A guide to demoing the [[real-estate]] contract

Prerequisites

This documentation has been intended for readers with a basic understanding on the Solidity smart contract programming language and on basic web developing tools. In order to run, the demo requires the following software to be installed. For verified functionality, the specified versions are recommended:

Ubuntu 16.04.2 LTS

Test[[RPC]], version 3.0.4

Truffle, version 3.2.1

Node.js, version 7.9.0

Running an [[Ethereum]] client

Run a deterministic TestRPC session

At first, an Ethereum client needs to be run

testrpc -d

Deploy the contract

For demoing purposes, Test[[RPC]] is a good choice for a client, for a number of reasons. First ly, TestRPC creates a new blockchain instance and transactions can be paid with tokens of the said blockchain. The creator of the TestRPC session gains access to the tokens for free and therefore transactions can be made without a cost. Secondly, by default, TestRPC is configured in such a way that there is no block time—instead, blocks are created on demand, whenever transactions occur. This type of a configuration is well suited for quick testing and demoing. Finally, TestRPC can be run in deterministic mode. This means that a smart contract’s address, for example, can be known already before deploying it in the blockchain. This makes it possi ble to reference the address in scripts made for testing or demoing purposes. Deploying the smart contracts The smart contracts written in Solidity need to be compiled and deployed to the blockchain. This can be achieved by using a development environment for Ethereum called Truffle. A sim ple migration script needs to be created for Truffle, after which the contracts can be deployed using the following command:

truffle migrate

Open the status view in browser

Without a graphical user interface, none of the process steps can be visually observed in any way. Therefore, a simple web-browser-based status viewer has been added to the demo application. It shows the changes in the status of the different entities as a crude HTML table. The status viewer can be accessed by opening the web page index.html in any web browser. Open scripts/status/index.html in browser.

Run the issuer script that creates real estates, owners and agents in the contract.

Creating the assets and the agents, and establishing ownership For the demo, agents are needed in order to facilitate a workflow between them. Furthermore, for the purposes of facilitating the sale of a share in a housing association, the ownership of assets and documents needs to be assigned to these parties. In our demo, we utilize an approach where a master key holder has the power to establish ownerships to the system participants. We establish a master key holder that is allowed to create owners for shares of stock, property agents and shares of stock in housing companies in the application. By running the script 0-issuer.js, we create a number of owners, agents and a number of shares of stock, and we assign the first owner to each created share of stock.

cd scripts/
node 0-issuer

Initiate the sale of a real estate

The process of selling a share of stock in a housing company usually starts with the seller contacting a property agent or agents for a listing offer. In the case of our demo application, the seller can announce a solicitation for listing offers by initiating a transaction in the smart contract designed to facilitate the workflow. For the purposes of the demo, the smart contract should therefore be populated with at least one request for listing offers. The script 1-initiateSale.js is used for this purpose

node 1-initiateSale

Open IPFS web user interface

Uploading documents to the IPFS Selling a share of stocks in a housing corporation requires a housing manager’s certificate to be drafted.2 In order to draft the certificate, the building manager must check the validity of the required information by combining data from several public and private information pools, e.g. the title and the mortgage register of the National Land Survey, the trade register of the Finnish Patent and Registration Office, the housing company debt report of the creditor banks, the property management planning report of the housing company in question, and so on. In our demo application’s workflow, the data required for the housing manager’s certificate are requested from the information pools. The pools directly store the requested files in the Interplanetary File System (IPFS) and enter the associated hash values into the smart contract facilitating the workflow.3 To emulate this in our demo, the hashes of three random documents followed by the hash of the housing manager’s certificate are recorded into the blockchain. We first run the following command to set up a local IPFS node.

ipfs daemon

We then open the web user interface at http://localhost:5001/webui in browser, drag-and-drop the information pool documents to the web user interface to upload them, and make note of the hash values of the documents

Upload three documents related to the real estate

Upload the document to IPFS by drag-and-drop in the web UI. See what the hash of the document is and announce it in the smart contract. As the next step, the command above is executed three times, each time replacing with the hash of a different document. We then run the following command once to upload the actual housing manager’s certificate, compiled from the already uploaded documents:

node 2-uploadDocument <document hash>

Upload confirmation letter

As the next step, the command above is executed three times, each time replacing with the hash of a different document. We then run the following command once to up load the actual housing manager’s certificate, compiled from the already uploaded documents:

node 3-uploadConfirmationLetter <document hash>

Create offers to sell the property as a real estate agent/broker

Create offers from real estate agents to sell the property When the housing manager’s certificate has been received, the real estate can be sold. In the workflow of our demo application, real estate agents compete for who gets to sell the real estate by making offers to the seller of the real estate, specifying a fee (e.g. a percentual cut) that they’ll sell it for.

node 4-makeAgentOffer <fee>

As the owner of the real estate, accept one of the agent offers

To emulate this market behavior, we run the command above any number of times, each time changing the fee variable to differentiate between offers. Accepting a real estate agents offer As the last step of the workflow modelled in our demo application, the seller of the share of stocks in a housing company chooses one of the listing offers made by one of the agents. This is emulated by executing the command below, along with the proper offer ID from the status viewer window.

node 5-chooseAgentOffer <offer id>

Ganache Commands

npm run ganache ganache-cli --accounts

Smart Contract

The logic of the smart contract facilitating the workflow is defined in the Solidity file RealEstateMarket.sol. The contract defines the public methods for initiating sales, creating housing manager certificates, as well as creating listing offers and accepting them.

GUI

The status viewer is a web page which is useful for observing changes in the blockchain while running the demo. It shows the status of the workflow process, with all the contributions to it by the various participants. The status viewer can be run by opening the file index.html in any web browser.

Sourcecode

Armanriazi-Github-RealState-Sample Project

nodejs #truffle #ganache #eth #ethereum

[[Ethereum_Ecosystem_Research]]

[[smart-contract]]