Understanding the Issue Asset Node

In this quick tutorial, we will cover “Understanding the Issue Asset Node”. The Catenis “Issue Asset” node can be used to issue a specific amount of new Catenis Smart Assets (tokens) to a virtual device that will hold the assets when issued. Assets are commonly referred to as tokens.  Both fungible and non-fungible tokens can be issued. These smart assets can be transferred between devices and also used as inputs to programs that execute business logic, also known as smart contracts.

In this video we will cover:

• General concepts of Issue Asset Node
• Importing a working Issue Asset Node flow
• Running the flow to see its results

Prerequisite

• A Free Catenis Development account or Production account
• Node-RED installed on either a local or cloud environment
• Catenis Flow Pallet installed on Node-RED
• A Catenis Virtual Device configured on Node-RED
• Basic understanding of how to use Node-RED
• Basic understanding of Bitcoin Blockchain concepts
• Basic understanding of fungible and non-fungible blockchain tokens

Thank you for watching Understanding the Issue Asset Node in the Catenis Flow tutorial series. Watch the next video, Working with the Issue Asset Node, to further expand your knowledge.

Links from this video for easy access:

• Working with the List Message Node in Interactive Mode: https://blockchainofthings.com/tutorials/work-with-list-msg-node-IM
• Issue Asset Node documentation on our website: https://blockchainofthings.com/issue-asset-node/
• How to Configure a Virtual Device: https://blockchainofthings.com/tutorials/configure-virtual-device
• Working with the Issue Asset Node: https://blockchainofthings.com/tutorials/work-with-issue-asset-node

To sign up for your free account, head to our website www.blockchainofthings.com.

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Hi, this is Clara for Blockchain of Things.

Today, you will learn about the Issue Asset Node and how it’s used in Catenis Flow.

The Issue Asset Node can be used to issue a specific amount of new

Catenis Smart Assets to the Virtual Device that will hold the assets when issued.

Assets, are commonly referred to as tokens.

Both Fungible and Non-Fungible Tokens can be issued.

These smart assets can be transferred between devices and also used as inputs to programs that execute business logic, also known as smart contracts.

Let’s jump right into the properties panel to better understand what this node can do.

This node’s properties panel contains the standard name field

where you can name the node, and the connection field

where you can set your previously configured Catenis Virtual Device connection,

or configure a new Virtual Device.

Name the asset you will create in the asset name field.

Enter a description of the asset in the asset description field.

If no description is needed, be sure to enter “null” in the asset description field.

Did you know that only 21 million bitcoins will ever be created?

When you create your own token, or digital asset,

the reissue field can ensure that no additional assets will be reissued after your initial issuance.

In the reissue field, indicate whether additional assets would

be able to be created after the initial issue.

In the decimal places field,

indicate how many decimal places can be used to indicate a fraction of the asset.

For example, bitcoin is divisible up to eight places

with the smallest amounts of bitcoin .00000001.

Bitcoin is known as a Satoshi, in honor of the anonymous creator or creators of bitcoin.

You can enter 8 in this field to have the same number of decimal places as bitcoin,

or you can enter any other value up to 100.

For example, if you enter 2 in this field, then the value 3.141 would be an invalid value

for an asset, but 3.41 would be valid.

In the holding device ID field, enter the ID of the device that would hold the asset.

If no specific device should hold the asset, enter “null”.

If you have associated with a unique name to your device in your Catenis Administrative interface

and prefer to use the unique name, instead of a device ID,

you can tick off this box and enter the unique name you call your device

in the device field, instead of the device ID.

Now, let’s take a look at the example flow found at this link:

copy the example flow.

Click the Node-RED hamburger menu and click import.

Paste the flow into the import box and click the import button.

This flow is a working example implementing the Issue Asset Node.

Note, that after implementing the example flow,

you will need to set the Catenis Flow Nodes to your own previously configured Virtual Device.

If you don’t remember how to do this, check out the video at this link:

Now, configure the Issue Asset Node with your own holding device ID.

You can pause this tutorial now, to explore this flow on your own,

and in the next video, you’ll learn how to create this flow from scratch.

Awesome!

After watching this tutorial, you should understand Issue Asset Nodes.

In our next tutorial, you’ll learn how to build your own flow using the Issue Asset Node.

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