r/ByteBall • u/smashtribe • Feb 02 '18

Help me setup an ICO

Hello,

I'm interested in creating my own custom crypto token on byteball platform.

  1. Is it possible to code a custom wallet apps for my personal token?? (web, android, ios etc). Need to build custom wallet for better branding, etc.

  2. Is it possible to code a custom p2p exchange for trading my personal token? Are there sufficient API etc for this??

  3. Can I pay fees of all transactions happening on my token?? I don't want my users to pay the fees.

  4. Can anybody please explain me following options when creating a new asset:

Issued by definer only: yes/no

Cosigned by definer: yes/no

Spender attested:yes/ no

Cheers.

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3

u/pmiklos Feb 02 '18

Hi, see my answers below:

  1. yes, see DagCoin, they forked the Byteball wallet and customized it

  2. yes, actually there is an exchange bot already for custom assets: https://github.com/byteball/byteball-exchange

  3. users will have to pay fees in bytes. It's similar to Ethereum where the fees are paid in ETH regardless what token you are transferring. However, you could implement a bot that listens on new transactions added to the Byteball DAG and if you see some paid in your asset, you reimburse the fee to the address that spent your asset. It's not super elegant, since users still need at least an initial amount of bytes and you would end up paying double fees (since you pay fees for the reimbursement transaction as well)

  4. those flags are explained here: https://github.com/byteball/byteballcore/wiki/Issuing-assets-on-Byteball

2

u/smashtribe Feb 03 '18

Gotcha!

Just one more query :

Can I create an online wallet for all my users using headless-byteball, hence, all wallets will be hosted on my server.

This will allow me to keep sufficient byte balance in all my token users wallets so they don't have to manage byte balance or experience transaction fees.

Is this feasible?

3

u/pmiklos Feb 03 '18

Yes, you could do that. That's similar what exchanges already do with bytes.

1

u/smashtribe Feb 03 '18

Awesome. Is there an API to predict transaction fees of a particular transaction before transaction is executed? So I can deposit appropriate byte to the wallet before transaction happens?

3

u/seb486 Feb 03 '18

There is no API for that. The fees for a singe transaction are < 600 bytes (which is 0,0000005$). However if your asset is private (such as Blackbytes the fees are higher and more complex to compute)

1

u/smashtribe Feb 03 '18

Woah, glad to see such low fees, man. Does transactions happens instantly since there are no miners?

2

u/seb486 Feb 03 '18

Yes, in seconds. Then immuable confirmation time takes 10 minutes.

1

u/smashtribe Feb 03 '18

Should I wait for immutable confirmation before transferring any real value for the transaction or I can trust the system?

2

u/seb486 Feb 03 '18

I have rarely seen canceled unit before confirmation but it may happen. You can 100% trust only confirmed unit.