Once you have deposited funds in your wallet, select the tokens tab and then click "Create New Token. This will bring up a dialog box where you can enter the name and ticker symbol for your token. You also have the option of choosing the total circulating quantity of your new token as well as deciding whether the token will have a fixed supply or not.
Once you have entered all the appropriate details, click "Create New Token. Once you have completed this step, the tokens will appear in your Electron wallet. Once the newly created tokens are in your wallet, you can send them to other users and wallets just as you would any other token.
Keep in mind that the transaction fees for sending your new token will still have to be paid in Bitcoin Cash since BCH is the underlying blockchain. For this example, I will send some tokens to the Badger wallet. All we have to do to send the token is click the "Send" tab in Electron and enter the appropriate details.
Just as we can select the gas fee with ERC type tokens, we can select the BCH amount that we are willing to pay to send the transaction. They can be used just like any other token. Depending on what you want to do with the token, you could build a website that uses them as a utility token, give them away in exchange for bounties, or simply hold onto them and brag to your friends about having a cryptocurrency token named after you.
Although it is easier to create tokens with SLP and cheaper to send them, keep in mind that using a SLP based token will require your users to have a SLP-enabled Bitcoin Cash wallet and transaction times could be considerably slower than when using an Ethereum based token. All in all though, I think that there is a lot of potential in the Simple Ledger Protocol and that it is a great way to easily and cheaply create a crypto token, so why not give it a try.
Hi everyone. I am passionate about cryptocurrency and hope that I can make at least some small contribution towards promoting wider crypto adoption and understanding. This is just a place for me to post some of my thoughts and analysis. I hope that someone finds them useful. Publish0x PRs. Mike Ermolaev.
Alternatively sign up with email. Already have an account? Creating Your Token Now that we have the technical stuff out of the way, lets jump right in and create your own cryptocurrency token. Within a few minutes, your token will arrive in the Badger wallet. How do you rate this article? The Part Time Economist Hi everyone. We pay the tips from our rewards pool. Publish0x PRs 18 hours ago 2 minute read.
DeSo BitClout Primer. Rekt 30 Nov 20 minute read. For example, if you want to make a decentralized voting application, a smart contract would be the voting logic that needs to run on the blockchain. The biggest smart contract blockchain thus far, Ethereum, is also cross-compatible with Binance Smart Chain. However, unlike Smart Chain, Ethereum has substantially higher transaction fees. Creating a BSC token is surprisingly easy. The token standard ensures basic functionality for the token, such as transferring, returning a balance, viewing token ownership, etc.
Also, any transaction that occurs with these tokens on-chain will require a fee paid in BNB. This fee is compensation for validators for securing the network. Go to Token Create. The link for step one can be viewed in the Trust Wallet Dapp Browser by typing in cointool. Make sure you are set to the Smart Chain network on the top right. Can Burn: This check specifies whether your tokens can be burned to decrease the supply. Can Mint: Minting specifies the opposite, whether more tokens can be created to increase the initial supply.
Can Pause: This check specifies whether your token and all associated operations can be halted and resumed whenever needed.