#erc-20

[albertpeter]

What Are the Most Effective Approaches for ERC-20 Token Development Services?

ERC-20 tokens have become a cornerstone of the Ethereum ecosystem, empowering a vast array of decentralized applications (dApps) and initial coin offerings (ICOs). Their compatibility with Ethereum’s blockchain and their standardized protocol make them highly attractive for developers and investors alike. However, creating an ERC-20 token that stands out and meets all objectives requires a well-thought-out approach. This blog delves into the most effective strategies for ERC-20 token development, highlighting key considerations and best practices.

Understanding ERC-20 Tokens

ERC-20 is a technical standard used for smart contracts on the Ethereum blockchain. It defines a common list of rules that all Ethereum tokens must follow, including how they are transferred and how transactions are approved. This standardization simplifies the development process and ensures compatibility across different platforms and wallets. Before diving into development strategies, it's crucial to understand these core principles.

1. Define Clear Objectives and Use Cases

Identifying the Purpose

Before development begins, it is essential to clearly define the purpose of the token. Whether it’s for a utility token, security token, or asset-backed token, each use case has distinct requirements. Establishing clear objectives helps in designing a token that aligns with its intended function and audience.

Target Audience and Market Research

Conduct thorough market research to identify the target audience and their needs. Understanding your audience’s preferences and pain points can guide the design and functionality of your token. This research will also help in differentiating your token from competitors.

2. Choose the Right Development Tools

Development Frameworks and Libraries

Selecting appropriate development tools is crucial for efficient and secure ERC-20 token creation. Some popular frameworks and libraries include:

OpenZeppelin: Provides a suite of modular, reusable, and secure smart contracts. Its ERC-20 implementation is widely trusted.

Truffle Suite: A development environment, testing framework, and asset pipeline for Ethereum.

Hardhat: A robust Ethereum development environment that includes a local blockchain for testing.

Using these tools can streamline the development process and enhance the security of your token.

3. Prioritize Security in Smart Contract Development

Code Review and Audits

Security is paramount when developing ERC-20 tokens. Smart contracts are immutable once deployed, so rigorous testing and code reviews are necessary to identify vulnerabilities. Engage third-party security experts to conduct comprehensive audits of your smart contract code. This helps in discovering potential issues such as reentrancy attacks, integer overflows, and other common vulnerabilities.

Best Practices for Security

Adhere to best practices for smart contract development, including:

Use Libraries: Leverage well-tested libraries like OpenZeppelin to minimize errors.

Minimize Code Complexity: Keep the smart contract code as simple and modular as possible.

Implement Thorough Testing: Conduct unit tests, integration tests, and scenario testing to ensure robustness.

4. Ensure Compliance with Regulatory Standards

Legal and Regulatory Considerations

Compliance with regulatory standards is critical for the successful deployment of ERC-20 tokens. Different jurisdictions have varying regulations regarding digital assets. Ensure that your token complies with relevant laws and regulations, such as anti-money laundering (AML) and know your customer (KYC) requirements.

Token Classification

Determine whether your token is a security token or a utility token, as this will influence its regulatory treatment. Consulting with legal experts can help navigate the complex regulatory landscape and avoid potential legal issues.

5. Optimize Tokenomics for Success

Token Supply and Distribution

Design a clear and transparent tokenomics model that outlines the total supply, allocation, and distribution of your token. Consider factors such as:

Initial Supply: Decide on the initial number of tokens to be minted.

Vesting Periods: Implement vesting schedules for team members and advisors to align their interests with the long-term success of the project.

Burn Mechanisms: Introduce mechanisms for burning tokens to manage supply and increase value.

Incentive Structures

Create incentive structures to drive engagement and usage of your token. This might include reward mechanisms for early adopters, staking options, or governance rights that empower token holders to participate in decision-making.

6. Plan for Scalability and Future Upgrades

Scalability Considerations

Ensure that your token is designed with scalability in mind. Ethereum’s network can experience congestion, leading to higher transaction fees and slower processing times. Explore Layer 2 solutions or sidechains to enhance scalability and improve transaction efficiency.

Upgradeability

Design your smart contract with future upgrades in mind. Implement proxy patterns or upgradeable smart contracts to facilitate changes and improvements without deploying a new contract. This ensures that your token remains relevant and adaptable to evolving requirements.

7. Focus on User Experience

Wallet and Exchange Compatibility

Ensure that your ERC-20 token is compatible with popular Ethereum wallets and exchanges. This facilitates ease of use for token holders and encourages widespread adoption.

Clear Documentation

Provide comprehensive documentation and guides for users and developers. Clear documentation helps users understand how to interact with your token and developers integrate it into their applications.

8. Engage in Effective Marketing and Community Building

Marketing Strategies

Develop a robust marketing strategy to promote your ERC-20 token. Utilize various channels such as social media, content marketing, and influencer partnerships to raise awareness and generate interest.

Community Engagement

Build and nurture a community around your token. Engage with your audience through forums, social media platforms, and community events. A strong, engaged community can significantly enhance the success of your token.

Conclusion

Effective ERC-20 token development requires a multifaceted approach that encompasses clear objectives, security, compliance, tokenomics, scalability, and user experience. By following these best practices and leveraging the right tools, you can create a robust and successful ERC-20 token that meets the needs of your target audience and stands out in the competitive landscape. As the Ethereum ecosystem continues to evolve, staying informed and adaptable will be key to achieving long-term success in token development.

