Ethereum Asked by developer base on November 30, 2020
I saw a dapp using Decentralized approach for the buying and selling ERC20 Tokens ..But there’s no proof of using the functions defined in smart contract in the web3js library.How is that possible ?..What am I missing here??
I know, Smart contract code is on etherscan..Another scenario is, The Dapp take notes of the users data and authorized them based on their credentials..I don’t see any code related user structure in web3js nor solidity…Instead they use PHP with a form to check if the credentials match..but they do use Metamask or Trust Wallet..So is it centralized or decentralized approach or combination of both.. is it possible to do so??
So this dapp here.
For sure this a dapp. So what is happening:
Click on register: Dapp requests user for account access via Metamask, where user have to confirm so that Dapp can move forward.
Once you have Registered, on the dashboard you see the smart contract address to which it is interacting i.e. "0x7abE2a84368af480fFd4Beb7676133C30F37DC05" and your selected address on right hand side. Please refer to snapshot below.
Now you can buy some tokens by submitting a transaction via metamask, metamask popup does appear for the confirmation. Due to some error tx didnt succeed in my case.
Once Tx succeed, you can lookup that transaction on contract page.
Few things, since it didnt ask for any personal information, any KYC, its a non-custodial dapp where complete control over the funds and token is with user.
Rest how much logging are they doing behind the scene over their server not sure about that. You can check those things from developer tab and see if any request is being sent to any other application server, and what data is sent.
Hope this helps.
Answered by Ashutosh Singh on November 30, 2020
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