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Quantum-Resistant Blockchain App Development Using Mochimo In the next 4-5 years, the cryptocurrency development will encounter extraordinary challenges that will transform familiar digital assets such as Bitcoin (BTC) and Ethereum (ETH) as we know them. The introduction of quantum computing jeopardizes the security of the current ECDSA (Elliptic Curve Digital Signature Algorithm) protocols, on which these assets rely. As quantum technology improves, cryptocurrencies will undoubtedly reach a tipping point, forcing people to adapt or be left exposed.This imminent change is expected to result in a time of rapid transformation throughout the cryptocurrency sector. There will be numerous efforts to tweak or "fork" current blockchains using blockchain development services so that they are post-quantum secure. This transition will be difficult and disruptive for many projects as developers try to incorporate quantum-resistant algorithms to protect against potential flaws.Quantum-Resistant Blockchain App Development Using MochimoIn this changing context, a new sort of blockchain may emerge—one designed from the bottom up to handle both the threats posed by quantum computing and the existing scaling concerns confronting today's leading cryptocurrencies. Such a blockchain would be:1. Post-Quantum Secure: Security methods designed to withstand quantum computing attacks.2. Built on Evolved Technology: With years of experience from previous cryptocurrency initiatives, this blockchain would have a polished and optimized codebase.3. Highly Scalable: Designed to process substantially more transactions per second than Bitcoin or Ethereum, solving concerns such as blockchain bloat and transaction throughput limitations.4 . Fast to Sync: A blockchain in which syncing a full node takes only minutes, hence boosting accessibility and lowering entry barriers for new users.To solve the issues with current blockchain systems, Mochimo (MCM), a third-generation cryptocurrency and transaction network, was created from the ground up. Using post-quantum cryptography technologies, Mochimo, which was created from the ground up, combines elite features into a seamless ecosystem that is future-proof. It makes use of a unique proof-of-work mining technique, a novel consensus method, and a randomized peer-to-peer network. When combined, these components produce a distributed ledger that is trustless and improves the security and effectiveness of cryptocurrency transactions.Also, Explore | Addressing the Quantum Threat | A Guide to Crypto ProtectionThe design of Mochimo addresses a variety of challenges:As cryptocurrencies have developed, their broad usage has led to a number of difficulties. A lot of coins from the second generation try to address one or more of these problems. However, the Mochimo team has developed a thorough and progressive strategy by including a variety of cutting-edge design elements in bitcoin that successfully solve all of the following issues rather than putting answers into place piecemeal.• The Threat of Quantum Computers.• A Long-Term Solution for Network Scalability.• Ensuring FIFO Transactions and No Transaction Queues.• Transaction Throughput and Security.You may also like | Quantum Resistant Cryptocurrency: A Complete GuideNotable Currency Statistics in MochimoSupply Maximum: 76,533,882Coins that can be mined: 71,776,816 (93.8%)Trigg's Algorithm-PoW is the mining algorithm.Challenge Modification: Each BlockGoal Block Duration: 337.5 SecondsGenesis Block: Network TX, June 25, 2018 Fee: fixed at.0000005 MCMInitial incentive: 5.0 MCM per block Bonus Growth (through Block 373,760) Four Years:.00015 MCMBlock 373,760's maximum reward is 59.17 MCM per block.Reward Decrement:.000028488 (through Block 2,097,152 22 Years) MCMBlock 2,097,152 Final Reward: 5 MCMComplete Mining Time frame: about 22 yearsPremine Specifics:-Premine total: 6.34% (4.76M MCM)Premine for Dev Team Compensation: 4.18% (3.2M MCM)Other Premine: 2.16% (1.56M MCM) (run by the Mochimo Foundation)Genesis Block: 23:40 UTC on June 25, 2018You may also like | Quantum-Resistant Blockchain: A Comprehensive GuideSeveral crucial actions must be taken to incorporate Mochimo's quantum-resistant features into your application:1. Download and Install Mochimo Server: Mochimo Website: https://mochimo.org/ Mochimo GitHub: https://github.com/mochimodev/mochimo.git 2. Set up the server and find the configuration files:Locate the Mochimo configuration files after installation; these are often located in the installation directory.3. Modify the configuration:Use a text editor to open the primary configuration file, which is frequently called mochimo.conf. Set up parameters like data folders, network settings, and port numbers. Verify that the server is configured to listen on localhost, which is usually 127.0.0.1.4. Launch the server for Mochimo:Get a Command Prompt or Terminal open. Go to the directory where Mochimo is installed. Start the ServerAlso, Explore | How to Build a Cross-Chain Bridge Using Solidity and RustStep-by-Step Integration of Mochimo Server with Your Express Application:1. Ensure that the Mochimo server is operating locally and listening on the designated port, which is 2095 by default.2. Install Node.js and install the required packages for your Express application.3. Install Required Packages: npm install express body-parser axios netThe code is here: const express = require('express'); const bodyParser = require("body-parser"); const net = require('net'); const axios = require('axios'); const app = express(); const port = 9090; const MOCHIMO_NODE_URL = 'http://localhost:2095'; app.use(bodyParser.json()); // Function to check the Mochimo server status using a socket const checkMochimoStatus = () => { return new Promise((resolve, reject) => { const client = new net.Socket(); client.connect(2095, 'localhost', () => { console.log('Connected to Mochimo Server'); client.write('Your command here\n'); // Replace with a valid command if necessary }); client.on('data', (data) => { console.log('Received:', data.toString()); resolve(data.toString()); client.destroy(); }); client.on('error', (err) => { console.error('Socket error:', err); reject(err); client.destroy(); }); client.on('close', () => { console.log('Connection closed'); }); setTimeout(() => { Mochimo Website: console.log('Connection timed out'); client.destroy(); }, 10000); }); }; // Endpoint to check Mochimo server status app.get('/check-mochimo-status', async (req, res) => { try { const response = await checkMochimoStatus(); console.log("Response:", response); res.status(200).json({ message: 'Mochimo Server is running', data: response, }); } catch (error) { res.status(500).json({ message: 'Failed to connect to Mochimo Server', error: error.message, }); } }); // Endpoint to send a transaction to the Mochimo server app.post('/send-transaction', async (req, res) => { const { sender, recipient, amount, privateKey } = req.body; try { const response = await axios.post(`${MOCHIMO_NODE_URL}/api/transactions/send`, { sender, recipient, amount, privateKey, }); res.status(200).json({ message: 'Transaction sent successfully', transaction: response.data, }); } catch (error) { console.error('Error sending transaction:', error); res.status(500).json({ error: 'Failed to send transaction: ' + error.message }); } }); // Endpoint to check the balance of an address app.get('/balance/:address', async (req, res) => { const { address } = req.params; try { const response = await axios.get(`${MOCHIMO_NODE_URL}/api/addresses/${address}`); res.status(200).json({ address, balance: response.data.balance, }); } catch (error) { console.error('Error fetching balance:', error); res.status(500).json({ error: 'Failed to fetch balance: ' + error.message }); } }); // Start the Express server app.listen(port, () => { console.log(`Mochimo backend application listening at http://localhost:${port}`); });ConclusionThe impending development of quantum computing poses serious problems for the cryptocurrency market and compromises the safety of well-known assets like Ethereum and Bitcoin. Strong post-quantum solutions are becoming increasingly important as these technologies advance. Proactive efforts are being made to create a new generation of cryptocurrencies that are intrinsically immune to quantum attacks, as demonstrated by projects like Mochimo. To solve the shortcomings of existing systems and provide a safe and convenient environment for users, Mochimo intends to incorporate sophisticated encryption techniques, improved scalability, and effective transaction processing. To ensure the long-term viability and security of digital assets in a post-quantum world, the cryptocurrency industry will need to employ quantum-resistant technologies as it navigates this transition. If you are looking to build a blockchain-based application, connect with our skilled blockchain developers to get started.

