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Hands-On Blockchain for Python Developers

You're reading from   Hands-On Blockchain for Python Developers Gain blockchain programming skills to build decentralized applications using Python

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Product type Paperback
Published in Feb 2019
Publisher Packt
ISBN-13 9781788627856
Length 450 pages
Edition 1st Edition
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Author (1):
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Arjuna Sky Kok Arjuna Sky Kok
Author Profile Icon Arjuna Sky Kok
Arjuna Sky Kok
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Table of Contents (19) Chapters Close

Preface 1. Section 1: Blockchain and Smart Contracts FREE CHAPTER
2. Introduction to Blockchain Programming 3. Smart Contract Fundamentals 4. Implementing Smart Contracts Using Vyper 5. Section 2: Web3 and Populus
6. Interacting with Smart Contracts Using Web3 7. Populus Development Framework 8. Building a Practical Decentralized Application 9. Section 3: Frontend Decentralized Applications
10. Frontend Decentralized Application 11. Section 4: Cryptocurrency and Wallets
12. Creating Token in Ethereum 13. Cryptocurrency Wallet 14. Section 5: Decentralized Filesystem
15. InterPlanetary - A Brave New File System 16. Using ipfsapi to Interact with IPFS 17. Implementing a Decentralized Application Using IPFS 18. Other Books You May Enjoy

Selling a token

Now that we have a token, it's time to sell the coins. We want to sell our custom token for ethers. A crowdsourcing token is very easy do create on the Ethereum platform compared to the Bitcoin platform. You already know how to create a method in a smart contract to accept ethers. You also know how to increase the token balance of some accounts. To sell tokens, you must combine those two things. That's all.

This is the core of the Initial Coin Offering (ICO). The currency of Ethereum is valuable. Although the price of ether fluctuates, 1 ether is valued at around USD 100. People would pay real money for some ethers, but not our custom token. To make our custom token worthy, we have to make it useful first, or at least make it appear useful. But to do that, we need capital. So why not sell some of our tokens (say 60%) to early adopters? They can then...

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