How to create and launch cryptocurrency tokens with TokenMint?

Developing cryptocurrency tokens has always been a complex task as it requires advanced blockchain programming skills. Until recently, only blockchain developers with strong coding skills could create a mechanism to mint digital coins. However, this situation has led to the development of platforms where anyone, without even knowing a little programming, can launch their cryptocurrency.

The flag-bearer for this change is TokenMint, a no-code tokenization platform. The platform bridges the gap between token creation and the mainstream, using automation to allow anyone without development knowledge to create and mint tokens.

This article takes a deep dive into what TokenMint is and how it works, how to create an ERC-20 token and launch a token with TokenMint, and more. Users will also learn how to mint the tokens they want. But before that, it helps to understand what ERC-20 and ERC-223 tokens are.

What are ERC-20 and ERC-223 tokens?

Ethereum Request for Comments – (ERC)-20 is a standard for fungible tokens created on the Ethereum blockchain. These tokens can represent almost anything on Ethereum, from lottery tickets to reputation points. How to develop an ERC-20 token is often a question asked by anyone looking to launch their own cryptocurrency.

related: The History of ETH: The Rise of the Ethereum Blockchain

ERC-223 tokens are designed to enable users to securely transfer tokens to wallets. It was created to solve a major problem with ERC-20: the lack of an event handling mechanism. The ERC-223 standard provides a way to prevent accidental loss of tokens in contracts that are not used to handle transferring tokens.

What is TokenMint and how does it work?

TokenMint, developed by Horizen, is a tokenization platform Designed Help anyone with little or no coding skills to create and launch their unique cryptocurrency tokens using custom tokenomics. Equipped with automatic drag-and-drop functionality, this easy-to-use platform simplifies the entire tokenization process and helps people quickly transition from crypto enthusiasts to currency owners.

TokenMint simplifies tokenization for mainstream users while integrating custom token economics and enhancing privacy elements. The platform removes the barriers between tokenization and ordinary people without programming knowledge.

related: What is Token Economics?A Beginner’s Guide to Cryptocurrency Supply and Demand

The mainnet of TokenMint will be launched in early July 2022. This comes after months of successful operation on the testnet. Users successfully created hundreds of tokens on the TokenMint testnet, leading to the successful launch of the mainnet version.

Components of the TokenMint Ecosystem

The platform has four key components that play a role in creating cryptocurrency tokens: TokenMint Chain, Token Generator, Cobalt Wallet, and Block Explorer. Here is a brief description of these components:

TokenMint Chain

The TokenMint Chain is a sidechain built on the Horizen Network designed to power tokens built by anyone on the platform. Developers can also build other components on the TokenMint sidechain.

token generator

Crypto Token Generatorr is a web application and token generator for creating and minting tokens. It involves a simple and streamlined process for creating fungible tokens.

Cobalt Wallet

Browser extension for managing and storing cryptocurrency tokens created with TokenMint, Cobalt Wallet for managing and trading tokens generated on the platform.

TokenMint block explorer

The TokenMint block explorer enables anyone to view all transactions that take place on the chain. It allows users to access all the details related to the transaction.

How to create tokens with TokenMint?

Creating tokens with TokenMint is a fast-forward process with some simple drag-and-drop operations, as follows:

The system has now created a token with one’s preferences. The platform is easy to access. And, even if the creator of the token has no pre-determined coding skills, it can’t be questioned because it’s just a matter of some drag-and-click. The next step is to mint tokens. Read on to find out more!

How to mint tokens with TokenMint?

In the same screen space where “Create Token” appears, once the token is created, a new option “Mint Token” is displayed and the user needs to click on it. When the next screen opens, the user has to fill in the wallet address they want to mint in the first box and the number of coins they want to mint in the second box.

The system now deducts the required amount of ZEN from the Cobalt wallet and sends the entered amount of tokens to the specified address. Anyone can use the TokenMint block explorer to find details.

Why use TokenMint to create tokens?

TokenMint hopes to trigger a new wave of cryptocurrency platforms, especially for those with non-programming backgrounds. As a robust platform built on Horizen’s highly secure blockchain infrastructure, TokenMint brings the trust that is essential to any project.

Use the underlying Horizen blockchain Have With tens of thousands of active nodes – one of the largest in the blockchain space – TokenMint can support applications with high traffic on its platform. On a zero-code tokenization platform like TokenMint, users without software development knowledge can mint tokens.

Drag and drop makes anyone feel as confident as a blockchain developer. This easy-to-use platform has a very simple and intuitive interface that provides users with a seamless experience. The functionality will be further upgraded as Horizen introduces more components.

As security remains paramount to Horizen, they maintain a strict policy of privacy, security and transparency. The TokenMint platform will leverage the power of zero-knowledge cryptography in its future releases to maintain a balance between privacy and security.

road ahead

at the time of tokenization expected To be the driving force behind a new wave of innovation in blockchain, TokenMint provides a platform for non-programmers to create or mint crypto tokens. While TokenMinthas has made tokenization accessible to the mainstream, it will become more efficient as the technology develops and expands.

For anyone outside the technical field looking to create a token to achieve their business goals, TokenMint has addressed previous challenges and obstacles. Additionally, users can continuously customize their token design until it is in sync with TokenMint’s requirements.

Privacy has always been a pivot for Horizen, and that element will be featured in the upcoming TokenMint release. One can expect key features such as zk-SNARKs, non-fungible token (NFT) capabilities, and EVM capabilities to further enhance the platform’s performance.