functions of your smart contract, such as minting or transferring NFTs, you can ensure that only approved users can participate. In this blog, we'll dive into the details of building an on-chain allowlist for your ERC1155 NFT project using Solidity. We'll leverage the robust OpenZeppelin libraries to create a secure, upgradeable, and feature-rich solution.Why Use an On-Chain NFT Allowlist?An on-chain allowlist offers several advantages for NFT projects:Security: Restricts access to specific functions, reducing the risk of malicious activity.Exclusivity: Ensures only designated users for example early supporters or special invitees can mint or transfer NFTs.Flexibility: Allows dynamic updates to the list of approved addresses, adapting to changing requirements.You may also like | Creating a Smart Contract with NFT RoyaltiesAn Example of an Upgradeable AllowlistNFT ERC1155 Token Contract with Built-in Allowlist Functionality// SPDX-License-Identifier: MIT pragma solidity 0.8.20; import "@openzeppelin/contracts-upgradeable/token/ERC1155/ERC1155Upgradeable.sol"; import "@openzeppelin/contracts-upgradeable/token/ERC1155/extensions/ERC1155BurnableUpgradeable.sol"; import "@openzeppelin/contracts-upgradeable/token/ERC1155/extensions/ERC1155SupplyUpgradeable.sol"; import "@openzeppelin/contracts-upgradeable/token/ERC1155/extensions/ERC1155URIStorageUpgradeable.sol"; import "@openzeppelin/contracts-upgradeable/token/common/ERC2981Upgradeable.sol"; import "@openzeppelin/contracts-upgradeable/access/OwnableUpgradeable.sol"; import "@openzeppelin/contracts-upgradeable/proxy/utils/Initializable.sol"; import "@openzeppelin/contracts-upgradeable/proxy/utils/UUPSUpgradeable.sol"; contract AllowlistNFT is Initializable, ERC1155Upgradeable, ERC1155BurnableUpgradeable, ERC1155SupplyUpgradeable, ERC1155URIStorageUpgradeable, ERC2981Upgradeable, OwnableUpgradeable, UUPSUpgradeable { uint256 private _tokenIdCounter; string public name; string public symbol; // Allowlist mapping mapping(address => bool) public isAllowlistAddress; error ArrayLengthMismatch(); error TokenDoesNotExists(); error Unauthorized(); event UpdatedURIs(uint256[] tokenId, string[] newUri); event UpdatedDefaultRoyalty(address receiver, uint256 feeNumerator); modifier onlyAllowlistAddress() { if (!isAllowlistAddress[msg.sender]) { revert Unauthorized(); } _; } /// @custom:oz-upgrades-unsafe-allow constructor constructor() { _disableInitializers(); } function initialize( string memory _name, string memory _symbol, address _initialOwner, address _royaltyReceiver, uint96 _royaltyFeeNumerator ) public initializer { __ERC1155Burnable_init(); __ERC1155Supply_init(); __ERC1155URIStorage_init(); __UUPSUpgradeable_init(); __ERC2981_init(); __Ownable_init(_initialOwner); name = _name; symbol = _symbol; _setDefaultRoyalty(_royaltyReceiver, _royaltyFeeNumerator); } // Allowlist addresses function allowlistAddresses(address[] calldata wAddresses) public onlyOwner { for (uint i = 0; i < wAddresses.length; i++) { isAllowlistAddress[wAddresses[i]] = true; } } function whitelistMint( address to, uint256 amount, string memory tokenUri ) external onlyAllowlistAddress { uint256 tokenId = _incrementTokenId(); _setURI(tokenId, tokenUri); _mint(to, tokenId, amount, ""); } function updateDefaultRoyalty( address receiver, uint96 feeNumerator ) external onlyOwner { _setDefaultRoyalty(receiver, feeNumerator); emit UpdatedDefaultRoyalty(receiver, feeNumerator); } function getLatestTokenId() external view returns (uint256) { return _tokenIdCounter; } function _incrementTokenId() internal returns (uint256) { return ++_tokenIdCounter; } function _update( address from, address to, uint256[] memory ids, uint256[] memory values ) internal virtual override(ERC1155SupplyUpgradeable, ERC1155Upgradeable) { super._update(from, to, ids, values); } function uri( uint256 tokenId ) public view virtual override(ERC1155Upgradeable, ERC1155URIStorageUpgradeable) returns (string memory) { return super.uri(tokenId); } function supportsInterface( bytes4 interfaceId ) public view override(ERC2981Upgradeable, ERC1155Upgradeable) returns (bool) { return super.supportsInterface(interfaceId); } function _authorizeUpgrade( address newImplementation ) internal override onlyOwner {} }The AllowlistNFT contract is an ERC1155 token contract designed to provide exclusive access to a specific group of users. It features on-chain allowlist management, royalty settings, and a dynamic URI system. The contract uses OpenZeppelin's upgradeable libraries for flexibility and security. Key functions include whitelist minting, royalty updates, and token ID management. The contract also overrides necessary functions for compatibility with other standards and ensures secure access control through modifiers.Also, Read | How to Create a Dynamic NFTInitialization and UpgradeabilityThe contract is designed to be upgradeable, ensuring future modifications without redeploying.Allowlist ManagementThe contract allows the owner to manage a list of addresses that are permitted to mint NFTs.Minting FunctionalityOnly addresses on the allowlist can mint new NFTs.Royalty ManagementThe contract supports royalty payments to the original creator of the NFT.Token ID ManagementThe contract keeps track of the unique identifier for each minted NFT.Internal Helper FunctionsThe contract includes internal functions to manage token IDs and update supply counts.\Overriding Functions for CompatibilityThe contract overrides necessary functions to interact with other standards like ERC2981.Access ControlThe contract ensures that only the contract owner and approved addresses can perform certain actions.Also, Check | How to Create an ERC 721 NFT TokenConclusionIn this guide, we've explored the implementation of an on-chain allowlist for an ERC1155 NFT project, highlighting the benefits and practical steps involved. By utilizing OpenZeppelin's upgradeable libraries, we've created a robust and secure smart contract that offers exclusive access to a specified group of users.Key TakeawaysOn-Chain Allowlist: Provides enhanced security and exclusivity by restricting access to NFT minting and transfers.Upgradeable Smart Contract: Leverages OpenZeppelin's libraries to ensure flexibility and future-proofing.Royalty Management: Ensures ongoing compensation for creators through built-in royalty settings.Dynamic URI System: Allows for easy updates and management of NFT metadata.By incorporating these features, your NFT project can effectively manage user access, maintain security, and ensure ongoing creator rewards. This approach not only enhances the functionality of your NFTs but also aligns with best practices in smart contract development.Ready to take your NFT project to the next level? Connect with our skilled NFT developers to learn how we can help you implement a secure, upgradeable on-chain allowlist and other advanced features for your ERC1155 tokens!

