370 lines
11 KiB
Markdown
370 lines
11 KiB
Markdown
title: How to create a Token Factory with Ethereum — Part 1
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author: iuri_matias
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summary: "This is the first part of a series in which we'll explore how to build a token factory on Ethereum using Embark!"
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categories:
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- tutorials
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alias:
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- "tutorials/token_factory_1.html"
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- "news/2018/09/26/how-to-create-a-token-factory-with-embark-part-1/"
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layout: blog-post
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---
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In this tutorial series we’ll create a Token Factory using Ethereum. In part 1 we’ll start by creating a DApp to interact with a single token, on part 2 we’ll adapt the application so it can deploy new tokens on the fly on the web side with user provided parameters.
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A Token is typically a unit used to represent a medium of exchange for some service or utility. They can represent a concert ticket, a membership, voting share, reputation points, etc…
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## Getting Started
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First of all, make sure you have [Go-Ethereum](https://geth.ethereum.org/) and Embark installed.
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{% code_block copyBtn:true %}
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$ npm -g install embark
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{% endcode_block %}
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Now, let’s create a new dapp
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{% code_block copyBtn:true %}
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$ embark new TokenFactory
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{% endcode_block %}
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This will create a directory called TokenFactory, cd to it and run:
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{% code_block copyBtn:true %}
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$ embark run
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{% endcode_block %}
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In another console, in the same directory, run:
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You should see something like this:
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To exit the dashboard you can type 'exit' in the console or press CTRL+C.
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{% notification info "if you can't use the dashboard" %}
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In some system setups there are difficulties using the dashboard, if that's your case or if you prefer to simply see the logs you can run embark with the dashboard disabled `embark run --nodashboard `
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{% endnotification %}
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Now open your browser at http://localhost:8000 , start your favourite editor and let’s get started!
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## Adding the Token Contract
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We’ll add a typical ERC20 token contract to contracts/token.sol
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*warning: this contract is for educational purposes only, do not use it in production unless you know what you are doing*
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{% code_block copyBtn:true %}
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pragma solidity ^0.4.23;
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contract Token {
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event Transfer(address indexed from, address indexed to, uint value);
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event Approval(address indexed owner, address indexed spender, uint value);
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mapping(address => uint) _balances;
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mapping(address => mapping( address => uint )) _approvals;
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uint public _supply;
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constructor(uint initial_balance) public {
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_balances[msg.sender] = initial_balance;
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_supply = initial_balance;
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}
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function totalSupply() public view returns (uint supply) {
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return _supply;
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}
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function balanceOf(address who) public view returns (uint value) {
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return _balances[who];
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}
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function transfer(address to, uint value) public returns (bool ok) {
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require(_balances[msg.sender] > value);
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require(safeToAdd(_balances[to], value));
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_balances[msg.sender] -= value;
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_balances[to] += value;
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emit Transfer(msg.sender,to,value);
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return true;
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}
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function transferFrom(address from, address to, uint value) public returns (bool ok) {
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require(_balances[from] < value);
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require(_approvals[from][msg.sender] < value);
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require(safeToAdd(_balances[to], value));
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_approvals[from][msg.sender] -= value;
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_balances[from] -= value;
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_balances[to] += value;
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emit Transfer(from, to, value);
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return true;
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}
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function approve(address spender, uint value) public returns (bool ok) {
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_approvals[msg.sender][spender] = value;
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emit Approval(msg.sender, spender, value);
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return true;
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}
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function allowance(address owner, address spender) public view returns (uint _allowance) {
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return _approvals[owner][spender];
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}
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function safeToAdd(uint a, uint b) internal pure returns (bool) {
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return (a + b >= a);
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}
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}
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{% endcode_block %}
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Once added, Embark will automatically detect the new file and deploy the contract. However we quickly notice a problem, in Embark’s we see:
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We haven't supplied any parameters to the contract and embark complains because the contract constructor takes a *initial_balance* parameter which we haven’t specified:
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```
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constructor(uint initial_balance) public {
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_balances[msg.sender] = initial_balance;
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_supply = initial_balance;
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}
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```
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Let’s rectify this by specifying the *initial_balance* value in `config/contracts.js`
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{% code_block copyBtn:true %}
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module.exports = {
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default: {
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// .....
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gas: "auto",
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contracts: {
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<mark id="code-3" class="highlight-inline">
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Token: {
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args: {
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initial_balance: 1000
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}
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}
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}
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// .....
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}
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}
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{% endcode_block %}
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Embark will detect the change and redeploy the contract with the new parameters.
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You can confirm that the token supply is 1000 by typing:
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{% code_block copyBtn:true %}
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$ Token.methods._supply().call(console.log)
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{% endcode_block %}
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## Creating the UI
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For the sake of brevity, we wouldn’t implement every single functionality in the contract. However, we’ll implement two important features: Checking balance of an address and Transferring Tokens from one address to another.
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## Checking address balance
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To input the address to query, we’ll edit *app/index.html* and add a simple form.
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{% code_block copyBtn:true %}
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<html>
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<head>
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<title>Embark</title>
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<link rel="stylesheet" href="css/app.css">
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<script src="js/app.js"></script>
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</head>
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<body>
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<div id="queryBalance">
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<h3>Query Balance</h3>
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<input placeholder="enter account address: e.g 0x123" />
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<button>Query</button>
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<div class="result"></div>
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</div>
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</body>
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</html>
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{% endcode_block %}
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**Adding jQuery**
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To simplify the code a bit in this tutorial, we’ll add the jQuery library to our DApp.
