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Deploy Your First ERC20 Token in 5 min
Do you have a crypto project in mind? Do you want to create your own ERC20 token? It’s never been so easy. Here, you will find all the details to easily build your own token!
ICOs, IDOs, and at least 80% of the tokens that you see on Coinmarketcap are ERC20 tokens. Shiba Inu, Baby Doge (and in fact most coins with “Doge” in the name except Dogecoin), USDT, and most DAOs are ERC20 tokens.
In this article, I will be showing you how to deploy an ERC20 token, step-by-step. The purpose of this article is to help everyone to be able to deploy this token whether you have coding knowledge or not. Before we go into that, however, I’d love to give a little introduction to the term “ERC20” for the noobs reading this, remember this is for everyone 🐵
If you want to have a complete course on how to create and deploy ERC20, ERC721 (NFTs), and ERC1155, check out this Smart Contract course.
What exactly is an ERC20 Token?
It’s basically a fungible token, meaning that it can represent any fungible asset. I know there are many terms but a fungible asset is just an asset that can be exchanged with some other asset of the same value. For instance, a $100 note can be exchanged for another $100 note or ten $10 notes or twenty $5 notes; it’s that simple! Digital assets like Bitcoin, Ethereum, Dogecoin, etc, are all fungible assets because they can be exchanged to corresponding value against one another. It is important to note that tokens are not cryptocurrency. A cryptocurrency has its own native blockchain while a token is built and lives on another blockchain.
Now, an ERC20 token is designed to fuel economies, it can be a governance token in a DAO or represent any kind of asset. It is the token that is built on the ERC20 standard, a scripting guideline of the Ethereum network to get tokens to work across different dApps.
By the way, there are a number of blockchains that are EVM — Ethereum Virtual Machine — compatible. This basically means that you can deploy the same ERC20 token to any of these EVM-compatible blockchains: Ethereum, Avalanche, Polygon, Moonriver, Tron, BSC, and more! If you wanna deploy your token to one of these networks, you just need to enable it on Metamask and have a bit of their…