Technology: PYTHON , Web3.js more Category: Blockchain

Tushar Shrivastava

04 Nov 2024

Decentralized Prediction Market Development on Ethereum Decentralized Prediction Market Development on EthereumPrediction markets offer a fascinating blend of finance, information aggregation, and blockchain technology, enabling users to bet on future events transparently and autonomously. In this blog, we'll walk through creating a decentralized prediction market on Ethereum, exploring its structure, coding it in Solidity, and deploying it on the blockchain. By the end, you'll have a foundational understanding of decentralized prediction markets and the knowledge to build one yourself. If you are looking for more about DeFi, visit our DeFi development servicesPrerequisitesBasic knowledge of Solidity and Ethereum Smart Contracts.Installed tools: Node.js, npm, Truffle, and Ganache or Hardhat.Ethereum wallet: MetaMask for testing on a public testnet like Rinkeby or Goerli.You may also like | How to Create a Yield Farming ContractWhat is a Decentralized Prediction Market?A decentralized prediction market allows users to place bets on the outcome of a specific event. Outcomes are decided based on real-world data, and payouts are distributed depending on the result. Events could range from elections to sports outcomes or even crypto price forecasts. The decentralized nature of Ethereum-based prediction markets offers users transparency, fairness, and immutability.Designing the Prediction Market Smart ContractOur smart contract will allow users to:Create markets for predicting events.Place bets on available outcomes.Settle markets based on outcomes.Distribute winnings based on the outcome.Key FunctionsCreating a Market: Allow a user to create a prediction market.Placing Bets: Allow users to place bets on specified outcomes.Finalizing Market: After the outcome is known, finalize the market and distribute winnings.Also, Explore | How to Create a Liquid Staking PoolA Step-by-Step Code ExplanationHere's a basic Solidity smart contract to get started:solidity// SPDX-License-Identifier: MIT pragma solidity ^0.8.0; contract PredictionMarket { enum MarketOutcome { None, Yes, No } struct Market { string description; uint256 deadline; MarketOutcome outcome; bool finalized; uint256 totalYesBets; uint256 totalNoBets; mapping(address => uint256) yesBets; mapping(address => uint256) noBets; } mapping(uint256 => Market) public markets; uint256 public marketCount; address public admin; event MarketCreated(uint256 marketId, string description, uint256 deadline); event BetPlaced(uint256 marketId, address indexed user, MarketOutcome outcome, uint256 amount); event MarketFinalized(uint256 marketId, MarketOutcome outcome); modifier onlyAdmin() { require(msg.sender == admin, "Only admin can execute"); _; } constructor() { admin = msg.sender; } // Create a new market function createMarket(string memory _description, uint256 _deadline) public onlyAdmin { require(_deadline > block.timestamp, "Deadline must be in the future"); Market storage market = markets[marketCount++]; market.description = _description; market.deadline = _deadline; emit MarketCreated(marketCount - 1, _description, _deadline); } // Place a bet function placeBet(uint256 _marketId, MarketOutcome _outcome) public payable { Market storage market = markets[_marketId]; require(block.timestamp < market.deadline, "Betting period is over"); require(_outcome == MarketOutcome.Yes || _outcome == MarketOutcome.No, "Invalid outcome"); require(msg.value > 0, "Bet amount must be greater than zero"); if (_outcome == MarketOutcome.Yes) { market.yesBets[msg.sender] += msg.value; market.totalYesBets += msg.value; } else { market.noBets[msg.sender] += msg.value; market.totalNoBets += msg.value; } emit BetPlaced(_marketId, msg.sender, _outcome, msg.value); } // Finalize the market with the actual outcome function finalizeMarket(uint256 _marketId, MarketOutcome _outcome) public onlyAdmin { Market storage market = markets[_marketId]; require(block.timestamp >= market.deadline, "Market cannot be finalized before deadline"); require(!market.finalized, "Market already finalized"); market.outcome = _outcome; market.finalized = true; emit MarketFinalized(_marketId, _outcome); } // Claim winnings function claimWinnings(uint256 _marketId) public { Market storage market = markets[_marketId]; require(market.finalized, "Market not finalized yet"); uint256 payout; if (market.outcome == MarketOutcome.Yes) { uint256 userBet = market.yesBets[msg.sender]; payout = userBet + (userBet * market.totalNoBets / market.totalYesBets); market.yesBets[msg.sender] = 0; } else if (market.outcome == MarketOutcome.No) { uint256 userBet = market.noBets[msg.sender]; payout = userBet + (userBet * market.totalYesBets / market.totalNoBets); market.noBets[msg.sender] = 0; } require(payout > 0, "No winnings to claim"); payable(msg.sender).transfer(payout); } }Also, Check | How to Swap Tokens on Uniswap V3Explanation of the CodeStructs and Enums: We define a Market struct to store the details of each prediction market, and an enum MarketOutcome to represent the possible outcomes (Yes, No, or None).Market Creation: The createMarket function lets the admin create a market, specifying a description and a deadline.Betting on Outcomes: placeBet allows users to bet on an outcome (Yes or No) with an amount in Ether.Finalizing the Market: finalizeMarket enables the admin to lock in the actual outcome once the event is over.Claiming Winnings: Users can call claimWinnings to receive their payout if they bet on the correct outcome.ConclusionIn conclusion, developing a decentralized prediction market on Ethereum provides a powerful way to leverage blockchain's transparency, security, and trustlessness. By following the outlined steps, developers can create platforms that foster open participation and reliable forecasting. This innovation empowers users to make informed predictions while maintaining trust in the system, ultimately contributing to a more decentralized and efficient financial ecosystem. Embrace this opportunity to build solutions that harness the full potential of blockchain technology. Connect with our skilled blockchain developers for more information.

Technology: PYTHON , Web3.js more Category: Blockchain

Yogesh Sahu

30 Oct 2024

Node Sale as a Service | Simplifying Fundraising for Businesses As blockchain technology quickly changes, many businesses find it difficult to set up and manage the necessary infrastructure. They need secure, scalable, and affordable solutions to make the most of blockchain's benefits like transparency, efficiency, and decentralization. However, more than 40% of companies trying to adopt blockchain say that the costs and technical difficulties of setting up and maintaining the infrastructure create big challenges. This often slows down their efforts to develop blockchain projects. To address these issues, many companies are turning toblockchain development services for support.Node Sale as a Service addresses this challenge by giving businesses easy access to blockchain nodes without the steep learning curve. These services allow companies to bypass the complex process of hardware setup, maintenance, and scaling, providing ready-to-use blockchain infrastructure.This blog aims to inform businesses about Node Sale Services and demonstrate their potential benefits. By the end, you'll understand how these services can help you streamline your blockchain initiatives and drive operational efficiency and growth.Read Also |Understanding Crypto Nodes: The Backbone of BlockchainWhat Are Node Sale Services?Node Sale Services are managed services that let businesses access blockchain nodes on a purchase or subscription basis. Rather than requiring companies to set up nodes on their own—which involves complex technical processes and significant infrastructure costs—these services offer ready-to-use blockchain nodes that support various networks.FunctionalityNode Sale Services allow businesses to acquire different types of blockchain nodes (e.g., full nodes, validator nodes) without needing extensive technical expertise. Typically, the service provider handles setup, configuration, monitoring, and maintenance, allowing businesses to connect to blockchain networks quickly and easily. This functionality is especially valuable for companies looking to leverage blockchain without diverting resources to in-house node management.Check it Out |Layer 2 Solutions for Crypto Exchange DevelopmentTypes of Nodes AvailableNode Sale Services usually offer several types of nodes:Full Nodes: Store a complete copy of the blockchain ledger, ensuring security and reliability.Validator Nodes: Participate in consensus by validating transactions, which is critical for networks using Proof of Stake (PoS).Light Nodes:Designed for lightweight interactions, downloading only a portion of the blockchain data.Each type offers unique advantages depending on the specific goals and needs of a business.Also, Read |Unveiling the Potential Layer 3 Blockchain DevelopmentWhy Businesses Should Consider Node Sale ServicesAccess to Blockchain InfrastructureNode Sale Services simplify access to blockchain infrastructure by providing ready-to-deploy nodes. With these services, businesses can connect to blockchain networks quickly and efficiently without needing extensive technical expertise or lengthy setup processes.Cost and Time EfficiencyBy outsourcing infrastructure through Node Sale Services, businesses save on the substantial costs associated with in-house node setup, technical skill requirements, and maintenance. This allows companies to focus on core operations and reallocate resources toward growth and development.Enhanced ScalabilityNode Sale Services offer the flexibility to scale blockchain operations up or down as demand changes. When blockchain usage increases, companies can easily add nodes or upgrade services without overhauling infrastructure, allowing them to adapt seamlessly to market needs.Expert Support and MaintenanceNode Sale Services include expert support, offering assistance with setup, troubleshooting, and ongoing maintenance. This expert support reduces the need for an in-house technical team and provides peace of mind to businesses, knowing they have access to knowledgeable professionals.Opportunity for Revenue GenerationOperating nodes can also create an additional revenue stream for businesses. Companies can use their nodes to earn income through transaction fees, staking rewards, or by offering blockchain services to other businesses. This revenue potential allows businesses to offset initial costs and potentially achieve profit over time.You may also like |Comprehending ZK Rollups | Layer 2 Scaling SolutionsReal-World Use Cases of Node Sale ServicesFintech CompanyA fintech company can leverage Node Sale Services to enhance its blockchain capabilities and expand into decentralized finance (DeFi) offerings. By accessing blockchain nodes quickly and affordably, the company introduced new DeFi products faster, allowing it to stay competitive in a rapidly evolving market.Supply Chain ManagementA supply chain company uses Node Sale Services to improve transparency and efficiency by tracking goods at every stage of the process. By deploying nodes, the company reduced fraud and improved traceability, enhancing both customer trust and operational effectiveness.Healthcare SectorA healthcare organization can utilize Node Sale Services to create a secure, decentralized patient record system. By deploying nodes across various hospitals, the organization ensured that patient data remained tamper-proof and accessible only to authorized personnel. This improved data sharing among healthcare providers while maintaining patient privacy, ultimately enhancing the quality of care.Gaming IndustryA gaming company can adopt Node Sale Services to support its blockchain-based gaming platform. By quickly deploying nodes, the company can enable real-time transactions for in-game assets and rewards. It can allow players to trade and own their digital items securely. This increased player engagement and created a thriving marketplace for virtual goods.Explore |Blockchain Oracles | Making Smart Contracts Talk to the WorldConclusionNode Sale Services provides a practical solution for businesses looking to adopt blockchain without the complexity and expense of in-house node management. These services offer easy access to blockchain infrastructure, cost and time efficiency, scalability, expert support, and revenue opportunities.If you're ready to elevate your blockchain strategy, consider Node Sale Services as a path forward. Contact our experiencedblockchain developers to learn more or schedule a consultation to discuss how these services can support your business goals and drive growth.