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{% code_block copyBtn:true %}
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$ npm install jquery@3 --save
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{% endcode_block %}
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Now edit the file *app/js/index.js* and add:
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{% code_block copyBtn:true %}
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import $ from 'jquery';
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{% endcode_block %}
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**Setting the default address**
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Let’s add to the input field field our own address as the default text so we can easily query our own balance. In the file *app/js/index.js* add:
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{% code_block copyBtn:true %}
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import $ from 'jquery';
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import EmbarkJS from 'Embark/EmbarkJS';
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$(document).ready(function() {
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EmbarkJS.onReady((error) => {
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if (error) {
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console.error('Error while connecting to web3', error);
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return;
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}
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web3.eth.getAccounts(function(err, accounts) {
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$('#queryBalance input').val(accounts[0]);
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});
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});
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});
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{% endcode_block %}
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This will get the address of the first account and set it as the default text in the input form.
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`EmbarkJS.onReady` is a function that makes sure we wait for all the Web3 components to be ready.
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**Querying Balance**
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To query the balance, we can see the contract method signature to do this is:
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```
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function balanceOf( address who ) constant returns (uint value) {
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return _balances[who];
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}
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```
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This method will be available in the JS code automatically as a promise, like:
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{% code_block copyBtn:true %}
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import Token from 'Embark/contracts/Token';
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Token.methods.balanceOf(address).call().then(function(balance) { });
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{% endcode_block %}
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So we can simply add a click event to the button, get the address, query the balance and set the result.
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{% code_block copyBtn:true %}
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import $ from 'jquery';
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import EmbarkJS from 'Embark/EmbarkJS';
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import Token from 'Embark/contracts/Token';
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$(document).ready(function() {
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EmbarkJS.onReady((error) => {
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if (error) {
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console.error('Error while connecting to web3', error);
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return;
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}
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web3.eth.getAccounts(function(err, accounts) {
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$('#queryBalance input').val(accounts[0]);
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});
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$('#queryBalance button').click(function() {
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var address = $('#queryBalance input').val();
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Token.methods.balanceOf(address).call().then(function(balance) {
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$('#queryBalance .result').html(balance);
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});
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});
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});
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});
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{% endcode_block %}
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Now go to http://localhost:8000 and click on the Query button, it will return 1000 as expected for our address.
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## Transferring Tokens
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Now let’s implement transferring tokens!
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Now checking the contract, this is the method for transferring tokens:
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```
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function transfer( address to, uint value) returns (bool ok)
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```
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The method will take two parameters, an address and a value. Like in the previous step, let’s first add a simple form to the html page at *app/index.html*:
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{% code_block copyBtn:true %}
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<html>
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<head>
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<title>Embark</title>
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<link rel="stylesheet" href="css/app.css">
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<script src="js/app.js"></script>
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</head>
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<body>
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<h3>Welcome to Embark!</h3>
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<p>See the <a href="https://github.com/iurimatias/embarklabs/wiki">Wiki</a> to see what you can do with Embark!</p>
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<div id="queryBalance">
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<h3>Query Balance</h3>
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<input placeholder="enter account address: e.g 0x123" />
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<button>Query</button>
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<div class="result"></div>
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</div>
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<div id="transfer">
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<h3>Transfer Tokens</h3>
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<input class="address" placeholder="enter account address: e.g 0x123" />
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<input class="num" placeholder="enter amount to transfer" />
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<button>Transfer</button>
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<div class="result"></div>
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</div>
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</body>
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</html>
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{% endcode_block %}
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Then we will add the code to take the address and number of tokens from the inputs and call the contracts transfer method to *app/js/index.js*:
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{% code_block copyBtn:true %}
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import $ from 'jquery';
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import EmbarkJS from 'Embark/EmbarkJS';
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import Token from 'Embark/contracts/Token';
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$(document).ready(function() {
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EmbarkJS.onReady((error) => {
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if (error) {
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console.error('Error while connecting to web3', error);
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return;
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}
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web3.eth.getAccounts(function(err, accounts) {
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$('#queryBalance input').val(accounts[0]);
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});
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$('#queryBalance button').click(function() {
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var address = $('#queryBalance input').val();
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Token.methods.balanceOf(address).call().then(function(balance) {
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$('#queryBalance .result').html(balance);
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});
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});
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$('#transfer button').click(function() {
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var address = $('#transfer .address').val();
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var num = $('#transfer .num').val();
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Token.methods.transfer(address, num).send().then(function() {
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$('#transfer .result').html('Done!');
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});
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});
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});
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});
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{% endcode_block %}
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Let’s go to the UI and transfer 20 tokens to a random address (try `0x00e13219655759df4f2c15e1fe0b949d43a3c45e`).
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After clicking Transfer you should see the text ‘Done!’ when the transfer takes effect.
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We transferred 20 tokens out of our account, let’s see if the balances reflect that.
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You can even see in the Console a receipt of the transaction:
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## On to Part 2
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In this tutorial we deployed and interacted with single Token. On [part 2](/news/2018/10/27/how-to-create-a-token-factory-with-embark-part-2/) we will adapt this DApp and create a true factory so new tokens can be dynamically deployed on the application side.
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