10 Top Blockchain Platforms for Crypto Token Development
The ever-changing world of blockchain technology innovates groundbreaking modulations in the crypto space. In this transformation, blockchain-based products such as Cryptocurrencies, Crypto coins, and Crypto Tokens play a vital role. Among them, Crypto tokens gain investors’ attention due to their use cases and potential benefits. Many startups turned their enterprises into profitable ones through crypto token development.
Although it requires much effort, investing in crypto tokens is interesting, and reveals more excitement when you do it in the right way. Not only business personas, but general people also now show interest in creating crypto tokens. However, they face difficulties due to their minimal knowledge of blockchain technology and token creation.
So to help all sorts of investors, this blog will explore everything about crypto token creation. Also, we will have an overview of top-notch tokens residing in the 10 Top blockchain platforms. This may help you meet your enterprise goals as well. Let us begin with…..
What is Crypto Token?
A Crypto token is a digital currency that may represent the value of a fiat currency, asset, shares, and many more. These tokens are built on top of the blockchain, and they can be used for investment purposes to store value or to make purchases. For startups, it is a challenging task to choose the best blockchain platforms for crypto token creation. Because it needs detailed knowledge of blockchain technology.
Besides, tokenization opens up a world of possibilities in various sectors. This includes Decentralized Finance (DeFi), Supply chain management, NFTs (Non-Fungible Tokens), and many more. However, the proper selection of the best blockchain platform for tokenization is the trump card in token creation. Here, you may have a query about …
What is Crypto Token Development?
Token development is nothing but a process that involves a set of sequential steps to build and design crypto tokens in various blockchain platforms. Day by day, developing a feature-rich token gets more complicated due to the rapid growth of token creation technologies and trends.
As I said earlier, you need to choose the best blockchain platform for token creation. You will need to get a few things ready before you decide to make a token. But before that let me explain some…
Benefits of Blockchain Platforms
Blockchain platforms provide a robust infrastructure for individuals and businesses for crypto token creation, essentially revolutionizing the way we think about digital currencies. They offer a wide range of benefits that make them an attractive option for various industries. Some of the key advantages are,
- Increased security
- Immutability
- Transparency and accountability
- Accessible Global Market
- Lower costs
Overall, the Blockchain Platform transforms the creation, management, and trade of digital assets by offering a robust infrastructure for crypto token creation. These best blockchain platforms are transforming whole sectors and giving people and companies worldwide greater power. For instance, which blockchain would you create crypto token on? In the crypto market, many blockchain platforms have new and innovative ways to utilize the latest technology. But few are popular among crypto nerds. So, let’s have a brief explanation of the…
10 Top Blockchain Platforms for Token Development
Blockchain is a distributed digital ledger that powers crypto products with its admiring technology solutions. Each blockchain platform has different characteristics that produce different performances. Also, efficient usage of blockchain resources will yield greater scalability for the token as well. So it is necessary to give additional focus while choosing specific blockchains for token development.
So, we will closely look at the 10 top blockchain platforms to help you get a head start on your token creation. With any one of these blockchain platforms, you can create your crypto token for crowdfunding and use it in several ways.
Ethereum
Ethereum is a well-known decentralized blockchain platform that establishes a peer-to-peer network for its users. It executes and verifies application codes called smart contracts. It allows users to transact with each other without a trusted central authority. Its native currency is Ether.
Ethereum has its own token standard ERC, which stands for Ethereum Request for Comments. There are different Ethereum standards for the token creation.
1. ERC20 Token
ERC-20 is the standard that is used to create smart contract-enabled fungible tokens to be used in the Ethereum ecosystem. It is a simpler interface that allows you to develop a token on the Ethereum blockchain network. Also, it is the most common standard for Ethereum-based tokens.
Due to its adaptability, startups are urged to create ERC20 tokens. It is also fungible, splittable, and easily transferable. To Create ERC20 token, you can get help from the ERC20 token creation service provider.
2. ERC721 Token
ERC721 allows anyone to create unique tokens on Ethereum. It determines non-fungible tokens (NFTs) on the Ethereum blockchain. It also can be used to symbolize ownership over assets. ERC721 is a more complex standard compared to ERC20 because it has multiple optional extensions and is split across several contracts.
3. ERC1400 Token
ERC1400 is a security token standard that helps to eliminate the technical uniformity that prevents crypto and fiat securities from working side by side. It also works with several other token standards to manage both Fungible and Non-fungible tokens.
