Introduction: Launching your own Token
Cryptocurrencies and blockchain technology indeed possess intricate complexities. For those delving into this realm, the notion of launching their own token has likely crossed their minds. Fortunately, there exist multiple avenues to achieve this endeavor.
One approach involves constructing an entirely new blockchain. Opting for this route demands a substantial level of difficulty and should be pursued exclusively when equipped with a distinctive concept, a proficient developer team, and ample time at your disposal.
The second way is easier and more realistic. It is possible to base a new token on an already existing blockchain.
What is the Difference between Token and Coin?
During the process of crafting a fresh cryptocurrency, it's imperative to grasp that two distinct categories exist within this realm: tokens and coins.
Equally crucial is comprehending the disparity between these two entities, along with their designated roles and the technological foundations upon which they rest.
Coins represent a subset of crypto-assets distinguished by their independent blockchain technology. Their primary functions encompass investment and payments. A prime exemplar of coins is Bitcoin, characterized by its distinctive autonomous blockchain infrastructure—the Bitcoin network itself.
Conversely, tokens belong to the category of crypto-assets devoid of autonomous blockchains or networks; instead, they rely on preexisting, more expansive coins' networks. Comparable to coins, tokens serve investment functions, albeit they may serve entirely distinct objectives. These encompass roles like acting as payment assets within diverse crypto initiatives, spanning domains like gaming or the metaverse.
Moreover, it's worth noting that tokens exhibit several diverse types. Should you harbor an interest in delving deeper into the nuances of how these tokens diverge and which specific token variety aligns with your ownership aspirations, you can peruse our comprehensive blog for an in-depth exploration.
How to Launch own Token using Ethereum Network?
The Ethereum blockchain introduces a notable avenue for individuals to generate their own tokens, even without a background in programming. A dedicated digital tool facilitates this endeavor, necessitating alterations to the existing ERC-20 code.
Embarking on the journey of creating a new token commences with the selection of an apt name. The crypto domain abounds with assets sporting imaginative titles, some of which might have begun as jests but eventually evolved into symbols of steadfast and genuine cryptocurrencies—such as the case of Dogecoin.
In the file you downloaded, find NewToken.sol and open it in Ethereum Remix.
After opening the file, information will appear on your monitor, in which you need to enter data like the total circulation of the token, name, symbol, etc.
With all the requisite information inputted, your application stands poised to infuse your token into the network. Just a single step remains. Within Ethereum Remix, opt for the "Compile NewToken.sol" button, and then proceed to choose "Auto compile." At this juncture, your token creation process is finalized and set to go.
How to Launch your own Token using Tron Network?
The Tron network, like the Ethereum blockchain, is one of the best ways to launch your own token.
First of all, we need to enter Tronscan, go through a simple registration and then choose what type of token we want to download - TRC-10 or TRC-20.
Subsequently, it's imperative to replicate the same set of details about the token as previously undertaken with the aid of Ethereum Remix. This encompasses attributes such as the token name and symbol, among others. Following this, the platform seamlessly integrates this information into the smart contract, which, in turn, is inducted into the blockchain through an automated process.
That’s it, you already know how to launch Token on Tron Network.
Summary: Your very first own Token
Crafting your personal token has never been more accessible, regardless of your chosen path—be it via Ethereum Remix or Tronscan. These methodologies eliminate the necessity for extensive time commitments, a dedicated team of developers, or even an inherent proficiency in programming.
It's crucial to underline that equipping your token with a purpose holds paramount significance. Identifying a fitting and meaningful role for your unique crypto asset, one that resonates with both you and other members of the crypto community, is imperative.