[simplyfy9]

Erc-20: The Backbone Of Ethereum’s Token Ecosystem by simplyfy

Leading the charge in blockchain innovation is ERC-20 (Ethereum Request for Comment 20), a significant addition to the Ethereum blockchain. It has already been applied to producing fungible tokens on the layer-1 layer, which not only allows the development of decentralized applications but also digital assets as well. The ERC-20 technology was a paragon of the Ethereum ecosystem expansion by being a way of issuing tokens that could circulate and be used among the different DApps or utilities. Look forward to seeing us as we deal with the impact of and the way ERC-20 tokens are playing in the world of blockchain technology!

https://simplyfynews.com/understanding-erc-20ethereum-token-ecosystem/

[dencyemily]

Strategic Maneuver or Market Play? Whale Snags $2.84 Million in SHIB Tokens

The Shiba Inu (SHIB) token has caught the attention of the cryptocurrency community as a major whale, identified by the wallet address "0xEa74," recently acquired an astounding 293 billion SHIB tokens. This significant acquisition, amounting to $2.84 million within the last 24 hours, has stirred speculation about potential strategic maneuvers by an unknown player.

Etherscan reports indicate that the SHIB tokens were transferred from another address, "0x5aA," to the wallet of the mysterious whale. The recipient wallet is a newcomer in the crypto scene, showing no prior transactions and currently holding only SHIB tokens. The community is now eagerly watching to discern the intentions and future actions of this address, as it stands as an unprecedented inflow of SHIB in recent times.

The SHIB token team took to the X platform to share their excitement about the project's journey since its inception. Alongside this, the team introduced their new venture, the DN404 standard, an innovative protocol that integrates ERC-20 and ERC-721 features, creating a hybrid token model.

The DN404 standard introduces fractionalization of NFTs, enhancing liquidity within the NFT ecosystem. This groundbreaking approach promises lower transaction fees for trading these assets, contributing to a more efficient and cost-effective NFT marketplace.

Despite a minor dip of 1.22% in the last 24 hours, SHIB's market presence remains robust, with a trading volume of $136,627,574. The token's value is currently at $0.000010, emphasizing its continued significance within the crypto market.

As the cryptocurrency community awaits further developments, the unexpected whale activity and the SHIB team's innovative strides showcase the ecosystem's resilience and adaptability. The unfolding events will provide insights into the mysterious whale's intentions and the potential impact on SHIB's trajectory in the coming days.

[kryptomunze]

