How does cryptocurrency work? Exactly how does cryptocurrency work? Who can create cryptocurrencies? Will someone without a blockchain background be able to create a cryptocurrency? Many of us have wondered about these questions once in a while over the past few years. The purpose of today’s article is to explain the process of creating a BEP-20 token.
The best way to understand the inner workings of cryptocurrencies is probably by creating your own digital token create a bep20 token Binance Smart Chain provides anyone with the option to create their own BEP20 token.
What is Binance Smart Chain
Choosing the right blockchain platform is the first step in creating your own cryptocurrency.Binance Smart Chain (BSC) is the platform you should use if you want low fees, fast transaction times, and support for smart contracts.
Binance Smart Chain is a chain that runs parallel to Binance Chain, specifically designed to support decentralized applications (DApps) and smart contracts.
How to Create a Bep20 Token
It is important to remember that creating a BEP-20 token is similar to creating a token on Ethereum or BSC. Programming and tools are similar in both cases. It only takes two tools, Remix and MetaMask, to create a BSC token using Solidity.
- Click on Token Create
- Then fill in all the details
- Then click on Create Token and approve the transaction.
You can access step one’s link in the Trust Wallet Dapp Browser by typing in cointool. App/BnB/BSCCreateToken in the address bar. The top-right network setting must state Smart Chain.
You will need to name your token and assign it a symbol in step two. The number of decimal places each token can be divided into, as well as the quantity of the token’s initial supply, should also be specified.
How to add Test BNB to your wallet
The next step will be to get some BNB to experiment with. BNB is BSC’s native currency. A BNB is what an ETH is to Ethereum. Let’s head over here to get some test BNB.
For BNB to be sent to your wallet, copy the wallet address from the MetaMask browser extension and paste it into the BNB field. Now that we have some fresh BNB burning a hole in our wallets, we can go shopping!
Token deployment
The initial BEP20.sol has now been written, and it can now be deployed on the BSC Testnet.To change the compiler version of BEP20.sol, click on the Solidity compiler tab and select “0.8. 0+commit.c7dfd78e”. Select “Compile BEP20.sol” from the blue menu.
Your contract is now ready for deployment! Click the “Deploy & Run Transactions” tab in Remix and switch to the “Environment” tab to become a user of Injected Web 3. MetaMask may ask for confirmation if you have not connected to Remix previously.
Your Address should be displayed under the Account field in MetaMask after it has been connected to Remix. If that is the case, you can now select the BEP20 contract from the drop-down menu. The orange deploy button should be to the right of the form. The initial supply parameter can be passed as an argument here.
I’m going to create 100 tokens. To do that I’ll enter 100000000000000000 and click on “Deploy”.There will be a fee for deploying something to the network if you accept a MetaMask transaction.
Your Wallet: Added the Token
You will need to click on Add Token under the “Assets” tab in order to see this in MetaMask. Once you click this, you will be taken to a menu that shows 3 fields. You should see all of the fields auto-populate when you paste in the Contract address from Remix. You can then accept the token.You should see something similar at the end.