Technology: HYPERLEDGER FABRIC CA , HARDHAT more Category: Blockchain

Saumya Srivastava

30 Oct 2024

Creating a Token Vesting Contract on Solana Blockchain In the world of crypto/token development and blockchain, token vesting is a vital mechanism used to allocate tokens to individuals over a specified period rather than all at once. This approach helps to align the interests of contributors, advisors, and investors with the long-term success of a project. In this blog, we'll explore the concept of token vesting, and how it works, and dive into a practical implementation using the Simple Token Vesting contract written in Rust with the Anchor framework.What is Token Vesting?Token vesting involves gradually releasing tokens to individuals (beneficiaries) based on predefined schedules and conditions. This helps prevent immediate sell-offs and incentivises participants to stay committed to the project. The key benefits of token vesting include:Promoting Long-Term Commitment: Beneficiaries are motivated to remain involved with the project.Preventing Market Manipulation: Reduces the risk of large sell-offs that could affect the token's price.Aligning Interests: Ensures that all parties work toward the project's success over time.Also, Explore | How to Build a Crypto Portfolio TrackerThe Structure of the Simple Token Vesting ContractThe Simple Token Vesting contract provides a framework for managing token vesting on the Solana blockchain. Let's break down its main components:Initialization: The Admin sets up the contract with a list of beneficiaries and allocates tokens for them.Releasing Tokens: The Admin can release a percentage of tokens to beneficiaries periodically.Claiming Tokens: Beneficiaries can claim their vested tokens based on the amount released.#[program] pub mod token_vesting { use super::*; pub fn initialize(ctx: Context<Initialize>, beneficiaries: Vec<Beneficiary>, amount: u64, decimals: u8) -> Result<()> { // Initialization logic here... } pub fn release(ctx: Context<Release>, percent: u8) -> Result<()> { // Release logic here... } pub fn claim(ctx: Context<Claim>, data_bump: u8) -> Result<()> { // Claim logic here... } } Also, Read | How to Deploy a TRC-20 Token on the TRON BlockchainHow the Contract Works1. Initialisation FunctionDuring initialization, the Admin calls the initialise function to set up the vesting contract. This function takes a list of beneficiaries, the total amount of tokens to vest, and the token's decimals. Here's how it looks in the code:pub fn initialize(ctx: Context<Initialize>, beneficiaries: Vec<Beneficiary>, amount: u64, decimals: u8) -> Result<()> { let data_account = &mut ctx.accounts.data_account; data_account.beneficiaries = beneficiaries; data_account.token_amount = amount; data_account.decimals = decimals; // Transfer tokens from Admin to escrow wallet let transfer_instruction = Transfer { from: ctx.accounts.wallet_to_withdraw_from.to_account_info(), to: ctx.accounts.escrow_wallet.to_account_info(), authority: ctx.accounts.sender.to_account_info(), }; let cpi_ctx = CpiContext::new( ctx.accounts.token_program.to_account_info(), transfer_instruction, ); token::transfer(cpi_ctx, amount * u64::pow(10, decimals as u32))?; Ok(()) } Explanation:Parameters: The function takes a list of beneficiaries, the total token amount to be vested, and the decimals.Data Account: Initialises a data account to keep track of the beneficiaries and their allocations.Token Transfer: Transfers the specified amount of tokens from the Admin's wallet to the escrow wallet for distribution.You may also like | How to Create an ERC 721C Contract2. Release FunctionThe release function allows the Admin to specify what percentage of the total tokens is available for beneficiaries to claim. Here's the code:pub fn release(ctx: Context<Release>, percent: u8) -> Result<()> { let data_account = &mut ctx.accounts.data_account; data_account.percent_available = percent; // Set the available percentage Ok(()) }Explanation:Setting Percent Available: The Admin can call this function to set a percentage that beneficiaries can claim. For example, if percent is set to 20, beneficiaries can claim 20% of their allocated tokens.3. Claim FunctionBeneficiaries use the claim function to withdraw their available tokens. Here's how it works:pub fn claim(ctx: Context<Claim>, data_bump: u8) -> Result<()> { let data_account = &mut ctx.accounts.data_account; let beneficiaries = &data_account.beneficiaries; let (index, beneficiary) = beneficiaries.iter().enumerate().find(|(_, beneficiary)| beneficiary.key == *sender.to_account_info().key) .ok_or(VestingError::BeneficiaryNotFound)?; let amount_to_transfer = ((data_account.percent_available as f32 / 100.0) * beneficiary.allocated_tokens as f32) as u64; // Transfer tokens to beneficiary's wallet let transfer_instruction = Transfer { from: ctx.accounts.escrow_wallet.to_account_info(), to: beneficiary_ata.to_account_info(), authority: data_account.to_account_info(), }; let cpi_ctx = CpiContext::new_with_signer( token_program.to_account_info(), transfer_instruction, signer_seeds ); token::transfer(cpi_ctx, amount_to_transfer * u64::pow(10, data_account.decimals as u32))?; data_account.beneficiaries[index].claimed_tokens += amount_to_transfer; Ok(()) }Explanation:Finding Beneficiary: The function identifies the calling beneficiary from the list.Calculating Transfer Amount: It calculates how much the beneficiary can claim based on the percentage available.Token Transfer: Transfers the calculated amount from the escrow wallet to the beneficiary's associated token account.Also, Check | How to Create and Deploy an ERC404 token contractConclusionToken vesting is a powerful tool in the cryptocurrency ecosystem that promotes long-term commitment among participants. The Simple Token Vesting contract provides a straightforward implementation for managing vesting schedules on the Solana blockchain, allowing for flexible token distribution over time.With the ability to define beneficiaries, release tokens, and claim rewards, this contract exemplifies how token vesting can align the interests of a project's contributors with its long-term success. Whether you are a developer looking to implement a vesting mechanism or a project owner aiming to incentivize your team, understanding and utilizing token vesting is crucial in today's crypto landscape. Looking for assistance with a similar project, connect with our crypto/token developers to get started.