📢 Ankündigung des Chainflip Community Sale auf CoinList 🚀

Chainflip Community Sale auf CoinList

Wir freuen uns, bekannt zu geben, dass die Registrierung für den Chainflip Community Sale jetzt geöffnet ist. Chainflip ist ein dezentrales, vertrauensloses Protokoll, das nahtlosen Wertetransfer zwischen beliebigen Blockchains ermöglicht - einschließlich BTC, EVM und Substrate-Netzwerken. Mit Chainflips Just-in-Time (JIT) Automated Market Maker (AMM) können Benutzer Assets zwischen Ketten tauschen, ohne Tokens umzuwickeln, eine traditionelle Cross-Chain-Brücke zu verwenden oder eine zentralisierte Börse zu nutzen. Der JIT AMM greift auf Liquidität von den verbundenen Ketten und Partner-Aggregatoren zu, um Benutzern genaue, wettbewerbsfähige Preise und geringe Gebühren für Spot-Trades zu bieten. Der Verkauf beginnt am 31. August 2023 um 17:00 UTC und hat eine öffentliche Option: 🔹 Gesamtmenge: 4.500.000 FLIP-Token (ERC-20) 🔹 Preis: 1,83 $ pro Token 🔹 Sperrfrist & Freigabe: 100% Freigabe zum TGE bei Mainnet-Start, voraussichtlich am oder um den 24. Oktober 2023 (Datum kann sich bis zu maximal 120 Tage nach Verkaufsschluss ändern) 🔹 Anfangskaufgrenzen: Mindestens 100 $, maximal 4.000 $ 🔹 Registrierungen enden am 28. August 2023 um 12:00 UTC. Erinnerung: Um am Chainflip Community Sale teilnehmen zu können, müssen Sie Ihr CoinList-Wallet vor der Registrierungsfrist (28. August um 12:00 UTC) mit dem Mindestkaufbetrag von 100 $ aufgeladen haben. Chainflip Community Sale auf CoinList Zusätzlich muss Ihr CoinList-Konto vor dem Abschluss einer Transaktion im Chainflip Community Sale vollständig mit Ihrem gewünschten Kaufbetrag aufgeladen sein. Das bedeutet, dass Benutzer sicherstellen müssen, dass ihre Wallets vor dem Verkaufsstart am 31. August um 17:00 UTC mit dem beabsichtigten Kaufbetrag aufgeladen sind. Es wird nach Abschluss des Verkaufs keine weitere Frist für den Erstkäufe geben. Weitere Informationen finden Sie in diesem Blog-Beitrag. Die effiziente Cross-Chain-Swap-Technologie Chainflip hat eine mutige Mission: die zentralisierte Börse zu verdrängen. Anstatt eine weitere Brücke zu schaffen, hebt sich Chainflip durch die Integration der besten Aspekte bestehender Cross-Chain-Lösungen ab und führt einzigartige Optimierungen ein, die derzeit in keiner anderen Plattform vorhanden sind. Dadurch befähigt das Protokoll Chainflip, sowohl On- als auch Off-Chain-Spot-Märkte zu nutzen, neue Blockchain-Typen zu unterstützen und den Benutzern ein beispielloses und bahnbrechendes Erlebnis zu bieten. 💡 150 Hauptvalidatoren und skalierbarer Signaturalgorithmus: Ein wirklich dezentrales Cross-Chain-Netzwerk erfordert eine große Validatorengruppe für Redundanz, Sicherheit und Anti-Zensur. Chainflip verwendet bis zu 150 Validatoren pro Vault. Dieser Ansatz übertrifft vergleichbare Cross-Chain-Systeme in Bezug auf geteilte wirtschaftliche Sicherheit. Zusätzlich ermöglicht der Einsatz von Schnorr-Signaturen und einem innovativen Signaturverfahren diesen 150 Validatoren, zahlreiche Assets und mehrere parallele Signaturzeremonien zu unterstützen, ohne hohe Hardwarekosten zu verursachen. 💡 Neue JIT AMM-Design für Kapitaleffizienz: Chainflips JIT (Just-In-Time) AMM-Design bewältigt Cross-Chain-Herausforderungen, indem es Slippage minimiert und präzise Preisgestaltung bietet. Es nutzt Liquidität effizient für große Trades und fungiert als dezentraler Aggregator über alle Märkte hinweg. Dadurch wird Chainflip zu einem offenen und transparenten dezentralen OTC-Service, der oft andere Cross-Chain-Services in Bezug auf den Preis übertrifft. 💡 Generalisierte Cross-Chain-Fähigkeit: Bietet Benutzern eine permissionless Methode, Assets zwischen beliebigen Ketten und Netzwerken (L1, L2, etc.) zu tauschen, ohne neue gewickelte Assets einzuführen, Liquiditätsfragmentierung zu verursachen, Benutzern ein Risiko zu hinterlassen oder lange Bestätigungszeiten zu haben. Der Chainflip Community Sale ist eine aufregende Gelegenheit, Teil dieser innovativen Cross-Chain-Revolution zu werden! Registrieren Sie sich rechtzeitig auf CoinList, um Ihre Chance nicht zu verpassen. Verbreiten Sie die Nachricht und lassen Sie uns gemeinsam die Welt der Blockchain revolutionieren! 🌐🚀 Hinweis: Alle genannten Termine und Informationen können sich bis zum Zeitpunkt des Verkaufs ändern. Bitte halten Sie sich auf dem Laufenden, um keine wichtigen Updates zu verpassen. Happy Trading! 🤝💱 - Solidity - Krypto Newsletter - Technische Analyse - Twitter - LinkedIN - Akademie für Kryptoanalyse Read the full article

[kriptoradar]