Technology: MEAN , PYTHON more Category: Blockchain

Suchit Kumar

02 Sep 2024

How to Build a Grid Trading Bot | A Step-by-Step Guide Grid trading bots automate trading strategies by placing buy and sell orders at predetermined intervals, known as grid levels, to capitalize on market fluctuations. These bots are particularly useful in volatile markets, where price movements can create profit opportunities. By systematically buying low and selling high at multiple price points, grid trading bots aim to capture gains across a range of price movements. This guide walks you through the essential steps to develop a grid trading bot, including defining your strategy, connecting to an exchange API, managing orders, and handling errors. With practical code examples and setup instructions, you'll learn how to create and deploy a robust grid trading system tailored to your chosen market. To develop a grid trading bot, follow these steps to create an automated system that places buy and sell orders at specific intervals (grid levels) to capitalize on market fluctuations. For more about crypto bots, visit our crypto trading bot development services.Creating a Grid Trading BotStep 1: Define Your Trading StrategyChoose a Market: Decide which market you want your grid bot to operate in, such as cryptocurrency, stocks, or forex. Your choice will determine which exchange or broker API you need to use.Set Grid Parameters:Grid Size: Establish the price range (upper and lower limits) where your bot will execute trades.Grid Levels: Determine the number of price points or grid levels within the selected range.Order Size: Decide how much to buy or sell at each grid level.Grid Step: Define the price difference between each grid level.Entry and Exit Criteria: Establish the conditions for starting the grid (e.g., when the price reaches a specific point) and stopping or exiting the grid strategy (e.g., achieving a target profit or hitting a stop-loss limit).You may also like | How to Build a Solana Sniper BotStep 2: Connect to the Exchange APIAPI Access: Obtain API keys from the exchange you plan to use (e.g., Binance, Kraken, Coinbase).Install and Configure API Library: Utilize an appropriate library to interact with the exchange's API, which will allow you to fetch market data and place orders.Step 3: Gather Market Data and Set Up the GridFetch Market Data: Retrieve the latest price data to understand current market conditions.Calculate Grid Levels: Based on the current market price, grid size, and grid step, determine the specific price points where you will place buy and sell orders.Place Initial Grid Orders: Use the exchange's API to place the initial buy and sell orders at the calculated grid levels.Also, Check | How To Create My Scalping Bot Using Node.jsStep 4: Monitor and Adjust OrdersMonitor Market Prices: Continuously track the latest prices to see if any of your orders have been executed.Rebalance the Grid: If a buy order is executed, place a new sell order one grid step above the executed price. Similarly, if a sell order is executed, place a new buy order one grid step below.Implement Stop-Loss and Take-Profit: Set conditions to close all positions if the bot reaches a predetermined loss or profit.Step 5: Handle Errors and Log ActivitiesError Handling: Ensure the bot can handle issues like API rate limits, order rejections, and connection problems.Logging: Record all transactions, orders, and market data to monitor the bot's performance and troubleshoot if needed.You may also like | Building a Chatbot based on BlockchainStep 6: Backtest Your StrategyUse Historical Data: Run simulations using past market data to see how your bot would have performed in various conditions.Evaluate Performance: Review metrics like profit and loss, drawdown, and risk to determine the strategy's effectiveness.Step 7: Deploy and Monitor Your BotDeploy on a Secure Server: Set up your bot on a reliable server, such as a VPS or a cloud service like AWS, Azure, or Google Cloud, to run continuously.Monitor in Real-Time: Regularly check your bot's performance and make adjustments as needed to optimize results. // Step 1: Install Required Libraries // We'll use the `ccxt` library to interact with various cryptocurrency exchanges. const ccxt = require('ccxt'); // Step 2: Setup the Bot Configuration // Define the necessary configuration parameters such as API keys, grid size, and levels. const exchange = new ccxt.binance({ apiKey: 'YOUR_API_KEY', // Replace with your Binance API Key secret: 'YOUR_SECRET_KEY', // Replace with your Binance Secret Key enableRateLimit: true, }); // Bot configuration const symbol = 'BTC/USDT'; // The trading pair const gridSize = 1000; // The range within which the bot will operate const gridLevels = 10; // Number of grid levels const orderSize = 0.001; // Size of each order /** * Step 3: Calculate Grid Levels * * Calculate the price points (grid levels) where the bot will place buy and sell orders. * This step ensures that the bot knows exactly where to place orders within the specified range. */ async function calculateGridLevels() { const ticker = await exchange.fetchTicker(symbol); const currentPrice = ticker.last; // Get the current market price const gridStep = gridSize / gridLevels; // Calculate grid step size let gridPrices = []; for (let i = 0; i < gridLevels; i++) { let buyPrice = currentPrice - (gridStep * (i + 1)); let sellPrice = currentPrice + (gridStep * (i + 1)); gridPrices.push({ buyPrice, sellPrice }); } return gridPrices; } /** * Step 4: Place Initial Grid Orders * * This function places buy and sell orders at the calculated grid levels. * It iterates through each level and places both a buy and sell order at the corresponding prices. */ async function placeGridOrders(gridPrices) { for (let i = 0; i < gridPrices.length; i++) { const { buyPrice, sellPrice } = gridPrices[i]; try { await exchange.createLimitBuyOrder(symbol, orderSize, buyPrice); console.log(`Placed buy order at ${buyPrice}`); await exchange.createLimitSellOrder(symbol, orderSize, sellPrice); console.log(`Placed sell order at ${sellPrice}`); } catch (error) { console.error(`Error placing order: ${error.message}`); } } } /** * Step 5: Monitor and Manage Orders * * Continuously monitor the market to adjust orders based on execution. * If a buy order is filled, the bot places a new sell order one grid step above, and vice versa. */ async function manageOrders() { try { const openOrders = await exchange.fetchOpenOrders(symbol); for (const order of openOrders) { // Check if any orders are filled const orderInfo = await exchange.fetchOrder(order.id, symbol); if (orderInfo.status === 'closed') { console.log(`Order ${order.id} is filled at ${orderInfo.price}`); // Place a new order in the opposite direction if (order.side === 'buy') { const newSellPrice = orderInfo.price + (gridSize / gridLevels); await exchange.createLimitSellOrder(symbol, orderSize, newSellPrice); console.log(`Placed new sell order at ${newSellPrice}`); } else if (order.side === 'sell') { const newBuyPrice = orderInfo.price - (gridSize / gridLevels); await exchange.createLimitBuyOrder(symbol, orderSize, newBuyPrice); console.log(`Placed new buy order at ${newBuyPrice}`); } } } } catch (error) { console.error(`Error managing orders: ${error.message}`); } } /** * Step 6: Main Function to Run the Bot * * Integrate all parts into a main function that initializes the grid and runs the bot in a loop. */ (async () => { try { const gridPrices = await calculateGridLevels(); // Calculate the initial grid levels await placeGridOrders(gridPrices); // Place the initial grid orders // Continuously manage orders setInterval(async () => { await manageOrders(); }, 10000); // Check every 10 seconds } catch (error) { console.error(`Error running bot: ${error.message}`); } })(); Also, Discover | Top 7 Most Popular Telegram Crypto Trading Bots in 2024ConclusionIn conclusion, developing a grid trading bot offers a strategic approach to navigating market fluctuations and optimizing trading opportunities. By setting precise grid levels and automating buy and sell orders, you can efficiently capitalize on price movements without needing constant manual intervention. This guide has outlined the key steps—from defining your trading strategy and configuring the bot to monitoring and managing orders. With practical examples and a clear framework, you now have the foundation to build and deploy your own grid trading bot. As you implement and refine your bot, remember to continually test and adjust your strategy based on market conditions to maximize performance and achieve your trading goals. If you are looking to develop crypto trading bots, connect with our skilled crypto bot developers to get started.