Technology: PYTHON , Web3.js more Category: Blockchain

Ashutosh Modanwal

29 Oct 2024

Everything About Crypto Intent Prediction Marketplaces The crypto market's high-end volatility presents a constant challenge for crypto users and businesses alike. Price fluctuations, shifting trends, and investor sentiment can result in costly mistakes or missed opportunities. Traditional trading tools often lack the real-time insights needed to stay competitive, exposing businesses to uncertainty.Enter the world ofcrypto intent prediction marketplaces.Theseplatforms harness vast amounts of digital data, apply machine learning, and deliver predictive insights on market trends and investor behavior. With the evolvingDeFi development services, these platforms allow businesses to navigate the crypto market confidently. They also enable informed decisions, proactive risk management, and profit maximization.This blog explores how crypto intent prediction marketplaces work, and the essential components that make them effective. It also explores how they provide transformative value to businesses in the crypto space.Explore |AI Crypto Trading Bots | Reshaping Crypto TradingWhat Are Crypto Intent Prediction Marketplaces?To understand intent prediction, let's first break down what we mean by “intent.” In simple terms, intent refers to what people plan or are likely to do. In the context of crypto markets, intent prediction involves using data to forecast what investors and traders might do next. It could depend on social media activity, such as a sudden spike in tweets about a particular coin or search engine queries indicating growing interest in a specific cryptocurrency. The idea is to gauge the market's mood before it translates into actual buying or selling.Definition: Acrypto intent prediction marketplace is a platform that helps businesses and traders anticipate future movements in the cryptocurrency market. It does this by gathering and analyzing data from various sources, like social media discussions, smart contracts blockchain transactions, search trends, and news articles. By using advanced algorithms, the marketplace interprets these data points to predict how investors might act, such as whether they are likely to buy or sell certain cryptocurrencies.This allows crypto users to get a sense of market sentiment and make smarter, more informed decisions about their trades. Essentially, it's a tool that gives you an early warning system for market trends, helping businesses minimize risk and take advantage of new opportunities in the fast-moving world of crypto.Understanding Crypto Intent SignalsCrypto intent signals play a crucial role in the functioning of crypto intent prediction marketplaces. These marketplaces gather and analyze digital clues left behind by internet users, such as social media mentions, search engine trends, transaction patterns, and news coverage, to predict future market movements.By interpreting these intent signals, the platforms can anticipate shifts in investor behavior. It helps traders and businesses make informed decisions before market actions like buying or selling occur. Essentially, crypto intent prediction marketplaces turn these signals into actionable insights, enabling users to stay ahead of market trends and minimize risks in the volatile crypto landscape.Crypto intent prediction marketplaces use data to forecast what investors and traders are likely to do next. They analyze crypto intent signals—digital clues left by online activity such as social media mentions, search engine trends, blockchain transactions, and media coverage. By understanding these crypto intent signals, businesses can anticipate market movements before they happen, empowering them to make smarter, data-driven decisions.Check it out |Exploring Crypto Arbitrage Trading Bot and DevelopmentBenefits of Crypto Intent Prediction MarketplacesIntent prediction marketplaces bring a game-changing advantage: the ability to forecast market trends. Unlike traditional analysis, which relies on past data, intent prediction looks ahead by analyzing what people are planning to do. This gives businesses a clearer sense of where the market is headed, much like having a GPS for crypto investments. Building a crypto intent prediction marketplace creates new opportunities for traders and crypto investors to leverage collective intelligence, make more informed decisions, and drive innovation in decentralized finance.Here's how crypto intent prediction marketplaces bring value to businesses, investors, and crypto users.Informed Decision-Making and Risk ManagementCrypto intent prediction platforms provide real-time, actionable insights that help businesses and their users make more informed decisions. By transforming raw data into market forecasts, businesses can share insights that allow users to identify opportunities early and adjust their strategies proactively. This helps businesses and their users manage risk more effectively.Example: A spike in mentions of Solana signals rising interest. By relaying this information to users, a business enables them to buy Solana before prices surge, reducing risk and maximizing returns.Real-Time Sentiment Analysis and Market AlignmentThese platforms track real-time sentiment through social media activity and other data sources, allowing businesses to offer their users insights that align with market trends. This gives users the ability to act quickly, putting them ahead of competitors relying on delayed data.Example: If a new DeFi project generates excitement, businesses can share this sentiment analysis with their users, helping them invest early to take advantage of the positive sentiment.Custom Alerts for Better Market TrackingWith intent prediction platforms, businesses can offer users customizable alerts for specific triggers, such as on-chain activity spikes or surges in social media mentions. These real-time notifications allow users to react quickly to emerging trends, without constant manual monitoring.Example: A business could enable users to set alerts for when mentions of "Ethereum staking" surpass a certain threshold, allowing them to make swift adjustments to their portfolios.Operational Efficiency and Time SavingsCrypto intent prediction platforms automate data collection and analysis, saving businesses and their users time. By offering users a centralized dashboard with predictive insights, businesses can streamline operations and focus on higher-level strategies, delivering more value to their clients.Example: Rather than manually tracking market signals, users can view aggregated data through a business's platform, enabling them to make faster, more informed trading decisions.Revenue Generation and ScalabilityIntent prediction marketplaces offer businesses several monetization opportunities, which they can pass on to their users. These platforms can generate revenue through subscriptions, premium features, or selling market insights. Additionally, as the business scales, these platforms can integrate new data sources and expand to cover more markets, offering users a more comprehensive toolset.Example: A company could offer premium access to real-time signals and advanced analytics, generating subscription revenue while expanding its platform to serve more users.Market Leadership and Competitive EdgeBusinesses using real-time predictive insights have a competitive advantage, which they can extend to their users. By providing insights that allow users to make faster, more informed decisions, companies can position themselves as leaders in the evolving crypto space.Example: While competitors react late to market shifts, businesses using intent prediction platforms can help their users adjust holdings early, ensuring better performance during periods of high volatility.Blockchain Transparency, Trust, and Privacy ProtectionBlockchain technology adds transparency to intent prediction platforms by creating immutable records of crypto predictions and transactions. This not only builds trust among users but also ensures privacy through cryptographic techniques, allowing businesses to protect their client's sensitive information.Example: Businesses can assure their users that the insights they provide are backed by secure, verifiable data that hasn't been tampered with.Liquidity Pools for Market StabilityLiquidity pools within these platforms ensure smoother trading operations. They provide the necessary capital for transactions, preventing sudden price swings and maintaining stability during market shifts. This benefits businesses and their users by ensuring more efficient trading.Example: During periods of high market volatility, liquidity pools ensure users can execute trades without destabilizing prices.Democratizing Market InfluenceCrypto intent prediction marketplaces allowbusinesses of all sizes to offer insights and influence market predictions. Whether it's a small firm or a larger enterprise, these platforms enable all participants to deliver high-quality data to their users, leveling the playing field and enhancing the data pool.Example: Startups can leverage intent prediction platforms to provide their users with insights that previously only larger firms could offer, creating a fairer and more competitive environment.Suggested Read |Twitter to Add Crypto Trading FeatureConclusionCrypto intent prediction marketplaces provide businesses with a powerful tool to navigate the unpredictable crypto market while offering immense value to their users. These platforms deliver real-time, data-driven insights that enhance decision-making, reduce risk, and improve operational efficiency. By adopting these tools, businesses can establish long-term strategies, generate new revenue streams, and position themselves as market leaders—all while empowering their clients to make smarter, faster trading decisions.As crypto markets grow in complexity, businesses that embracecrypto intent prediction marketplaces will not only secure a competitive edge but also help their users succeed in a rapidly evolving landscape.Our expert blockchain developers at Oodles Blockchain design innovative intent prediction platforms to help businesses thrive in the dynamic crypto market. Leverage predictive insights, reduce uncertainty, and boost profitability with our blockchain services. Connect with us now to enhance your business strategies!

Technology: PYTORCH , SMART CONTRACT more Category: Blockchain

Saumya Srivastava

23 Oct 2024

How to Write and Deploy Modular Smart Contracts Modular contracts enable highly configurable and upgradeable smart contract development, combining ease of use with security. They consist of two main components:Core Contracts: These form the foundation of the modular system, managing key functions, data storage, and logic. Core contracts include access control mechanisms and define interfaces for module interactions.Module Contracts: These add or remove functionalities to/from core contracts dynamically, allowing for flexibility. Modules can be reused across multiple core contracts, enabling upgrades without redeploying the core contract.How They Work: Modules provide additional functionality via callback and fallback functions that interact with core contracts. Fallback functions operate independently, while callback functions augment core contract logic, enhancing dApp functionality.You may also like | How to Create Play-to-Earn Gaming Smart ContractsSetup | Writing and Deploying Modular Smart ContractsInstall Forge from Foundry and add the modular contract framework:forge init forge install https://github.com/thirdweb-dev/modular-contracts.git forge remappings > remappings.txt ContractThe ERC20Core contract is a type of ERC20 token that combines features from both the ModularCore and the standard ERC20 contract. It names the token "Test Token" and uses "TEST" as its symbol, with the deployer being the owner of the contract. A significant feature is the required beforeMint callback, which allows certain actions to be taken before new tokens are created. The mint function lets users create tokens while ensuring the callback is executed first. The BeforeMintCallback interface makes it easier to add custom logic from other contracts. Overall, ERC20Core offers a flexible way to develop custom tokens while maintaining essential ERC20 functions.// SPDX-License-Identifier: UNLICENSED pragma solidity ^0.8.13; import {ModularCore} from "lib/modular-contracts/src/ModularCore.sol"; import {ERC20} from "lib/solady/src/tokens/ERC20.sol"; contract ERC20Core is ModularCore, ERC20 { constructor() { _setOwner(msg.sender); } function name() public view override returns (string memory) { return "Test Token"; } function symbol() public view override returns (string memory) { return "TEST"; } function getSupportedCallbackFunctions() public pure virtual override returns (SupportedCallbackFunction[] memory supportedCallbacks) { supportedCallbacks = new SupportedCallbackFunction[](1); supportedCallbacks[0] = SupportedCallbackFunction(BeforeMintCallback.beforeMint.selector, CallbackMode.REQUIRED); } function mint(address to, uint256 amount) external payable { _executeCallbackFunction( BeforeMintCallback.beforeMint.selector, abi.encodeCall(BeforeMintCallback.beforeMint, (to, amount)) ); _mint(to, amount); } } interface BeforeMintCallback { function beforeMint(address to, uint256 amount) external payable; } Also, Read | ERC 4337 : Account Abstraction for Ethereum Smart Contract WalletsThe PricedMint contract is a modular extension designed for token minting, leveraging Ownable for ownership management and ModularExtension for added functionality. It uses the PricedMintStorage module to maintain a structured storage system for the token price. The owner can set the minting price through the setPricePerUnit method. Before minting, the beforeMint function verifies that the provided ether matches the expected price based on the token quantity. If correct, the ether is transferred to the contract owner. The getExtensionConfig function defines the contract's callback and fallback functions, facilitating integration with other modular components.// SPDX-License-Identifier: UNLICENSED pragma solidity ^0.8.13; import {ModularExtension} from "lib/modular-contracts/src/ModularExtension.sol"; import {Ownable} from "lib/solady/src/auth/Ownable.sol"; library PricedMintStorage { bytes32 public constant PRICED_MINT_STORAGE_POSITION = keccak256(abi.encode(uint256(keccak256("priced.mint")) - 1)) & ~bytes32(uint256(0xff)); struct Data { uint256 pricePerUnit; } function data() internal pure returns (Data storage data_) { bytes32 position = PRICED_MINT_STORAGE_POSITION; assembly { data_.slot := position } } } contract PricedMint is Ownable, ModularExtension { function setPricePerUnit(uint256 price) external onlyOwner { PricedMintStorage.data().pricePerUnit = price; } function beforeMint(address to, uint256 amount) external payable { uint256 pricePerUnit = PricedMintStorage.data().pricePerUnit; uint256 expectedPrice = (amount * pricePerUnit) / 1e18; require(msg.value == expectedPrice, "PricedMint: invalid price sent"); (bool success,) = owner().call{value: msg.value}(""); require(success, "ERC20Core: failed to send value"); } function getExtensionConfig() external pure virtual override returns (ExtensionConfig memory config) { config.callbackFunctions = new CallbackFunction ; config.callbackFunctions[0] = CallbackFunction(this.beforeMint.selector); config.fallbackFunctions = new FallbackFunction ; config.fallbackFunctions[0] = FallbackFunction(this.setPricePerUnit.selector, 0); } } DeployTo deploy the Modular Contract, first get your API Key from the Thirdweb Dashboard. Then run npx thirdweb publish -k "THIRDWEB_API_KEY", replacing "THIRDWEB_API_KEY" with your key. Select "CounterModule," scroll down, click "Next," choose the "Sepolia" network, and click "Publish Contract."For the Core Contract, run npx thirdweb deploy -k "THIRDWEB_API_KEY" in your terminal, replacing "THIRDWEB_API_KEY" with your key. Select "CounterCore," enter the contract owner's address, and click "Deploy Now." Choose the "Sepolia" chain and click "Deploy Now" again to start the deployment.Also, Explore | How to Create a Smart Contract for Lottery SystemConclusionModular contracts represent a design approach in smart contract development that prioritizes flexibility, reusability, and separation of concerns. By breaking down complex functionalities into smaller, interchangeable modules, developers can create more maintainable code and implement updates more easily without losing existing state. Commonly utilized in token standards and decentralized finance (DeFi), modular contracts enhance the creation of decentralized applications (dApps) and promote interoperability, thereby fostering innovation within the blockchain ecosystem. If you are looking for enterprise-grade smart contract development services, connect with our skilled Solidity developers to get started.

