In video we are going to learn how to create ERC20 tokens without coding at the lowest cost and We will create an ERC20 token on the Ethereum testnet.
This method has been tested and can be done on the main network and all EVM networks such as BNB Smart Chain, Polygon, Avalanche C-chain, etc.
Video content:
- Introduction
- Network selection
- Token code settings and generation
- Compile and deploy ERC20 token
- Verify the code in Blockchain Explorer
- Burn some tokens
- renounce ownership
- Closing remarks
Links used in the tutorial on creating an ERC20 token without coding
What is ERC20 standard?
The Ethereum Request for Comment 20 (ERC20) standard is a standard for the Ethereum blockchain that requires specific scripting functions and two events that must be used when creating a fungible token in a smart contract. In simple terms, it is a standard used to create common tokens on the Ethereum network and similar networks (BNB Smart Chain, Polygon, Ethereum Classic, etc.).
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Can I create tokens on other networks using this method?
Yes, you just need to switch to your desired network before following the steps in MetaMask.
Can I use the method in the tutorial on creating an ERC20 token without coding
to create tokens on the mainnet for free?
No, performing any on-chain operation requires a transaction and, of course, a fee, which varies depending on the network (from less than a cent to tens of dollars).
What are the best networks for generating this type of token?
Usually, the target network in different projects depends on the needs of the project. For example, for a decentralized exchange operating on the Avalanche C-Chain network, it is obvious that it should also create its token on this network.
But in terms of fees, all networks except Ethereum have low fees. For example, on the Polygon network, you can create your token for less than one cent.
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