Technology: SMART CONTRACT , JQUERY more Category: Blockchain

Prince Balhara

02 Sep 2024

A Guide to Implementing NFT Royalties on ERC-721 & ERC-1155 NFT royalties are payments made to the original creators each time their digital assets are resold on the secondary market. These payments are automated through smart contracts embedded in blockchain networks using NFT development services , ensuring that creators continue to earn from their work long after the initial sale.How NFT Royalties WorkCreators can set their desired royalty percentage during the minting process of the NFT. When a secondary sale occurs, the smart contract automatically allocates the specified percentage of the transaction as a royalty payment to the creator.ExampleOne notable example is Beeple's "Crossroads" NFT, which was resold for approximately $6.6 million on the secondary market. Beeple received 10% of the resale value as a royalty payment, demonstrating how NFT royalties provide creators with an ongoing revenue stream.You may also like | How to Get the Transaction History of an NFTThe Need for NFT RoyaltiesDespite the visibility gained through social media, artists and creators often struggle to receive fair compensation for their work. Traditional art and content sales typically result in one-time payments, with creators losing control over secondary sales. NFT royalties offer a revolutionary solution by ensuring that creators continue to benefit financially from the resale of their work, providing a sustainable income model and restoring control over how their creations are monetized.Also, explore | How to Create a Compressed NFT on SolanaWays To Implement RoyaltiesTo implement the functionality of royalties in smart contracts, we mainly work with two types of smart contracts:ERC-721 (Non-Fungible Token) ContractsERC-1155 (Multi-Token Standard) Contracts.Description of Smart ContractsERC-721(NFT) ContractIn an ERC-721, every NFT is unique, meaning each NFT must reference its specific content. The ERC-721 standard provides a set of functions that developers can integrate into their smart contracts to create, transfer, and manage NFTs. These functions allow for the creation of unique tokens, each with distinct metadata, making them individually identifiable.Internally, ERC-721 smart contracts maintain a ledger of token ownership, manage transfers between users, and track the total token supply along with the balance of tokens for each address. A well-known example of an application using the ERC-721 standard is CryptoKitties, a blockchain-based game that allows users to buy, sell, and breed virtual assets. Other examples include Ethermon, MyCrypto, and Cryptodoggies.Explore more | A Detailed Guide to NFT Minting on Solana using Metaplex APIHere's a sample contract, demonstrating how to integrate royalties functionality to an erc-721 smart contract.// SPDX-License-Identifier: MIT pragma solidity ^0.8.0; interface IERC721 { function balanceOf(address owner) external view returns (uint256 balance); function ownerOf(uint256 tokenId) external view returns (address owner); function safeTransferFrom(address from, address to, uint256 tokenId) external; function transferFrom(address from, address to, uint256 tokenId) external; function approve(address to, uint256 tokenId) external; function getApproved(uint256 tokenId) external view returns (address operator); function setApprovalForAll(address operator, bool _approved) external; function isApprovedForAll(address owner, address operator) external view returns (bool); } interface IERC721Receiver { function onERC721Received(address operator, address from, uint256 tokenId, bytes calldata data) external returns (bytes4); } contract ERC721WithRoyalties is IERC721 { string private _name; string private _symbol; mapping(uint256 => address) private _owners; mapping(address => uint256) private _balances; mapping(uint256 => address) private _tokenApprovals; mapping(address => mapping(address => bool)) private _operatorApprovals; // Royalties mapping: tokenId => (royaltyRecipient, royaltyPercentage) mapping(uint256 => address) private _royaltyRecipients; mapping(uint256 => uint256) private _royaltyPercentages; // Mapping to store token URIs mapping(uint256 => string) private _tokenURIs; constructor(string memory name_, string memory symbol_) { _name = name_; _symbol = symbol_; } // ERC721 Metadata function name() public view returns (string memory) { return _name; } function symbol() public view returns (string memory) { return _symbol; } function tokenURI(uint256 tokenId) public view returns (string memory) { require(_exists(tokenId), "ERC721: URI query for nonexistent token"); return _tokenURIs[tokenId]; } // Function to set token URI function _setTokenURI(uint256 tokenId, string memory uri) internal { require(_exists(tokenId), "ERC721: URI set of nonexistent token"); _tokenURIs[tokenId] = uri; } // ERC721 Functions function balanceOf(address owner) public view override returns (uint256) { require(owner != address(0), "ERC721: balance query for the zero address"); return _balances[owner]; } function ownerOf(uint256 tokenId) public view override returns (address) { address owner = _owners[tokenId]; require(owner != address(0), "ERC721: owner query for nonexistent token"); return owner; } function approve(address to, uint256 tokenId) public override { address owner = ownerOf(tokenId); require(to != owner, "ERC721: approval to current owner"); require(msg.sender == owner || isApprovedForAll(owner, msg.sender), "ERC721: approve caller is not owner nor approved for all"); _tokenApprovals[tokenId] = to; emit Approval(owner, to, tokenId); } function getApproved(uint256 tokenId) public view override returns (address) { require(_exists(tokenId), "ERC721: approved query for nonexistent token"); return _tokenApprovals[tokenId]; } function setApprovalForAll(address operator, bool approved) public override { _operatorApprovals[msg.sender][operator] = approved; emit ApprovalForAll(msg.sender, operator, approved); } function isApprovedForAll(address owner, address operator) public view override returns (bool) { return _operatorApprovals[owner][operator]; } function transferFrom(address from, address to, uint256 tokenId) public override { require(_isApprovedOrOwner(msg.sender, tokenId), "ERC721: transfer caller is not owner nor approved"); _transfer(from, to, tokenId); } function safeTransferFrom(address from, address to, uint256 tokenId) public override { safeTransferFrom(from, to, tokenId, ""); } function safeTransferFrom(address from, address to, uint256 tokenId, bytes memory _data) public { require(_isApprovedOrOwner(msg.sender, tokenId), "ERC721: transfer caller is not owner nor approved"); _transfer(from, to, tokenId); require(_checkOnERC721Received(from, to, tokenId, _data), "ERC721: transfer to non ERC721Receiver implementer"); } // Internal Functions function _exists(uint256 tokenId) internal view returns (bool) { return _owners[tokenId] != address(0); } function _isApprovedOrOwner(address spender, uint256 tokenId) internal view returns (bool) { require(_exists(tokenId), "ERC721: operator query for nonexistent token"); address owner = ownerOf(tokenId); return (spender == owner || getApproved(tokenId) == spender || isApprovedForAll(owner, spender)); } function _safeMint(address to, uint256 tokenId, string memory uri) internal { _mint(to, tokenId); _setTokenURI(tokenId, uri); // Set the token URI on mint require(_checkOnERC721Received(address(0), to, tokenId, ""), "ERC721: transfer to non ERC721Receiver implementer"); } function _mint(address to, uint256 tokenId) internal { require(to != address(0), "ERC721: mint to the zero address"); require(!