F2M – Understanding DApp Like Fomo2Moon 2019

f2m-understanding-dapp-like-fomo2moon-2019
f2m-understanding-dapp-like-fomo2moon-2019
f2m-understanding-dapp-like-fomo2moon-2019

F2M is a decentralized application (DApp) running on the Ethereum network. The DApp consists of a smart contract (an autonomous program on the Ethereum network) carefully programmed and deployed so that we as developers have no influence or impact upon the DApp, the Ethereum in the contract, or advantages thereof. The application itself is completely trustless, will run until the Ethereum network dies and no matter how tantalizingly large the pot gets, will only be paid out according to the DApp rules.

This means that to successfully experience the glory of running away with a giant wallet of Ethereum, or cursing the name of thine enemies as they attempt to do the same. You need Metamask or a compatible Ethereum wallet with a bit of ETH in it to send to Metamask so you can participate in F2M.

To learn more about how trustless blockchain technology powers F2M and the team behind this project, check out our Seizo Noneed.

The core functionality of this DApp is entirely powered only by a deployed open-source Ethereum smart contract. Smart contracts are immutable and this means there is no one who has access to these funds but this autonomous program. You can see the full source code for the contract managing this exchange at any time.


(Photo Credit: CryptoKnight)

This specifics of interacting with a blockchain DApp may surprise you at first. This section tries to lay out the important things to understand:

Smart contracts require a transaction to be sent for every action taken. All actions on the site including buying keys, withdrawing from your vault, picking a vanity name, etc, require an ETH transaction to be sent using Metamask or similar. Actions that do not involve buying, such as withdrawing your existing vault funds, will send 0 Ether transactions to the network instead (with GAS which costs Ether, make sure you account for this!). This is why you see so many “0” ether transactions here.

The F2M smart contract manages all the funds for this exchange. However, accessing secure smart contract data can be a bit slow at times under high load which is why the DApp front-end site often may feel sluggish. You can always use backup sites to perform all the same functionality.

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Goodluck!

Author: Nguyễn Hoàng Điệp

Founder - Admin KiemTienSo (Cryptocurrency Blog & Community)

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