ERC20 Smart Contract

The first smart contract is the Token. We don’t invent it ourselves, we take the ERC20 Smart Contract from OpenZeppelin. In this version open-zeppelin v3, with Solidity 0.6 smart contracts:

View the Full Course Now 

Installation

In the console type:

npm install --save @openzeppelin/contracts@v3.0.0

Possible Scenario

Let’s think about a possible work-scenario. We will create a Token which let’s you redeem a coffee at your favorite Coffee Store: StarDucks Coffee from Duckburg. It will look slightly different from other ERC20 tokens, since a coffee is hardly divisible, but still transferrable. Let’s create our Token.

Adding the Token

Add a “MyToken.sol” file to the “/contracts” folder:

pragma solidity >=0.6.0;
 
import "@openzeppelin/contracts/token/ERC20/ERC20.sol";
 
contract MyToken is ERC20 {
    constructor(uint256 initialSupply) ERC20("StarDucks Capu-Token", "SCT") public {
        _mint(msg.sender, initialSupply);
    _setupDecimals(0);
    }
}