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Developing a cryptocurrency token was a complicated task as it required advanced blockchain programming skills. Until recently, only blockchain developers with strong coding skills were able to create mechanisms to create digital coins. However, this scenario has led to the development of a platform that allows anyone to launch a cryptocurrency without even knowing an iota of programming.
The flagship of this change is TokenMint, a code-free tokenization platform. The platform used automation to bridge the gap between token creation and the mainstream, allowing anyone to create and create tokens without any development knowledge.
In this article, we dive into questions such as what TokenMint is, how it works, how to create ERC-20 tokens, and how to launch tokens using TokenMint. Users will also learn how to create the required tokens. But before that, it’s helpful to understand what ERC-20 and ERC-223 tokens are.
Ethereum request for comments- (ERC)-20 is a standard for fungible tokens created on the Ethereum blockchain. These tokens can represent virtually anything on Ethereum, from lottery tickets to reputation points. How to develop an ERC-20 token is a question usually asked by anyone who wants to launch their own cryptocurrency.
Related: ETH History: The Rise of the Ethereum Blockchain
ERC-223 tokens are intended to allow users to securely transfer tokens to their wallets. It was created as a solution to a major ERC-20 problem – the lack of an event handling mechanism. The ERC-223 standard provides a way to prevent accidental loss of tokens within contracts that were not written to handle the tokens submitted.
TokenMint, developed by Horizon, is a tokenization platform. design We help people with little or no coding skills to create and launch their own cryptocurrency tokens using custom tokennomics. The easy-to-use platform introduces automated drag-and-drop functionality that streamlines the entire tokenization process and helps you quickly transition from crypto enthusiast to currency holder.
TokenMint has integrated custom tokennomics to enhance privacy elements while simplifying tokenization for mainstream users. This platform removes the barrier between tokenization and the average person with no programming knowledge.
Related: What is Tokenomics?A beginner’s guide to cryptocurrency supply and demand
TokenMint mainnet will be launched in early July 2022. This was after several months of successful execution on the testnet. A user successfully created hundreds of tokens on his TokenMint testnet and successfully launched the mainnet version.
There are four key components of the platform that play a role in creating cryptocurrency tokens. TokenMint Chain, Token Generator, Cobalt Wallet and Block Explorer. A brief description of these components follows.
The TokenMint chain is a sidechain built on the Horizon network that aims to power the tokens that everyone builds on the platform. Developers can also build other components on top of the TokenMint sidechain.
crypto token generatorr A web application and token generation tool for creating and creating tokens. This includes a simple and streamlined process for creating fungible tokens.
Cobalt Wallet, a browser extension for managing and storing cryptocurrency tokens created using TokenMint, is used to manage and process tokens generated on the platform.
TokenMint Block Explorer allows anyone to see all transactions that have occurred on the chain. The user has access to all details related to the transaction.
Creating a token with TokenMint is a fast-forward process with a few simple drag-and-drops, as shown below.
The token was created with the preferred parameters by the system. The platform is made for easy access. And it doesn’t matter if the token creator doesn’t have the prescribed coding skills, just a few drags, drops, and clicks. The next step is to create a token. For more information, read on.
In the same screen space where ‘Create Token’ appeared, once the token is created, a new option ‘Mint Token’ appears and the user has to click on it. When the next screen opens, the user has to enter the wallet address they want to create in the first box and the amount of tokens they want to create in the second box.
The system will deduct the required number of ZEN from your Cobalt wallet and ship the entered number of tokens to the specified address. Anyone can use the TokenMint block explorer to find out more.
TokenMint hopes to spark a new wave of cryptocurrency platforms, especially for people with no programming experience. As a robust platform built on Horizon’s highly secure blockchain infrastructure, TokenMint brings the trust that is so important to any project.
Uses the underlying Horizon blockchain have Tens of thousands of active nodes one of the largest in the blockchain space TokenMint can support applications with heavy traffic on its platform. A zero-code tokenization platform like TokenMint allows users without software development knowledge to create tokens.
Drag and drop makes everyone feel like a blockchain developer. This easy-to-use platform has a very simple and intuitive interface that offers users a seamless experience. The functionality will be further upgraded as Horizon introduces more components.
Security remains essential to Horizon and we maintain strict policies that cover privacy, security and transparency. The TokenMint platform will harness the power of zero-knowledge cryptography in future releases to maintain a balance between privacy and security.
when tokenization takes place Be expected To power a new wave of innovation in blockchain, TokenMint provides a platform for non-programmers to create or create cryptographic tokens. TokenMinthas has already made tokenization mainstream available, but as the technology develops and expands, tokenization will become even more efficient.
For non-technical people looking to realize their business goals by creating tokens, TokenMint addresses previous challenges and barriers. Additionally, users can continue to customize the design of their tokens until they are in sync with TokenMint’s requirements.
Privacy is a pivot point for Horizon and this element will be included in future releases of TokenMint. Key features such as zk-SNARKs, Non-Fungible Token (NFT) features, and EVM features can be expected to further improve the performance of the platform.
