You are reading this because you want to try our smart contract demo. If you do not have MetaMask installed, please refer here before going on.
We have built a demo Decentralized App (DApps) on watches trading. You can buy watches or post watches to sell on the website. The transactions are all made in Ether. ALL the trading records of a particular watch are listed on the Ethereum network so you can know how many previous owners are there and what are the previous prices. By the transparent nature of blockchain, everybody can trust the watch actually comes from a legitimate source by tracing the source of origin.
The demo site: https://redso-blockchain-demo.redso.com.hk/
Set your network to the Rinkeby Test Network
Our demo website is running on the Rinkeby Test Network, please set your wallet to the Rinkeby Test Network.
Purchasing a watch
If you are in the Rinkeby test network, you can see a list of watches (1 entry is 1 particular watch). There should be some watches showing with the “Buy” button. Click on the button, and your wallet will prompt you with a notification window.
Set the fees
In your wallet, you can see all the information of this transaction, on the top, you will see (a) your account, your address, (b) your balance and (c)the account address you are paying to. In the middle, you will see (d) the amount of the product you purchase. Gas limit and Gas price (e) are the details of your transaction fees. The Gas limit is the maximum unit of gas you are willing to pay and the gas price is the unit price of gas you are paying in order to write your transaction record to the blockchain.
For detailed settings on Gas limit and Gas price, we will cover in other blog posts. Let’s stick to the default at the moment.
Submit the transaction
You can review the total amount you have to pay for this transaction. If you have sufficient balance in your account (f), you can simply click submit to finish the transaction, otherwise, you will have to get some ETH first.
You can always check out the status of your transaction on etherscan.io.
Selling your watches
After you bought the watch, you can see it showing as ‘owned by me’. You can then try to resell it by just setting a resell price.
The demo website also allows you sell a new watch. By click on the button on the upper right corner and you can fill in the form about the item you are going to sell. As this action also writes a record to the blockchain, a receiver of you are paying for the gas same as before.
This pretty much ends the demo functionality. We will talk about more on the details of smart contracts in the next post here.
Email us at connect@redso.com.hk if you want to know more about what we can do for you in smart contracts!
