STK Payment Channel Tech Demo — Step-by-Step Instructions

Today we’re releasing our first behind-the-scenes demo showcasing the tech that will power the STK state channels, providing the ability to transact with cryptocurrency at any point of sale.

This demo is for experienced cryptocurrency users and those very familiar with the Ethereum infrastructure and blockchain technology. If you’re not a blockchain veteran but would still like to explore our technology, you can watch this video, where we walk through it for you!

We suggest reading this article prior to getting started for a few tips to help you complete the demo successfully. Our STK tech team will be available on Telegram today between 9 a.m. and 5 p.m. if you need help completing the demo.

STK TECH DEMO — Step-by-Step Instructions

Browser support: Chrome and Brave

Setup:

  1. Download MetaMask. Open the extension and select Rinkeby Test Net and create an account.
  2. Use the Rinkeby Faucet to request test Ether. Follow the instruction on how to request
  3. Make sure you are connected with MetaMask, go to MyEtherWallet, click, “network rinkeby (infura.io)” for the dropdown bar at the top. Click “Send Ether & Tokens”, click “MetaMask / Mist”, click “Connect to MetaMask”.
  4. In Token Balances of MyEtherWallet, click “Add Custom Token”, Token Contract Address is `0x2e286e417554ba4df388df1d4612c9659e777455`, Token Symbol is “STK”, Decimals is 18 and click Save. Click “Show All Tokens”, your test STK Token balance will be shown.

Request test STK Token:

  1. Go to the demo page, click “Get Started
  2. Enter the amount to request
  3. Input the address to receive the test token. It will be the ethereum address from metamask
  4. Click “Request
  5. Once the transaction went through, in MyEtherWallet, your STK token balance will be updated

Sign up:

  1. Go to the demo page
  2. Enter your email
  3. Enter your ethereum address from MetaMask
  4. Click “Sign Up”
  5. Wait for your account to be created, a Proceed button will appear once the account is created successfully.
  6. Click “Proceed

Note: We need to communicate with the smart contract to create the payment channel, that’s why there’s a waiting period.

Deposit Test STK Token into STACK mobile wallet:

  1. Go back to myEtherWallet, in the “Send Ether & Tokens” section, enter the user’s stack wallet address from the demo site in To Address input.
  2. In Amount to Send, click the dropdown and select STK. Enter the amount of STK Token you want to deposit to the STACK mobile wallet
  3. Click Generate Transaction -> Send Transaction -> Make Transaction. Click submit on MetaMask
  4. Click Verify Transaction to check if the transaction is successful
  5. Once the transaction is finished, in the demo site, click “refresh”. The stack wallet’s stk token balance will be updated

(Simplify version)

Pay STK Token:

  1. Enter how much you want to pay in CAD, the converted STK amount will be shown.
  2. Click “Pay Amount
  3. Make as many transaction as you want unless mobile wallet runs out of token

Note: Imagine you are paying to merchant for coffee, the transaction is instant since this is a off chain transaction

The following functionality will be administered by STACK but we created the UI so the public can test how claiming and settling channel works. The following operation will be communicating with the smart contract, that’s why there’s a waiting period.

Claiming and settling:

  1. Click “Claim”, a transaction hash will be appeared and you can wait for the transaction to be mined
  2. Once the transaction is mined successfully, there will be a contest period that will last 2 block. Please wait for 10 blocks and more in order to settle successfully.
  3. Once 2 blocks past, click “Settle”. A transaction hash will be appeared and you have to wait for transaction to be mined.
  4. Once the transaction is mined, click refresh and all the balance will be updated.

Congratulations, you just successfully transferred token using a state channel!

(Helpful link. This shows all the transactions record related to test STK token. Please refresh the browsers and sign back in if you want to reuse the channel.)

We’re excited to show you what we’ve been working on over the last few months. With the launch of the STACK fiat pilot app just days away, we are well on our way to delivering the first mass-market solution to instant cryptocurrency payments at point of sale. As always, you can follow the latest news and join the conversation any time on any of our channels: Telegram, Twitter, Discord and Reddit.