Ön Satış : Chainflip Topluluk Satışı

Chainflip Topluluk Satışı

Haberimiz var! Değerli kripto topluluğu, heyecanla duyuruyoruz: Chainflip Topluluk Satışı için kayıtlar şimdi başladı! 💥 Chainflip, merkeziyetsiz ve güvensiz bir protokol olarak karşımıza çıkıyor ve BTC, EVM ve alt zincir ağlar da dahil olmak üzere herhangi bir blok zinciri arasında sorunsuz bir şekilde değer transferine olanak tanıyor. 🌐 Chainflip'in Just-in-Time (JIT) Otomatik Piyasa Yapıcısı (AMM) sayesinde kullanıcılar, tokenları sarmadan, geleneksel çapraz zincir köprülerini kullanmadan veya merkezi bir borsa aracılığıyla geçiş yapmadan zincirler arasında varlık takas edebiliyor. JIT AMM, bağlı olduğu zincirlerden ve ortak agregatörlerden likiditeye erişim sağlayarak kullanıcılara doğru, rekabetçi fiyatlar ve düşük işlem ücretleri sunuyor. 💱 💰 Satış tarihi: 31 Ağustos 2023, saat 17:00 UTC 💸 Arz: 4.500.000 FLIP token (ERC-20) 💲 Fiyat: Token başına 1,83 dolar 🔒 Kilit ve serbest bırakma: Satıştan sonra en fazla 120 gün boyunca değişebilecek olan ana ağ başlangıcında 0 açılacak (beklenen tarih: 24 Ekim 2023) 📈 İlk alım sınırı: Minimum 100 dolar, maksimum 4.000 dolar 📅 Kayıtlar kapanış tarihi: 28 Ağustos 2023, saat 12:00 UTC. Hatırlatma: Chainflip Topluluk Satışı'na katılmak için CoinList Cüzdanınızı kayıt son tarihine kadar (28 Ağustos, saat 12:00 UTC) en az alım miktarı (100 dolar) ile finanse etmeniz gerekecek. Ayrıca, satış başlamadan önce CoinList hesabınızın istediğiniz satın alma miktarıyla tamamen finanse edilmiş olması gerekiyor. Bu, kullanıcıların satış sonrasında ilk alımları için finansman süresinin olmayacağı anlamına geliyor. Daha fazla bilgi için lütfen bu blog gönderisine göz atın. 🔗 Verimli çapraz zincir takas protokolü Chainflip'in cesur misyonu, merkezi borsaları ortadan kaldırmak! Bu platform, mevcut çapraz zincir çözümlerinin en iyi yönlerini entegre ederken diğer platformlarda bulunmayan benzersiz optimizasyonlar da sunuyor. Bu sayede Chainflip, hem zincir dışı hem de zincir içi spot piyasalardan yararlanabilir, yeni blok zinciri türlerini destekler ve kullanıcılara eşsiz ve oyun değiştiren bir deneyim sunar. 👑 150 Ana Doğrulayıcı ve Ölçeklenebilir İmza Algoritması: Gerçekten merkezi olmayan bir çapraz zincir ağı, yedeklilik, güvenlik ve sansür önleme için geniş bir doğrulayıcı kümesine ihtiyaç duyar. Chainflip, her bir kasa için 150 doğrulayıcı kullanıyor. Bu yaklaşım, benzer çapraz zincir sistemlerinin paylaşılan ekonomik güvenliği açısından önünde bulunuyor. Ayrıca, Chainflip'in Schnorr imzalarını ve yenilikçi bir imzalama düzenini kullanması, bu 150 doğrulayıcının aşırı donanım maliyetleri olmadan birçok varlık ve çoklu paralel imza törenini desteklemesine olanak tanır. ��️ Yenilikçi JIT AMM Tasarımı ve Sermaye Verimliliği: Chainflip'in JIT (Just-In-Time) AMM tasarımı, çapraz zincir zorluklarını minimumda tutarak kayma ve hassas fiyatlandırma sunuyor. Büyük işlemler için likiditeyi verimli bir şekilde kullanarak tüm piyasalarda merkezi olmayan bir toplayıcı gibi çalışıyor. Bu, Chainflip'i diğer çapraz zincir hizmetlerine göre fiyat konusunda genellikle önde olan açık ve şeffaf bir merkezi olmayan tezgahüstü (OTC) hizmetine benzer kılıyor. 🔄 Genel Çapraz Zincir Yeteneği: Kullanıcılara, yeni sarılmış varlıklar, likidite parçalanması veya fazla onay süreleri getirmeden keyfi zincirler ve ağlar (L1, L2 vb.) arasında varlık takas etmek için izin verir. 🌐 Bunlara Mutlaka Göz Atın! - Kripto Kariyer - Kripto Rehberler - Kripto Pazarlama - KriptoCAST - Youtube Videoları - Ücretsiz Teknik Analiz Eğitimi Read the full article

[cryptoschmypto]

Dai (DAI): A DeFi Stablecoin The Crypto World

What is Dai (DAI)? Dai (DAI) is an ERC-20 token built on the Ethereum blockchain and is pegged to the US dollar, maintaining a 1:1 ratio. It is an algorithmic stablecoin that achieves price stability through a system of smart contracts and decentralized autonomous organization (DAO) governance. The importance of Dai stems from its ability to provide a stable store of value in the inherently…

[kripto-parahaber]

Shıba Inu son dakika: Shibarium çapraz işlem köprüsü beta sürümüne başladı!

Sosyal medyada Lucie olarak bilinen SHIB pazarlama uzmanı, Shiba Inu ekibinin nihayet halka açık testler için bir Shibarium Köprüsü beta sürümü yayınladığını duyurdu. Ethereum ağıyla etkileşim için Shibarium üzerine inşa edilen köprü ilk kez nisan ayı sonunda duyurulmuştu ve o zaman sadece kısmen işlevseldi. 🔥 Shibarium Beta Bridge has gone live for public testing! 🎉 Be among the first to try…

[full2njoy]

What is ZKSync And How To Be Eligible For ZKSync Airdrops

ZkSync is an Ethereum layer 2 scaling solution that enables quick, inexpensive, and safe transactions. It keeps the security and trustlessness of the Ethereum network while enabling high-throughput, low-latency interactions through the use of zero-knowledge proofs. Transactions in ZkSync are processed off-chain and then transmitted in batches to the Ethereum network, reducing congestion and…

[crypto101bylauriesuarez]

$RENTMY the new token with a purpose.

RentMy is a blockchain-based platform that aims to revolutionize the short-term rental market by providing a decentralized, secure, and transparent ecosystem. The platform's native cryptocurrency is called RENTMY token, which serves as the main medium of exchange within the ecosystem and provides a range of benefits to its holders.

What is RENTMY Token?

RENTMY token is an ERC-20 utility token that powers the RentMy ecosystem. It is designed to be used as a medium of exchange for all transactions within the RentMy platform. The token can be used to pay for rental bookings, listing fees, and other services provided by the platform, but more importantly taking on affordable housing project, getting people off the streets and into their own rental homes. 

The RentMy platform is built on the Ethereum blockchain, which means that RENTMY token is fully compatible with all Ethereum wallets and can be stored in any ERC-20 compatible wallet.

Benefits of RENTMY Token

1. Lower transaction fees: RENTMY token holders will enjoy lower transaction fees when using the RentMy platform. This is because the platform incentivizes users to use RENTMY token for transactions by offering discounts and other benefits.

