I am new to the Ethereum network. I want to develop a wallet (on JavaScript and Node.js) for USDT based on the ERC20 token on the Ethereum network.
Can it be built on JavaScript and Node.js?
Also USDT is a tether-based cryptocurrency whose value is about equal to US$1. So for example, USDT on the ERC20 network works on Ether addresses. So if I send 1 ETH to that address then will it be automatically converted to current ETH value to USDT? (i.e, approximately 273$)?
I am learning Ether on Ether's documentation, so do I need anything else to learn and create a USDT and ETH wallet?
Yes, it can be built using JavaScript and Node.js.
And if you send 1 ETH (US$273) to some other address, you will receive 1 ETH, not 273 USDT. The value is not converted automatically. You'll have to exchange your 1 ETH against 273 USDT.
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I am using a ETH full node server (geth) with RPC Server to operate some operations in server side (Generate wallet, send transaction).
I would like to generate USDT wallet for my users but I coud not find any good documentation on this.
Do you know how to create a USDT wallet from ETH NODE RPC ?
There is no such concept as "USDT wallet" - you have made up that yourself.
Any Ethereum address can receive any token.
I am learning node JS developing a crypto currency exchanger as a homework project where user can deposit ERC-20 token and Ethereum. I am generating unique ethereum deposit address for every user, where they can deposit ERC-20 token and ethereum. but after sometime I want to move the received ethereum and ERC-20 token to another address (cold wallet).
If someone only send ERC-20 token to the address and no etherum, then how I'll get ethereum to pay as gas fee to transfer the received ERC-20 token to cold wallet?
If suppose, I am first paying etherum (for gas fee) from cold address to the user address, and then using that etherum to transfer received ERC-20 token, will it work at mass level ? means if 10000 users do the same thing at the same time, will not it create a problem ? or is there any better solution for this?
If there's no eth in that account, you can't take the ERC-20 token out.
Transfer some eth to the address and then get ERC-20 token out is the only way. The problem is how to save the gas as far as you can.
You can write a batch transfer contract to send eth to several hundred addresses in one go (the ceiling is determined by block gas limit), batch transfer saves gas. Then you can collect the ERC-20 tokens.
Of course, you can charge your user for compensation.
Everyone can create ethereum token by solidity codes but don't know how can this token integrate as payment gateway in ecommerce website.
For real project . This token need frontend web wallet /android wallet and integration to every website as payment.
Plz suggest me .how can find this way.
What need more to study.
Token is not a payment gateway. If i understand your question correctly, you are asking, how can you interact with a token that you have created through Solidity from frontend. One use case would be how people can use the token that you have created to purchase some item. For this the users should already be holding the tokens. This can be bought from an ICO or from an exchange. Basically there's a couple of functions in ERC20 token i.e., approve() and transfer() that will approve apps like exchanges to perform transactions on behalf of the owner of the token. Once the users have those tokens they can purchase items from it. Again, you have to write the logic how and what you expect users to do.
ERC20 Token is works likes Currency.And solidity is a programming language. which we used for write the smart contract. if you want to invoke your function then you need to create wallet account ,after that you can do transaction using with web3js. you can get ether for testing purpose from faucet.Basically these are functions in ERC20 token i.e., approve() and transfer() that will perform transactions
I don't suggest using ERC20 tokens as payment method.
Ethereum network is not fast enough,you need 30 confirmations to make sure you received the token, some times the delay can be 1 day
Cost is high, when you transfer token ,usually you have a smart contract, it costs lots of gas
Ether price is not stable, it drops 90% of value from Jan 2018 to Dec 2018. it will be hard for estore to maintain profit.
However if you still want to do that, yes, you can create your own gateway using tokens as your accepted currency.
Users can deposit on Binance, for example, various ERC20 tokens, but later then those tokens should be transferred to the Binance cold wallet(wallet used for withdrawing) how those tokens are transferred when the newly generated address doesn't contain any ether(for transferring contracts), it doesn't make any sense for me that Binance sends some ether for every newly generated address.
it doesn't make any sense for me that Binance sends some ether for every newly generated address.
That's exactly what they do. If you do happen to deposit ether, they will leave a little bit ~$5 or so in the address when moving the ether to their cold wallet to pay for future token transactions. If you transfer only tokens, they will transfer some ETH before moving it.
As the title suggests - is it possible to send tokens from an ERC20 smart contract address, or is this unit not accessible?
Practical explanation:
A noob misunderstands some instructions and sends some tokens instead to his address to a smart contract address erc20. Is it possible for the programmers of the tokens, to recover those tokens, or are their hands "tied" and none has access to those tokens anymore?
Both contract accounts and external accounts (controlled by humans) have all the same inherent powers. Each can do what the other can.
If you send some ERC-20 token to a contract, it can in theory send it elsewhere, providing it has that functionality already built into-it.