Hi, i am laizz , I became aware of Dero because of the possibility to create applications with smart contracts that are censorship resistant and private.
We are working on a communication app and want to generate a token to be distributed to our users.
We are considering whether to make our own ledger or whether to make a token on a smart contract platform on an existing ledger. ETH etc
What is in focus for us are the costs to generate a token and especially the transaction fees to distribute the tokens to our users and so that our users can send the tokens to each other.
Unfortunately I can’t find this most important information to develop applications on Dero. Where can I calculate exactly if it makes sense for us to make our token on Dero?
Third, DERO has inbuilt capability to send 128 bytes of message/payload with every transaction in most secure manner. Only receiver wallet can decrypt/view the message.
Questions that I unfortunately could not answer from the material.
I assume that the tokens are also automatically privacy tokens when they are created with the DVM. How are the transaction fees calculated for token transfers. Do our users have to buy Dero as a kind of gas to be able to transfer the tokens to each others ? Are the transaction fees of the token transfers then paid in Dero, if so how can i calculate the cost of the fees during the distribution process?
Yes. Tokens are private and like native on DERO network. Once issued DERO tokens become independent of issuing Smart Contracts and work like cash after issued from bank.
yes DERO is required to pay fees. You can do trial transfers and calculate fees.
Fees is ~ 0.000121 depending on ringsize & priority etc. explorer.dero.io
Thank you very much for your response, so everybody who wants to transfer the token have to pay a fee in DERO … i mean that everybody needs DERO to be able to move the Token … correct ?
i.e. we have to force our customers to buy Dero, otherwise the tokens are useless.
This makes it difficult for us to develop on Dero. Imagine you have an app and you want to reward your users for using the app with tokens.
I.e. we have to make millions of transactions to distribute the tokens, but for that we need Dero. If it was only for the distribution, it would be acceptable, but if the customers also need Dero to transfer the tokens among each other, then it is useless. Dero is cool, but so is unfortunately not possible for our project. Is there a possibility to pay the TX fees for transactions between token holders with the token itself and not in Dero ??
Tell how/why Network will run if there are no miners/rewards.
If DERO is not used as payment for TX fees, People will launch infinite useless/scam tokens with no value. Now who will pay for storing/maintaining those token’s data in decentralized protocol on hundreds of servers.
You have to pay server’s cost or TX fees to store your data depending on your requirements.
Yes, that is understandable and we have to see how much it would cost. With Smartcontract it is always problematic to calculate, because if the coin rises in the fiat price, which always happens the more the platform is used, then the fees also become more expensive.
we have to calculate that.
Another question is, Dero advertises that the transactions are fully Homomorphic encrypted. This is of course great from a privacy point of view, but you have to keep in mind that homomorphically encrypted operations are about 2 000 000 times slower than unencrypted operations, i.e. if an operation takes 1 second, it takes several days if it is homomorphically encrypted. Are there not performance problems with growing transactions and usage ?
Hello dear Dero Team,
I think your concept with the private smart contracts is great, it’s just a pity that you didn’t clone the EVM and we cant use Solidity, but have to use another language we don’t know.
What effort would it be to make a Solidity smart contract compatible for your DVM ? what effort can we expect ? are there instructions for this ?
what is the best instruction for your DERO VM to write a smart contract - can you send me a link for our DEV that he can check if he can do it ?
thank you
Laizz
I have a question :
what about a wallet ? on EVM compatible platforms you can work with Metamask as a wallet and interact with all smart contracts on the Network.
How would that look with DERO ??
is there something like Metamask which works with the Stargate network. How can users interact with a smart contract on Dero ?
I have been looking for a developer for DERO smart contracts tokens, but unfortunately I haven’t found one who is familiar with the DERO technology.
You said that the Dero team can refer me to a developer who can set up a smart contract and that the DERO virtual machine can do it without any problems. I would like to briefly explain what this smart contract is and why I think this project is also very good for the whole DERO ecosystem. A WIN-WIN
I would like to make a utility token that would allow secret and tamper-proof elections. Something that is more important today than ever. This token should also be able to be used in the commercial sector to transport trends and opinions. Good userexperience and flexible application are in the foreground.
It should be a privacy token, so that nobody will ever know who voted what.
I think this is where DERO can prove its quality and show its strength as a distributed privacy ledger, especially because it is a perfectly tailored utility token for the DERO platform. That’s why I would like to develop the project on the DERO ledger.
I would be happy to have the possibility to chat with someone from the DERO team ( video chat - eg Telegram/Signal ) Is that possible ? I live in the south of Spain
I would appreciate a positive answer from you
greetings
Laizz