Technology: MEAN , PYTHON more Category: Blockchain

Mudit Singh

03 Oct 2024

Understanding Decentralized Oracle Network Development with Chainlink Blockchains, while secure, cannot access real-world data on their own. This limitation creates challenges for blockchain development (dApps) that require external information, like price feeds or weather data. Chainlink, a leading decentralized oracle network (DON), solves this problem by securely connecting smart contracts to off-chain data sources.You may also like | Oracle Development Using Ethereum Smart ContractsHow Chainlink WorksChainlink uses a decentralized network of independent nodes, known as oracles, to fetch, verify, and deliver external data to smart contracts. These oracles bridge the gap between blockchain and real-world information, ensuring data accuracy and preventing tampering. Chainlink's decentralized structure avoids single points of failure, making the system more reliable.Also, check | Blockchain Oracles | Making Smart Contracts Talk to the WorldArchitecture of Chainlink's Decentralized Oracle Network +-----------------------------+ | Decentralized Oracle | | Network (DON) | +-----------------------------+ | +-------------+-------------+ +------------v----------+ +------------v----------+ | Oracle Node 1 | | Oracle Node 2 | | - Fetches data | | - Fetches data | +------------------------+ +------------------------+ | | +------------+----------+ +------------+----------+ | Aggregation Contract | | Aggregation Contract | +------------------------+ +------------------------+ | | +----------v---------+ +------------v--------+ | Smart Contract | | Smart Contract | +---------------------+ +---------------------+ Steps to Build with ChainlinkSmart Contract Development: Create a smart contract specifying the conditions for data requests. Chainlink libraries enable smart contracts to communicate with external oracles.Chainlink Node Setup: Set up oracles to retrieve data from trusted sources like APIs. Multiple nodes ensure decentralization and data accuracy.Requesting Data: Smart contracts send data requests, which Chainlink nodes process by retrieving the required information from external sources.Data Aggregation: The aggregation contract collects and verifies data from different nodes, ensuring accuracy before delivering it to the smart contract.Also, Read | A Comprehensive Guide to Blockchain OracleConclusionChainlink empowers blockchain developers to securely integrate off-chain data into their dApps. Its decentralized oracle network is crucial for industries like DeFi, insurance, and gaming, making Chainlink a vital component for creating trust-minimized, real-world applications. If you are looking to build a decentralized Oracle network with Chainlink to empower your project, connect with our skilled smart contract developers to get started.

Technology: MEAN , PYTHON more Category: Blockchain

Jagveer Singh

02 Oct 2024

Integrate Raydium Swap Functionality on a Solana Program Solana is recognized as a top platform for blockchain app development due to its low transaction fees and excellent throughput. With its smooth token swaps, yield farming, and liquidity pools, Raydium is a well-known automated market maker (AMM) and liquidity provider among the many protocols that flourish on Solana. Developers wishing to expand on this dynamic environment have many options when integrating Raydium's switch feature into custom Solana software.Also, Explore | How to Develop a Crypto Swap Aggregator PlatformThis blog will guide you through the process of using the Raydium SDK and the Solana Web3.js framework to integrate the swap functionality of Raydium into your Solana program.You may also like | How to Build a Solana Sniper BotUsing Raydium SDK and Solana Web.js to Integrate Swap Functionality on a Solana ProrgramPrerequisites:Node.js is installed on your machine.Solana CLI installed and configured.Basic knowledge of TypeScript and Solana development.A basic understanding of how Raydium works.Setting Up the Environment:npm init -ynpm install @solana/web3.js @solana/spl-token @raydium-io/raydium-sdk decimal.js fs@solana/web3.js: The official Solana JavaScript SDK.@solana/spl-token: A library for interacting with the Solana Program Library (SPL) tokens.@raydium-io/raydium-sdk: The Raydium SDK interacts with the protocol's AMM and liquidity pools.decimal.js: A library for handling arbitrary-precision decimal arithmetic.Also, Explore | SPL-404 Token Standard | Enhancing Utility in the Solana EcosystemConnect with Solana Clusterimport { Connection, clusterApiUrl, Keypair, PublicKey, Transaction } from '@solana/web3.js'; const connection = new Connection(clusterApiUrl('devnet'), 'confirmed'); console.log("Connected to Solana Devnet");Payer's Keypair Loading:import * as fs from 'fs'; const data = fs.readFileSync('./secret.json', 'utf8'); const secretKey = Uint8Array.from(JSON.parse(data)); const payer = Keypair.fromSecretKey(secretKey); console.log("Payer's public key:", payer.publicKey.toBase58());Creating and Minting SPL Tokensimport { createMint, getMint, mintTo, getOrCreateAssociatedTokenAccount } from '@solana/spl-token'; const token1 = await createMint(connection, payer, payer.publicKey, null, 9); const token2 = await createMint(connection, payer, payer.publicKey, null, 9); const token1Account = await getOrCreateAssociatedTokenAccount(connection, payer, token1, payer.publicKey); const token2Account = await getOrCreateAssociatedTokenAccount(connection, payer, token2, payer.publicKey); await mintTo(connection, payer, token1, token1Account.address, payer.publicKey, 1000000000); // 1000 tokens await mintTo(connection, payer, token2, token2Account.address, payer.publicKey, 1000000000); console.log("Minted tokens and created associated token accounts.");Creating a Liquidity Pool on Raydium:import { Liquidity, DEVNET_PROGRAM_ID, TxVersion, BN } from '@raydium-io/raydium-sdk'; const targetMarketId = Keypair.generate().publicKey; const startTime = Math.floor(Date.now() / 1000) + 60 * 60 * 24 * 7; const walletAccount = await getWalletTokenAccount(connection, payer.publicKey); const createPoolTx = await Liquidity.makeCreatePoolV4InstructionV2Simple({ connection, programId: DEVNET_PROGRAM_ID.AmmV4, marketInfo: { marketId: targetMarketId, programId: DEVNET_PROGRAM_ID.OPENBOOK_MARKET, }, baseMintInfo: { mint: token1, decimals: 9 }, quoteMintInfo: { mint: new PublicKey('So11111111111111111111111111111111111111112'), decimals: 9 }, baseAmount: new BN(10000), quoteAmount: new BN(10000), startTime: new BN(Math.floor(startTime)), ownerInfo: { feePayer: payer.publicKey, wallet: payer.publicKey, tokenAccounts: walletAccount, useSOLBalance: true, }, associatedOnly: false, checkCreateATAOwner: true, makeTxVersion: TxVersion.V0, }); console.log("Liquidity pool created on Raydium.");Add Liquidity:const addLiquidityTx = await Liquidity.makeAddLiquidityInstructionSimple({ connection, poolKeys, userKeys: { owner: payer.publicKey, payer: payer.publicKey, tokenAccounts: walletAccount, }, amountInA: new TokenAmount(new Token(TOKEN_PROGRAM_ID, token1, 9, 'Token1', 'Token1'), 100), amountInB: maxAnotherAmount, fixedSide: 'a', makeTxVersion, }); console.log("Liquidity added to the pool.");Perform a Swap: const swapInstruction = await Liquidity.makeSwapInstruction({ poolKeys, userKeys: { owner: payer.publicKey, tokenAccountIn: fromTokenAccount, tokenAccountOut: toTokenAccount, }, amountIn, amountOut: minimumAmountOut, fixedSide: "in", }); // Correcting the transaction creation by accessing the correct innerTransaction const transaction = new Transaction().add(...swapInstruction.innerTransaction.instructions); const transactionSignature = await connection.sendTransaction( transaction, [payer], { skipPreflight: false, preflightCommitment: "confirmed" } ); console.log("Swap transaction signature:", transactionSignature);Also, Explore | How to Get the Transaction Logs on SolanaConclusionYou have successfully included Raydium's swap feature into your Solana program by following the instructions provided in this Blog. In the DeFi space, Raydium offers strong tools for swapping and liquidity. If you want to leverage the potential of Solana and Raydium Swap Functionality for your project, connect with our skilled Solana developers to get started.

