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Convert HIVE To HBD

How to convert HIVE to HBD for a specified account.

Full, runnable src of Convert HIVE to HBD can be downloaded as part of: tutorials/javascript (or download just this tutorial: devportal-master-tutorials-javascript-37_convert_hive_to_hbd.zip).

This tutorial will take you through the process of checking a specific users’ balances and then broadcasting the intended HIVE conversion to the blockchain. Demo account information has been provided to assist with the tutorial. This tutorial has been set up for the testnet but can be easily be changed for production.

It should be noted that unlike the opposite conversion, the converted HBD will be available instantly, but the collateral takes 3.5 days for the transaction to be processed. It is also not possible to stop a conversion once initialized. During the 3.5 days for it to be converted and as the conversion price fluctuates you could actually be receiving less released HIVE collateral. Because of this, the method in this tutorial is NOT the preferred or most efficient way of converting HIVE to HBD. This tutorial just illustrates that it can be done in this manner.

There is a marketplace on Hive that allows you to “sell” your HIVE instantly. With this process you can get your HBD immediately and at the exact price that you expect. The market place is the better way to convert your HIVE. This article provides more information on using the market to exchange your HIVE to HBD.

Hiveconnect offers an alternative to converting HIVE with a “simple link” solution. Instead of running through a list of operations on your account, you can simply use a link similar to the one below substituting the three parameters for your own details. You will be prompted to enter your username and password before the transaction will be executed.

https://hivesigner.com/sign/collateralized-convert?owner=username&requestid=1234567&amount=0.000%20HIVE

Intro

This tutorial uses the database API to gather account information for the current HBD and HIVE balances of the specified user. This information is then used to assist the user in completing the conversion request. The values are then captured and the operation is transmitted via the broadcast API. The parameters for this convert function are:

  1. owner - The account for which the conversion is being done
  2. requestid - Integer identifier for tracking the conversion. This needs to be a unique number for a specified user
  3. amount - The amount of HBD to withdraw

The only other information required is the private active key of the user.

Also see:

Steps

  1. Configure connection Configuration of dhive to communicate with a Hive blockchain
  2. User account User account is captured and balances displayed
  3. Input variables Collecting the required inputs via an HTML UI
  4. Broadcast operation Broadcasting the operation to the blockchain

1. Configure connection

As usual, we have a public/app.js file which holds the Javascript segment of the tutorial. In the first few lines we define the configured library and packages:

import { Client, PrivateKey } from '@hiveio/dhive';
import { PublicTestnetHive as NetConfig } from '../../configuration'; //A Hive Testnet. Replace 'Testnet' with 'Mainnet' to connect to the main Hive blockchain.

let opts = { ...NetConfig.net };

//connect to a hive node, tesetnet in this case
const client = new Client(NetConfig.url, opts);

Above, we have dhive pointing to the testnet with the proper chainId, addressPrefix, and endpoint by importing it from the configuration.js file. Due to this tutorial altering the blockchain it is preferable to not work on production.

2. User account

The user account is input through the UI. Once entered, the user can select the search button to display the HIVE and HBD balances for that account. During this step, a random number is also generated for the requestid. This value can be changed to any integer value as long as it is unique for the specific account. If the requestid is duplicated an error to do with “uniqueness constraint” will be displayed in the console. For ease of use values for a demo account has already been entered in the relevant fields once the page loads.

window.onload = async () => {
    const account = NetConfig.accounts[0];
    document.getElementById('username').value = account.address;
    document.getElementById('privateKey').value = account.privActive;
};

With the account search function as seen below.

window.submitAcc = async () => {
    const accSearch = document.getElementById('username').value;

    const _account = await client.database.call('get_accounts', [[accSearch]]);
    console.log(`_account:`, _account);

    const availHIVE = _account[0].balance
    const availHBD = _account[0].hbd_balance 

    const balance = `Available balance: ${availHIVE} and ${availHBD} <br/>`;
    document.getElementById('accBalance').innerHTML = balance;

    //create random number for requestid paramter
    var x = Math.floor(Math.random() * 10000000);
    document.getElementById("requestID").value = x
}

3. Input variables

The parameters for the convert function are input in the UI and assigned as seen below once the user presses the convert button.