2. Discounts on rental bookings: Users who hold a certain amount of RENTMY tokens will receive discounts on rental bookings made through the RentMy platform.

3. Staking rewards: RENTMY token holders can stake their tokens and earn rewards in the form of additional RENTMY tokens. The platform rewards users who stake their tokens with additional RENTMY tokens, which encourages long-term holding of the token.

4. Governance: RENTMY token holders will have a say in the development and governance of the RentMy platform. They will be able to vote on proposals and decisions related to the platform's development and management.

5. Liquidity: RENTMY token will be listed on major cryptocurrency exchanges, which will provide liquidity and enable users to easily buy and sell the token.

Conclusion

RENTMY token is an important component of the RentMy ecosystem, providing numerous benefits to its holders. As the platform grows and gains more users, the demand for RENTMY token is likely to increase, driving up its value. With its unique features and benefits, RENTMY token is poised to become a major player in the short-term rental market. The token is live on Uniswap and Dextools.io

[albertpeter]

What Are the Key Skills and Expertise of Top ERC-20 Token Development Companies in 2024?

In the rapidly evolving landscape of cryptocurrency and blockchain technology, ERC-20 tokens have emerged as a popular choice for creating digital assets on the Ethereum blockchain. As the demand for ERC-20 tokens continues to grow, so does the need for expert token development companies that can deliver high-quality solutions. In this article, we'll explore the key skills and expertise of top ERC-20 token development companies in 2024.

Deep Understanding of Ethereum Blockchain: Top ERC-20 token development companies have a thorough understanding of the Ethereum blockchain and its underlying technology. They are well-versed in Ethereum's smart contract programming language, Solidity, and can develop secure and efficient smart contracts for ERC-20 tokens.

Expertise in Token Standards: ERC-20 is just one of the many token standards on the Ethereum blockchain. Top token development companies are familiar with other standards like ERC-721 (for non-fungible tokens) and ERC-1155 (for semi-fungible tokens) and can advise clients on the best standard for their specific use case.

Security and Auditing: Security is paramount in the world of blockchain, and top ERC-20 token development companies prioritize security at every stage of token development. They conduct thorough security audits to identify and fix vulnerabilities in smart contracts, ensuring that tokens are safe from hacks and exploits.

Scalability and Performance: As the Ethereum network continues to face challenges with scalability and high transaction fees, top token development companies are exploring solutions to improve the performance of ERC-20 tokens. They may use techniques like layer 2 scaling solutions or migrate tokens to other blockchains if necessary.

Compliance and Regulation: With the increasing focus on regulatory compliance in the cryptocurrency space, top token development companies have a strong understanding of relevant laws and regulations. They ensure that ERC-20 tokens comply with applicable regulations, including know-your-customer (KYC) and anti-money laundering (AML) requirements.

Token Economics and Design: Top token development companies understand the importance of token economics and design in the success of a project. They can help clients create tokens with well-thought-out economics that incentivize desired behavior and contribute to the overall value of the token ecosystem.

Community Engagement: Building a strong community around an ERC-20 token is crucial for its success. Top token development companies have experience in community engagement strategies, including airdrops, bounty programs, and social media marketing, to help tokens gain traction and adoption.

Experience and Track Record: Finally, top ERC-20 token development companies have a proven track record of delivering successful token projects. They have worked with a variety of clients across different industries and can provide references and case studies to showcase their expertise.

Conclusion

Top ERC-20 token development companies in 2024 possess a diverse set of skills and expertise that are essential for creating successful token projects. From deep technical knowledge to a strong focus on security, compliance, and community engagement, these companies are well-equipped to meet the growing demand for ERC-20 tokens in the blockchain ecosystem.

[blockchainxtech]

What is the difference between an ERC-20 and BEP-20 token?

Two of the most common currencies and the standards of the two largest blockchains in the world have a lot in common.

One of the main drivers for the creation of Ethereum, and its subsequent popularity, are the efforts of its developers, such as Vitalik Buterin and Fabian Vogelsteller, who seek to solve the scalability problems with Bitcoin, as well as make interaction with the blockchain accessible. and flexible.

To improve the effectiveness of their chains and the programming process for developers, the two biggest blockchains in the world — Ethereum and Binance Smart Chain — have adopted token guidelines.

Blockchains

Now, in blockchains, there are standard token types and programming schemes that help guide and facilitate the creation of smart contracts without having to rewrite an entire contract from scratch.

An ERC or a BEP are proposals that can become programming standards that ensure new tokens perform basic functions like address retrieval, operability with different wallets, and more.

They are basically flat to help build a token.

These standards come in place of code names like ERC-20, BEP-2, or BEP-20.

Other proposals on different chains can also affect the function of a network, but technical improvements, such as the EIP or BIP, Ethereum, and Bitcoin improvement proposals, respectively, are not the same.

The ERC or BEP standards are a checklist to be used when writing a smart contract rather than software to install.

In this article, we will describe two of the most common token standards across all of crypto and decentralized finance (DeFi): ERC-20 and BEP-20.

The latter is very much a compatible reproduction of the former, each with equal power in their respective chains.

What is the ERC-20 token?

If you bought an NFT or traded a token on Ethereum, you most likely interacted with an ERC-20 token.

