DeReit is a decentralized platform for buying real estate properties via the Ethereum blockchain. It allows investors to diversify their exposure to the real estate market with low capital and minimum risk.
- DeReit grabs the real estate related data from the outside world and feeds the data in the smart contract with the help of external adapters
- https://github.com/SagarBehara13/realEstate-adaptar The external Adapter that feeds the data.
- DeReit calculates the amount of tokens generation on the basis of real estate properties surface area.
- Tokens minted can be bought and the bought addresses are termed as shareholders.
- On the basis of a share(token) possessed by the user, The monthly rent is distributed to the users.
- DeReit has a user interface to mint, buy, view the tokenized property.
- https://github.com/adamazad/dereit-web The frontend for DeReit.
Challenges we faced
- It's not easy to find real estate data as per the requirement.
- So we made our own API server that stores data on the cloud and deployed it on Heroku.
- We made an external adapter that grabs data from the server and asked a chainlink node operator to host our adapter.
- Once the adapter and API server were in place the chainlink request was not responding on the truffle.
- Finally the dapp were seamlessly working in the remix editor.
What we learned
- How does chainlink node works.
- Creation of external adapters.
- How can our smart contract communicate with the outside world.