What is Ethereum token ?
Ethereum creates an open software platform that enables developers to build and deploy decentralized applications ( dApps) where the place generates own coins or tokens.
Ethereum tokens are crypto assets that are being built on top of the Ethereum network to crowdfund or run ICO. They are just a specific type of smart contract that lives on the Ethereum blockchain.
Around the crypto space, there are two types of tokens evolving :
1) Security ETH tokens
2) Utility ETH tokens
To understand about Security ETH tokens & Utility ETH tokens :
Security ETH tokens
Utility ETH tokens
Price derived from services/products
Price derived from external tradable assets
Must be compliant with legal regulations
No legal regulations
Gives ownership rights
Gives no ownership rights
The value of holding
The value of using
What is ERC20 tokens ?
The token follows ERC20 standard. ERC20 is referred as a standard protocol for writing Ethereum smart contracts. Basically, The ERC20 standard defines a common list of rules and functions that an Ethereum token has to implement before performing an Initial Coin Offering (ICO) or a crowdfunding platform.
Okay, let we see foremost reason here to come :
Build your ethereum based ERC20 tokens with these 7 steps
1) Decide what you want your token to be
2) Writing smart contract to crosscheck with ERC standard
3) Test contract code for etherscan verification
4) Validate the tokens
5) Metamasking to generate custom token address
6) Get a token verification from etherscan
7) Deployment for sales to crowdfund without fail
These 7 steps to the successful deployment of ethereum base ERC20 tokens on crowdfunding website or to run dApps. While it is logical to seek the best for ERC20 token development, don’t forget that the final decision is still yours to make.
We are renowned ethereum based ERC20 token development company in India providing the smart and efficient way to create tokens. We always believe blockchain technology has moved forward and now there are several options to develop ERC20 tokens you can drive to fetch the best for your blockchain projects.