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Premise: I’m still learning here so I apologize if my question is too basic.

My understanding is that technically a smart contract could be built using Ethereum blockchain... no need for native tokens, right?

Tokens are needed not for building the DApp’s features but as an incentive for miners to use the platform, right?

If so, then would it be possible to build a Dapp without native token and still provide a good incentive for miners to use your DApp???

moumous87
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My understanding is that technically a smart contract could be built using Ethereum blockchain... no need for native tokens, right?

This is correct, you can build a smart contract of any kind, tokens are not a must.

Tokens are needed not for building the DApp’s features but as an incentive for miners to use the platform, right?

This is incorrect. Miners have nothing to do with tokens. Miners are incentivised through transaction fees. Transaction fees are determined by gas, which is a measure of how much work is performed in a transaction. For smart contracts, this is directly proportional to the amount of code executed during a transaction, and the actions performed in that code. Actions such as storing data into the blockchain cost more, while simpler actions such as adding two numbers cost less.

The final fee is the amount of gas consumed * gasPrice, which gives you an amount in ether. This amount is deducted from the balance of the address that started the transaction, and is paid out to the miner instead.

If so, then would it be possible to build a Dapp without native token and still provide a good incentive for miners to use your DApp???

Miners don't care about your dApp specifically. They will pick transactions with the highest gasPrice, and highest gasLimit to gasConsumed ratio. Your dApp should be incentivizing users to make transactions.

Raghav Sood
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  • Don’t miners very often get, on top of transaction fees, block rewards in the form a new tokens? – moumous87 Aug 04 '18 at 11:33
  • No, miners only receive block rewards and fees in ETH. – Raghav Sood Aug 04 '18 at 11:35
  • Now I’m a bit lost... I knew that fees were paid in ETH but I read plenty of articles explaining that the block reward is the native token. Please have a look at this: https://ethereum.stackexchange.com/q/55318/44082 – moumous87 Aug 04 '18 at 11:40
  • The native token is ether. – Raghav Sood Aug 04 '18 at 11:41
  • So, are you telling me that the DApp tokens are actually an incentive for users and not for miners? – moumous87 Aug 04 '18 at 11:45
  • Tokens serve a variety of purposes, but yes, being an incentive for users is one of them. Miners do not receive any tokens (unless they also happen to use the dApp themselves and buy some, just like any other user) – Raghav Sood Aug 04 '18 at 11:51
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there are "minable" tokens like bsov, bsovr (i launched this), sedo, kiwi, and the first that was 0xbtc, you can use the token you will create with a contract that will be the reward for the pow job of miners.

here is 0xbtc contract where you can find pow function

https://etherscan.io/address/0xb6ed7644c69416d67b522e20bc294a9a9b405b31#code

i'm new here so i don't know if i can post the link or the code..

cryptodigi
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