7 Top Blockchain Platforms for Token Development in 2021
Token Development Technologies:
As the token development technologies mature and the adaptability of online space rapidly grows, the way of developing a feature-rich token gets well more complicated. Even now it’s not that easy to fulfil the customers with a basic token presence as everyone wants to see you updated as per the latest technological trends.
However, the difficulty can be reduced largely if your token developers are well-versed with the latest token development technologies like blockchain development, IPFS, virtual reality, Augmented reality, crypto chatbot development, etc.
As there is a huge number of blockchain platforms available currently, it can be a challenging task for you to choose the right one for your next token development project. In the same way, hire token developers who are efficient enough can be another tough decision for many business and startup owners.
Here in this blog, we are going to discuss the top blockchain platforms for token development used by top token development companies so that you can get quality work in less time and cost.
Top Blockchain Platforms for Token Development
As proficient blockchain developers, we did thorough research and shortlisted the top 7 blockchain platforms for your custom token development needs.
Let’s start with Ethereum:
If you are a bit updated about the latest blockchain technologies, then Ethereum is a familiar name to you. Ethereum is a decentralized blockchain platform designed for running smart contracts. Smart contracts are the quantity of code stored on the blockchain that can read and write data and are activated by blockchain transactions.
Smart contracts are important because they allow for the development of decentralized applications (DApps) that can automate processes and run exactly as programmed with no action of downtime.
The native currency for Ethereum is called Ether (ETH) and it powers the blockchain platform through transaction fees. However, one of the biggest features of Ethereum is the capability for anyone to create unique tokens that exist and operate on the Ethereum blockchain.
ERC stands for Ethereum Request for Comments. ERCs are application-level standards for Ethereum blockchain and can include token standards, name archives, library/package formats, and more.
Here we will focus on common ERC token standards. These standards explain a required set of functions for a token type, decentralized applications and smart contracts to interact with them in a certain way.
ERC-20 is a token standard and it is a simple interface that allows for the development of tokens on the Ethereum blockchain network that can be re-used by other applications, from wallets to decentralized exchanges. It is also the most commonly used standard for Ethereum-based tokens and was the token of choice for many of ICO's projects.
The ERC-20 standard consists of 6 key functions that must be completed to meet the standard. The functions are:
ERC-20 tokens are relatively easy to create – so many ERC-20 contracts deployed on the Ethereum blockchain.
Explore here - ERC20 Token Development
ERC-721 is a token standard that determines non-fungible tokens (NFTs) on the Ethereum blockchain. The ERC-721 standard is to allow anyone to create tokens on Ethereum that are completely unique from one another.
ERC-721 tokens can be used to symbolize ownership over assets, and the use cases are just starting to be analyzed. This includes real assets such as land, houses, or unique art, and virtual assets like digital collectibles.
CryptoKitties is one project utilizing ERC-721 tokens that gained mainstream attention in the crypto market.
Explore here - ERC721 Token Development
It is an innovative security token standard that is developed exclusively to bridge the gap between crypto and fiat securities. The ownership is assigned properly, replacing the paper works and simplify the process.
Explore here - ERC1400 Token Development
ERC223 is much like ERC20, only advanced and better than the ERC20. In a short, ERC223 is an improved and modified version of the ERC20.
Explore here - ERC223 Token Development
Another standard aiming to improve upon the ERC-20 token. It explains advanced rich features including operators to send tokens on behalf of another address and offers users more control over their tokens.
A simple interface that allows smart contracts to manage multiple token types. A deployed smart contract may include any combination of fungible tokens, non-fungible tokens, or other types (i.e. both ERC-20 and ERC-721).
EOS is one of the best blockchain platforms built decentralized applications that are highly valued by developers as a powerful blockchain platform for creating hybrid tokens that are similar to Ethereum in function. It’s only useful in that developers developing applications on the EOS platform must use them to create their specific application tokens.
Currently, there is a large number of individual developers and token development companies that choose the EOS blockchain network as their preferred token development technologies. This network is also open source and also provides you an Operating system with a handful of services and functionalists that is necessary for Decentralized applications. Hence, if you have a knack for EOS technologies, then you must hire EOS blockchain developers for your next token development projects.
Tron is a decentralized blockchain network that’s well suited for large-scale or complex enterprise-level token development. However, Tron blockchain network core functions is also similar to other blockchain networks like Ethereum. Tron blockchain network helps token developers create scalable tokens that are flexible to changing business needs.
The Tron blockchain network focuses on expanding the market of decentralized digital content applications by making it easier to create and deploy them. These are the reasons that make Tron is an advanced blockchain network for Token & decentralized application (dApp) development.
Read more: What is Tron Blockchain?
The most popular token produced on the Ethereum blockchain is ERC20, whereas, TRC10 and TRC20 are both termed as tokens.
TRC10 tokens were launched on TRON mainnet for the first time and they have been available on the same since then. Compared with Trc20, Trc10 has been more popular and offers a flexible blockchain which makes the development process easier.
TRC20 token gives an ecosystem that allows developers to integrate various functions in a smart contract allowed architecture. TRC 10 and 20 are both generated from the TRON blockchain. For many reasons, TRC20 is believed to be related to ERC20.
Explore here - Tron Token Development
Tezos is a decentralized blockchain network that has revolutionized the token development industry. It has become the most demanding token development technology these days creating tokens to support smart contracts and decentralized applications (Xapps) for every industry.
