FLC Smart Contract Migration Announcement for Q1 2020: Off-chain Issuable, User Withdraw and More
Beginning in March 2020, Flowchain will officially migrate the FLC digital assets from the current ERC20 smart contract to a new ERC20 smart contract that will add the following new features:
- Off-chain Issuance for Tokens. The FLC smart contract launched in 2019 is designed as a mintable token that an on-chain smart contract can mint FLC tokens. Moreover, Flowchain has a hybrid architecture comprised of private blockchains (or “off-chain”) and a public blockchain (or “on-chain”). Thus, to support Flowchain’s hybrid architecture, FLC proposes an off-chain issuable token technology that a smart contract can mint FLC token in the private blockchain.
- Token Redeem. As previously mentioned, to support Flowchain’s hybrid architecture, FLC uses an off-chain issuable token technology to mint tokens. Thus, an on-chain smart contract shall redeem tokens to users.
- User Withdraw. Users can send a signed transaction to the on-chain smart contract to withdraw their funds.
The new smart contract has some new features not mentioned in this announcement, and all FLC token holders are required to migrate to the new smart contract. So, we are also currently working on the token swap smart contract. Please stay tuned for more updates about more new features and the token swap announcement.
Technical information regarding the contract migration is listed below:
- The current FLC smart contract is at the addreess 0x5b53f9755f82439cba66007ec7073c59e0da4a7d
- The new FLC smart contract is at the address 0x32c4adb9cf57f972bc375129de91c897b4f364f1
- Token name is changed from FlowchainCoin to Flowchain
- Token symbol is FLC — no change
- Decimals is 18 — no change
Please notice that the new smart contract is and only is at the address 0x32c4adb9cf57f972bc375129de91c897b4f364f1
The Flowchain network provides a distributed ledger for peer-to-peer IoT networks and real-time data transaction. Furthermore, the Flowchain network can ensure your data trust that would be the originators of the data; thus, the tokenized hardware can enable digital assets exchange without any central party. To learn more about all of Flowchain’s technology solutions, visit https://flowchain.co