Pardon me I'm new in this.

I'm trying to launch my ERC20 token. So What are the hardware and software requirements for an ideal transfers handling server system?

  • I may be misunderstanding the question, but ERC20 tokens do not have a "transfers handling server system" because they exist on the blockchain and not on a centralized proprietary server. All transfers occur by creating transactions on the blockchain. – daltonclaybrook Feb 23 '18 at 15:53
  • @daltonclaybrook Yes right, but what possible precautions do I need to consider to keep everything fail-safe?? – PrashantNagawade Feb 26 '18 at 6:43

If this is all done on the public Ethereum blockchain, then you don't need to worry about a server. People can transfer your ERC20 tokens without you running anything at all (after you deploy the contract, at least).

  • Yes that's right.. But If I'm launching an ICO, what could be the possible requirements or the precautions that I need to consider to make everything fail-safe?? Thanks! – PrashantNagawade Feb 26 '18 at 6:41
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    @prashantNagawade I think your question is invalid because you're starting from an assumption that is wrong. You should not be using a server (or MyEtherWallet) for your ICO. Your ICO sale is just a separate contract from your ERC20 token contract, which holds a balance of your token, and issues them automatically when it receives ETH to the payable function. I suggest doing some more reading on how ICOs typically work on Ethereum in a decentralized way. – daltonclaybrook Feb 26 '18 at 17:38
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    The requirements and precautions are just to have the token/crowdsale contracts be well audited. Also, you don't use MyEtherWallet to send/receive eth from the ICO. The smart contract does it on chain. You'll have to use another wallet to collect the proceeds from the ICO, which could be MyEtherWallet (but should be a hardware wallet to be safe). – flygoing Feb 26 '18 at 18:10
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    There are multiple smart contract auditing companies available on Google. I can offer my auditing services as well. Note: Smart contract audits aren't cheap. – flygoing Feb 26 '18 at 18:32
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    @PrashantNagawade Glad to help. I just added you on LinkedIn if you want to discuss further. – flygoing Feb 26 '18 at 19:06

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