Technology: SMART CONTRACT , POSTGRESQL more Category: Blockchain

Rahul Maurya

02 Oct 2024

How to Build a Multi-Chain Account Abstraction Wallet Understanding Account AbstractionAfter Vitalik presented the idea of account abstraction in 2015, it gained attention. The word "account abstraction" is wide, but to put it briefly, it refers to the abstraction of the inflexibility and inherent structure of user accounts in a blockchain. This allows for network interaction while also increasing their flexibility and adaptability. Instead of relying on the pre-built standard Blockchain rules, suppliers of crypto wallet solutions develop user-friendly accounts with unique logic that allows them to apply their own asset storage and transaction conditions.This lets the wallet control user actions without requiring users to sign transactions or physically hold private keys. Wallet development teams create smart contracts that function as user accounts in these kinds of applications. These contracts have the ability to communicate across programs, work with several accounts, and apply unique logic.Multi-Chain Support: Bridging or cross-chain communication protocols can be used as a way to communicate with several blockchains.Smart Contract Architecture: A primary contract and perhaps a factory for generating wallet instances will make up the wallet.Also, Read | ERC 4337 : Account Abstraction for Ethereum Smart Contract WalletsHow to Build a Multi-Chain Account Abstraction WalletStep1: Recognise the Complexities of Account AbstractionUnderstanding the ins and outs of account abstraction is crucial before starting the Account Abstraction wallet process. This is the process of providing user-friendly designs while severing the connection between user accounts and Blockchain accounts.Step:2 Choose an Appropriate Blockchain PlatformChoose a blockchain platform that either supports it natively or can be improved to do so. As an alternative, you may think about Ethereum, which comes with a tonne of Ethereum Improvement Proposals, including ERC-4337, a common AA idea.Step:3 Establish a Development EnvironmentInstall the necessary development tools, such as Hardhat, Truffle, and Node.js, to create smart contracts. Additionally, the establishment of a blockchain node can be done with Ganache or by connecting it to a testnet, like Rinkeby or Ropsten.Step:4 Make the contracts for smart contractsMake a smart contract that shows which user account is in charge of managing transaction volume and user authentication. It is also advisable to have a central point contract that facilitates communication with account contracts. Utilise proxy patterns to incorporate security measures for contract upgrades.Step:5 DesignAim for straightforward, user-friendly designs while considering the diverse user bases. Success results from keeping people interested in the wallet. The design is shared for approval when it has been created.Step:6 Security Audits and TestingThe smart contracts will undergo extensive testing following the development of the solution. Testing is done in various settings to check for mistakes and defects. For smart contract assessments, vulnerability detection, and remediation, third-party auditors are hired.Step:7 Install on the MainnetThe system is ready for post-launch post-testing and Mainnet security assessments. This stage involves configuring the server environment and deploying the code into the production environment.Step:8 Upkeep and ModificationsExamine the systems for problems, and where necessary, apply upgrades. Assist users who may have queries or encounter problems when using the wallet. As a result, the solution will become reliable and capable over time.Step:9 Marketing & Getting User FeedbackTo attract consumers' attention, the solution is advertised through various means. This covers joint ventures and collaborations, recommendations, social media marketing, and YouTube advertising. The solution is improved by the collection of user input.Also, Check | How to Build a Cryptocurrency Wallet App Like ExodusBuilding a Multi-Chain Account Abstraction WalletExample: - Set Up Hardhat:-If you haven't set up a Hardhat project yet, you can do so with the following commands:mkdir MultiChainWallet cd MultiChainWallet npm init -y npm install --save-dev hardhat npx hardhatAdd the ContractCreate a file named MultiChainWallet.sol in the contracts directory and paste the contract code:// SPDX-License-Identifier: MIT pragma solidity ^0.8.0; interface IERC20 { function transfer(address recipient, uint256 amount) external returns (bool); function transferFrom(address sender, address recipient, uint256 amount) external returns (bool); function balanceOf(address account) external view returns (uint256); } contract MultiChainWallet { mapping(address => mapping(address => uint256)) private balances; mapping(address => bool) private wallets; event WalletCreated(address indexed owner); event Deposit(address indexed user, address indexed token, uint256 amount); event Withdraw(address indexed user, address indexed token, uint256 amount); modifier onlyWallet() { require(wallets[msg.sender], "Wallet does not exist"); _; } function createWallet() external { require(!wallets[msg.sender], "Wallet already exists"); wallets[msg.sender] = true; emit WalletCreated(msg.sender); } function deposit(address token, uint256 amount) external onlyWallet { require(amount > 0, "Invalid amount"); IERC20(token).transferFrom(msg.sender, address(this), amount); balances[msg.sender][token] += amount; emit Deposit(msg.sender, token, amount); } function withdraw(address token, uint256 amount) external onlyWallet { require(balances[msg.sender][token] >= amount, "Insufficient balance"); balances[msg.sender][token] -= amount; IERC20(token).transfer(msg.sender, amount); emit Withdraw(msg.sender, token, amount); } function getBalance(address token) external view onlyWallet returns (uint256) { return balances[msg.sender][token]; } } contract MockERC20 is IERC20 { string public name; string public symbol; uint8 public decimals = 18; mapping(address => uint256) private _balances; mapping(address => mapping(address => uint256)) private _allowances; constructor(string memory _name, string memory _symbol, address initialAccount, uint256 initialBalance) { name = _name; symbol = _symbol; _balances[initialAccount] = initialBalance; } function transfer(address recipient, uint256 amount) external override returns (bool) { _transfer(msg.sender, recipient, amount); return true; } function transferFrom(address sender, address recipient, uint256 amount) external override returns (bool) { require(amount <= _allowances[sender][msg.sender], "Allowance exceeded"); _approve(sender, msg.sender, _allowances[sender][msg.sender] - amount); _transfer(sender, recipient, amount); return true; } function balanceOf(address account) external view override returns (uint256) { return _balances[account]; } function approve(address spender, uint256 amount) external returns (bool) { _approve(msg.sender, spender, amount); return true; } function allowance(address owner, address spender) external view returns (uint256) { return _allowances[owner][spender]; } function _transfer(address sender, address recipient, uint256 amount) internal { require(sender != address(0), "Transfer from the zero address"); require(recipient != address(0), "Transfer to the zero address"); require(_balances[sender] >= amount, "Insufficient balance"); _balances[sender] -= amount; _balances[recipient] += amount; } function _approve(address owner, address spender, uint256 amount) internal { require(owner != address(0), "Approve from the zero address"); require(spender != address(0), "Approve to the zero address"); _allowances[owner][spender] = amount; } } You may also like | What is the Cost of Creating a Crypto Wallet App in 2024Create the Deployment Script:Create a new file named deploy.js in the scripts directory and add the following code:// scripts/deploy.jsasync function main() { const MockERC20 = await ethers.getContractFactory("MockERC20"); const mockToken = await MockERC20.deploy("Mock Token", "MTK", "0xYourAddressHere", ethers.utils.parseEther("1000")); await