CUTcoin

CryptoNote Tokens (CNT1)

Testnet User Manual


Introduction
CUTcoin Token is the named entity representing a specific value. Once created, token can be owned or sent to another owner. No token duplicates (tokens with the same names) are allowed.
CryptoNote Tokens implemented in CUTcoin is the extention of CryptoNote protocol that allows creating and manipulating named tokens. Tokens are very similar to the coin itself, and that's one of their advantages: well known and time proved protocol that guarantees reliable privacy and security. The only place where the information about tokens is stored is the CUTcoin blockchain, and this means no additional centralization were brought.
Tokens have unique names and the corresponding unique ids. CUTcoin id is 0 (zero). Each transaction output in the system has its id, and it's not encrypted, so users can see it. When a transaction with tokens has been sent, somebody can note that the tokens with specific id are circulating, but the sender and receiver are not known due to one time addreses protocol. Transaction amounts are also hidden thanks to Ring Confidential Transaction (RCT), so overall privacy is not worse than CUTcoin's one.
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User operations
To create a new token command line (CLI) wallet can be used. The requirements for this operation are:
  • Token name must be unique, i.e. no other token with the same name has been created and persisted in CUTcoin blockchain. Token name can consist of English capitalized letters and digits, the length is 1 - 8 symbols. CUT and CUTCOIN names are not allowed for security reasons.
  • Token creation fee (TCF) + transaction fee must be paid in CUTcoins, so the user must have enough balance. Current TCF is 100CUT, it's a flat rate that doesn't depend on a name, token supply, or anything else. Transaction fee is estimated dynamically during the process of transaction creation, but in most cases, it is less than 1CUT. So, one should have 101CUT to create a token. TCF goes to the so-called 'coinburn address' which is public, but all funds it receives become unspendable for any user.
The token creation command is:
create_token <token_name> <token_supply>
  • Token_name, as described before, is the user-defined name of the token. It has an integer representation called 'token id'. Token id and token names have one-to-one relation: 'token name' -> 'token id', 'token id' -> 'token name'. This means, consequently, that token id is also unique.
  • Token supply is the total number of tokens with the 'token_name'. It can be value in the range 1 .. 200 000 000, the latter is the total CUTcoin supply.

The transaction that creates a new token is called 'token genesis transaction' (tgtx). It has a specific structure and acceptance rules as, figural, tokens being created out of thin air.
Tokens have the same default spendable age (10 blocks) as CUTcoin, so they can be transferred in approximately 20 minutes after their creation.
Information about token balance in CLI wallet
Command that lists tokens with their balance is:
token_balance [token_name] [detail]
'token_balance' without arguments lists all tokens form the current balance, you can see an example below
>token_balance
Currently selected account: [0] Primary account
Tag: (No tag assigned)
           Name               Balance      Unlocked balance
        CUTCOIN        449.7591874800        449.7591874800
             Z1      10000.0000000000      10000.0000000000
             Z2        100.0000000000        100.0000000000
             Z3   33333333.0000000000   33333333.0000000000
If the 'token_name' is specified, the output contains an information for a single token:
>token_balance Z1
Currently selected account: [0] Primary account
Tag: (No tag assigned)
           Name               Balance      Unlocked balance
             Z1      10000.0000000000      10000.0000000000
'detail' is the optional flag that enables extended output with splits by subaddresses
token_balance Z1 detail
Currently selected account: [0] Primary account
Tag: (No tag assigned)
           Name               Balance      Unlocked balance
             Z1      10000.0000000000      10000.0000000000
Z1 balance per address:
        Address               Balance      Unlocked balance Outputs                 Label
       0 TCU1ZN      10000.0000000000      10000.0000000000      11       Primary account
The major new features are beyond just three commands:
Transferring tokens between accounts
For token transfers 'transfer_token' command should be used:
transfer_token <token_name> <address> <amount>
It has 3 required parameters.
  • 'token_name' is the name of the token that needs to be transferred,
  • 'address' is the wallet address of the receiver and
  • 'amount' is the amount of tokens to transfer.

This command cannot be used to transfer CUTcoins.