These tokens are the standard for most tokens on the Ethereum network. They are easy to use (developers say!), and the flexibility of the code allows for a large number of use cases.

The ERC-20 did not start out as a grand theory. According to Vogelsteller, the idea came from a simple proposal by a few coders looking to synthesize tasks and make token production intuitive.

The ERC-20, created in 2015, is a foundation to help blockchain developers and programmers make their tokens interoperable on the Ethereum chain.

One of the most critical aspects

One of the most critical aspects of the ERC-20 is flexibility. It allows tokens and other software to integrate the same standard to facilitate faster, more effective, and global transactions.

Following these ERC-20 standards keeps protocols aligned with core functions while granting the ability to capitalize on the openness available in Ethereum.

The ERC-20 is listed with six key features that remain consistent.

In “code language,” they are effectively known: balanceOf, total supply, transfer, transferFrom, approval, and allocation.

For the layman, these actions allow you to view account token balances, view total token supply details, show how a user submits a token, and enable auto-send on behalf of the owner, and more.

The standard can be used to develop a variety of different tokens.

From the creation of the most common stablecoins to non-fungible tokens and DeFi assets, the ERC-20 is one of the backbones of all cryptocurrencies.

The original ERC-20 is an important milestone in the history of cryptocurrencies and the blockchain.

It helped a large number of users realize the enormous potential of Ethereum and opened the doors for more networks and blockchains to do the same.

Young and emerging developers can focus their energy on creating new protocols.

A nod to the incredible flexibility of the ERC-20 is the ease with which the standard and scheme can be replicated on a new blockchain like Binance Smart Chain.

What is the BEP-20?

Binance Smart Chain was originally envisioned as an alternative to Ethereum, and compatibility runs deep. The ERC-20 standard was expanded to include the BEP-20 token for the Binance Smart Chain.

The BEP-20 Development Company on the Binance Smart Chain offers programmers and developers the same freedom as the ERC-20 on Ethereum. It provides a developer-friendly framework to assist with the introduction of tokens of all kinds on the Binance Smart Chain.

Like its ERC-20 counterpart, the BEP-20 opens the doors to other software and services.

Unlike the ERC-20, however, the BEP-20 is also interoperable with its companion, the Binance BEP-20.

The two Binance standards, BEP-2 and BEP-20, for Binance Chain and Binance Smart Chain, respectively, are powered by BNB.

The two Binance tokens are compatible and complementary to each other.

BEP-20 and BEP-2 tokens can be traded equally. BEP-20, and the BSC network in general, act as the most decentralized networks in the Binance ecosystem.

The fact that ERC-20 and BEP-20 tokens are not really traded anywhere should not be forgotten. To guarantee that tokens are properly traded, users will require an appropriate asset bridge.

Today, many wallets and exchanges, such as Trust Wallet, MetaMask, and Binance Wallet, allow equal exchanges directly on their platforms.

Always make sure you are making the right trade, or you could lose your funds.

Not all platforms are interoperable. Coinbase is notably incompatible with BEP-20 tokens. Any BEP-20 token sent to a Coinbase wallet will be locked up until further notice.

The first standard tiles, but not the last

The ERC-20 remains the most popular standard token in DeFi. The monumental proposal shows that almost everything in crypto and DeFi should be open for discussion and debate.

The ERC-20 was the first, and it is only the beginning of many symbolic standards.

As Ethereum and Binance push for more deflationary mechanisms within their respective networks, we are sure we will see more innovation.

Both networks recently implemented new token metrics that will speed up changes to the separate networks, but the downstream effects of these implementations have yet to be seen.

These symbolic standards are likely just the beginning.

The capabilities of Ethereum, Binance, and the blockchain, in general, go well beyond the token capabilities seen in ERC-20 and BEP-20.

Each of them has proven to be enormously valuable and is a standard at this time. Simplicity was bold, but so was flexibility.

Hopefully, we continue to see new standards introduced and see that new blockchain standards can mimic the ERC-20 story and usher in new use cases.

Conclusion

In conclusion, the blockchain networks on which ERC-20 and BEP-20 coins are based represent the major distinction between them. While BEP-20 tokens run on the Binance Smart Chain (BSC), ERC-20 tokens run on the Ethereum blockchain.

The decision between ERC-20 and BEP-20 token generator ultimately comes down to a number of variables, including the intended ecosystem and user base, the preferred blockchain platform, development needs, and gas costs. Both token standards offer benefits and drawbacks, and the choice should be made in accordance with the particular requirements and objectives of the project or application.

[dencyemily]

DN404 Hybrid Tokens Take Center Stage as SHEboshis Launch Revolutionizes NFT Space

The SHEboshis collection pioneers the DN404 standard, merging ERC-20’s liquidity with ERC-721’s uniqueness in NFTs. Exclusive access and rewards await Shiboshi and $LEASH holders, enhancing community engagement and loyalty in the SHEboshis launch. SHEboshis’ integration into Ethereum and planned expansion to Shibarium highlight the project’s ambition for broader ecosystem connectivity. The Shib Army welcomes the arrival of SHEboshis, a new line of Non-Fungible Tokens (NFTs) that heralds a significant shift in the digital collectible landscape. These tokens embody a fusion of art, utility, and technological innovation, representing a leap forward in how the community perceives and interacts with digital assets. According to the official announcement, SHEboshis are not just an extension of the existing Shiboshi family; they are at the forefront of a movement towards more dynamic and inclusive forms of digital ownership.