Tezos blockchain networks that developed dapps and on-chain governance. And it’s first self-evolving blockchain network. The purpose of the Tezos project is to create a secure and reliable smart contract platform in which digital assets and financial applications can be created and utilized.
Tezos blockchain platform allows you to create your own token that is working standard that can be used by anyone and has similar features to the ERC20 and ERC223 contracts (namely being able to send tokens to smart contracts).
Tezos blockchain network is a big thing for token developers this year among other surprises. Hence, you can create your token on this blockchain network and hire token developers for your next project.
Read more: What is Tezos Blockchain?
Minter is also one of the popular blockchain networks that are fully featured with advanced technology. This is also one of the token development platforms that help in the faster creation of token, along with its simple term.
Minter blockchain network provides advantages for other blockchain networks like Ethereum, EOS, Tron and more which makes it one of the top tokens.
Minter blockchain networks allow people or organizations to create, exchange and manage their own crypto tokens. The users can set the price for their own crypto token and exchange them unlimited with instant liquidity. Simply, the minter network is a platform where the users can create their own coins and can exchange them for other cryptocurrencies and fiat currencies like the USD.
The Minter blockchain itself is developed with the Tendermint Consensus Engine inside, the technology behind Cosmos Network that develops Minter network undoubtedly suitable with many ongoing and upcoming projects of this promising ecosystem.
The major token benefits of Minter are given below:
- Faster Development
- Long-term Support
- Allow users to create and set price for their own token
- Easier maintainability
- Better security
- High flexibility
- Proven reliability
For detailed discussion read: What is Minter Blockchain?
Waves are currently one of the familiar blockchain platform used by core businesses for creating own custom token. This is one of the top custom token development blockchain platforms that comes with brilliant and innovative features of token development.
Waves blockchain networks allow you to create your own custom token within minutes and it also includes a decentralized exchange (DEX) in which you can trade your newly created token in a trading pair with any other Waves token.
By way of Waves, you can also launch your own ICOs to raise funds your project from around the world in a less than minutes, without going through in-depth cryptocurrency coding. This will make life simple for startups and open up a new era of community-backed projects.
Want to create your own token on Waves Blockchain platforms? Hire token developers from Developcoins, An expert in token development for start-ups and organizations. Contact us Today!
This is one of the easiest & one of the best open-source, distributed, and community-owned blockchain network used to facilitate cross-asset transfers of value. The native cryptocurrency of Stellar is called Lumens (XLM). However, Stellar can also support other tokenized assets on its own blockchain network.
Stellar blockchain network allows the user to create own token aside from Lumens. Like the Ethereum blockchain network, the stellar blockchain network also houses of other token types. Due to tokens being able to be issued, exchanged, and transferred via the Stellar Network.
Hence, this blockchain platform is well deserved to stay in the top token development blockchain platforms list and consider this a crucial part of your next token development project.
The above-mentioned blockchain platforms are the key ones we thought of sharing with you. Nevertheless, there are a few more like Ripple, Qtum, Aelf, etc. to develop a token as per your needs.
Binance Smart Chain
Binance Chain is a type of blockchain project which was initiated by the Binance community in April 2019 it brings a new level of freedom for traders, as well as to projects that are looking to raise money or liquidity.Binance Smart Chain is the next update of Binance Chain and it will run parallel in the Binance Chain it is also called a BSC and it enables the creation of smart contracts for tokens on the Binance blockchain and also introduce an all-new staking mechanism of BNB it is expected to greatly increase the utility to both Binance Chain and BNB. BSC creates an ecosystem where validators, token holders, developers, and users get benefits from a rewarding blockchain that can offer high performance and also give space for further innovations.
BEP-20 is a standard token on Binance Smart Chain (BSC) which is similar to the ERC20 standard token one of the famous Ethereum Token Standard. BEP-20 contained specified technical aspects for a Binance smart chain (BSC) the main aim of this token is to provide a flexible format for developers to launch a wide range of tokens on Binance Smart Chain. BEP-20 Tokens are fully powered with a BNB. It allows any tokens on Binance Smart Chain to be used by another application from wallets to decentralized exchanges in a consistent way, this standard interface also extends ERC-20 to facilitate the cross-chain transfer.
Read More: - Binance Smart Chain BEP20 Token Development
How to choose the best blockchain platform for your token development?
Before you decide to move to use the Blockchain platform for token development, it becomes imperative to understand, what are the different aspects of the Blockchain platform that you are considering. Here are some of the parameters that you need to look at :
- Kind of network
- Language used
- And the consensus algorithms and mechanism
Once you have found a platform matching all your requirements, you can go ahead with it.
Many token development companies are searching for new and innovative ways to utilize the latest technology. Hence, they are offering custom token development solutions, smart contracts development, crypto wallets development, Ethereum development and much more.
The bottom line
When finalizing your decision let us remind you that it is never about the N number of outstanding features that a particular blockchain network provides. It’s about the actual functionality of the blockchain and how the functionalities can be utilized by token developers for particular needs. Hence, choose one of the blockchain networks as per your project needs and save time and cost by availing of custom token development services.
Hire token development services from Developcoins (a leading token development company and ranks as one of the top cryptocurrency development companies for startups) employ some of the best token developers who are delivering the best token development solutions to clients. Developcoins is very much happy to assist you if you have any queries in this regard. Get in touch with the best token development company in India at @ [email protected] or call us anytime at +91 9843555651
In case you think there are more such blockchain platforms, please share it with us in the comments section below. For any requirements please get in touch with us.