renounceOwnership

The renounceOwnership method allows the current owner of a smart contract to relinquish their ownership rights. Once executed, the contract will have no owner, and certain functionalities that are typically restricted to the owner might become inaccessible. This operation is irreversible, and extreme caution should be exercised before using this method. This method is often found in contracts that implement the Ownable pattern.

Method Signature

async renounceOwnership(signer: WalletSigner): Promise<string>

Parameters

Parameter	Type	Description
signer	WalletSigner	The wallet signer instance accountable for signing the transaction. It must represent the current owner of the contract for the operation to succeed.

Returns

• A Promise that resolves to a string, typically the transaction hash indicating that the ownership renouncement was successful.

Usage Example

Before invoking the renounceOwnership method, ensure that you have a signer instance that corresponds to the current owner of the contract:

const signer = edexaClient.createWalletSigner("current owner's private key");

Then, call the renounceOwnership method:

const transactionHash = await contractInstance.renounceOwnership(signer);
console.log(`Ownership Renounced! Transaction Hash: ${transactionHash}`);

Notes

• Irreversible Action: Once ownership is renounced, it cannot be reclaimed. Ensure you've considered all implications before executing this action.

• The signer provided must correspond to the current owner of the contract. If not, the transaction will likely fail.

• This method is usually found in contracts implementing the Ownable pattern or similar ownership patterns.

• Always handle the signer securely. Avoid exposing private keys in client-side or insecure environments.

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