I have programmed a CryptoCoin in Ethereum with Solidity, a contract based thing and I would like to know how I can make it sellable.
I have this company who wants a crypto currency and they want to be able to buy it with paypal. The problem is, I don't know how I can make my coin available to be bought via Paypal.
I would like to know how I can make this CryptoCoin that I created to go tradable, because they want it that way.
Is there any way of doing this?
Does this have anything to do with the Hash of the Coin or something?
I am using MetaMask as a wallet to control the coin transactions.
Yeah this is doable, well kind of. Here are the potential avenues to look down.
1.) The 'blockchain friendly way' of solving this problem is to use a technology like interledger: https://interledger.org/, essentially their service is providing a decentralized way of performing cross chain transactions. The idea would be to use interledger to convert paypal payments into ether which can be used to buy your cryptocoin. The drawbacks are: a.) Im not sure if they have developed a paypal plugin (they probably have though and you can check this) and b.) their ethereum plugin is pretty experimental and you would have to have a pretty solid grasp of how ethereum and their tech works.
2.) The 'non blockchain friendly way'. By this I just mean a non decentralized means of doing what you want. create a server that uses the paypal api to listen for when transactions have taken place and then buys eth somehow (no doubt there is an exchange with an api for this purpose) and trades it into your cryptocoin. The drawbacks here are that having such a server that makes payments could be a single point of failure and opens you up to security risks.
Whatever you do, it will be far more complicated than creating the coin itself which is relatively trivial so make sure you have a solid understanding of ethereum and related technologies first if you don't already.
Related
We are building a Solana based application which will mint Semi-Fungible tokens (for Fungible Assets) let people trade them.
What we want next is to add metadata to this mint through which we are also going to set the creators and the seller fee basis points for royalty payments. We know how to do this and we have done it.
Anyway, the problem is the following: all the docs available on Metaplex we’ve seen are revolving around NFTs, Master Editions, Printing Editions, Auctions, etc. - which is not the case for us as we need to mint more than one token from the same mint.
The most important thing is to manage to benefit from the royalty fees each time shares are being traded on the secondary market. So we don't need auctions, vaults or other mechanisms like these.
Initially, we were thinking about Serum, but we don’t know whether
Serum also takes care of transferring the royalty fee to the
creators when the funds are settled.
After Serum, we’ve looked at the examples in the Metaplex
documentation about Metaplex Storefronts, but, as I said above, that
was really focusing on NFTs, Master Editions, Printing Editions,
Auctions, etc. - which don’t seem to fit our use case of Fungible
Asset. Maybe can this be customized for our Fungible Assets use case
somehow?
Would you be so kind to help us clear up a little bit what approach is the best for our use case and our needs?
Serum v4 (not released on mainnet yet) does support Metaplex royalties (see this commit). It should be released on mainnet in the coming weeks/month.
I am not aware of any other smart contract on Solana which supports this feature. However, you could probably create your own fork of an open source AMM and add a logic similar to the commit above.
More than a question this is going to be a long story and a call for all those professionals, developers and merchants that are actively using paypal adaptive payments (preapprovals and chained).
I (and my team with me) strongly think that adaptive payments are and have been a great solution.
Since we adopted them in late 2012 we immediately understood the potential and the flexibility of this great set of APIs. The adoption of this APIs in Italy was something like a nightmare in those times. No docs in italian, no support in italian, everything was done in english with one great support person of paypal in Dublin following us in the integration at the phone :) We were pioneers in our country but at the end we finally had our flows done.
Preapprovals + chained payments and the world can be in your hand.
We could do almost anything and this was what we did. A great platform for buying groups that in those last year is expoloding in our country. Today we have dozens of active and happy users (thousands we brought to paypal) and almost one houndred very selected merchants that we've followed step by step with the paypal team in the limit removal nightmare stuff. One, by one.
And here comes the call.
How many are we using them and what will be the future and possible migration solutions?
As almost all of the users of adaptives knows those APIs are well functioning but deprecated since few years. This means that nobody can start new integrations with them but, worst of all, that all those that are actively using them - like us - still don't really know what the future will be. I'm fairly certain that we can't be alone. I'm almost sure that there are other businesses, merchants, developers who have built great ideas relying on those APIs and now that we've given soul and blood for years putting all of our efforts in developing, optimizing, updating and growing our platforms and our communities, we're at a crossroad: to wait and hope or to look for alternatives.
On an app owner view, there's no understandable reason why paypal should shut off those APIs and, infact, till today, fortunately we've heard nothing about a sunsetting of those APIs, however we all know that they have been deprecated and any of us can safely say that there won't be a sunsetting or a forced migration in the future.
So, why don't we start joining our voices to have clear, understandable and certified roadmap and / or plans around this topic?
Talking with the commercial team in Dublin, they say that everything is ok with adaptives and they will continue working for a long time (and this would be great) but, on the other side, talking with the MTS team the view is a little bit different and no so enthusiastic go on mood in the air. Most of all because of the introduction of the PSD2 Directive in Europe.
As many in the European market should have heard, in the last few months another big concern (investing everything in the payments industry) is the PSD2 compliance and maybe just for this directive that the future of adaptives could be involved too.
Adaptives unfortunately are not PSD2 ready and the hope that paypal will put efforts in making them compatible while it is a deprecated solution is very thin.
The strong customer authentication, mandatory in the new rules schema would force the tech team to update all their products but, always on the merchant / app owner / user view, it seems more plausible that paypal will put the more efforts in the new products instead of renewing the old ones.