mockToken.deployed(); console.log("MockERC20 deployed to:", mockToken.address); } // Execute the script main() .then(() => process.exit(0)) .catch((error) => { console.error(error); process.exit(1); }); Configure Hardhat NetworkEdit the hardhat.config.js file to configure the network you want to deploy to (for example, the Rinkeby testnet or the local Hardhat network):require('@nomiclabs/hardhat-waffle'); module.exports = { solidity: "0.8.0", networks: { rinkeby: { url: 'https://rinkeby.infura.io/v3/YOUR_INFURA_PROJECT_ID', accounts: [`0x${YOUR_PRIVATE_KEY}`] } } }; Create the Test File Create a new file named MultiChainWallet.test.js in the test directory and add the following test cases:// test/MultiChainWallet.test.js// test/MockERC20.test.jsconst { expect } = require("chai"); const { ethers } = require("hardhat"); describe("MockERC20", function () { let mockToken; let owner; let addr1; let addr2; beforeEach(async function () { const MockERC20 = await ethers.getContractFactory("MockERC20"); [owner, addr1, addr2] = await ethers.getSigners(); mockToken = await MockERC20.deploy("Mock Token", "MTK", owner.address, ethers.utils.parseEther("1000")); await mockToken.deployed(); }); describe("Deployment", function () { it("Should set the correct name and symbol", async function () { expect(await mockToken.name()).to.equal("Mock Token"); expect(await mockToken.symbol()).to.equal("MTK"); }); it("Should assign the initial balance", async function () { const balance = await mockToken.balanceOf(owner.address); expect(balance).to.equal(ethers.utils.parseEther("1000")); }); }); describe("Transactions", function () { it("Should transfer tokens between accounts", async function () { await mockToken.transfer(addr1.address, ethers.utils.parseEther("100")); const addr1Balance = await mockToken.balanceOf(addr1.address); expect(addr1Balance).to.equal(ethers.utils.parseEther("100")); }); it("Should approve tokens for spending", async function () { await mockToken.approve(addr1.address, ethers.utils.parseEther("50")); const allowance = await mockToken.allowance(owner.address, addr1.address); expect(allowance).to.equal(ethers.utils.parseEther("50")); }); it("Should transfer tokens from one account to another", async function () { await mockToken.approve(addr1.address, ethers.utils.parseEther("50")); await mockToken.connect(addr1).transferFrom(owner.address, addr2.address, ethers.utils.parseEther("50")); const addr2Balance = await mockToken.balanceOf(addr2.address); expect(addr2Balance).to.equal(ethers.utils.parseEther("50")); }); }); });Also, Read | How to Build a Real-Time Wallet TrackerDeploy the ContractTo deploy the contract, run the following command in your terminal:npx hardhat run scripts/deploy.js --network <network_name>Verify the Deployment:-Once deployed, you should see the contract address in the terminal output. You can verify the deployment on Etherscan (for public networks) or through your local Hardhat node.Overview of the Above Contract:-Deposit Function: The wallet allows users to deposit Ether, with the balance being linked to a particular chain ID.Withdraw Function: Users are able to take their remaining Ether balance for a certain chain out. Execute Function: Using a signature-based verification system, this function enables the owner to carry out transactions on other contracts.Events: For tracking purposes, send out events for deposits, withdrawals, and completed transactions.Explanation of the TestsDeposit Tests: Tests that users can deposit Ether and that their balance is updated accordingly. Checks that the Deposited event is emitted.Withdraw Tests: Ensures that users can withdraw their Ether. Validates that trying to withdraw more than the balance reverts the transaction. Checks that the Withdrawn event is emitted.Execute Tests: Validates that the owner can successfully execute a transaction. Tests that an invalid signature reverts the transaction.Interactions Across Chains: Cross-chain interactions are not specifically handled by this contract. You could utilise bridging mechanisms like Wormhole or LayerZero, oracles, to establish communication between various chains in order to do this.Security: Whenever you work with different chains, make sure to audit your contracts and take into account possible attack routes.Gas Efficiency: When building your functions, especially for cross-chain calls, keep gas expenses in mind.Also, Check | Create an Externally Owned Wallet using Web3J and Spring BootTesting and Deployment:-You can utilise test networks for the individual chains you wish to support together with frameworks like Hardhat or Truffle to deploy and test this contract.Boost Functionality: Include extra features such as role-based access control, support for ERC20 tokens, and recovery methods.Cross-Chain Communication: To move assets between chains, investigate and put into practice cross-chain protocols.User Interface: Using Web3.js or Ethers.js frameworks, create a front-end interface for interacting with the wallet. This ought to provide you with a basic idea of how to construct a Solidity wallet that abstracts multiple chains of accounts. Be sure to modify and enlarge the code in accordance with the specifications of your project!Monetary Benefits of Investing in Account Abstraction Wallet:-Cost is a significant component of Account Abstraction wallet development. It is impacted by numerous factors that bring these apps to life. Let us spotlight these factors in detail:Development Team SizeThe expertise and experience of the development team affect the wallet cost. Hire a skilled team with Blockchain background and consider the cost of developers, designers, blockchain experts and security professionals.Features and ComplexityThe features integrated within the application have a direct influence on the cost. The charges of basic wallets are less, while the advanced ones escalate the cost.Security MeasuresThe significance of powerful security mechanisms can't be understated. The higher the security, the higher the development charges. Make sure that the advanced security mechanisms are integrated, which is a significant investment but gives you peace of mind.Legal and Compliance CostsAddressing complaint measures involves legal consultations and ensuring that the application adheres to local and global regulations. These costs are included in the overall budget.Also, Discover | How to Sign Ledger using Solana Wallet AdapterAccount Abstraction Wallets DrawbacksComplexity: Compared to standard wallets, the architecture may be more intricate, which might increase the likelihood of errors or implementation flaws.Experience of the User: Those who are only familiar with conventional wallets may find it difficult to grasp new ideas like transaction signature off-chain.Difficulties with Onboarding: It might be difficult for novice users to set up and use these wallets efficiently.Smart Contract Weaknesses: The usage of smart contracts exposes users to more risks, including those related to reentrancy attacks, vulnerabilities, and exploits that might result in financial loss.Signature Management: Insecure implementation of off-chain signing techniques may result in compromised private keys.Reliance on Oracles and Bridges: Multi-chain functionality often depends on external oracles and bridging services, which can introduce additional points of failure.Potential Latency: Cross-chain transactions might be slower due to the need for confirmations and interactions with multiple networks.KYC/AML Concerns: Implementing features like KYC for account abstraction wallets could complicate user privacy and lead to regulatory scrutiny.Compliance Complexity: Ensuring compliance across multiple jurisdictions can be challenging and resource-intensive.Interoperability Challenges: Different chains may have varying standards and functionalities, complicating interoperability and the overall user experience.Limited Support: Not all decentralized applications (dApps) may support account abstraction wallets, limiting their usability.If you are looking for assistance to build your blockchain-based project, connect with our skilled blockchain developers to get started.

