[FIXED] How to issue your own token on an existing blockchain

Issue

I'm investigating how to issue my own token on the existing blockchain.

When I looked it up, there seemed to be two ways.

One is to use platforms such as CoinTool, BakeMyToken, TokenFactory to create tokens without writing any code.

Next, write the code of the smart contract according to the standard such as Ethereum's ERC-20 and issue your own token.

I have two questions to ask.

First, what is the difference between issuing a token with a dedicated platform without writing a code and issuing a token with a smart contract code?

Next, is it possible to write smart contract code and issue your own tokens like Ethereum's ERC-20 even in the case of other blockchains?

Solution

Well I'm still a beginner at this as well so this is an answer from a newbie to another newbie, so I might not be 100% correct.

The way I understand this one difference from using another platform to create your token is that you are not going to own that contract on the platform, I imagine that you are going to be creating a token in someone else's smart contract (not 100% sure if those platforms work this way or not), so you have less control over it once you are not programming the smart contract the way you like.

For the second question, yes, I believe any blockchain that supports smart contracts can implement the pattern ERC20, or others like ERC721, ERC1155, etc.

Answered By - Marcelo Borges

Answer Checked By - Pedro (PHPFixing Volunteer)