4. ERC1155
It is considered a hybrid because it combines the best parts of two other standards — ERC20 and ERC721. This means that with ERC1155, you can have both fungible and non-fungible tokens all in one contract. It is more efficient and super flexible for developers who want to create different types of digital assets on the blockchain. Overall, ERC1155 is like the Swiss Army knife of token standards — versatile and handy for various situations in the crypto world.
TRON
Like Ethereum, Tron is a decentralized network well-suited for large-scale or complex enterprise-level token development. Its core functions are similar to Ethereum. Tron blockchain platform helps token developers to create scalable tokens. The native currency of Tron is Tronix, otherwise called TRX. The different token standards of Tron are TRC20 and TRC721.
1. TRC20 Token
TRC20 is the most popular token standard in the Tron blockchain. It is based on the implementation of a smart contract. TRC20 tokens help you to construct your business by selling them on the ICO crowd sale. To create a TRC20 token, a Tron account with a smart contract is necessary. For startups, it is tedious to create a TRC20 token. TRC20 token development requires expertise and guidance from a professional crypto token development company.
2. TRC721 Token
TRC721 was the first known non-fungible token standard on the Tron network. It increases the token value and a type of standard interface for issuing a Non-fungible token on the network. If we develop a TRC721 token, it offer users to gain a huge profit from its new trends and technologies.
BNB Chain
BNB Chain is a type of blockchain project which was initiated by the Binance community. BNB Chain enables the creation of smart contracts for tokens. For startups, it brings a new level of freedom to raise money or liquidity. Similar to Ethereum and Tron, BNB also has its token standards.
1. BEP20 Token
BEP20 is one of the famous standard tokens on the BNB Chain. It provides a flexible format for developers to launch a wide range of tokens. It is relatively easy to create a BEP20 token, with the help of experts. If you are a startup, you can also Create BEP20 token to raise funds. To create a BEP20 token, you can hire a BEP20 token development company. With their help, you can get a complete token creation service with an advanced technical feature at an affordable price.
2. BEP721 Token
BEP721 is a BNB token standard that allows us to create a non-fungible token. And also you can create multiple tokens based on a single smart contract. BEP721 token development is massively popular among crypto nerds who want to make a mark in the NFT marketplace.
3. BEP1155 Token
It is a game-changing token standard in the blockchain industry. It intends to integrate the finest aspects of existing token standards to produce a decentralized token contract. It is the multi-token standard for smart contracts that combines the fungibility of BEP-20 and the non-fungibility of BEP-721 in one contract.
Solana
Solana is the fastest-growing blockchain in the crypto industry. It is a decentralized blockchain that has tremendous growth in the Ethereum network. Like Ethereum, it also increases liquidity and has complete ownership of your digital assets. It plays a vital role in the market of Ethereum. Despite that, they both have some similarities, but their disparities are more enunciated. SOL is Solana’s native cryptocurrency, and it also works as a utility token.
Waves
In the current days, Waves become one of the familiar blockchain platforms. It is used by Megacorps for creating their custom token. This blockchain network allows you to create your token within minutes. And also it includes decentralized exchange. In the Waves blockchain network, your users can trade with your newly created token in a trading pair with any other tokens.
Polygon
Polygon is a blockchain network made for higher scalability and usability. Formerly, this blockchain was known as a ‘Matic’ network which specialized in offering level 2 scalability solutions. Hence the native token of polygon token is known as MATIC which is basically an ERC20 token. Each polygon token holds its blockchain platform's characteristics. So that, you can get faster transactions with cost efficiency than Ethereum tokens. Further, you can use Polygon tokens with graded security making them fit for various use cases.
TeZos
TeZos is a decentralized blockchain network that resolves blockchain adoption issues. The native token of this blockchain is Tez (XTZ). Since TeZos operates in Proof of Stake consensus, your token requires less energy and it would be cost-efficient. Also, it can offer greater transaction output making it suitable for DeFi, NFT, and Decentralized applications. The Interoperability of TeZos enables the cross-chain functionality of its token which is an added advantage for your business.
Stellar
Stellar blockchain came to market in 2014 to support cross-border payments and asset transfers. It is a decentralized exchange that offers higher transaction speed making them suitable for financial applications. With the built-in decentralized exchange, the Stellar network simplifies the buying and selling of crypto assets. The native token of this blockchain platform, Stellar Lumen (XLM) is used for numerous operations to make this blockchain smooth and secure.
Consensys Quorum
Consensys Quorum is a cool blockchain platform that helps businesses do all sorts of important stuff. It’s like a fancy digital ledger that keeps track of transactions and data in a super secure way. What makes Quorum stand out is its special features tailored for enterprise use, like improved privacy settings and the ability to handle high transaction volumes. So, if you’re into cutting-edge tech that’s changing the way companies handle data and transactions, Consensys Quorum is worth checking out!
