Last updated on March 1st, 2022 by RGB Web Tech
Best Token Development Service Provider Company in India. ERC20, an abbreviation for Ethereum Request for Comment, is an Ethereum token standard. It is used for representing smart contracts on the Ethereum blockchain. An ERC20 token is a cryptocurrency developed on the ERC20 standard of the Ethereum blockchain. The benefit of developing your token on this standard is the high level of security and reliability backed by a powerful Ethereum blockchain. An ERC20 smart contract associated with a token contains the set of rules for the developers and users of that token.
How does an ERC20 Token work?
An ERC20 token is not exactly a token by Ethereum, but it is a token based on the same blockchain that empowers Ethereum/Ether. ERC20 Token Development Company build your decentralized token in the same ETH blockchain environment using the ERC20 smart contracts. Here’s how it works.
Token: According to CoinMarketCap 76% Cryptocurrencies Followed the Ethereum ERC20 Token Standard Interface Till 2019.
You choose a name and purpose (idea) for your token. We will handle the development of smart contracts and token. An ICO (probably in multiple phases) sale will be held to collect funds from interested investors in exchange for your future tokens. People, who choose to buy your ERC20 tokens, will collectively own them. Then, you can either put your tokens on hold, allow trading through your own or any other cryptocurrency exchange or extend their usage to more physical/real-world applications.
Developing an ERC20 token from scratch requires very good knowledge of Solidity, the language in which Ethereum is coded, and this is exactly what our token developers are expert in. Our ERC20 development process included the following steps.
- Project Discussion with Client.
- Idea Evaluation and Planning.
- Platform development.
- Token Creation & Distribution.
- Whitepaper development (Optional).
- ICO Release & Marketing (Optional).
ERC20 Development Services by RGB Webtech
We offer a range of ERC20 Token Development and trading services.
Token Creation: We will help you develop a powerful and impenetrable ERC20 crypto coin based on your specific requirements. We write our own customized source code based on the ETH open source code available on the internet. You will be able to sell coins, transfer to other users or trade on popular exchanges.
ICO Development: In addition to developing your coin, we can also help you develop and run a successful ICO development campaign in order to market your tokens and generate funds for the project. Our expert digital marketers will promote your ICO campaigns through newsletters, social media and word of mouth to make it as successful as possible.
Digital Wallet: Depending on your needs, our software developers can also help you get a dedicated digital wallet for your ERC20 token. The wallet will be available for all your token users and investors, who will be able to manage and use their coins through their personal wallet accounts. However, the digital wallet services are exclusive of token creation.
Token Transfer: The ERC20 digital wallet offers a great number of features including the facility to transfer tokens to other users by using a unique wallet address. Users, through wallet app on their phones, can transfer tokens to other users, or use the same to transact for other things at local or online stores.
Listing on Exchanges: In addition to creating and launching the token, we can also list your token on various popular exchanges to facilitate their trading and sale. These trade platforms work like stock exchanges where buyers can choose to buy your token based on its popularity and market value.