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Understanding Metasc and USDT in smart contract transactions
As a developer that creates decentralized applications (DAPP) in Blockchain Ethereum, you are probably familiar with your smart contracts and interactions with various external services. This service that facilitates transactions is Metask, a popular extension of the browser for Ethereum users.
In this article, we will explore why the «Buynode» function in its contractual processes in ETH instead of USDT, despite explicitly passing as a payment token.
Function buynode: a -chau component
The «Buynode» function is a crucial component of your smart contract. Its goal is to buy new nodes on the Ethereum network, allowing users to access decentralized applications (DAPP) based on these nodes for their functionality.
When you call the «Buynode» function with USDT as a payment token, Metask is trying to run the transaction and pay the price of USDT ether on ETH. This process is facilitated by Ethereum Virtual Machine (EVM), which transforms USDT into ETH using the incorporated conversion rate of intelligent contract.
Problem: conversion rate vs. price
However, there is a problem. The Buynode function does not convert USDT into ETH; Instead, it is based on an external service called MetaskConvertFrometha, which transforms eths into USDT for the current market price (ie $ 0.000025 USD/ETH).
This conversion rate is not fixed and can float based on market conditions. As a result, even when you explicitly approve the USDT as a payment token, Metask can choose to turn it into ETH before processing the transaction.
Why conversion rate difference?
The main reason for this difference is the way the "Buynode" function of Metask is implemented. When using thebuynode ‘function, Metask must find a new node in the Ethereum network that accepts the USDT conversion rate used by its contract.
On the other hand, when you explicitly approve USDT as a payment token, Metask can use its own conversion rate incorporated without depending on external service such as «convertfometh.» However, this means that the conversion rate used by your contract is not always the same as the current market price.
Conclusion
To avoid potential problems with conversion rates and ensure that your smart contracts work correctly in different scenarios, it is essential to understand how Metask manages USDT payment chips. To conclude:
- When using the
buynodefunction, Metask turns USDT into Eths for the current market price (ie $ 0.000025/ETH).
- Even when you pass the USDT as an explicit payment token parameter, Metask can choose to turn it into ETH before processing the transaction.
- To ensure reliable intelligent contract transactions, you must explore alternative methods or solutions that ignore these conversion rate problems.
I hope this article has contributed to clarify the situation and provide valuable information to developers that create decentralized applications in the Blockchain Ethereum.