_exists(tokenId), "ERC721: token already minted"); _balances[to] += 1; _owners[tokenId] = to; emit Transfer(address(0), to, tokenId); } function _transfer(address from, address to, uint256 tokenId) internal { require(ownerOf(tokenId) == from, "ERC721: transfer of token that is not own"); require(to != address(0), "ERC721: transfer to the zero address"); _approve(address(0), tokenId); _balances[from] -= 1; _balances[to] += 1; _owners[tokenId] = to; emit Transfer(from, to, tokenId); } function _approve(address to, uint256 tokenId) internal { _tokenApprovals[tokenId] = to; emit Approval(ownerOf(tokenId), to, tokenId); } function _checkOnERC721Received(address from, address to, uint256 tokenId, bytes memory _data) private returns (bool) { if (to.code.length > 0) { try IERC721Receiver(to).onERC721Received(msg.sender, from, tokenId, _data) returns (bytes4 retval) { return retval == IERC721Receiver(to).onERC721Received.selector; } catch { return false; } } else { return true; } } // Royalty Functions function setRoyaltyInfo(uint256 tokenId, address recipient, uint256 percentage) external { require(msg.sender == ownerOf(tokenId), "ERC721: caller is not owner of the token"); require(percentage <= 10000, "ERC721: royalty percentage too high"); // Max 100% _royaltyRecipients[tokenId] = recipient; _royaltyPercentages[tokenId] = percentage; } function getRoyaltyInfo(uint256 tokenId) external view returns (address recipient, uint256 percentage) { require(_exists(tokenId), "ERC721: querying royalty info for nonexistent token"); return (_royaltyRecipients[tokenId], _royaltyPercentages[tokenId]); } function _calculateRoyalty(uint256 salePrice, uint256 tokenId) internal view returns (uint256) { uint256 percentage = _royaltyPercentages[tokenId]; return salePrice * percentage / 10000; // Royalty percentage is out of 10000 } // To be used in conjunction with marketplace integrations function payRoyalty(uint256 tokenId, uint256 salePrice) external payable { uint256 royaltyAmount = _calculateRoyalty(salePrice, tokenId); require(msg.value == royaltyAmount, "ERC721: incorrect royalty payment"); address recipient = _royaltyRecipients[tokenId]; require(recipient != address(0), "ERC721: no recipient set for royalties"); payable(recipient).transfer(msg.value); } // Events event Transfer(address indexed from, address indexed to, uint256 indexed tokenId); event Approval(address indexed owner, address indexed approved, uint256 indexed tokenId); event ApprovalForAll(address indexed owner, address indexed operator, bool approved); } ERC-1155 (NFT) ContractERC-1155 is a versatile token standard on the Ethereum blockchain that enables the creation and transfer of both fungible and non-fungible tokens within a single transaction. Combining the features of earlier standards like ERC-20 and ERC-721, it enhances efficiency and significantly reduces costs. This standard supports an infinite variety of tokens, including semi-fungible ones, and offers secure transfer mechanisms without the need to approve each token contract individually.ERC-1155 allows multiple assets to be managed within a single smart contract, reducing transaction costs and streamlining operations. It enables the transfer of multiple items to one or more recipients in a single transaction. For example, in blockchain games, ERC-1155 simplifies management by integrating various components—such as shields, swords, and in-game currency—into a single smart contract, eliminating the need for multiple contracts for each asset.Also, check | A Step by Step Tutorial of Building a Cross Chain NFT BridgeImportance of ERC-1155 TokenPrior to ERC-1155, creating a use case that involved both ERC-20 (fungible) and ERC-721 (non-fungible) tokens required separate contracts for each type. Additionally, ERC-1155 allows for the management of multiple NFT collections within a single smart contract, eliminating the need to create a separate contract for each collection. This consolidation reduces the number of transactions, which is crucial for saving blockchain space and enhancing the efficiency of smart contract deployment.Example ERC-1155 TokenConsider an online event ticketing system that uses ERC-1155 tokens to manage access to various events. In this system, different token IDs within the smart contract represent various ticket categories, such as general admission, VIP passes, and early bird specials. When users purchase tickets, they receive ERC-1155 tokens corresponding to their chosen ticket type. These tokens are stored in their digital wallets and can be presented at the event for admission. To validate entry, event organizers simply scan the token's QR code.Also, discover | How to Create a Rentable NFTsDifference Between ERC721 and ERC1155 Smart Contract ERC-721 was the first major NFT standard, created in 2017 by the Ethereum development studio ConsenSys, and remains the most popular protocol for NFTs. ERC-1155, a newer standard introduced in 2018 by Enjin, a gaming company specializing in blockchain technology, brought additional flexibility.ERC-721 tokens are unique and strictly non-fungible, meaning each token is distinct and cannot be interchanged with another. In contrast, ERC-1155 tokens can be fungible, non-fungible, or even semi-fungible. This versatility allows ERC-1155 tokens to represent both collectibles and traditional assets like currencies or commodities.While both ERC-721 and ERC-1155 are valid standards for NFTs, the key difference is that ERC-721 tokens are always non-fungible, whereas ERC-1155 tokens can be either fungible or non-fungible. ERC-721 is typically preferred for collectibles, while ERC-1155 is favored for use cases involving traditional assets and gaming items due to its efficiency and versatility.If you are looking to hire NFT developers, explore our large talent pool, comprising skilled full-stack developers.