However, adaptives are both:
a great solution used by a lot of merchants (again, how much we are?!) in the world continuatively draining new users and merchants (for free) to paypal (just for how the adaptives and preapprovals works, in many cases you're forced to open a paypal account and all we app owners have done this for years);
an easily adjustable tool to be PSD2 ready
We're now in a "grace period" for PSD2 and that to make Adaptive payments complying with PSD2 directive wouldn't be so hard: preapprovals are the CORE and if you add a strong customer authentication to the preapproval flow the great part of the job is done. Chained payments made direclty at the presence of the user too, just adding a strong customer authentication should fit the needs and server to server chained payments sould fall in the MIT (merchant initiated payments) that seems to be out of the object of the directive.
Forcing migrations, on the other hand, would result in loosing a lot of customers, merchants, app owners that for some reason can't change the architecture because of the specific business model or because they don't find real concrete solutions in alternative APIs. Fixing it appears to be a better solution.
The call to all the adaptive payments users is to join this conversation and bring your thoughts, just to see if we're alone or if we're a lot with the same issue at the door.
An enthusiastic and happy adaptive heavy user and owner in Italy.
Cheers, Fil
In planning for the future, the best approach would likely be to put together a list of your platform's requirements and expected volume, and contact PayPal regarding: https://developer.paypal.com/docs/commerce-platform/
You can also look at other options
I don't think anyone knows exactly how long Adaptive Payments will remain available as a legacy service for existing integrations, but I would expect it will be long enough for you to set up a new one that users can migrate to
I'm admittedly unsure whether this post falls within the scope of acceptable SO questions. If not, please advise whether I might be able to adjust it to fit or if perhaps there might be a more appropriate site for it.
I'm a WinForms guy, but I've got a new project where I'm going to be making web service calls for a Point of Sale system. I've read about how CRUD operations are handled in RESTful environments where GET/PUT/POST/etc represent their respective CRUD counterpart. However I've just started working on a project where I need to submit my requirements to a developer who'll be developing a web api for me to use but he tells me that this isn't how the big boys do it.
Instead of making web requests to create a transaction followed by requests to add items to the transaction in the object based approach I'm accustomed to, I will instead use a service based approach to just make a 'prepare' checkout call in order to see the subtotal, tax, total, etc. for the transaction with the items I currently have on it. Then when I'm ready to actually process the transaction I'll make a call to 'complete' checkout.
I quoted a couple words above because I'm curious whether these are common terms that everyone uses or just ones that he happened to choose to explain the process to me. And my question is, where might I go to get up to speed on the way the 'big boys' like Google and Amazon design their APIs? I'm not the one implementing the API, but there seems to be a little bit of an impedance mismatch in regard to how I'm trying to communicate what I need and the way the developer is expecting to hear my requirements.
Not sure wrt the specifics of your application though your general understanding seems ik. There are always corner cases that test the born though.
I would heed that you listen to your dev team on how things should be imolemented and just provide the "what's" (requirements). They should be trusted to know best practice and your company's own interpretation and standards (right or wrong). If they don't give you your requirement (ease-of-use or can't be easily reusable with expanded requirements) then you can review why with an architect or dev mgr.
However, if you are interested and want to debate and perhaps understand, check out Atlassian's best practice here: https://developer.atlassian.com/plugins/servlet/mobile#content/view/4915226.
FYI: Atlassian make really leading dev tools in use in v.large companies. Note also that this best-practices is as a part of refactoring meaning they've been through the mill and know what worked and what hasn't).
FYI2 (edit): Reading between the lines of your question, I think your dev is basically instructing you specifically on how transactions are managed within ReST. That is, you don't typically begin, add, end. Instead, everything that is transactional is rolled within a transaction wrapper and POSTed to the server as a single transaction.
I have a website where people do simple cognitive psychology experiments. Currently, people volunteer. To increase numbers of responses, I would like to offer micropayments in a manner similar to Mechanical Turk*.
My question is, What would would be the best system to use to make these payments? I would guess that both paypal and flattr would be options. Has anyone with experience with setting up a micropayment system like this be able to offer advice?
cheers,
Mark
*I am not thinking about using mechanical turk itself, just because I do not think I would be able to control the web based studies exactly I would need.
Flattr would work in your scenario:
Each person doing the test would need a Flattr account.
They’d need to login with their Flattr account on your site (like on fundd.de) or connect your site with their Flattr (easy with OAuth).
Once they’ve taken the test you manually Flattr them and by controlling your monthly budget you control how much each click is worth.
Our API makes setting this up fairly easy and straightforward http://developers.flattr.net/
Downsides:
Required to sign up with an additional service.
Flattr currently caps monthly spending at €100 so if you have lots and lots of testers you’d run into problems of making the payment high enough. We are reconsidering this, at least for users in good standing.
Monetary incentives for testers bring in a different crowd and can influence the results of their tests but you probably already know that.
Cheers,
Teller
PS. I work at Flattr.
I've done quite a bit of searching for a CMS platform or robust framework that will perhaps facilitate the management of signup and subscriptions right of the box with a Twilio tie in.
Thus far I've only been successful at finding how many startups have been funded by the Twilio fund, who's building the nextgen voice enabled app, and various other things of that nature vs any real meat. Seems that there's a dearth of meaningful information without applying a plethora of negative google filters to reduce matches and even then it's still not giving anything real meaningful wrt my search.
So, I'm hoping that someone may have a better eye on the lay of the Twilio landscape as far as already existent systems go that can handle the bulk of needs that exist for a "regular" CMS esque site that needs to also handle subscriptions and e-commerce related tasks.
Hitherto I've just planned to build something out myself, but I wanted to do a sanity check before I spend a lot of time that could perhaps be obviated.
My suggestion would be to find a CMS that does everything you want (except the twilio links), on the platform you want, and then just add the Twilio stuff in. Twilio is simple to use, and should be simple to add-on to most open source CMS's. It'll probably be the easiest part of the project....