Hyperledger Fabric
It is a platform for token development to build private blockchain networks that are super secure and customizable. Unlike other blockchain platforms, Fabric lets you control who gets to see what is on the network, so you can keep your data safe and private. It has all sorts of nifty features like smart contracts and consensus protocols to make sure everything runs smoothly.
So far, we have seen the most popular blockchain platforms for token development. However, each blockchain has unique benefits and drawbacks when it comes to token creation. As a startup, you need to consider the…
Parameters to select the best Blockchain Platform for Token Development
For beginners, it is imperative to understand the aspects of the blockchain platforms. Here I have mentioned some crucial factors that you must consider before you begin.
Kind of network
Language used
Popularity
Activity
Pricing
Consensus algorithms
Blockchain mechanism
Once you get a blockchain platform that matches all your requirements, you can move further with the token creation. For those who need technical expertise to create a crypto token, choosing a reputed Crypto token development company is advisable. However many development firms are ruling the current industry. You need to choose the prominent among them who provide you with the first-in-class token creation service as per your business needs. Now let us see…
How to choose the best Crypto Token Development company?
When choosing the top Crypto Token development services, you need to be careful. So, here I have prepared informative tips for choosing a trustworthy Token Development Company.
- Dedication and focus
- Experience and specialized knowledge
- Project managers oversee the processes
- Budget-friendly
- Access to the cutting-edge technique
- Build a Long-standing relationship
- 24/7 Support team
- Search for a good Portfolio
- Testimonials and Transparency
- Maintenance and support
Cross-check with the above-given checklist and choose the prominent Crypto Token Development Company to create the best-ever token for your business. Also, they provide comprehensive token creation services right from project planning to the deployment of the token. Well, but as a startup should be clued in on the revenue generation factors of crypto token creation because it could potentially make or break their success.
How does Crypto Token Creation help to Generate Revenue in 2024?
- As everyone knows, crypto tokens have become the talk of town as they offer a unique way to raise funds through ICOs. By developing your token, you give people an opportunity to invest in your project, and that’s where the revenue starts flowing in.
- These crypto tokens are tradable on various cryptocurrency exchanges, which means you can access a vast global market of potential buyers. As demand for your token increases, its value can skyrocket too, allowing you to make significant profit.
- By integrating smart contracts into your token’s design, you can create multiple revenue streams such as staking mechanisms or fees for utilizing specific features within your platform.
Overall, crypto token development opens up an exciting avenue for generating revenue with great potential for growth in the coming years.
Final Verdict
Day by day blockchain technology is evolving with new features and advancements. As said earlier, there are plenty of blockchain platforms available for token creation. For startups, it is somewhat tedious to develop a token. Also, it will take time to create.
Consider the above-mentioned factors and choose a professional token creation company to create your token. The experienced and skilled blockchain developers help you to create a token with all advanced trends and features. If you hire a reputed token development company, they will guide you with token creation. Get your own token, and raise funds for your business. Meanwhile, get to know the frequently asked questions about token development platforms given below.
Frequently Asked Questions
What are the advantages of using blockchain platforms for token creation?
Blockchain networks are the fundamental component of creating tokens, known for their security, reliability, and transparency. Creating crypto tokens using blockchain gives the token extraordinary performance with specific blockchain qualities.
What are the use cases of Token Development?
Crypto tokens represent various assets, rights, or functions to make them fit for diverse applications or platforms. Some of the reputed use cases are crypto crowdfunding, NFTs, Supply chain management, Gaming and entertainment, Financial platforms or applications, and many more.
How can you create crypto Tokens on Blockchain?
Crypto token creation involves a series of procedures that include smart contract programming, regulatory norms, and many more. These need professional guidance and advanced technical knowledge. So it is wise to approach a prominent crypto token development company to create your token.
How much does token development cost?
Actually, the token development cost is not a fixed term. It varies with respect to certain factors like the number of tokens required, feature set, complexity of the token, testing, and real-time assessment. The cost to Create a crypto token generally ranges between $8000 — $10000. Approaching a reputed crypto token development company helps you attain crypto tokens in a cost-efficient manner.
How do I make money with crypto Tokens?
You can make money with your crypto token in various ways. You can sell or trade your crypto token in crypto exchanges. Otherwise, you can make passive income from staking, mining, yield farming, or liquidity providing. If your intention is to raise funds for your crypto startup, you can conduct crowdfunding through ICO, STO, and many more to sell tokens for fundraising.