//get all values from the UI
//get account name
const username = document.getElementById('username').value;
//get private active key
const privateKey = PrivateKey.fromString(
    document.getElementById('privateKey').value
);
//get convert amount
const quantity = document.getElementById('quantity').value;
//create correct format
const convert = quantity.concat(' TESTS'); // HIVE = mainnet symbol; TESTS = testnet symbol
//assign integer value of ID
const requestid = parseInt(document.getElementById('requestID').value);

4. Broadcast operation

With all the parameters assigned we create an array for the convert function and transmit it to the blockchain via the sendOperation function in the broadcast API.

//create convert operation
const op = [
    'collateralized_convert',
    { owner: username, amount: convert, requestid: requestid },
];
    
//broadcast the conversion
client.broadcast.sendOperations([op], privateKey).then(
    function(result) {
        console.log(
            'included in block: ' + result.block_num,
            'expired: ' + result.expired
        );
        document.getElementById('convertResultContainer').style.display = 'flex';
        document.getElementById('convertResult').className =
            'form-control-plaintext alert alert-success';
        document.getElementById('convertResult').innerHTML = 'Success';
    },
    function(error) {
        console.error(error);
        document.getElementById('convertResultContainer').style.display = 'flex';
        document.getElementById('convertResult').className =
            'form-control-plaintext alert alert-danger';
        document.getElementById('convertResult').innerHTML = error.jse_shortmsg;
    }
);

The results of the operation is displayed on the UI along with a block number in the console to confirm a successful operation.

Final code:

import { Client, PrivateKey } from '@hiveio/dhive';
import { PublicTestnetHive as NetConfig } from '../../configuration'; //A Hive Testnet. Replace 'Testnet' with 'Mainnet' to connect to the main Hive blockchain.

let opts = { ...NetConfig.net };

//connect to a hive node, tesetnet in this case
const client = new Client(NetConfig.url, opts);

window.submitAcc = async () => {
    const accSearch = document.getElementById('username').value;

    const _account = await client.database.call('get_accounts', [[accSearch]]);
    console.log(`_account:`, _account);

    const availHIVE = _account[0].balance
    const availHBD = _account[0].hbd_balance 

    const balance = `Available balance: ${availHIVE} and ${availHBD} <br/>`;
    document.getElementById('accBalance').innerHTML = balance;

    //create random number for requestid paramter
    var x = Math.floor(Math.random() * 10000000);
    document.getElementById("requestID").value = x
}

//submit convert function executes when you click "Convert" button
window.submitConvert = async () => {
    //get all values from the UI
    //get account name
    const username = document.getElementById('username').value;
    //get private active key
    const privateKey = PrivateKey.fromString(
        document.getElementById('privateKey').value
    );
    //get convert amount
    const quantity = document.getElementById('quantity').value;
    //create correct format
    const convert = quantity.concat(' TESTS'); // HIVE = mainnet symbol; TESTS = testnet symbol
    //assign integer value of ID
    const requestid = parseInt(document.getElementById('requestID').value);

    //create convert operation
    const op = [
        'collateralized_convert',
        { owner: username, amount: convert, requestid: requestid },
    ];
    
    //broadcast the conversion
    client.broadcast.sendOperations([op], privateKey).then(
        function(result) {
            console.log(
                'included in block: ' + result.block_num,
                'expired: ' + result.expired
            );
            document.getElementById('convertResultContainer').style.display =
                'flex';
            document.getElementById('convertResult').className =
                'form-control-plaintext alert alert-success';
            document.getElementById('convertResult').innerHTML = 'Success';
        },
        function(error) {
            console.error(error);
            document.getElementById('convertResultContainer').style.display =
                'flex';
            document.getElementById('convertResult').className =
                'form-control-plaintext alert alert-danger';
            document.getElementById('convertResult').innerHTML =
                error.jse_shortmsg;
        }
    );
};

window.onload = async () => {
    const account = NetConfig.accounts[0];
    document.getElementById('username').value = account.address;
    document.getElementById('privateKey').value = account.privActive;
};

To run this tutorial

  1. git clone https://gitlab.syncad.com/hive/devportal.git
  2. cd devportal/tutorials/javascript/37_convert_hive_to_hbd
  3. npm i
  4. npm run dev-server or npm run start
  5. After a few moments, the server should be running at http://localhost:3000/
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