I did it like this:
Initialise geth in dev mode with the -- flag
geth --dev --allow-insecure-unlock
Never do this in mainnet mode.
Attach a web3 js console
Run this to create 10 unlocked accounts and fund them from the default account:
a = personal.newAccount('pwd')
If you face any issue while connecting with the network(let say ganache) you can try the following steps:
make sure ganache is up and running(ideally on port 8545)
from remix change the environment to Web3 Provider and confirm the address from the popup window.
in case you want to connect through the metamask, change remix environment to Injected web3. Make ...
For web v0.20 creating a reference to an existing instance should be done in two steps
// Create contract object
var MyContract = web3.eth.contract(abiArray);
// Reference instance
var contractInstance = MyContract.at(address);
I believe that you're actually on web3 v1.x, in which case, you should indeed be using new web3.eth.Contract, but with a capital C.
In order to verify which version of web3 you're on, run npm ls web3 from a command line or console.log(web3.version) from your JS code.
The term "confirmation time" is a rather vague. If by that you mean the time it takes to form a block (to find a solution to the mining puzzle) then it can be calculated based on the current network difficulty (how hard it is to find the solution) and current total hashrate (how many solutions per second the network is able to try).
If you want to have ...
rinkeby is a public test network. If you type geth help, you'll see a number of public networks you can connect to, such as rinkeby, ropsten, goerli public test networks. If you don't specify a network, geth will connect to the public main net. You can check the Private Network Tutorial to see how to set up and connect to a private network.
3 things to try:
Avoid using unstable versions, switch to the last stable Elasa (v1.9.6)
You may have to increase the gas a bit when deploying contracts, because of new versions of solidity where gas calculation changes
Using a gas price oracle is sometimes needed
As @fixanoid stated in his answer you can change the gas limit in the genesis.json.
But this isn't an optimal solution in my opinion. You are better off using a specific flag for your miner.
Geth has the --targetgaslimit flag that will cause your miner(s) to move step by step towards a given gas limit. Only a certain increase is allowed per block. ...
You can fix it this way:
One way to do this is to set very high limit for gas in the genesis config file like so: "gasLimit": "0xE0000000". Alternatively, run a client optimized for private nets: https://github.com/jpmorganchase/quorum. Default gas limit is in billions.
I doubt any exchange accepts private blockchain's coins and/or tokens. In the end it's of course up to the exhchange, but there are at least the following problems:
1) As you control the blockchain you can just take it down when you want to. What should happen to people who have bought your coin/token outside the blockchain?
2) You are able to manipulate ...