Every single crypto asset that is traded today was launched at some point, but how exactly did the process look like? If you’ve ever wondered about what creating a brand-new crypto asset looks like, you’ll enjoy this article, as we’ll focus on exactly that. Follow along to find out the basics of how to create an ERC-20 token on Ethereum from scratch—it’s easier than you’d think.
Creating a crypto asset can mean launching a token with its own blockchain, or simply issuing a new coin on an existing network, such as Ethereum, following a certain token standard. In this article, we’ll only focus on issuing an asset on Ethereum, as launching an entire, standalone blockchain and its crypto asset is out of the technical scope of most individuals. Launching an ERC-20 token, however, does not require high technical knowledge, but it does need a general understanding of such systems. With that said, let’s see exactly what it takes to issue your own crypto asset.
The first step is creating an Ethereum wallet. This can be any wallet that supports ERC-20 assets, but MetaMask is by far the most liked option among the majority of users. This is an extremely simple process, so it should not take longer than a few minutes from start to finish.
The next step is a little more technically demanding, as we will need to visit a site called remix.ethereum.org. This is an operating interface where we’ll actually be able to do the token creation itself. For that, we’ll need to edit the code that begins as follows:
The above has to be left as is, but there is a part that has to be altered for your own token’s parameters. Its code looks like this:
As you can see, you’ll need to provide the basic tokenomics of every ERC-20 token, such as the name of your coin, the total and maximum supply of your asset, the ticker, or SYM, of your coin (e.g., UNI, BAT, ETH), and the divisibility of your token (i.e. how many times can your asset be split).
After you’ve created your token, its host network needs to be chosen. This can be done through remix.ethereum.org, too. You can decide between the Ethereum Mainnet, and various test nets as well.
All set and done, your tokens are ready to be transferred to your MetaMask, or any other Ethereum wallet. As this will be the first ever transfer of your asset, it will have a special tag in the history of transactions labelled Contract Creation. This will indicate for anyone how much of the original supply does the genesis address (you) held after the issuance.
There you have it, the basics of an ERC-20 token creation process. While these are just touching on the surface, it doesn’t take a programmer to launch such a token, and, in theory, everyone is able to complete the process when the steps are followed correctly.
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