Ethereum has been present in the blockchain space since its introduction in 2015. The implementation of smart contracts has played a significant role in Ethereum’s success.
Many people think that smart contracts are a novel idea that was first introduced by the Ethereum Blockchain Platform. However, smart contracts date back to 1996, when computer scientist Nick Szabo coined the term. This article delves deeper into how to create a smart contract.
Step 1: Create a wallet at meta-mask
Install and enable MetaMask in your Chrome browser. Once installed, click on the icon in the upper right corner of the browser page. It will open in a new browser tab when you click on it.
To proceed, click “Create Wallet” and agree to the terms and conditions by clicking “I agree.” It will prompt you to enter a password.
A secret backup phrase will be sent to you after you create a password that will be used to back up and restore your account. Do not reveal or share it with anyone, as this phrase can deprive you of Ethers.
This phrase should be securely written on a piece of paper or stored safely on an external encrypted hard drive where no one can find it.
The following step ensures you are connected to the “Main Ethereum Network.” You’re right if you see a checkmark next to “Main Ethereum Network.”
Step 2: Select any one test network
In your MetaMask wallet, you may also find the following test networks:
- Robsten Test Network
- Kovan Test Network
- Rinkeby Test Network
- Goerli Test Network
The above networks are only for testing purposes; the ethers on these networks have no real value.
Step 3: Add some dummy Ethers to your wallet
You need to have some fake ethers in your MetaMask wallet in order to test the smart contract.
For example, if you want to test a contract on the Robsten test network, select it, and your account will be credited with 0 ETH.
To add dummy ethers, go to Test Faucet and click the “Deposit” and “Get Ether” buttons.
To proceed, click the “request one ether from the faucet” button, and 1 ETH will be added to your wallet. The test network can receive as many Ethers as you like.
After adding dummy ethers to the wallet, you can begin writing smart contracts in the Solidity programming language on the Remix Browser IDE.
Step 4: Use editor remix to write the smart contract
To write our Solidity code, we will use the Remix Browser IDE. The remix is the best option for creating smart contracts because it includes several features and provides a comprehensive development experience.
It is typically used to write more minor contracts. Remix has the following features:
- Warnings like gas cost, unsafe code, checks for overlapping variable names, whether functions can be constant or not
- Syntax and error highlighting
- Functions with injected Web3 objects
- Static analysis
- Integrated debugger
- Integrated testing and deployment environment
- Deploy directly to Mist or MetaMask
Step 5: Create a .sol extension file
To create a.sol extension file, open Remix Browser and click the plus icon on the top left side, next to the browser.
Step 6: A sample smart contract code to create ERC20 tokens
ERC20.sol is a standard ERC20 token template. Choose a Remix compiler version to compile the solidity Ethereum smart contract code.
Step 7: Deploy your contract
Deploy the smart contract to the Ethereum test network by clicking the deploy button on the right side of the Remix window. Wait until the transaction is finished.
After the transaction successfully commits, the smart contract’s address will be visible on the right-hand side of the remix window.
Initially, all ERC20 tokens will be stored in the user’s wallet deploying the smart contract.
To view the tokens in your wallet, open the metamask window, click add tokens, enter the smart contract address, and click OK. The number of tokens would be visible there.
Smart contracts are the business logic or protocol that governs all transactions on a Blockchain. The general goal of how to create a smart contract is to satisfy common contractual conditions, such as creating its token on Ethereum. We need to develop smart contracts that handle all of our token calculations. Contact us if you want to deploy smart contracts for your business operations.
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