Technology: MEAN , PYTHON more Category: Blockchain

Tushar Shrivastava

30 Aug 2024

NFT ETFs | A Beginner’s Guide to Investing in Digital Assets In the dynamic world of digital finance, Non-Fungible Tokens (NFTs) have revolutionized how we perceive and trade unique digital assets. Simultaneously, Exchange-Traded Funds (ETFs) have democratized access to diverse investment portfolios. The convergence of these two innovations has given rise to the NFT ETF—a novel financial instrument blending the uniqueness of NFTs with the accessibility of ETFs. Understanding the evolution of NFT ETFs is essential for making informed investment decisions. For more about NFTs, visit ourNFT development services.This blog delves into the structure, benefits, and future outlook of NFT ETFs, providing a comprehensive guide for potential investors in 2024.What is an NFT ETF?An NFT ETF, or Non-Fungible Token Exchange-Traded Fund, is a type of financial product that allows investors to gain exposure to a diversified portfolio of NFTs through a single investment vehicle. Like traditional ETFs, which bundle stocks or bonds into a tradeable asset, NFT ETFs aggregate various NFTs or NFT-related assets, offering investors an efficient way to invest in the burgeoning NFT market without managing individual NFTs.The Rise of NFT ETFsNFTs have captured significant attention due to their potential to represent ownership of unique digital art, collectibles, and other digital items. However, the NFT market's volatility and complexity challenge individual investors. NFT ETFs emerged as a solution, providing diversified exposure to NFTs and related sectors (e.g., NFT marketplaces, and blockchain technology companies). These funds allow investors to partake in the NFT boom while mitigating the risks of holding individual NFTs.Also, Explore | How to Develop an NFT Game Like Zed Run | A Step-by-Step GuideKey Milestones in the Rise of NFT ETFs2021-2022:Initial discussions and exploratory ETF structures proposed, focusing on NFT-related stocks and indices.2023: Launch of the first NFT ETFs, initially featuring companies involved in the NFT ecosystem, such as marketplaces and blockchain infrastructure.2024:Expansion of NFT ETFs to include actual NFTs and derivative assets, enhancing diversification and investment appeal.Also, Read | How to Get the Transaction History of an NFTHow Does an NFT ETF Work?Composition of NFT ETFs:NFT ETFs typically include:NFT StocksShares of companies heavily involved in the NFT space, such as NFT marketplaces (e.g., OpenSea), blockchain technology firms (e.g., Ethereum), and digital art platforms.NFT DerivativesFinancial instruments derived from the value of NFTs, such as NFT futures or options.Direct NFTsA selection of high-value or trending NFTs aggregated into the fund.Also, Discover | How to Create a Compressed NFT on SolanaMechanism of OperationCreation and Redemption: Like traditional ETFs, NFT ETFs are created and redeemed through a process involving institutional investors and fund managers. This process ensures that the ETF's price closely tracks the value of the underlying assets.Trading: NFT ETFs are traded on stock exchanges, allowing investors to buy and sell shares throughout the trading day. This liquidity makes it easier for investors to enter or exit positions in the NFT market.Management: Professional fund managers oversee the selection and weighting of assets within the ETF, rebalancing the portfolio as needed to maintain desired exposure and risk levels.Investment StrategyNFT ETFs employ diverse strategies, such as:Market Capitalization: Targeting NFTs or companies with significant market value.Thematic: Focusing on specific NFT themes, such as digital art, gaming, or virtual real estate.Active Management: Involving active buying and selling of NFTs or related assets to capitalize on market trends.You may also like | A Detailed Guide to NFT Minting on Solana using Metaplex APIBenefits of Investing in NFT ETFsDiversificationNFT ETFs provide exposure to a broad spectrum of NFTs and related assets, reducing the risks associated with investing in individual NFTs, which can be highly volatile and illiquid.AccessibilityBy packaging NFTs into an ETF, investors can easily participate in the NFT market without understanding the intricacies of NFT ownership, storage, and trading.LiquidityNFT ETFs offer greater liquidity than individual NFTs, as they can be traded on major stock exchanges, allowing investors to buy or sell shares quickly.Professional ManagementManaged by experienced professionals, NFT ETFs benefit from expert selection and rebalancing of assets, aiming to optimize returns and manage risks effectively.Also, Read | A Step by Step Tutorial of Building a Cross Chain NFT BridgeNavigating the NFT ETF Landscape in 2024Market TrendsIncreased Adoption: Growing interest from retail and institutional investors in NFTs drives demand for NFT ETFs.Regulatory Developments: Evolving regulations impact the structure and offerings of NFT ETFs, enhancing transparency and investor protection.Technological Advancements: Innovations in blockchain technology and NFT standards contribute to developing more sophisticated NFT ETFs.Key PlayersProminent financial institutions and innovative fintech companies lead the charge in offering NFT ETFs. These players leverage their expertise in traditional finance and digital assets to create compelling investment products.Investment ConsiderationsInvestors should evaluate factors such as:Expense Ratios: Understanding the costs associated with managing the ETF.Asset Composition: Assessing the types of NFTs and companies included in the ETF.Market Conditions: Monitoring the overall NFT market environment and potential risks.Also, Check | Leveraging DALLE APIs for NFT DevelopmentFuture Outlook on NFT ETFsThe future of NFT ETFs looks promising, driven by several factors:Expansion of NFT CategoriesAs the NFT market matures, NFT ETFs are likely to include a wider variety of NFTs, including virtual real estate, music rights, and tokenized physical assets.Integration with DeFiThe convergence of NFT ETFs with decentralized finance (DeFi) platforms may offer new liquidity and yield generation opportunities, further enhancing these investment products' appeal.Institutional AdoptionGrowing interest from institutional investors in NFTs is expected to bolster the development and acceptance of NFT ETFs, bringing more capital and credibility to the market.You may also like to explore | Unveiling the Top NFT Trends in 2024ConclusionNFT ETFs represent a groundbreaking innovation at the intersection of digital assets and traditional finance. By offering diversified exposure to the rapidly evolving NFT market, these ETFs provide a practical and accessible way for investors to participate in the digital economy's growth. As the NFT landscape continues to evolve, NFT ETFs are poised to play a crucial role in shaping the future of digital asset investments. Whether you're a seasoned investor or new to the NFT space, understanding the structure and benefits of NFT ETFs can empower you to make informed decisions in this exciting and dynamic market. In case you are looking for NFT development services, explore and hire from a diverse talent pool of NFT developers to get started.

