Building a store that accepts ERC20 tokens - page 2.

ionomy

jr. member

Activity: 66

Merit: 1

Quote from: ChrisPop on September 21, 2018, 11:38:27 AM

That would be a really interesting thing to be able to pay with any ERC20 tokens but you need to build a system to match the payments on another exchange with liquidity. Maybe try adding new accepted ERC-20 tokens slowly and only the ones which have a large community who use the tokens for various payments. You're trying to do a big project so I guess you will need a couple of skilled blockchain programmers. Wink

You also need deep markets and liquidity. The biggest issue with using tokens or crypto for goods is the supply chains are still in fiat. So at some point in the process the coin will have to be exchanged. That kind of adoption is going to take a long time and will most likely be filled a niche currency in the markets that need them. (like the Marijuana coins)

ChrisPop

legendary

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Not your Keys, Not your Bitcoins

That would be a really interesting thing to be able to pay with any ERC20 tokens but you need to build a system to match the payments on another exchange with liquidity. Maybe try adding new accepted ERC-20 tokens slowly and only the ones which have a large community who use the tokens for various payments. You're trying to do a big project so I guess you will need a couple of skilled blockchain programmers. Wink

hermankoles

jr. member

Activity: 275

Merit: 1

https://customcontract.network

if you mean special merchants that are directly connected to erc20 tokens, then I will exemplify that the electroneum whose prices continue to fall starting in early 2018 is now starting to rise when they partner with merchants who can immediately receive ETN quickly and this is proven by ETN prices slowly began to rise and I'm sure it will continue to improve

FlamingFingers

sr. member

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I don't understand why anyone would want to spend ERC20 tokens on goods and services. They weren't (aren't) made for this purpose, nor do they have enough value to be considered 'currencies.' There are quite a few of coins that are made to be used for services and goods, and are being utilised (Bitcoin, Litecoin, Ethereum, Monero, Verge, Dash, and even Dogecoin, soon XRP and NANO as well).

Giest

newbie

Activity: 22

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Quote from: AAlex48 on September 15, 2018, 09:15:42 AM

Quote from: Giest on September 14, 2018, 12:37:24 PM

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat. However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services? It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

Many projects have already been created in this sphere.The question is which of them really work.

Which Projects are the best examples of this?

AAlex48

member

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Quote from: Giest on September 14, 2018, 12:37:24 PM

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat. However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services? It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

Many projects have already been created in this sphere.The question is which of them really work.

7jaka7

sr. member

Activity: 628

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BTC, ETH, XMR, LTC

Quote from: Giest on September 14, 2018, 10:17:33 PM

If you build a store that accepts them they have more purpose than Bitcoin. A token with stable value is far easier to use as a medium of exchange than Bitcoins whose price fluctuates wildly and is non inflationary.

The small market value of tokens also make them easier to tailor fit into a micro ecosystem.

Has anyone coded transactions like this with erc20 tokens?

I don't think decentralized token with stable value exist. And usually they're manipulated very easily due to low trading volume and low market cap.

Giest

newbie

Activity: 22

Merit: 0

If you build a store that accepts them they have more purpose than Bitcoin. A token with stable value is far easier to use as a medium of exchange than Bitcoins whose price fluctuates wildly and is non inflationary.

The small market value of tokens also make them easier to tailor fit into a micro ecosystem.

Has anyone coded transactions like this with erc20 tokens?

Zadicar

legendary

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DGbet.fun - Crypto Sportsbook

Quote from: Giest on September 14, 2018, 12:37:24 PM

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat. However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services? It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

Don't know why you do talk about metamask on this one yet we do know the functionality of it and since you do talk about merchants or projects that do have this kind of idea then I would say I didn't see much of those projects do succeed into this matter where having a store that do accepts erc20 tokens.I do rather believe that merchants do focuses out on Bitcoin itself since they do know its reputation when it comes to value than on erc20 which are most shitty tokens or doesn't have really use at all.

Giest

newbie

Activity: 22

Merit: 0

I know people are trading tokens, putting them on exchanges to sell into either BTC, Ethereum or fiat. However, are there any examples of projects setting up online stores where these tokens can be directly spent on goods or services? It seems that using Metamask there ought to be a standard interface somewhere for these kinds of transactions.

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