Technology is evolving quickly, enabling quicker change and progress and accelerating the rate of change. Blockchain and cryptocurrency are live examples of such cutting-edge technologies. Today, startups and entrepreneurs worldwide are becoming increasingly curious about creating crypto tokens. If you are a startup eager to develop a crypto token but are doubtful of how to do so, this insightful article will be valuable to you.
Let us dive deep into this article!
What are Crypto Tokens?
A crypto token is an asset built for a decentralized project on the existing blockchain. It can be bought, sold, traded, and also used as a medium of exchange. Most crypto tokens are used within a project underlying blockchain technology.
Popular Crypto Tokens
The most popular crypto tokens in the marketplace are:
- Tether
- Chain link
- USD coin
- Yearn finance and so on.
Types of Crypto Tokens:
There are numerous types of crypto tokens available in the crypto industry:
-> Utility tokens
-> Security tokens
-> Asset tokens
-> Currency tokens
-> Loyalty tokens.
Crypto Token Development Platforms
There are several blockchain platforms available. It can be a challenging task for you to choose the right one for your next Crypto Token Creation project. Here we look at the top 3 blockchain platforms used by top token creation companies for crypto token creation. They are
- Ethereum
- BNB
- Tron.
Let us start with Ethereum:
Ethereum is a decentralized blockchain platform created for executing smart contracts. ERCs are application-level standards of the Ethereum blockchain that can be used for crypto token creation.
Types of ERC token standards are:
- ERC20
- ERC-721
- ERC1400, and so on.
Tron
Tron is a decentralized blockchain network well-suited for large-scale or complex enterprise-level token development. It helps token developers create scalable crypto tokens that are flexible to changing business needs. The most popular crypto token produced on the Tron blockchain is TRC20 tokens.
BNB
The BNB chain is an extension of the Ethereum blockchain that serves multiple purposes. If you are ready to create a crypto token using the BNB chain, you can go with BEP20 or BEP721 token standards.
How to Create a Crypto Token
Create your own Crypto Token in Simple Steps that include:
First and foremost, create tokens. For that, select the network you wish to issue your crypto tokens on. Now, you need to specify your token's essential characteristics including
- Token Name
- Token Symbol
- Initial supply
- Decimals
- initial pricing
Afterward, check if all information selected is correct, then deploy the token. Once your crypto token is ready, you need a crypto token wallet app for storing your crypto tokens. There are limitless perks offered when you make your crypto token on the Ethereum or Tron blockchain.
Wrap up
To finalize, pick one of the blockchain networks as per your project needs. Also, save time and cost by contacting a custom Crypto Token Creation Service provider and creating your crypto token easily right now!