Published January 1, 2024 by Technoloader
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In the present time, blockchain technology has been spread in every corner of the world. Due to this development, entrepreneurs are very keen to know about the cost to create ERC20 tokens.
On average if you are looking to start a decent ICO project, it will cost you between $500-$2000 for creating millions of ERC20 tokens.
This article is an overall guide to understanding the whole mechanism of ERC20 tokens and their development cost.
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Table of Contents
- 1 Overview of ERC20 Tokens
- 2 Types of ERC20 Tokens
- 2.1 Benefits of ERC20 Token Development
- 2.2 Why Technoloader is the best ERC20 Token Development Company?
Overview of ERC20 Tokens
Cryptocurrency network is developing at a rapid pace and the same is the case with Ethereum which is the second most popular blockchain network after Binance. An ERC20 token is different from tokens developed on other blockchain networks due to its outstanding functioning as a smart contract.
There are different purposes for which ERC20 tokens are being created. Some of the major purposes behind the creation of such crypto tokens include ICO, IDO, IEO and STO.
ERC20 tokens are nothing but blockchain assets that hold some value which would be similar to their native currency i.e. Ethereum. A blockchain developer while developing these tokens must integrate with all the required rules and regulations. It is a fact that the development of the ERC20 token after properly understanding the conceptualization would be resulting in higher scalability.
Types of ERC20 Tokens
- Utility Tokens
Utility tokens are certain digital units that represent a value on the blockchain network. It can be said that the utility tokens offer access to a product or a service which is being either run or operated by the token issuer.
- Security Tokens
These types of ERC20 tokens are securitized cryptocurrencies which derive their value through an external asset. These security tokens will be traded under financial regulation only.
- Equity Tokens
The equity tokens are the same as the traditional stocks in form as well as operation. The only difference between these types of tokens is that the ownership and transfer will be done digitally.
- Non-Fungible Tokens
The non-fungible token is a kind of digital certificate of ownership to a non-replaceable item which was unique and non-tradeable with another. This is one of its kind assets on the blockchain network which is majorly used to represent a work related to photos, audio, videos and art.
- Reward Tokens
This is also one of the types of ERC20 Token. The rewards tokens are deflationary tokens which are aimed to offer the maximum value to their holders. Rewards tokens generally pay you high rewards when you wait for the price rise.
- Currency Tokens
Currency tokens are the form of digital assets. The major feature of these types of tokens is that they can be easily exchanged or transferred with other types of tokens or cryptocurrencies. It means you can exchange an ERC20 token with another token.
Benefits of ERC20 Token Development
Some of the major benefits of ERC20 Token Development are as follows:
- Highly Secured
The ERC20 tokens are developed in such a manner that they become equipped with advanced security features. In the present time, the incidents of hacking are taking place more in number, due to which it is need of the hour that the digital currency you are using should be secure.
ERC20 tokens have the feature of KYC/API, end-to-end encryption and two-factor authentication which offers a well-secured token.
- High-Liquidity
Whenever a new token comes into the market, every crypto investor looks toward its level of liquidity. Liquidity means the time in which any asset could be converted into cash.
An ERC20 token is beneficial as it is very easy to convert these tokens into cash in a shorter time. This is one of the reasons why investors are finding this token appealing for investment purposes.
- Faster & Effective Transactions
With the help of ERC20 tokens, you can do the transaction for paying your utility bills in a faster manner. Due to this, it becomes one of the most demanded ERC20 because of its quality of doing effective transactions.
- Creation is Easy
You can create ERC20 Token very easily. It is recommended that if you want to create an efficient token, you should be hiring an experienced blockchain developer who can create Ethereum tokens on your behalf.
Why Technoloader is the best ERC20 Token Development Company?
Technoloader is a leading ERC20 Token Development Service Provider in the crypto sphere. We have a team of skilled and experienced blockchain developers who are specialized in creating customized ERC20 tokens based on your business requirements. The crypto tokens developed by our developers will be equipped with all the advanced functionalities and security-related features.
Our ERC20 Token Development Services are cost-efficient and we are renowned for the timely delivery as we believe in fulfilling our commitment. We have a never-ending list of satisfied clients and we ensure that hiring us as your blockchain developer will act as a major milestone in attaining your business objectives.
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