Experiment 02
Aim: Setting up an Ethereum Wallet and transferring Ethers using a MetaMask.
LO1: Develop and test smart contracts on local Blockchain.
LO2: Develop and test smart contracts on Ethereum test networks.
LO3: Write and deploy smart contracts using Remix IDE and MetaMask.
Theory:
MetaMask: MetaMask is a handy browser extension that acts like a digital wallet for
Ethereum (ETH) and other Ethereum-based tokens. It's easy to install on popular browsers
like Chrome and Firefox and doesn't require any extra software. Once set up, you can see
your Ethereum address, and send and receive ETH or tokens to anyone else using Ethereum.
What can you do with MetaMask?
1. Connect to Ethereum apps: MetaMask unlocks the world of Ethereum applications
(dApps). You can use it to participate in decentralized exchanges (DEXs) for swapping
tokens, or even stake your ETH on some gambling sites (remember to gamble
responsibly!).
2. Simple and Secure: Setting up MetaMask takes just minutes and doesn't require any
personal information. Your password is encrypted within your browser, keeping your
funds secure. And if you ever forget your password, a special seed phrase helps you
recover your account. Just remember, keep that seed phrase safe – losing it means losing
access to your funds.
3. Store and Manage Ethereum and Tokens: While MetaMask doesn't allow buying Bitcoin
directly, it lets you store, send, and receive Ether (ETH) and other tokens built on the
Ethereum blockchain.
4. Easy Switching and Backup: MetaMask is stored locally on your device. So, if you switch
browsers or computers, you can easily restore your wallet using your seed phrase.
5. Growing Community: With millions of users worldwide, MetaMask is a popular choice
for its user-friendly interface. It lets you access Ethereum dApps with just a few clicks.
Ethereum:
Ethereum is a decentralized global software platform powered by blockchain technology. It is
most commonly known for its native cryptocurrency, ether (ETH). Ethereum can be used by
anyone to create any secured digital technology. It has a token designed to pay for work done
supporting the blockchain, but participants can also use it to pay for tangible goods and
services if accepted. It is designed to be scalable, programmable, secure, and decentralized. It
is the blockchain of choice for developers and enterprises creating technology based upon it
to change how many industries operate and how we go about our daily lives.
Key Features of Ethereum:
1. Decentralized: Ethereum operates without a central authority, making it resistant to
censorship and manipulation.
2. Programmable: Developers can build customized applications (dApps) on the Ethereum
platform using smart contracts, which are self-executing contracts that automate
agreements based on predefined conditions.
3. Secure: Secured by cryptography, the Ethereum network protects user information and
transactions.
4. Scalable: The platform is designed to handle a growing number of users and transactions
efficiently.
Steps:
1. Go to [Link] and download MetaMask.
Figure 1: Metamask landing page
2. Install MetaMask for your browser.
Figure 2: Installing MetaMask on Chrome Browser
Figure 3: MetaMask Home Page
3. Refer to the version number and other details while installing MetaMask
Figure 4: MetaMask Version
4. Make it a browser plugin extension
Figure 5: MetaMask Browser Plugin
5. After the successful installation of MetaMask, open MetaMask.
Figure 6: MetaMask Browser Plugin
6. Create a wallet in MetaMask
7. After creation of the wallet agree to the terms and conditions of MetaMask
Figure 7: Terms and conditions of using MetaMask
8. Create a password for your wallet
Figure 8: Password Creation
9. If you already have a wallet, import it via the secret recovery phase.
10. Next, you need to select 12 words in the same order and click confirm
11. On successful completion of the above steps, you are directed to your wallet.
Figure 9: Successful creation of Wallet
12. Now you’re on Ethereum main net, under settings turn on the “show test networks”
Figure 10: Ethereum mainnet
Figure 11: Turning on show test networks
13. Once the test networks are turned on, you shall see all test networks like ropsten, kovan,
rinkeby, goerli etc.
14. Click on the Sepolia test network, at present you’ll have 0 Sepolia ethers.
15. You request for minimum 1 ETH from the test faucet
16. On requesting for 1 ETH the test network tries to connect to your wallet.
17. Click on Connect.
18. After several requests from the faucet, multiple ETHs can be obtained.
19. Display the details of each SepoliaETH received.
Conclusion:
In this experiment, an Ethereum wallet was created successfully and loaded with ETHs from
the Sepolia faucet which were further used to make transactions with the help of MetaMask.
We also understood how to transfer ethers from one user to another using MetaMask.
We have achieved LO1 & LO2 from this experiment.
The Program Outcomes achieved from this experiment are PO1, PO2, PO3, PO4, PO5, PO8,
PO9, PO10, PO12.
The programme-specific objectives achieved from this experiment are PSO1 and PSO2.