SHEboshis stands out by adopting the DN404 standard, also referred to as ERC-404. This innovative approach combines the benefits of ERC-20 and ERC-721 standards, introducing liquidity and fractional ownership concepts to the NFT domain. The community behind this project emphasizes the experimental nature of SHEboshis, urging members to approach with understanding and caution. The initiative underlines the potential for new ownership models while acknowledging the risks inherent in pioneering technology.

For those holding Shiboshis, a simplified claim process has been outlined. A snapshot taken at block 19227900 determines eligibility, with each Shiboshi holder entitled to claim a corresponding SHEboshi within a 48-hour window, adjusted from the initial 72 hours due to a refined claim logic. This approach rewards the loyalty of Shiboshi enthusiasts, offering them a stake in this groundbreaking venture.

$LEASH token holders are not left behind in this exciting phase. Following the exclusive claim period for Shiboshi holders, those possessing any amount of $LEASH will gain privileged access to purchase the remaining SHEboshis for 24 hours. This phase precedes the public sale, where unclaimed SHEboshis become available to the broader audience, providing a unique opportunity for new participants to engage with the SHEboshi ecosystem.

The decision to mint SHEboshis on the Ethereum network underscores the project’s commitment to leveraging established platforms for optimal liquidity and accessibility. The SHEboshis will initially trade on Shibaswap and Uniswap, with plans to integrate into the Shibarium network, promising a more expansive and fluid trading environment.

Looking ahead, the SHEboshi initiative is poised to catalyze further innovations within the NFT space. Integrating Shiboshis and SHEboshis will unlock new possibilities, fostering a vibrant ecosystem where art, technology, and community converge.

[coinbeacon]

What is ERC-20? The Standard for Ethereum Tokens

[boopathi021]

What are ERC-20, ERC-721, ERC-1155? What is the difference?

ERC-20, ERC-721 and ERC-1155 are the three major protocols used on the Ethereum blockchain, or the three token standards that operate in the ecosystem. Create tokens corresponding to three different modes and usage functions. At present, Ethereum is the most used and most representative blockchain in the market, so the three protocols mentioned above are also the most widely used token standards. Each token standard has specific functions, which are introduced here in the order of development of the protocol.

Due to the rapid development of blockchain and various protocols, users and developers are not satisfied with the use of a single token, which in turn promotes the evolution of the three tokens. As the first token introduced in the Ethereum blockchain, ERC20 Development company ERC-20 is still used as a homogenized token for human transactions on Ethereum. Later, the system introduced a new token standard: ERC-721, the main The emergence of these token standards, which are used to create non-fungible tokens, and ERC-1155 in 2019, which is a mixture of the former two, has further contributed to the success of Ethereum so far.

The evolution of token standards ECR-20

The token standard ERC-20 was proposed in 2015, and was finally officially installed on Ethereum in 2017. In a decentralized ecosystem, this standard token standard is widely used for a variety of purposes. Since ERC-20 itself is a set of standards for regulating blockchain behavior, it is not only accepted by most individual users, but also quite popular by some organizations or institutions. It can be said that the ether under the ERC-20 specification, It is very beneficial for ICO, crowdfunding, stablecoin establishment and other activities on Ethereum.

To put it simply, if a token is based on the ERC-20 standard, its most important feature is the “homogenization” between tokens, for example, the 10 yuan coin in your hand and the 10 yuan in my wallet The money is the same as the coin, the value of both is exactly the same, and there is no particular problem with which coin is more special.

Generally speaking, ERC-20 homogenized tokens have two characteristics, which are fungibility and divisibility:

Substitutability: It means that each cryptocurrency has the same value and the same function. There is no difference between the ethers in the hands of different users. They can be exchanged with each other at will, and can be traded at a predetermined price. Divisibility: Unlike the fiat currency that we often use, the minimum unit when purchasing fiat currency is 1 yuan. Although cryptocurrencies use pieces or pieces as the unit, they do not need to be traded in integers. For example, when using ether to buy NFT, It can be traded with 0.08 ether, which is its divisibility.

ERC-721

Different from the former, ERC-721 aims to create non-fungible and indivisible tokens, that is, the familiar non-fungible token-NFT (Non-Fungible Token).

Irreplaceability: Each NFT has its uniqueness, it is unique and irreplaceable, and after it is also stored on the chain, it cannot be deleted at will.

Indivisible: Unless allowed by smart contracts, NFTs cannot be split into smaller shares for transactions like cryptocurrencies. So what can be created with ERC-721?

In fact, as long as an object can have special value, it is suitable to be created with this token standard, such as artistic creation, music, or the most common personal avatar and PFP. Generally speaking, there is no way to find another value that is completely correct. etc. ERC-721 tokens.

NFT can also be regarded as the ownership of a digital creation or asset. Unlike previous works of art, NFT, as a unique digital token, creators can continue to receive income in each transaction through royalties, even if The same goes for buyers and sellers without creator involvement.