Multiple tokens / multiple destinations also cannot be specified (will be implemented in the future). This transaction, like any other CUTcoin transaction, has its fee that depends on its size. This fee can be paid only in CUTcoins, and it means one should have enough CUTcoin balance (and certainly token balance too) to transfer tokens.
The example of 'transfer_token' output:
transfer_token ALPHA TCU1qyPcrNfS1mnbYB6C5FfTc4yJqLN4kL1t3P3Bkr7SMBRcBzdYKkDUFDSQTfMzjTXEBzqu29bEZR91PKbWxmzY3ah3X5SDJs 5
Wallet password: 
No payment id is included with this transaction. Is this okay?  (Y/Yes/N/No): y
Transaction successfully submitted, transaction <a18a55f432cb21d1cfd10ce13967f9c40e9102952c205130a6de85e245aad361>
You can check its status by using the `show_transfers` command.
Explore all CNT1 tokens
Users can list all tokens ever created in the blockchain using the command 'get_tokens':
get_tokens [token_name_prefix]
This command has an optional mask 'token_name_prefix' that filters output. The example of this command usage:
get_tokens
           Name              Token ID                Supply                  Unit
          ALPHA   4705223981953712128                   100           10000000000
           BETA   4775315618045886464                   200           10000000000
           BONG   4778123796513030144                   650           10000000000
          DELTA   4919422092723617792                   400           10000000000
          GAMMA   5134470044377415680                   300           10000000000
         REBONG   5928217392886251520                    15           10000000000
             Z1   6498975737272336384                 10000           10000000000
             Z2   6499257212249047040                   100           10000000000
             Z3   6499538687225757696              33333333           10000000000
List payments including tokens
CUTcoin has the command that lists transfers in the wallet, it is 'show_transfers'. It supports tokens so that each transfer has a specific token name in its outline that clarify what exactly was transferred. The example output is below:
show_transfers
  368114     in       2020-07-09 09:48:30 CUTCOIN        10.0000000000 578da8fa5af7cb41e4366c9b571504f5114a7238c889833121104b9f089554b8 0000000000000000 0 - 
  368115     in       2020-07-09 09:50:07 CUTCOIN       100.0000000000 187f11c56e75545ca82cf01fcc14238e6fa985aa1c53dae77259e21588789ddd 0000000000000000 0 - 
  368115     in       2020-07-09 09:50:07 CUTCOIN        10.0000000000 f5cfb6c0705c5fac52764bca3df57afcf1833a8df5d7fe523632384d8e817ab0 0000000000000000 0 - 
  368115     in       2020-07-09 09:50:07 CUTCOIN        10.0000000000 44736fffd8168a2414706112fd98fd34c6a480c88828abbf8634ea8fe530d975 0000000000000000 0 - 
  368115     in       2020-07-09 09:50:07 CUTCOIN        10.0000000000 0222e6079f42fb2e2ee447950560e090b9cc141157adfdb8f6242aff1c40b73b 0000000000000000 0 - 
  368115     in       2020-07-09 09:50:07 CUTCOIN       100.0000000000 d469868314a53bf678bffa282cb49b06b3b7a14caf2c9ef8bfd116e2b0f6455e 0000000000000000 0 - 
  368115     in       2020-07-09 09:50:07 CUTCOIN        10.0000000000 023f17b872aa33322824e647424fdccc3b5cfe4a7c05c1b805449930aa68571c 0000000000000000 0 - 
  368116     in       2020-07-09 09:52:06 CUTCOIN       500.0000000000 2d88ecda0fab96bdcc21b36c41ace49794bead1fc9cc12399526a5968240c642 0000000000000000 0 - 
  368130     in       2020-07-09 10:20:16 Z3  33333333.0000000000 9c9fca8b6bf3841f116461d819d6a9ba3b9a6b054f751bd12b1bd243d646cab0 0000000000000000 0 - 
  368130    out       2020-07-09 10:20:16 CUTCOIN       100.0000000000 9c9fca8b6bf3841f116461d819d6a9ba3b9a6b054f751bd12b1bd243d646cab0 0000000000000000   0.0709820600  0 - 
  368131     in       2020-07-09 10:22:00 Z2       100.0000000000 0515e38b86e07003f048f985b7ba0b51553066a9087c67cd7f71f422147352d2 0000000000000000 0 - 
  368131    out       2020-07-09 10:22:00 CUTCOIN       100.0000000000 0515e38b86e07003f048f985b7ba0b51553066a9087c67cd7f71f422147352d2 0000000000000000   0.0709450100  0 - 
  368132     in       2020-07-09 10:23:49 Z1     10000.0000000000 5a54bb956c7ee45c7b01815cb0a927c631c0cfb52ded095419fcfd015bfb285e 0000000000000000 0 - 
  368132    out       2020-07-09 10:23:49 CUTCOIN       100.0000000000 5a54bb956c7ee45c7b01815cb0a927c631c0cfb52ded095419fcfd015bfb285e 0000000000000000   0.0709635300  0 -