CODEWITHSUNDEEP
ethereum
kyaw swar
kyaw swar

Reputation: 39

How can ethereum token use as payment gateway on ecommerce website

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.

Upvotes: 0

Views: 920

Answers (3)

Akhilesh Pandey
Akhilesh Pandey

Reputation: 66

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

Upvotes: 0

Charles Cao
Charles Cao

Reputation: 1

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.

Upvotes: 0

Khaja Mohammed
Khaja Mohammed

Reputation: 779

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.

Upvotes: 1

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