I previously talked about how to implement your own token on top of Algorand using layer two processing and the Algorand transaction’s note field. With the release of Algorand 2.0 and the Algorand Standard Asset, implementing your own token is now preposterously easy.
How easy? Well, the code I used to issue my own asset is 84 lines of golang, and much of that is comments and error handling. The pseudocode looks something like this:
I often get asked this question:
WELL-MEANING FRIEND OR RELATIVE: Oh, Evan, you work in the cryptocurrencies industry? Oh-ho, are you making your own coin, when is EvanCoin coming, oh-ho?
ME: Ha-ha, oh, it’s not like that [blah blah blah]
Eventually I got fed up, now I answer:
ME: (suddenly intense) It will be coming very shortly and it will be built on Algorand.
This surprises people, but it really is that easy to build your own layer two application on Algorand! (A layer two application on Algorand will typically consist of an application that manipulates data using Algorand transaction’s…
key words: robotics, cryptocurrency, smart contracts, digital asset ownership, automation, blockchain; key location: Boston; key keys: house, car, private