Technology: SMART CONTRACT , REDIS more Category: Blockchain

Mudit Kumar

29 Aug 2024

Revolutionizing DApp development with EIP-7702 Ethereum, the leading platform for smart contracts andblockchain app development, constantly evolves. One of the key areas of development is account abstraction, which aims to make interacting with the network simpler and more secure. EIP-7702 is a recent Ethereum Improvement Proposal that takes a significant step towards this goal.In this blog post, we explore the intricacies of EIP-7702, why it's needed and what it brings to the table.You may also like |Understanding ERC-404 | The Unofficial Token StandardWhat's the Problem with Traditional Ethereum Accounts?Traditional Ethereum accounts, while foundational to the Ethereum ecosystem, have several limitations that can hinder user experience and security. One major issue is the lack of a standardized mechanism for account recovery. If a user loses access to their private key, they effectively lose access to their assets with no way to recover them.Additionally, traditional accounts often require users to manually manage gas fees, which can be confusing and lead to costly mistakes, especially for newcomers. Security is another concern, as the direct management of private keys exposes users to risks such as phishing attacks and key theft.Read Also |ERC-20 vs BRC-20 Token Standards | A Comparative AnalysisUnderstanding EIP-7702EIP-7702 is a new Ethereum Request for Comment (ERC) standard proposed to enhance the functionality and interoperability of decentralized applications on the Ethereum blockchain. While still in its early stages, EIP-7702 aims to address some of the limitations of existing standards like ERC-20 and ERC-721, providing a more robust and flexible framework for DApp developers.Ethereum, the leading platform for smart contracts and decentralized applications, has seen significant growth and adoption over the past few years. However, as the ecosystem has matured, several challenges have emerged. Issues such as high gas fees, scalability problems, and security vulnerabilities have hindered the widespread adoption of DApps. EIP-7702 seeks to address these challenges by introducing a new set of protocols that improve upon the existing standards.Check It Out |ERC-20 Token Standard | A Compact Guide to DevelopmentKey Features of EIP-7702InteroperabilityOne of the primary goals of EIP-7702 is to improve interoperability between different DApps. This means that tokens and assets created under this standard can seamlessly interact with other EIP-7702-compliant applications, facilitating a more connected and efficient ecosystem. Interoperability is crucial for creating a cohesive user experience, where assets and data can move freely across various platforms and services without friction.Enhanced SecurityEIP-7702 introduces advanced security features designed to protect users' assets and data. This includes improved smart contract auditing protocols and built-in mechanisms to prevent common vulnerabilities such as reentrancy attacks and integer overflows. By incorporating these security measures, EIP-7702 aims to provide a safer environment for users, reducing the risk of hacks and exploits that have plagued the blockchain space.ScalabilityWith the increasing number of users and transactions on the Ethereum network, scalability has become a significant concern. EIP-7702 addresses this by optimizing gas usage and transaction processing, enabling faster and more cost-effective interactions with DApps. Improved scalability is essential for supporting the growing demand for decentralized services and ensuring that the network can handle a high volume of transactions without congestion.User ExperienceOne of the most exciting aspects of EIP-7702 is its focus on enhancing the user experience. This includes more intuitive interfaces, better integration with existing wallets, and streamlined processes for interacting with DApps, making it easier for both novice and experienced users to engage with the decentralized web. By prioritizing user experience, EIP-7702 aims to lower the barriers to entry and make DApps more accessible to a broader audience.FlexibilityEIP-7702 is designed to be highly flexible, allowing developers to create a wide range of applications and use cases. Whether it's for decentralized finance (DeFi), gaming, or supply chain management, EIP-7702 provides the tools needed to build innovative and impactful DApps. This flexibility encourages experimentation and innovation, enabling developers to explore new ideas and create unique solutions that leverage blockchain technology.Also, Check |ERC-721 Non-Fungible Token Standard DevelopmentHow EIP-7702 Can Transform Your Use of DAppsSimplified OnboardingOne of the biggest barriers to the widespread adoption of DApps has been the complex onboarding process. EIP-7702 simplifies this by offering more user-friendly interfaces and seamless integration with popular wallets and platforms. This means that new users can get started with DApps more easily, without needing extensive technical knowledge. Simplified onboarding is crucial for attracting new users and driving mass adoption of decentralized applications.Improved SecuritySecurity is a top concern for anyone interacting with blockchain technology. EIP-7702's enhanced security features provide greater peace of mind, ensuring that your assets and data are better protected. This can encourage more users to engage with DApps, knowing that their investments are secure. Improved security measures also enhance the credibility and trustworthiness of DApps, which is essential for building a sustainable and thriving ecosystem.Lower CostsBy optimizing gas usage and improving transaction efficiency, EIP-7702 helps to reduce the costs associated with using DApps. Lower fees mean that more users can afford to participate in the decentralized ecosystem, driving greater adoption and usage. Cost efficiency is particularly important for DeFi applications, where high transaction fees can erode the value of users' investments and limit participation.Greater InteroperabilityWith EIP-7702, the barriers between different DApps are lowered, allowing for greater interoperability and collaboration. This can lead to more innovative and synergistic applications, providing users with a richer and more diverse array of services and features. Interoperability also fosters a more vibrant and dynamic ecosystem, where developers can build on each other's work and create more powerful and integrated solutions.Enhanced User ExperienceThe focus on user experience means that interacting with DApps will be more intuitive and enjoyable. From streamlined processes to better interfaces, EIP-7702 makes it easier for users to engage with decentralized applications, boosting overall satisfaction and retention. A better user experience can drive higher engagement and loyalty, encouraging users to explore and utilize a wider range of DApps.Suggested Read |BRC-20 Token | Everything You Need To KnowConclusionEIP-7702 represents a significant step forward in the evolution of decentralized applications. By addressing key issues such as interoperability, security, scalability, and user experience, this new standard has the potential to revolutionize the way we use DApps. As the Ethereum ecosystem continues to grow and evolve, EIP-7702 will play a crucial role in shaping the future of decentralized technology, making it more accessible, efficient, and secure for everyone.Stay tuned to see how EIP-7702 develops and how it can enhance your DApp experience. Whether you're a seasoned blockchain enthusiast or a newcomer to the decentralized world, the benefits of EIP-7702 are poised to make a lasting impact on the way we interact with and utilize decentralized applications.Interested in developing your own Ethereum-based crypto tokens? At Oodles Blockchain, our team of expertblockchain developers is here to bring your ideas to life. Whether you're thinking of creating a new token, building a DApp, or improving your existing blockchain project, we've got you covered. Let's work together to turn your vision into reality.Reach out to us today!

Technology: REDIS , NEST JS more Category: Blockchain

Saumya Srivastava

29 Aug 2024

DN-404 Token Standard : Revolutionizing Fractional NFT Ownership In the rapidly evolving space ofcrypto token development, new standards and protocols are continually being developed to address various needs and challenges. Among these innovations, the DN-404 token standard stands out as a particularly promising development. Designed to enhance the functionality and security of digital assets, the DN-404 token standard is gaining attention for its unique features and potential applications. The DN-404 token standard is not just another addition to the already crowded field of blockchain technology. It represents a significant leap forward in managing and utilizingcrypto token development and digital assets.This blog explores what the DN-404 token standard is, how it works, its key features and benefits, potential use cases, and a comparison with the ERC-404 standard.Also, Read | Understanding ERC-404 | The Unofficial Token StandardWhat is the DN-404 token standard?DN-404 is an experimental Ethereum token standard that combines the functionalities of the popular ERC-20 and ERC-721 standards.The DN-404 token standard is a new protocol designed for issuing, managing, and transferring digital tokens on a blockchain network. Compared to existing token standards, it aims to provide enhanced security, flexibility, and interoperability. DN-404 tokens can represent various digital assets, including cryptocurrencies, utility tokens, and even tokenized real-world assets.How does the DN-404 token standard Work?The DN-404 token standard operates on a blockchain network, utilizing smart contracts to define the rules and conditions for token creation, transfer, and management. Here's a simplified overview of how it works:Token CreationDevelopers can create DN-404 tokens by deploying a smart contract that specifies the token's attributes, such as its name, symbol, total supply, and other custom features.Token TransferDN-404 tokens can be transferred between users securely and efficiently. The standard includes built-in mechanisms to prevent double-spending and ensure that all transactions are transparent and verifiable.Token ManagementThe DN-404 standard allows for advanced token management features such as minting (creating additional tokens), burning (destroying tokens), and freezing (restricting transfers) as per the requirements of the issuing entity.Also, Read | ERC-721 Non-Fungible Token Standard DevelopmentKey Features of DN-404DN-404 revolutionizes decentralized ecosystems with its cutting-edge features, surpassing the limitations of ERC-404. Key benefits include:Scalability BoostDN-404's innovative consensus mechanisms and smart contract protocols enhance transaction throughput and reduce latency, ensuring seamless scalability.Decentralized GovernanceRobust governance frameworks empower token holders to participate in decision-making, including protocol upgrades, parameter adjustments, and voting on key proposals.Cross-Chain InteroperabilityUnlike ERC-404, DN-404 enables frictionless asset transfers and cross-chain transactions across multiple blockchain networks.Enhanced SecurityDN-404 prioritizes security and transparency with stringent auditing protocols and cryptographic mechanisms to safeguard against potential exploits and vulnerabilities.Standardized Token CreationDN-404 introduces standardized tokenomics parameters, simplifying token creation and management for developers while ensuring consistency and compatibility across decentralized applications (dApps).Explore | ERC-20 Token Standard | Things You Must KnowDifference between ERC-404 and DN-404Here, is the difference between ERC-404 and DN-404 token standards.Potential Use Cases of DN-404The versatility and robust features of the DN-404 token standard open up a wide range of potential use cases, including:Decentralized Finance (DeFi)DN-404 tokens can be used in various DeFi applications, such as lending platforms, decentralized exchanges, and yield farming.Tokenized AssetsReal-world assets like real estate, art, and commodities can be tokenized using DN-404, enabling fractional ownership and easier transferability.GamingDN-404 tokens can be used to create in-game currencies, items, and rewards, enhancing the gaming experience and enabling new monetization models.Supply Chain ManagementDN-404 tokens can be used to track and verify the provenance of goods, improving transparency and efficiency in supply chains.Voting SystemsThe governance features of DN-404 make it suitable for implementing secure and transparent voting systems in various organizations and communities.Suggested Read |Assessing the Advantages of Ethereum Blockchain Solutions for EnterprisesConclusionThe DN-404 token standard represents a significant advancement in the field of blockchain technology. Its enhanced security, flexibility, and interoperability make it a compelling choice for developers and organizations looking to leverage digital tokens in various applications. As the blockchain ecosystem continues to evolve, standards like DN-404 will play a crucial role in driving innovation and adoption.Ready to explore the potential of the DN-404 token standard? At Oodles Blockchain, our team of experienced blockchain developers is equipped to help you harness the power of DN-404 for your next project. Whether you're looking to tokenize assets, enhance your DeFi platform, or build cutting-edge DApps, we're here to bring your vision to life.Contact us today and let's create something extraordinary together!

