How to Create and Transfer Your TRC-20 Token in 5 Minutes

How to Issue Your Own TRC-20 Token in 5 Mins

TrustNote is a DAG based distributed ledger and its development platform for the tokenized economy. One of its use cases is to empower developers to create, issue, and manage tokens or digital assets in a fast and easy way.

With the recent release of TrustNote’s TRC-20 token specification, we also released a sample code in JavaScript. It shows you how to create a TRC-20 compatible token, transfer assets, and check the balance on TrustNote’s testnet.

In this guide, I’ll walk you through the use of the sample code and some of our tools, so you can create your own token, transfer assets, and check your balance, by modifying a few lines of the code.

Requirements

Ubuntu 16.0.4

This guide assumes that you are using Ubuntu 16.0.4. Before you begin, you should have a non-root user account with sudo privileges set up on your system.

Node.js 8

You can run node -v to check if you have installed Node.js 8 correctly. If not, you can check nodejs.org for how to install Node.js 8 on Ubuntu based Linux distributions.

How to Install the Sample Code and Sync Your Node

Clone from the source:

git clone https://github.com/trustnote/trustnote-token.git

Install the code using npm:

cd trustnote-token
npm install

It will take some time to install depending on your network speed, please be patient. Once finished, we need to change the address of the genesis unit from mainnet to the testnet:

• Find constants.js from trustnote-token/node_modules/trustnote-common directory
• Open the file using your editor of choice and find the section named GENESIS_UNIT (should be at line: 13), replace the value from rg1RzwKwnfRHjBojGol3gZaC5w7kR++rOR6O61JRsrQ= to MtzrZeOHHjqVZheuLylf0DX7zhp10nBsQX5e/+cA3PQ= and save the file.

Start the service on your node and wait for data synchronization:

node start.js

Press Enter to accept the default action when you are prompt for input.

You can proceed to the other steps when you see the following message:

Note: The message above shows the log file’s path, you can view the live status of data synchronization by run tail -f <logfilepath> from an new terminal window. Data synchronization may take about 15 minutes or longer to complete depending on your network speed. When start.js is executed in the first time, your passphrase will be written in the same directory as the log file, its matching wallet address will be generated and saved in a file called address.json in your trustnote-token directory.

How to Get TTT Test Notes

Issue tokens on TrustNote’s mainnet will cost you some TTT Notes. You can buy TTT Notes from cryptocurrency exchanges such as Bit-Z. But for testing purposes, you can get some TTT Test Notes for free:

• Find and open address.json from trustnote-token directory, copy the address
• Open www.trustnote.org/token.html from your web browser, paste the address in the “Send to Address” input form and press the button below, then you will receive some TTT Test Notes in that address
• You can check your balance by open the testnet explorer, enter your address in the search field and press the search button

Note: TTT Test Notes can be used to issue tokens and pay for the transaction fees on the testnet, however it doesn’t work on TrustNote’s mainnet.

How to Issue Your Token

By default, the amount of the token to be issued is 1 trillion. If you want to issue a different amount of tokens, you can:

• Find create_asset.js from trustnote-token directory
• Open the file using your editor of choice, change cap: 1000000000000 (line: 14) to the amount you like and save the file

Now you can issue your own token by run the following command:

node create_asset.js

Press Enter to accept the default action when you are prompt for input.

If successful, a file called asset.json will be generated in your trustnote-token directory, then you can check your tokens by:

• Find and open asset.json from trustnote-token directory, copy the value of your TokenId, note TokenID is the identifier of the token just been issued
• Open the testnet explorer, enter your TokenId in the search field and press the search button

How to Transfer Your Token

• Find transfer_asset.js from trustnote-token directory
• Open the file using your editor of choice, replace DJw4edxgaSbt7VGTsmsadmRdYJ+Vvz1Hrhy+JGrAyiA= (line: 11) with your TokenID from asset.json, and save the file
• You can also change the transfer amount from 15 units (line: 11) to any amount that you want to try. In my case, I just change it to 80 units, and save the file

Now you can transfer the token by run the following command:

node transfer_asset.js

Press Enter to accept the default action when you are prompt for input.

If successful, 80 units of token will be transferred to LDFEZ5TWE4XW4NUAUQHCMEPEQV7NAX6X, the default destination address which is hardcoded in transfer_asset.js (line: 11), you can check the results of the transfer by:

• Open the testnet explorer, enter the destination address in the search field and press the search button

Now What?

Congratulations if you have made this far! Now that you have your own token, I hope you enjoy the benefit of easy to develop, instant transaction performance and low transaction fees delivered by TrustNote!

Please keep in mind that real production grade token issuance and management will take more efforts and thorough tests.

Thanks for reading this. If you have any questions, please feel free to comment below.

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