MetaMask is one of the most popular cryptocurrency wallets on the market, with over 1,000,000 users. So, let’s get started by going through the process of setting up our MetaMask account. We need to do so in order to pay the appropriate fees for deploying the tokens to the blockchain. Which tokens to obtain depends on the blockchain we are using to develop our ERC-20 token. Get Tokens - Third, we need to acquire tokens.Node - Second, we also need to get our hands on a fully functioning blockchain node for the network in question.MetaMask - First, we need to set up a MetaMask account.However, before we go into how to develop your own ERC-20 token, there are a few preparations to be made: As a Moralis user, it’s possible to cut the development time down to a minimum, and make the process effortless. For a token to be valid as an ERC-20, the token need to implement the following methods and events:Īs we mentioned in the introduction, the ultimate way to become an Ethereum token developer is to use Moralis. However, these are just some of the features of an ERC-20 token. The API provides functionality, enabling developers to set a total token supply, get token balances from accounts, and transfer the tokens from one account to another. The ERC-20 standard implements an API for tokens with smart contracts. But what exactly does this mean for the tokens themselves? As such, ERC-20 are fungible tokens, enabling us to measure the value of a token and compare it to another. This further means that tokens share the same type and value, making them interchangeable. The ERC-20 standard ensures that tokens have the same identical properties. This feature is quite powerful and needs to be regulated by a standard, and that’s why the ERC-20 exists. A few examples are lottery tickets, points on an online platform, skills for a character in a game, fiat currency, etc. Within the Ethereum ecosystem, ERC-20 token have the ability to represent virtually anything. When it comes to the Ethereum blockchain and dApps, tokens are one of the most essential features. Join Moralis for free, and get started utilizing the platform’s tools today! What are ERC-20 Tokens? So, whether you’re developing dApps or creating tokens, Moralis is here to help. Moreover, Moralis provides a fully managed backend infrastructure, allowing you as a developer to focus on the frontend. One example is Moralis Speedy Nodes, which we’ll use to develop our ERC-20 token. As such, we’ll use Moralis for creating our ERC-20 token in this article.įurthermore, Moralis also provides a great selection of other powerful tools to use throughout the development process. You’ll quickly find out why Moralis is becoming the premier Web3 development platform, as it provides everything for developing and deploying your own dApps and tokens. The best tool and platform for this job is Moralis, which does all the heavy backend lifting for you. Creating an ERC-20 token does not have to be difficult, not with the right tools. In fact, it is neither sorcery nor magic – it’s just Moralis. Now you might be asking yourself “create your own ERC-20 token in just 10 minutes? What sorcery is this?”. For this reason, we’re going to look closer at how to create your own ERC-20 token in just 10 minutes. Because of this, many chains also apply the Ethereum ERC-20 token standard to their own networks. Furthermore, Ethereum is the origin of the EVM (Ethereum Virtual Machine), which is now extensively used by other popular chains such as Polygon. These dApps and DeFi projects generally run on Ethereum-based ERC-20 tokens. Ethereum is undoubtedly the largest smart contract-enabled blockchain around, and hosts a vast ecosystem of dApps (decentralized applications). However, even though Bitcoin is the largest cryptocurrency by market capitalization, Ethereum trumps it in dApp development. The concept of “blockchain” is often associated with Bitcoin, the largest cryptocurrency from a market cap perspective.
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