Technology: SOLIDITY , solana more Category: Blockchain

Saumya Srivastava

29 Aug 2024

How to Build a Solana Sniper Bot The Solana blockchain, known for its high throughput and low transaction costs, has become a prominent platform for blockchain app development. Among the various tools and bots built on Solana, the "sniper bot" stands out for its ability to automatically purchase tokens as soon as they become available. This is especially useful during token launches or other time-sensitive events.In this guide, we'll walk you through building a Solana sniper bot, with a particular focus on integrating it with Raydium DEX. You'll learn about the key components, technologies, and strategies involved in developing an efficient sniper bot.Understanding the BasicsA sniper bot on Solana is a tool that automatically buys tokens as soon as they become available on a decentralized exchange (DEX), such as Raydium, PumpFun, Jupiter, or Orca. To build a robust sniper bot, you need to understand Solana's ecosystem, including its RPC (Remote Procedure Call) API, smart contracts (also known as programs), and key technical components such as transactions and signatures.Before starting, ensure you have the following prerequisites:Development Environment: Set up Node.js, npm, and the Solana CLI.Solana Wallet: Create a wallet (using Phantom or Sollet, for instance).RPC Endpoint: Obtain access to a Solana RPC endpoint to interact with the blockchain.Basic Knowledge of JavaScript: We'll use JavaScript to write the bot.You may also like | How to Build a Grid Trading Bot | A Step-by-Step GuideStep 1: Setting Up the ProjectStart by creating a new Node.js project:mkdir solana-sniper-bot cd solana-sniper-bot npm init -y Then, install the necessary packages:npm install @solana/web3.js axios dotenv Step 2: Setting Up Environment VariablesCreate a .env file in the project root to store sensitive information, such as your private key and RPC endpoint:PRIVATE_KEY=your_private_key_here SOL_RPC=https://api.mainnet-beta.solana.com RAYDIUM_FEE_ACCOUNT=your_fee_account_here Step 3: Creating the Listener for New PoolsCreate a listener that detects when new pools are added on Raydium:const { Connection, PublicKey } = require("@solana/web3.js"); const MAX_SIZE = 10000; const seenTransactions = new Set(); class RaydiumPoolListener { constructor() { this.connection = new Connection(process.env.SOL_RPC, { commitment: "confirmed" }); this.listenToNewPools(); } listenToNewPools() { this.connection.onLogs(new PublicKey(process.env.RAYDIUM_FEE_ACCOUNT), async (txLogs) => { if (seenTransactions.has(txLogs.signature)) return; if (seenTransactions.size >= MAX_SIZE) { [...seenTransactions].slice(0, 50).forEach((tx) => seenTransactions.delete(tx)); } seenTransactions.add(txLogs.signature); // Trigger swap function with the necessary parameters swap(txLogs.tokenAmount, txLogs.tokenAddress, txLogs.poolId); console.log("New pool detected, initiating swap..."); }); console.log("Listening for new liquidity pools..."); } } module.exports = new RaydiumPoolListener(); Also, Read | Understanding the Impact of AI Crypto Trading BotsStep 4: Integrating the Raydium SDKUse the Raydium SDK to execute swaps once liquidity is added to a pool:const { initSdk } = require('@raydium-io/raydium-sdk-v2'); const BN = require('bn.js'); const Decimal = require('decimal.js'); async function swap(amountOfSol, solAddress, poolId) { const raydium = await initSdk(); const poolData = await raydium.api.fetchPoolById({ ids: [poolId] }); const poolInfo = poolData[0]; if (!poolInfo) throw new Error("Pool not found"); const rpcData = await raydium.liquidity.getRpcPoolInfo(poolId); const [baseReserve, quoteReserve] = [rpcData.baseReserve, rpcData.quoteReserve]; const out = raydium.liquidity.computeAmountOut({ poolInfo, amountIn: new BN(amountOfSol), mintIn: solAddress, slippage: 0.01, }); const { execute } = await raydium.liquidity.swap({ poolInfo, amountIn: new BN(amountOfSol), amountOut: out.minAmountOut, fixedSide: 'in', inputMint: solAddress, }); const { txId } = await execute({ sendAndConfirm: true }); console.log(`Swap successful! Transaction ID: https://explorer.solana.com/tx/${txId}`); } For further reference, explore the Raydium SDK V2 Demo.Step 5: Testing the BotBefore deploying your bot on the mainnet, it's crucial to test it thoroughly on Solana's devnet. Modify your .env file to use the devnet RPC endpoint:RPC_ENDPOINT=https://api.devnet.solana.com Also, Explore | How To Create My Scalping Bot Using Node.jsStep 6: Deployment and SecurityOnce the bot is ready, deploy it to a secure server:Use a VPS to ensure the bot runs continuously with minimal downtime.Secure Your Private Key: Always use environment variables or a secure vault service to store sensitive information.ConclusionBuilding a Solana sniper bot involves a deep understanding of the Solana blockchain, smart contracts, and APIs. By following the steps outlined in this guide, you can create a sniper bot that executes trades automatically as soon as an asset becomes available, giving you a competitive edge during token launches or NFT drops.Thoroughly test your bot on the devnet before deploying on the mainnet, and ensure security measures are in place to protect your private keys. With ongoing monitoring and optimizations, your sniper bot can become a powerful asset in the world of blockchain trading.Interested in hiring crypto bot developers? Explore our talent pool to bring your projects to life.By refining this approach, you'll be ready to harness the power of Solana's ecosystem and take advantage of automated trading to succeed in the fast-paced world of blockchain.

