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How to create an ERC token without coding, explained

Sarah Jansen(https://cointelegraph.com/authors/sarah-jansen) FEB 10, 2022

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 What is the difference between
1. a token and a coin? 1. What is the difference between a token and a coin?
What can cryptocurrency tokens While coins exist on their own blockchain, multiple tokens can be created on an existing chai
2. do? saving the developer time and money.

3. Why should I create a token?
Why is Ethereum considered to
4. be the best platform for token
creation?
5. How can users create a token?
At a foundational level, coins and tokens offer some similarities in representing value an
enabling payment processing: coins can be swapped for tokens, with the reverse als
holding true. Where differences become apparent is in their utility. Most cryptocurrenc
coins typically operate as a native coin on the blockchain as a store of value, while token
typically exist for use on a decentralized application (https://cointelegraph.com/defi
101/what-are-dapps-everything-there-is-to-know-about-decentralized-applications) (DApp
Since tokens are created on existing blockchains, many project tokens may exist within th
same ecosystem, most of which can be migrated as needs change.

Differences extend further into development, where users looking to create a coin will nee
to copy an entire blockchain. In contrast, those looking at token development will start wit
creating a smart contract. The benefit is that since the developer doesn't need to spen
time deploying their own blockchain and ensuring it's secure, and can therefore save tim
and resources.

2. What can cryptocurrency tokens do?

Cryptocurrency tokens can hold value like a coin or provide added utility through fundraising
voting (or governance), points for a loyalty program or as a part of a charity program.

Cryptocurrency tokens can vary in usage; while some exist as an investment vehicle lik
Dogecoin (DOGE (https://cointelegraph.com/doge-price-index)), others allow users t
exchange between tokens on platforms like Ethereum (ETH
(https://cointelegraph.com/ethereum-price)). Other tokens can be used as a fundraisin
opportunity for a new product or service your team might decide to offer. In parallel to a
initial public offering, releasing a token can be done through an Initial Coin Offering or ICO
with cryptocurrency tokens. Other use cases include representation as shares in
company, definition for proof of ownership, a ticket for entrance or usage of a DApp,
voting tool, a component of a loyalty program or being deployed as a part of a charit
fundraising.

3. Why should I create a token?

Tokenization has become the standard for organizations and teams considering fundraisin
opportunities or creating more active communities.

Tokenization (https://cointelegraph.com/explained/tokenization-explained) is becoming a

increasingly popular concept, referring to assigning a token to anything of value in the rea
world. With many businesses, teams and individuals already looking to digitize the
offerings for simplified transactions, tokens are likely to become a global standard fo
conducting transactions. In addition to remaining ahead of the curve, tokens themselve
offer users several benefits, including the ability to incentivize users to participate mor
actively in a given decentralized finance (DeFi) project. Whether this is a business or
cause, token holders can easily buy into a mission that aligns with their own goals and ear
rewards in response to their involvement.
 Why is Ethereum considered to be the best platform for
4.
token creation?
Ethereum remains at the forefront of DeFi, giving users access to a growing community wit
diverse functionality. 

To date, Ethereum and Solana (SOL (https://cointelegraph.com/solana-price-index

continue to be the most popular blockchains depending on a user's needs. That said, th
ERC-20 standard on Ethereum has remained the dominant pathway for creating new
tokens since the beginning, making it the primary choice for crowdfunding and ICO us
cases. The standard itself provides a simple interface, with the ability to be used o
multiple applications. As a leader in DApp development and an ecosystem to many wel
known platforms, Ethereum continues to be at the forefront of DeFi, making it a clea
choice with extensive documentation for those creating their first token.

5. How can users create a token?

Creating a token requires deploying a smart contract which is simplified with modern platform
that enable users to fill in details of their proposed token without coding or technical knowledge

Traditionally, creating a token would require a creator to outline token properties, includin
the supply, name, and number of auxiliary functions. This step would be followed b
deploying a smart contract, QA testing and blockchain deployment. While users woul
traditionally require a basic understanding of coding, newer platforms simplify the proces
to enable anyone to deploy a token of their own.

One of these platforms is Student Coin Terminal (https://terminal.studentcoin.org/) whic

allows users to create a custom ERC-20 token. Users can start the token creation process b
connecting their Ethereum wallet (selecting between Wallet Connect or MetaMask) o
create one by selecting the “Get wallet” button. They will then need to add enough funds t
pay for contract deployment and set up their tokens. With the foundation in place, user
can set up their tokens through a simplified format, enabling users to complete a basi
form. 

With modern platforms like Student Coin, any user can create a token of their own despit
having limited or no technical knowledge.

Learn more about Student Coin (https://terminal.studentcoin.org/) Terminal

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with a
important information that we could obtain, readers should do their own research before taking any actions related t
the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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