QUESTION:1
The introductionary criteria in the creation of cryptocurrency seem to be very easy nowadays instead traders face difficulties in making crypto or they need high programming software and processors. Evolution affects cryptocurrency a lot and further the process of coding and decoding becomes very easy to handle even every person can easily generate their cryptocurrency by providing name logo size and other necessary things. Since our professor taught us the basics regarding the creation we will exaggerate them in detail.
Everyone is aware of trading crypto especially newcomers who are ain't aware of creating cryptocurrency rather creating tokens are simple instead of coins. You guys know about mining which is also the creation of existing crypto so the process of creating any Cryptocurrency where verification of transaction and further crypto involves in the market but here we are creating our cryptocurrency with our means specialization
Where every one can easily create crypto tokens gradually high levels of scams are also very rare though need expert knowledge and good know-how of any tokens are required to purchase any token.
Hence coin took lots of efforts process and a healthy financial statement. Held that development crypto currency needs good engagement with each other to that person who your mentor and financial advisor, so here we took simple means by creating token which can be the easy way to access and create. Although before moving towards our development stage a little bit of knowledge of coin and token is necessary so let's differentiate them in simple bullet points.
Difference between Coins and Tokens:.
Coin | Token |
---|---|
1-Coin is digital money and has value for money and is equivalent to currency. | Token is a digital asset and depends upon any other blockchain and having shares in tokens. |
2- Having own blockchain mania and support protocol. | Token ain't have its blockchain protocol. |
3- The creation of coin is very costly and need higher programming skills. | Creation of token is easy and even creation can be done without investment just gas fees required. |
4- Coins can be mined in two-way POW and POS. | Tokens can't be mined instead they can create by supplying. |
5- Coins in terms of coins are means in rewards. | Tokens in terms of other tokens are means in rewards. |
6- Coin has the power to purchase tokens. Hence coins also do have the ability of payment methods | Tokens ain't have the power to purchase coins. Means of share and ain't having the ability of payment method. |
7- Coins are bitcoin, Binance coin etc.. | Tokens are CAKE, BAT and technical smart contract ERC-20 TRC-20... etc |
QUESTION:2
✓Here am using metamask to demonstrate the necessary steps for creating Cryptocurrency, which required that 15$ transaction of BNB Cryptocurrency and gas fees.
✓ Click the link and it will lead you towards Meta Mask
- There you can see the download option tab click on it.
- Install meta mask to chrome for an extension.
- From the top right corner there is add chrome click on it a few mins later the chrome will be updated in your browser.
- Add extension Option is available and do click on it for downloading the chrome to the browser.
- Here you can see two options create or import an account, click on create wallet for updating the new meta mask wallet.
- Secret recovery phrase you can use to make your wallet more confidential and secure, do remember always safe your Private keys in the safe ledger.
- Click on All done where you can use your meta mask wallet freely to read the tips and conditions.
- Here your new account has been created, where you can adjust your setting by the enlightened red box (on-chain mainents).
Yet we had created our new meta mask wallet with 8 easy steps. Now I will use my Binance smart chain network for further processes. Hence you need further assistance and steps to attain that network.
-Here you can see three bars in tab top left corner click on it.
- Settings are seen in the screen shot below click on it.
- The network option is available click on it.
- Click on add network, I already updated the binance smart chain but I will demonstrate for you guys again.
- Click on this link will take you towards the Binance network copy the network URL , chain if and other necessary things that are required.
- I updated all the requirements do clicking on add.
- The network is added and you can see the new binance smart chain has been enlightened over there.
I am the active user of meta mask thus I have 0.05 bnbs over there so it will be enough for transactions or gas fees criteria
QUESTION:3
This is one of the convenient platforms where writing compiling and debugging the code,Remix IDE application is the part of Remix Project platform used to edit smart contracts of ethereum and BSC network. It is used in implementation and testing of smart contracts through modules.