Technology: SMART CONTRACT , NEST JS more Category: Blockchain

Ankit Mishra

23 Aug 2024

Why ERC-7007 is the Next Big Thing in Blockchain Blockchain technology constantly evolves, introducing new standards and protocols that enhance digital asset management. One such groundbreaking development is ERC-7007, a token specifically designed for AI-generated content (AIGC). This new standard aims to revolutionize how digital content is owned, authenticated, and monetized through crypto development services.This blog explores essential information about ERC-7007, including its key features.What is ERC-7007?ERC-7007 is an Ethereum token standard created to manage AI-generated content. Unlike traditional tokens, ERC-7007 focuses on the nuances of AI content creation, ensuring that ownership, authorship, and monetization are transparent and traceable. This standard opens up new avenues for content creators, consumers, and industries relying on digital assets.You may also like | Discovering Top ERC Token Standards in 2024Similarities and Differences between ERC-7007 and ERC-721ERC-7007 shares similarities with ERC-721, the standard for non-fungible tokens (NFTs). Both standards allow for the creation and management of unique digital assets. However, ERC-7007 is tailored specifically for AI-generated content, incorporating additional features to address complex challenges and opportunities AI presents in content creation.Also, Check | How to Create and Deploy a Token Bound Account | ERC-6551Key Features of ERC-7007Ownership and AuthorshipERC-7007 ensures clear ownership and authorship of AI-generated content. Each token represents a unique piece of content, and the blockchain records the creator's details, ensuring transparency and protecting intellectual property rights.Transparency and TraceabilityOne of the standout features of ERC-7007 is its ability to provide transparency and traceability. Every transaction, modification, and transfer of the token is recorded on the blockchain, offering a verifiable history of the content's journey from creation to current ownership.Also, Check | Discovering Top ERC Token Standards in 2024Monetization and RoyaltiesERC-7007 facilitates the monetization of AI-generated content by enabling creators to set up automated royalty payments. This ensures that the original creator receives a fair share of the revenue every time the content is sold or used, providing a continuous income stream.InteroperabilityERC-7007 tokens are designed to be interoperable with other Ethereum-based tokens and platforms. This ensures that AI-generated content can be seamlessly integrated and utilized across various applications, enhancing its utility and value.Also, Read | How to Simplify Transactions with ERC 2771Industry Applications of ERC-7007Media and EntertainmentIn the media and entertainment industry, ERC-7007 can be used to manage and monetize AI-generated music, videos, and other forms of digital content. This not only protects the rights of creators but also provides new revenue streams.Digital ArtFor digital artists, ERC-7007 offers a platform to authenticate and sell AI-generated artworks. The transparency and traceability features ensure that each piece of art can be verified as original, preventing forgery and ensuring artists receive due recognition and payment.EducationIn education and research, ERC-7007 can be used to manage and distribute AI-generated research papers, educational materials, and other intellectual properties. This ensures that creators are credited for their work and can monetize their contributions to academia.Also, Explore | How to Create an ERC 721C ContractFuture OutlookThe future of ERC-7007 looks promising as more industries recognize the potential of AI-generated content. As blockchain technology continues to advance, ERC-7007 will likely see broader adoption, driving innovation and providing new opportunities for creators and consumers alike.ConclusionERC-7007 represents a significant advancement in the management and monetization of AI-generated content. By ensuring transparency, traceability, and fair compensation, this token standard has the potential to revolutionize various industries. As we move forward, the standard will play a crucial role in shaping the future of digital content creation and ownership. If you are looking to enter the DeFi space to build innovative projects that can transform the web, connect with our skilled blockchain developers to get started. Also, check our past work where we delivered innovative solutions to complex business requirements.

Technology: SMART CONTRACT , NEST JS more Category: Blockchain

Mudit Kumar

21 Aug 2024

A Complete Guide to Ethereum Name Service (Exploring ENS Domains) Navigating the realm of Ethereum development services can often feel as complex as deciphering an alien script. Amidst the technical terminology and intricate addresses, the Ethereum Name Service (ENS) emerges as a beacon of clarity. This innovative system simplifies blockchain interactions, making them more accessible and user-friendly.This blog explores the introduction of the Ethereum Name Service and its functionality.What Is ENS (Ethereum Name Service)?The Ethereum Name Service (ENS) is a decentralized domain name registry that bridges the gap between human-friendly names and Ethereum addresses. Think of it as a way to assign memorable, personalized names to your wallets, smart contracts, and even decentralized websites.Traditionally, interacting with Ethereum required dealing with long hexadecimal strings that served as addresses, a barrier to mainstream adoption. ENS revolutionizes this by replacing these complex addresses with simple, readable names, such as "mywallet.eth".Also, Explore | How Polygon AggLayer Emerges to be the Hub for Ethereum L2sHow Does ENS Work?ENS functions by mapping human-readable domain names to Ethereum addresses. This means instead of sharing unwieldy addresses like "0x4bbeEB066eD09B7AEd07bF39EEe0460DFa261520", you can provide your ENS name like "alice.eth". This mapping is managed in a decentralized manner across a network of nodes, ensuring resilience against censorship and avoiding central control.The infrastructure of ENS is built on Ethereum smart contracts, which store the mappings between names and addresses. These contracts are executed by a distributed network of nodes, similar to how Ethereum itself operates. This decentralization ensures that ENS is robust and resistant to manipulation or shutdown by any single entity.Also, Check | Creating a Tokenized Lootbox Game Smart Contract on EthereumMultiple Use Cases of ENSWallet AddressesReplace your lengthy wallet address with an ENS name. For instance, "alice.eth" can be used to receive payments rather than sharing a complex address.Smart ContractsAssign ENS names to smart contracts, simplifying their interaction. This is particularly useful for decentralized applications (dApps) that require frequent interaction with smart contracts.Decentralized WebsitesENS can be integrated with IPFS (InterPlanetary File System) to host censorship-resistant websites. By mapping an ENS name to content stored on IPFS, users can access websites without reliance on traditional DNS servers, ensuring permanence and resistance to censorship.Also, Read | A Quick Guide to Ethereum Loyalty Program DevelopmentIntegrating ENS Across ServicesENS offers several integrative features that enhance its utility:Web3 UsernameYour ENS name can serve as a unified username across various blockchain services. This simplifies identity management and makes interactions more user-friendly.Cross-Chain CompatibilityUse your ENS name to receive payments in any cryptocurrency or token, not just Ethereum. This interoperability streamlines transactions and eliminates the need to manage multiple addresses.Decentralized WebsitesBy uploading your website to IPFS and linking it to your ENS name, you achieve a truly decentralized web presence. This is particularly appealing for projects that require resilience against censorship or for publishing content that requires long-term availability.Traditional DomainsENS supports both native.ETH domains and integration with existing DNS names (e.g., .com, .org, .io). This allows seamless integration of traditional internet domains with the benefits of blockchain technology, such as security and decentralization.You may also like | ERC-4337: Ethereum's Account Abstraction ProposalConclusionENS empowers users by simplifying interactions with blockchain technology and enhancing the decentralized web. Whether securing your crypto identity, launching a decentralized application, or publishing content on a censorship-resistant platform, ENS provides the tools necessary to easily navigate the blockchain landscape.In summary, ENS represents a significant step towards mainstream adoption of blockchain technology by abstracting complexity and providing intuitive solutions for users and developers alike. By leveraging ENS, individuals and organizations can embrace the benefits of decentralization while enjoying the convenience of human-readable names. As blockchain technology continues to evolve, ENS stands as a foundational pillar in creating a more accessible and user-friendly digital ecosystem.At Oodles Blockchain, our expert blockchain developers can help you harness the power of Ethereum Name Service to create user-friendly digital identities. Let us assist you in integrating ENS into your platform, making blockchain more accessible. Get in touch with us today to elevate your business with seamless ENS integration!

Technology: SMART CONTRACT , REDIS more Category: Blockchain

Mudit Kumar

20 Aug 2024

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