Technology: SMART CONTRACT , REDIS more Category: Blockchain

Kapil Dagar

01 Oct 2024

ERC 4337 : Account Abstraction for Ethereum Smart Contract Wallets Understanding Account Abstraction on Ethereum for Smart Contract WalletsA novel concept in blockchain, account abstraction aims to improve and harmonize user account functionality in decentralized systems. Contract wallets, also known as smart contract accounts, can replace traditional externally held accounts thanks to account abstraction and smart contract development. A contract wallet can be controlled by a single key, multiple keys, or even a complex system encoded into the contract itself. This opens up numerous possibilities and benefits for Ethereum and other blockchain networks. Account abstraction allows for more flexible and secure management of contract wallets compared to traditional externally held accounts. For more about blockchain, Ethereum, and smart contracts, visit our smart contract development services.In the Ethereum network, two types of accounts currently exist:Externally Owned Accounts (EOAs): controlled by private keys and typically of specific people or organizations.Contract Accounts: smart contracts whose code is run according to predetermined logic.Account abstraction seeks to unify the two types of Ethereum accounts:This implies that smart contracts can now manage and carry out transactions on behalf of users rather than exclusively depending on private keys (as with EOAs), providing users with more flexibility and opening the door to new features like customizable security models, automated and gasless transactions, meta-transactions, and improved privacy. These developments streamline user interactions and increase the Ethereum ecosystem's potential.Also, Read | How to Create an NFT Rental Marketplace using ERC 4907Why do we need Account Abstraction ?The current configuration of the Ethereum network has several drawbacks:Security Risks: Due to their binary structure, private keys can be lost or stolen, which can result in an irreversible loss of money.User Experience: For new users who could find wallet security and gas principles confusing, EOAs demand private keys and gas costs in Ether, which causes friction.Hazards to Security: Due to their binary structure, private keys can be lost or stolen, which can result in an irreversible loss of money.Limited Features: Advanced features like multi-signature wallets and daily transaction restrictions cannot be implemented on EOAs due to their lack of programmability.By addressing these problems, account abstraction seeks to enhance the functionality, security, and usability of the network.Also, Read | A Guide to Implementing NFT Royalties on ERC-721 & ERC-1155Approaches to Implement Account Abstraction:Protocol-Level ChangesIt entails modifying the Ethereum protocol to allow native wallets for smart contracts. Consensus is required for this strategy throughout the Ethereum network.Layer 2 SolutionsLayer 2 networks provide the ability to offload transaction processing and implement unique transaction validation procedures.ERC 4337 (Ethereum Request for Comments)It suggests implementing account abstraction just at the application level, eliminating the need for protocol modifications.Also, Read | How to Create and Deploy a Token Bound Account | ERC-6551What is ERC 4337?A new transaction handling mechanism called UserOperation objects is introduced in ERC 4337. By signing UserOperation objects, which bundlers aggregate and transmit to the network, users avoid submitting transactions straight to the Ethereum blockchain. Without relying on the current transaction flow, this method enables smart contract wallets to safely start transactions. Implementation of ERC 4337:A number of essential elements are involved in the Solidity implementation of ERC 4337 (Account Abstraction), which combined allow for flexible and intuitive interactions with smart contracts. These are the primary elements to pay attention to:1. UserOperation StructPurpose: Represents a single user operation with all necessary information.Key Fields:sender: The address of the user or wallet executing the operation.nonce: To prevent replay attacks and track the order of operations.callData: The encoded data for the function call.gasLimit: The maximum amount of gas that can be used for the operation.maxFeePerGas & maxPriorityFeePerGas: Control over gas fees.You may also like | How to Create an ERC 721C Contract// SPDX-License-Identifier: MIT pragma solidity ^0.8.0; contract UserOperationExample { struct UserOperation { address sender; // Address of the user sending the operation uint256 nonce; // Unique nonce to prevent replay attacks bytes callData; // Encoded data for the function call uint256 gasLimit; // Maximum gas limit for the operation uint256 maxFeePerGas; // Maximum fee per gas unit the user is willing to pay uint256 maxPriorityFeePerGas; // Max priority fee per gas } // Example function to demonstrate the use of UserOperation function exampleFunction(UserOperation calldata userOp) external { // Validate the user operation (you would typically check nonce, gas limits, etc.) require(userOp.sender != address(0), "Invalid sender"); require(userOp.gasLimit > 0, "Gas limit must be greater than zero"); // Here you would implement the logic to execute the operation (bool success, ) = userOp.sender.call{gas: userOp.gasLimit}(userOp.callData); require(success, "Operation failed"); // You could also emit an event here for tracking purposes } }Also, Discover | How to Create and Deploy an ERC404 token contract2. EntryPoint ContractPurpose: Central contract that receives user operations and executes them.Key Functions:executeUserOperation: Validates and executes the user operation, checking the sender's nonce, ensuring gas limits, and processing the call data.Security Checks: Implement checks to prevent issues like underflow/overflow, invalid addresses, and ensure gas payment.// SPDX-License-Identifier: MIT pragma solidity ^0.8.0; contract EntryPoint { event UserOperationExecuted(address indexed sender, bytes callData); event UserOperationFailed(address indexed sender, bytes callData, string reason); // This mapping tracks the nonce for each user to prevent replay attacks mapping(address => uint256) public nonces; function executeUserOperation(UserOperation calldata userOp) external { // Validate the user operation require(userOp.sender != address(0), "Invalid sender"); require(userOp.nonce == nonces[userOp.sender], "Invalid nonce"); require(userOp.gasLimit > 0, "Gas limit must be greater than zero"); // Update the nonce nonces[userOp.sender]++; // Execute the operation (bool success, bytes memory returnData) = userOp.sender.call{gas: userOp.gasLimit}(userOp.callData); if (success) { emit UserOperationExecuted(userOp.sender, userOp.callData); } else { emit UserOperationFailed(userOp.sender, userOp.callData, _getRevertMsg(returnData)); } } // Helper function to extract revert reason function _getRevertMsg(bytes memory returnData) internal pure returns (string memory) { if (returnData.length < 68) return "Transaction reverted silently"; assembly { returnData := add(returnData, 0x04) } return abi.decode(returnData, (string)); } }Also, Discover | ERC 3643 A Protocol for Real World Asset Tokenization3. User Wallet ContractPurpose: Acts as the user's wallet to create and submit user operations.Key Functions:submitUserOperation: Collects user operation parameters and sends them to the Entry Point.Nonce Management: Increments the nonce after a successful operation to prevent replay attacks. // SPDX-License-Identifier: MIT pragma solidity ^0.8.0; import "./EntryPoint.sol"; // Import the EntryPoint contract contract UserWallet { address public entryPoint; // Address of the EntryPoint contract uint256 public nonce; // Nonce for tracking user operations constructor(address _entryPoint) { entryPoint = _entryPoint; // Set the EntryPoint contract address } // Function to submit a user operation function submitUserOperation( bytes calldata callData, uint256 gasLimit, uint256 maxFeePerGas, uint256 maxPriorityFeePerGas ) external { // Create the UserOperation struct UserOperation memory userOp = UserOperation({ sender: address(this), nonce: nonce, callData: callData, gasLimit: gasLimit, maxFeePerGas: maxFeePerGas, maxPriorityFeePerGas: maxPriorityFeePerGas }); // Submit the user operation to the Entry Point EntryPoint(entryPoint).executeUserOperation(userOp); // Increment the nonce for the next operation nonce++; } // Example function to demonstrate a callable function from the wallet function exampleFunction(uint256 value) external { // Implementation of the function logic } }Also, Check | A Guide to Gasless ERC20 Token Transfer4. Gas Payment MechanismPurpose: Determines how the gas for executing user operations is paid.Considerations:You might want to allow users to pay gas fees in tokens or implement a mechanism for sponsor payments (where another entity pays the gas). // SPDX-License-Identifier: MIT pragma solidity ^0.8.0; import "@openzeppelin/contracts/token/ERC20/IERC20.sol"; contract EntryPoint { event UserOperationExecuted(address indexed sender, bytes callData); event UserOperationFailed(address indexed sender, bytes callData, string reason); mapping(address => uint256) public nonces; // Function to execute user operation with gas payment function executeUserOperation( UserOperation calldata userOp, address paymentToken, uint256 paymentAmount ) external payable { require(userOp.sender != address(0), "Invalid sender"); require(userOp.nonce == nonces[userOp.sender], "Invalid nonce"); require(userOp.gasLimit > 0, "Gas limit must be greater than zero"); // Validate gas payment if (paymentToken == address(0)) { // Pay with Ether require(msg.value >= paymentAmount, "Insufficient Ether sent"); } else { // Pay with ERC-20 token require(IERC20(paymentToken).transferFrom(msg.sender, address(this), paymentAmount), "Token transfer failed"); } nonces[userOp.sender]++; (bool success, bytes memory returnData) = userOp.sender.call{gas: userOp.gasLimit}(userOp.callData); if (success) { emit UserOperationExecuted(userOp.sender, userOp.callData); } else { emit UserOperationFailed(userOp.sender, userOp.callData, _getRevertMsg(returnData)); } } function _getRevertMsg(bytes memory returnData) internal pure returns (string memory) { if (returnData.length < 68) return "Transaction reverted silently"; assembly { returnData := add(returnData, 0x04) } return abi.decode(returnData, (string)); } }5. Account Abstraction WalletPurpose:To manage user actions, an Entry Point contract communicates with the Abstracted Account Wallet, which functions as a user-defined wallet. By offering a means of verifying and carrying out these procedures, it guarantees that activities may only be carried out by authorized users. // SPDX-License-Identifier: UNLICENSED pragma solidity ^0.8.9; import "./library/UserOperation.sol"; import "@openzeppelin/contracts/utils/cryptography/ECDSA.sol"; contract AbstractedAccountWallet { using ECDSA for bytes32; uint256 public constant SIG_VALIDATION_FAILED = 1; uint256 public constant NONCE_VALIDATION_FAILED = 2; uint256 public constant VALIDATION_SUCCESS = 0; address public owner; uint256 public nonce; address public entryPoint; // Events for logging important actions event ExecutedOperation(address indexed sender, uint256 value, bytes data); constructor(address _entryPoint) { owner = msg.sender; nonce = 0; entryPoint = _entryPoint; } // Modifier to check if the caller is the owner of the contract modifier onlyOwner() { require(msg.sender == owner, "You are not the owner"); _; } modifier onlyEntryPoint() { require( msg.sender == entryPoint, "Only EntryPoint can call this function" ); _; } // Function to validate a user-defined operation function validateOp( UserOperation calldata op, uint256 requiredPayment ) public returns (uint256) { // Send requiredPayment to EntryPoint if (requiredPayment != 0) { payable(entryPoint).transfer(requiredPayment); } // Check nonce require(op.nonce == nonce++, "Invalid nonce"); // Check signature if ( owner != getHash(op).toEthSignedMessageHash().recover( // op.signature[32:] op.signature ) ) { return SIG_VALIDATION_FAILED; } else { // return uint256(bytes32(op.signature[0:32])); return VALIDATION_SUCCESS; } } function getHash( UserOperation memory userOp ) public view returns (bytes32) { return keccak256( abi.encode( bytes32(block.chainid), userOp.sender, userOp.nonce, keccak256(userOp.initCode), keccak256(userOp.callData), userOp.callGasLimit, userOp.verificationGasLimit, userOp.preVerificationGas, userOp.maxFeePerGas, userOp.maxPriorityFeePerGas, keccak256(userOp.paymasterAndData), entryPoint // uint256(bytes32(userOp.signature[0:32])) ) ); } }You may also like | How to Create an ERC 721 NFT TokenA recent breakthrough: EIP-4337Since the account abstraction effort moved to a different strategy, which was unveiled in EIP-4337 in late 2021, both EIP-2938 and EIP-3074 are presently dormant. Building on the idea of a smart contract wallet is the goal of the new strategy.However, remember that we already mentioned that the lack of proper infrastructure makes smart contract wallets challenging to use? Nevertheless, EIP-4337 seeks to address that without altering the L1 protocol in the process.The proposal introduces a higher-level mempool that operates with a new object called UserOperations. Instead of traditional transactions, users will send UserOperations to this mempool. Validators then select these UserOperations, bundle them into a transaction, and submit them to a specialized smart contract called the EntryPoint contract. This contract manages transaction execution and validator rewards.The method outlined in EIP-4337 simplifies the process for developers to create custom smart contract wallets.Also, Know | Create a Simple Dividend ERC20 tokenConclusion of Account Abstraction Using ERC 4337:Account abstraction and ERC 4337 are two progressive approaches to Ethereum's development. This strategy is well-positioned to promote the wider use of blockchain technology and decentralised apps by giving priority to user experience, flexibility, and security, so making them more accessible and useful for regular users. The ideas and applications resulting from ERC 4337 will probably influence the direction of decentralised finance in the future and beyond as the ecosystem develops. In case you are looking to build your project using emerging ERC standards, connect without our skilled Solidity developers to get started.

Technology: SMART CONTRACT , ETHERJS more Category: Blockchain

Yogesh Sahu

01 Oct 2024

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