The best thing about it is, that the application is very user friendly and you don't need to be expert of programming language thus you can easily customise the source code.
JavaScript is the programming language of Remix IDE application and in this application you can complete project of your token in a short period of time.
Here we will download the source code by using the link below source
- By clicking the link you will move towards balance org where the source is available for the creation of my cryptocurrency.
- Here you drop-down option at the top left corner.
- Binance bep 20 asset where you can see the optionbep20 issue web click to open it.
- Opening issue token option thus there you can see the click here option.
- Download option will be pop-up there BEP20TOKEN template for source code.
QUESTION:4
Customizing source code:
Now we are Customizing the code that we generated above so the below link can lead you there,
- As above we have downloaded the name BEP20TOKEN template. Over here we need to select **contract. Further from there, you can see New file as BEP 20 TOKEN.sol configure it and then you can see the blank coding area where you can use your template.
- As you can see the blank coding area where we would paste the source code of our binance org to Remix IDE, which you can see below.
- Then simply do paste that above code in the remix. ide.
- Held, that we need to edit the Source of our means crypto in the section. You can see constructor coding in the 351 coding area.
Further, you have to edit the contractor code with Token name, Token Symbol,Token Supply customize your crypto as per your means
Here you can see I updated the code by writing
Now here I adding my Dream Project Needed Crypto Token like this.
Name = "CharYar";
Symbol = "cy";
Decimals = 18;
Total supply = 1000000 * 10 ** 18;
My token name symbol and decimal which 18 BSC chain default, with 1000000 supply for manipulation in the market all things are updated above you can see.
- Click on Compile BEP 20 Token.Sol.
- After that your crypto token source is ready, transaction verification code click the dropbox then it will automatically be saved your transaction under record in contracts.
My Token has been now further we have to import this token in meta mask which is the requirement of next question.
QUESTION:5
Click to drop down box for connecting sites.
There you can see the manually connect to current site.
Now automatically the extension would connect the meta mask wallet to remix. ethereum.org.
Click to connect option then remix.org would be there in your connected sites.
As we are doing all things in extension thus moving to Remix platform there you can see javascript VM(London) tab click on it.
Option of Injected Web3 tab is there you have to click that.
- Allow the transaction and you can see the detail of gas fees and other tips.
Yet we had accomplished to move our dream future token to meta mask.
Adding my token to Meta mask wallet:
- Now you have to go through the meta mask wallet and do click on import tokens.
- From BSC scan link copy the hash address and paste here all the related detail of the token will be automatically updated there.
- You can see how easily our token is added in the meta mask wallet and all the transactions are completed. Although there are some gas fees (5$) is also detected held your dream token is imported.
QUESTION:6
Verification from block explorer of BSC chain:
- Go to the BSC chain transaction link, where you can see the search bar do paste your address, and then holdings and other verification details would be manifest there which you can see from the below screenshot.
LiNK
- For verification purpose, you need to transaction history where all the transaction detail is manifest.
hash 0xcbaed668368ab3a6977ff34611293b744f26497d0a31fbf48ce8681061a593c2
- Move to the link I provided below of binance transaction as you can find there, as my transaction was there because my wallet is connected the below the image, you can see my transaction detail is provided.
- All transactions are successfully done where you can see from this screen shot.
I have completed all transactions from different process which you can see and relate.
Conclusion:
The conclusion of this post leads me to deprive that we learned our knowledge with two main types of concepts, the first is coin and token and other creation of cryptocurrency. I was so excited to attain this knowledge and yet discuss it with my friends. Held token can easily be created contrasts to coin. Here we had done deep learning about these things and the most efficient and effective way to create a token.
Hence technology is widely spreading all over the fields, blockchain is also associated with that so it's very easy for traders who are aware of these blockchain learning.
So professor taught and exaggerated the lecture in a easy and simple manner. Howbiet i also put my all effort to compensate with the task to explain each question in a easy and generalized way.
Thanks for giving a read.
Regards;
@dabeerahmed