How To Launch A Token On Blockchain?

how-to-launch-a-token-on-blockchain

Welcome Cryptocurrency and Token Enthusiasts,

Are you still using fiat currencies in your business? I believe that it's a time for change because cryptocurrencies are revolutionizing all around the world. Many entrepreneurs have started to use digital currencies for their business transactions and crypto tokens for tokenizing their organizational assets.  As per the economic report, when compared to the previous year, cryptocurrency users have significantly increased in the current year. Undoubtedly, we have officially stepped into the world of digital currencies.  But still, some of them are not clear about cryptocurrencies and crypto tokens. In this blog, you will get a detailed view of digital currencies and how to launch crypto tokens on the blockchain.

What is Cryptocurrency?

Cryptocurrency is a digital currency developed with blockchain networks' support. It will function without interference from any central authorities, like banks or other financial institutions. It exists only in e-format, and it will not be printed like fiat currencies. It can be exchanged with another person globally through blockchain networks.

List of Cryptocurrencies Available in the Market

In the crypto market, a variety of digital currencies are available. Here, popular cryptocurrencies are listed.

Bitcoin(BTC)

Ethereum(ETH)

Binance coin(BNB)

Solana(SOL)

What is a Crypto Token?

A crypto token is a digital asset that indicates the complete ownership rights of specific physical or digital products. Token holders can easily transfer ownership rights to a particular person through the exchange of tokens with the support of blockchain networks.

Mention the Difference between Cryptocurrency and Crypto Token

1. Purpose

Cryptocurrency: The main purpose of using digital currencies for business transactions, investments, and store of value, etc. 

Crypto Token: The token can be used for multiple purposes, like representing particular assets, service access, governance rights or rewards, etc.

2. Native Blockchain

Cryptocurrency: Digital currencies can be created and operate only on independent blockchain networks. For eg: If you need to create an Ethereum coin, you have to use only Ethereum blockchain networks.

Crypto Token: Crypto tokens can be created on any existing blockchain network using smart contracts. For example, most of the digital tokens will be created on the Ethereum blockchain network, and the basic standards will be ERC20 or ERC721.

3. Integration 

Cryptocurrency: Digital currencies can be integrated into wallets, exchanges, Defi platforms, and other services as a form of money. 

Crypto Token: Tokens can be integrated into specialized services, such as utility, governance, security, stablecoins, NFTs, and dApp integration, within designated platforms and applications. 

List the Popular Blockchain Networks for Developing Tokens 

Ethereum

Tron

BNB Chain

Arbitrum

Polygon

Explore the Elite Features of Crypto Tokens

Every exclusive feature will make the token's functionalities more special and unique.

Partial Ownership: These tokens help the users hold partial ownership of assets and also allow investors to have a small portion of valuable assets such as stocks, real estate, or artwork. 

Interoperability: Crypto tokens are crafted to function across multiple devices and various blockchain platforms. This feature allows tokens to be used in different Dapps and crypto ecosystems.

High Security: Most advanced security features are incorporated into the platform to reduce fraudulent activities and protect the user's personal information. It will also help to increase trust and hope among the users.

Decentralized Governance: This feature provides voting rights to token holders, enabling them to make proposals for project-related topics. These may include fund distributions, protocol updates, governance structure modifications, and other important decisions.

Benefits of Using Crypto Token Development Services

Major benefits are available by using crypto token development services. Here is the list of perks.

World Wide Access: Crypto tokens help businesses reach global customers. It will eliminate cross-border restrictions like the traditional financial system, and anyone can engage with the support of internet access.

Transparency: Blockchain technology offers a decentralized, transparent ledger in which network users permanently record and verify each transaction.

Low Transaction Cost: Transaction costs are much lower for every crypto token exchange when compared to traditional payment methods, particularly for cross-border transactions.

Enhanced Liquidity: Adding cryptocurrency tokens to a business has many perks, one of which is liquidity enhancement. This benefit is mainly because trading crypto tokens on several cryptocurrency exchanges create more liquidity in the constantly shifting market environment.

Crowdfunding: By using token sales, such as initial coin offerings, or ICOs, as a crowdfunding tool, entrepreneurs can raise money from a wide range of investors worldwide.

 How to Launch a Crypto Token?

The basic procedure for token launches is mentioned below.

1. The initial step in the token launch is to consult with experts about the ideas and concepts of the token. The various factors need to be decided and documented, like technological aspects, utility, and tokenomics.

2. After the creation of a token concept, the process is now moving on to the development stage. Most of the companies will use these two processes, mostly

Type 1: Read-made Way

Developers can use the token-minting platform to craft a new token.

After picking the token minting software, enter the necessary details needed to create tokens, like token standards, token name, token value maximum per limit, etc.

Type 2: Hardcore Way

Use the classic method, and start to write code by using a suitable programming language.

Write a smart contract that includes essential information about tokens like standards, names, limits, etc.

Then, test the smart contract using various testing methodologies and resolve the queries.

3. Once the token is developed, it will move on to the listing and promotion stage. Use the various strategies and collaborate with the exchange platform and liquidity provider to raise awareness about the token.

4. After that, the token will be implemented to the public through a fundraising campaign or sale on various crypto exchange platforms. 

Conclusion

Finally, we arrived at the final part of the session. I hope you got the idea about the crypto tokens and how they are developing on the blockchain networks. Entrepreneurs need to know and understand at least the basic token development process. If you are new to the crypto business and need to craft high-end tokens, you can approach MetaDiac. We are a trustworthy crypto token development company in this crypto era. We specialize in designing tokens per the client's requirements and expectations at an affordable price within a fixed schedule. Please connect with us for more details.

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