How to create new coin with token feature?

[Dht20]

Tell me if there is an good solution for me(like using fork or..)
My app works like this:

There is main-coin
And there are something like 1000 tokens types (and growing).

-Every token-x have constant amount.
-Every token-x mean something on our real life.
-If X happen in real-life  every token-X holders
will receive reward of main-coin, relatively to his share of the token.
-if Y happen token-x holders will not receive nothing, only token-y holders.
-X and Y(and a lot more) represent events in real life.


Does using ethereum fork will help me here?
Or there is any guide to do this?
(I am a programmer, but 0 experience in blockchain dev.)

Thanks.

[1715225473]

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[1715225473]

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[Coin-1]

Does using ethereum fork will help me here?
Or there is any guide to do this?

It mostly depends on what is X or Y. What these events are in the real life? Today's temperature? The result of elections? Something else?

You need to understand that the events of the smart contracts are connected to the blockchain of Ethereum. Every event should be mathematically implemented.

[Dht20]

Does using ethereum fork will help me here?
Or there is any guide to do this?

It mostly depends on what is X or Y. What these events are in the real life? Today's temperature? The result of elections? Something else?

You need to understand that the events of the smart contracts are connected to the blockchain of Ethereum. Every event should be mathematically implemented.

X and y,z,w events are something the community decides
X - can be trump re-election
Y - can be decaprio winning oscar award.
Z - can be the number of iPhone purchases.
So the x,y,z event need the community confirmation.

[bob123]

So the x,y,z event need the community confirmation.

Then you have to code something like a vote function where every user (who is allowed to, e.g. who stakes coins or whatever) can submit the outcome of the event.
This vote needs to have a fixed timeframe and needs to be 'closed' before everyone has voted.
Still, this requires that at least 51%+ of the participants vote honest. You need to give an incentive for voting honestly (e.g. reward per vote or loss of collateral after wrong vote).

[AdSkull89]

Pretty much everything you described can be done with Ethereum smart contract based on ERC20 token, however this:

-If X happen in real-life  every token-X holders
will receive reward of main-coin, relatively to his share of the token.

is the most complicated part.


To understand why this will be the weakest point of your smart contract you need to understand how smart contract actually work. Basically smart contract is a code that being executed by the miners when you post transaction calling one of it's functions on the ETH blockchain. this contract can check outside resource for certain event appearance (I presume thing you call "real life" is basically anything that is not signed message on the blockchain). But if for some reason this miner won't be able to access outside resource it theoretically can use wrong data for smart contract execution, so it copies that data and posts it as an input for the smart contract function bringing it "inside" from the "outside". There is no guarantee it handled this information correctly and no way to produce proof of correctness, so this will be the weakest point. In order to avoid that there should be some central body who will "vouch" for the information posted (i.e. will interact with smart contract by usual means - calling certain method from it).


TL/DR - bringing information from outside is complicated and unreliable. Avoid it!


PS. YOu don't need to fork ETH to do this - just learn Solidity smart contract language and you done.

[Dht20]

TL/DR - bringing information from outside is complicated and unreliable. Avoid it!

I know that blockchain is an inside information hashing.
But my app main concept is to store on
 the blockchain data that happened on the real life (e.g electoral map of elections).
(Btw, that data is publishing on the web regularly)

The problem is to make a system that
people will type to the network that data, and will get reward.
Maybe I can implement that on mining-pool level .

What do you think?