ERC-1155

ERC-1155 is a multi-token standard, the full name is Multi Token Standard. The purpose of ERC-1155 is to reproduce, package or combine one or more Token Types or NFT Collections, so that Token Types or NFT Collections have functions such as inheritance, multi-type, and encapsulation.

For example, Xiaoming wants to buy a game’s hat + clothes + pants + shoes. In the past, the game could only let Xiaoming buy one by one, one transaction per transaction. With ERC-1155, the game project party can sell Xiaoming’s whole body The set is complete, and the four NFTs can also be called to Xiao Ming at one time.

The main function of this protocol is that the capacity of the blockchain is not unlimited, so it is necessary to prevent developers from developing unlimited smart contracts. The traditional object-oriented concept reduces the number of smart contract releases and improves development efficiency. The additional effect is to increase the user experience, allowing users to have rich choices such as suits and multi-type tokens.

ERC20 Development Services

[aiura-stan]

tbh i think it’s so funny that if Kusuo were real, he’d be a year older than me

[annabelledarcie]

Innovating with ERC-20: How to Create and Launch Your Own Token

The rise of blockchain technology has democratized innovation, providing tools and platforms that allow anyone with a vision to bring their ideas to life. One of the most significant innovations in this space is the ERC-20 token standard on the Ethereum blockchain. This guide will walk you through the process of creating and launching your own ERC-20 token, from initial conception to successful deployment.

Understanding ERC-20 Tokens

ERC-20 is a technical standard used for smart contracts on the Ethereum blockchain. It defines a set of rules that an Ethereum token must follow, ensuring compatibility with various platforms, wallets, and exchanges. The standardization of ERC-20 tokens has led to their widespread use in Initial Coin Offerings (ICOs), decentralized finance (DeFi), and various other blockchain applications.

Key Features of ERC-20 Tokens

Interoperability: ERC-20 tokens are compatible with most Ethereum-based applications and wallets.

Standard Functions: The ERC-20 standard includes functions like transfer, approve, and balanceOf, ensuring consistency across tokens.

Flexibility: ERC-20 tokens can be customized for different purposes, including utility tokens, security tokens, and stablecoins.

Step-by-Step Guide to Creating and Launching an ERC-20 Token

1. Define Your Token's Purpose

Before you start coding, it’s crucial to define the purpose of your token. Consider the following questions:

What problem does your token solve?

Who is your target audience?

What will be the utility of your token? (e.g., access to a platform, voting rights, etc.)

2. Design Your Token

Designing your token involves determining its fundamental attributes:

Name: Choose a unique and descriptive name for your token.

Symbol: Create a short, memorable symbol (e.g., ETH for Ethereum).

Decimals: Decide how divisible your token will be (usually 18 decimal places).

3. Develop the Smart Contract

The smart contract is the heart of your ERC-20 token. Here’s a high-level overview of the development process:

Set Up Your Development Environment: Tools like Remix IDE or development frameworks like Truffle and Hardhat can simplify the coding process.

Write the Smart Contract: Your smart contract should implement the ERC-20 interface. Below is a basic example written in Solidity:

pragma solidity ^0.8.0;

import "@openzeppelin/contracts/token/ERC20/ERC20.sol";

contract MyToken is ERC20 { constructor(uint256 initialSupply) ERC20("MyToken", "MTK") { _mint(msg.sender, initialSupply); } }

This contract sets the token name as “MyToken” and the symbol as “MTK,” and it mints an initial supply to the deployer's address.

Test the Contract: Thorough testing is essential to ensure your contract functions as intended. Use Ethereum testnets like Ropsten or Rinkeby for testing before deploying to the mainnet.

Audit the Contract: Consider having your contract audited by a security professional to identify and fix potential vulnerabilities.

4. Deploy the Smart Contract

Deploying your ERC-20 token involves several steps:

Fund Your Wallet: Ensure your wallet has enough ETH to cover gas fees for deployment.

Deploy the Contract: Use deployment tools or services to deploy your contract to the Ethereum mainnet. Tools like Remix, Truffle, or Hardhat can assist with this process.

5. Verify and Publish the Contract

After deployment, verify and publish your contract on blockchain explorers like Etherscan. This process involves uploading your contract’s source code and making it publicly available, which enhances transparency and trust.

6. Integrate with Wallets and Exchanges

To ensure your token is usable, integrate it with popular Ethereum wallets (e.g., MetaMask) and exchanges. Provide the necessary details for listing on decentralized exchanges (DEXs) and centralized exchanges (CEXs).

7. Promote Your Token

Marketing is crucial for the success of your token. Develop a comprehensive strategy that includes:

Community Engagement: Build and nurture a community around your token through social media, forums, and events.

Partnerships: Collaborate with other projects or influencers to increase visibility.

Educational Content: Create resources that explain the benefits and uses of your token.

Conclusion

Creating and launching an ERC-20 token is a powerful way to innovate and bring your ideas to the blockchain. By following this guide, you’ll be able to navigate the complexities of token development and launch a token that is functional, secure, and well-received by the community.

Remember, the success of your token depends not only on its technical development but also on its market positioning and community support. Stay engaged, keep innovating, and your ERC-20 token could become a significant player in the blockchain ecosystem.

If you have any questions or need further assistance, don’t hesitate to reach out to blockchain development experts. Good luck with your token creation journey!