If you are planning to create your own token on the Ethereum blockchain, then it is essential to know some of the famous ethereum token standards that are being used in the market. In this blog, you can get to know some of the basic facts involved in Ethereum token standards and its services.
Ethereum is an open to all blockchain platform that was launched in the year 2015. It serves as a home to digital currency, online payments and for several Dapps. The primary objective of this platform is to have its users make agreements and transactions without involving any intermediate companies. The native cryptocurrency of this blockchain network is ETH and it is the next popular cryptocurrency after Bitcoin. With time, other than cryptocurrency trading, Ethereum network has proposed several other purposes like smart contracts, wallet solutions, decentralized applications etc. Such features has made it an irresistible platform for several crypto users.
Ethereum tokens are the digital assets built on the Ethereum blockchain network. Here the developers aren’t required to build a whole new blockchain since these tokens operates on the existing Ethereum network. These Ethereum tokens can be used to represent anything from a physical object to a digital asset. The use cases of these ethereum based tokens includes a variety of industries like finance, identity management, gaming etc.
Ethereum Token Development - it is a kind of cryptocurrency development, which comprises the complete process of creating a token on ethereum blockchain. The token will underlie the ethereum token standards powered by ethereum network. Some of the token standards are ERC20, ERC721, ERC1155, ERC223, ERC721, ERC 777, ERC 998 and more. Whereas, each token standard represents the characteristics and functionality of the developed token.
At Security Tokenizer, we provide complete Ethereum token development services on the ethereum blockchain. We design, develop and deploy fully functional, bug-free ethereum tokens on various standards. Smart contract development, wallet development, and liquidity solution will come as add-on services. Here we have listed out ERC Tokens standards in which we can cater our etheruem token development services.
This is the most popular Ethereum token standard which has functionalities similar to Bitcoin. Several ICOs that has been issued till now is based on this ERC20 token standard. This token standard is majorly used to develop and create smart contracts on the Ethereum blockchain network.
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ERC223 token is compatible with the tokens of ERC20 standard. This token standard has been solely introduced as an improved version of ERC20 tokens in many ways. The main advantage here is that, these tokens allows its users to transfer their tokens to either their contract or wallet using the same transfer function which reduces half the gas fee spent while using ERC20 tokens.
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ERC721 is an Ethereum based token standard that is mainly used to build non-fungible tokens. Unlike other fungible tokens, the tokens created bases on ERC721 standard are not similar with one another due to its non-fungible nature.
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Other than ERC20, this is the most popularly used token standard in Ethereum blockchain. It is mainly used to address the limitations faced in ERC20 token. Similar to ERC20 tokens, this ERC777 tokens can be stored and handled in any regular wallets that operates on Ethereum network.
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This ERC998 token is popularly known as Composable Non-Fungible Tokens. This standard was mainly introduced as an advanced-level ERC721 token standard, hence it is majorly being used in creating non-fungible tokens. The unique feature of the NFTs created under this token standard is that it has the ability to own the other NFTs of various standards like ERC20 and ERC721.
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ERC1155 is an unique ethereum token standard since it supports both fungible and non-fungible tokens. The primary objective of this token is to create an advanced-level smart contract which can control a large number of both fungible as well as non-fungible tokens.
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Ethereum network, provides you a technology called Ethereum Virtual Machine which understands your smart contracts and lets you to interact with it.
This blockchain allows you to create decentralized applications which makes it easier for you to perform several tasks such as online trading, making payments and many more.
It provides smart contract solutions in which the developer can automate several functions so that it doesn’t need any governance from a third party.
The Dapps developed on the Ethereum blockchain operates gloablly through a decentralized server, thus reduces the overall downtime.
It offers better security by distributing the data to multiple systems, so that no individual can disrupt the data.
Being the best Ethereum token development company, we offer various token development services as follows.
We specialize in Ethereum blockchain network and capable of developing both fungible and non-fungible tokens using popular ERC token standards that meets all your requirements.
We create tokens that can be easily migrated to any blockchain network under the preferred token standard. Ex : ERC 10 to TRC 10, ERC 20 To TRC 20. and etc.
We provide customized wallet solutions on the Ethereum network based on your requirements. With our high-end secured wallet service, your holdings will never be compromised.
We provide effective hardware security that ensures you have safe storage of your tokens. By storing your tokens offline in our cold storage facility you can reduce the threat from potential hackers.
After our token deployment, we will help you enlist on Etherscan so that you will be able to monitor your transaction. You can also verify your data such as ETH balance you have and its corresponding fiat currency value etc.
As a leading token development company, we specialize in developing all kinds of tokens on various blockchain networks. With our immense knowledge in the Ethereum Blockchain, we can help you benefit from the effective Ethereum token development service you desire and improve your business standards. We also offer various token related services like Real Estate tokenization, Equity Token Development, Security Token Development, STO Exchange Platform andDevelopment, Security Token Development, Smart Contract development and more. Explore How To Create An Ethereum Token Here.