2

Assume I had a successful token sale and sold all my tokens, now I have built an awesome dApp for the users using solidity smart contracts. Now my questions in this regard are -

How will my users with ICO tokens pay for dApp transactions fee on Ethereum, should I send them in ether or token ?

How to use tokens in a private chains built on Ethereum ?

How to use tokens to make transactions on another blockchain lets assume Ethermint for example here ?

3

The tokens someone owns is just a balance in your Token smart contract. So,

How will my users with ICO tokens pay for dApp transactions fee on Ethereum, should I send them in ether or token ?

They can't use these tokens to pay for transaction fees -if you are referring to gas costs when executing a transaction-. If you mean using the token as a currency within your applications, then what you need to do is to build your Dapp's smart contract to read data from your Token address and use your users' balance as a requirement to execute your dapp's functions. This will require your user to approve some balance to your dapp contract first.

How to use tokens in a private chains built on Ethereum ?

How to use tokens to make transactions on another blockchain lets assume Ethermint for example here ?

As I mentioned before, these tokens only exist as a balance in a smart contract which is part of the Ethereum network where you deployed it. So, this token does not exist in another network (a testnet or a private network, unless you deployed the token on those) and they can't be accessed from other blockchains as well.

  • Thanks for the answer, regarding my 3rd question EOS has done their token sale on Ethereum, my question is how are they going to use that tokens in the EOS main net ? I mean what is the relationship between tokens in Ethereum for EOS, to shares in EOS? I'm having tough time understanding that economy – siva Dec 7 '17 at 4:20
  • @siva , did you got the answer? I, too, want to understand the same thing. I'm still not able to wrap my head around the concept of using the ICO tokens in the application. Did you got any helpful material or link ? – Vixon Feb 2 '18 at 9:16

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.