How to Create Your Own Token on Cardano Blockchain?
Cardano is one of the blooming blockchain platforms and developing token on that is predicated as a possibility of a bright future. And creating token on Cardano (ADA) is can be easily done with the aid of the best Token Development Company, Developcoins.
In this blog, we can have a lookout about the Cardano and token creation on it.
Table Of the Content:
* Overview Of Cardano (ADA)
* Features & Benefits of Cardano
* Native Token On Cardano
* Token Development on Cardano
* Create Token On Cardano Blockchain
* Cardano Token Development
* Why choose Developcoins on Cardano Token Development?
Overview of Cardano
Cardano is a fast-growing decentralized blockchain platform that is developed based on the proof-of-stake protocol named Ouroboros. By utilizing the PoS algorithm, blocks are created and the transaction is also validated in the Cardano blockchain. This Proof-Of-Stake (PoS) consumes less energy while compared to the Proof-Of-Work (PoW) consensus mechanism.
The other major fact about Cardano is, it is also one of the smart contract development platforms alongside the utilization of cryptocurrency, known as ADA. It can also be said as Ethereum second generation since its aims have many similarities in applications like smart contract, decentralization system. The main moto of the Cardano is to make this blockchain "50 to 100 times more decentralized" while compared to the other blockchain platforms.
Here is the small history of Cardano,
Cardano project is started to built in the year of 2015 by the company named Input-Output Hong Kong (IOHK) and it is handled by the famous co-founder of both BitShares and Ethereum, Charles Hoskinson. And IOHK has created this blockchain using its own algorithm not copying from Etherum nor Bitcoin.
Features & Benefits of Cardano
Since we got aware and have an idea about Cardano, we can further know more about it like its features and benefits here,
- Fast Transaction
- Eco-friendly Blockchain
- Multi-asset Capability
- Highly Secured
- Regulatory Compliance
- On-Chain asset
- Global access
Since Cardano supports MA (Multi-Asset) it supports Native Token. This native token can be used without the need for development of smart contract.
Native Token On Cardano
Native Token enabled the transaction of multi-asset on Cardano and it can be done using ADA. This ADA is the native token of the Cardano which is used for transaction and other purposes. The tempting advantage of the native token for developers is, no need to create a smart contract for the usage of custom tokens. As the name 'Native' represents itself, that the Cordano token ledger has an in-built smart contract. So the ledger can easily support tracking down the ownership as well as transfer more than one asset.
Crypto folks can create native token on Cardano with the same functionality and feature of ERC20 like,
Payments, value transfer, exchange, rewards or incentives, access to services and products, represent voting rights, etc and also withheld the feature of utility and security token.
Alongside that, it aid to create a unique (Non-Fungible) asset that represents real estate and others.
Here is the life cycle of the Native Token,
The Native Token life cycle consists of five main phases, they are
Token Development on Cardano
The ultimate aim of developing token on Cardano is for creating an environment-friendly native token, affordability, and high security. Here we can see the working process of the Native Token on Cardano,
Based on the need of crypto folks like to create, distribute, exchange, and store they can create tokens in the following categories,
- Cardano Command-line Interface (CLI)
- Graphical User Interface (GUI)
- The Daedalus Wallet
Here we have a brief lookout about these above ways,
Cardano Command-line Interface (CLI)
Advanced users can use this command CLI for the hard fork. This command can be used in a dedicated testing environment to deploy the CLI on the mainnet when the hard fork is done.
Graphical User Interface (GUI)
This process is held after the launch of the CLI, which provides an easy way for token creation.
The Daedalus Wallet
This Daedalus wallet provides support for token exchange, selling, and receiving the custom token.
Another wallet is also available for the usage of ADA, which is known as the Yoroi wallet. It can be easily used by people because Yoroi is EMURGO's one-click installation and can be used in day-to-day life in web-based extension or by downloading its app.
Create Token on Cardano Blockchain
So, after knowing about the Native Token of Cardano, interested and tempted peoples can create their own token on the Cardano blockchain. And it can be easily done by the well-vase experienced blockchain and cryptocurrency developers who are widely available in Developcoins. Since Developcoins is the leading token development company in the global market, it provides the high-tech token of any existing blockchain platform that includes Cardano too.
The basic things to be noted before creating a token is,
- Token Name
- Token Symbol
- Token Icon
- Token Description
- Cardano Wallet address
Cardano Token Development
In Developcoins, the tokens are created by a step-by-step process, which is described below. It is suitable for any token creation that includes Cardano token development too.
Business Consultation - Where we can discuss and decide on which blockchain platform token can be created and other specifications related to it.
Wireframe - A rough graph of the token
WhitePaper - It is a written format of the entire model of the token, which has every detail in it so it can aid in the business development.
Token Development - Then, tokens are created as planned by the expertise.
Token Launch - Finally, after the successful testing of the token development it can be launched in the global crypto market.
ICO Token - If necessary, peoples can also develop ICO token alongside the creation of a token. Which can be a great aid in business platform.
Why Choose Developcoins on Cardano Token Development?
Developcoins is one of the best Token Development company because it offers end-to-end Token development services which means it provides all the services related to token creation. The token is created in Developcoins by the well-trained cryptocurrency developers who are trained by the long-last crypto industry experts.
The benefits of creating Token in Developcoins is listed below,
- High-Tech features
- Whitepaper Writing
- Involvement of latest techs & tools
- High Security
- Smart Contract Development
- Easy Transaction
- Technical support
- Fork a Coin
- Quality Assessment
- ICO Development
- Deliver projects on time
- Support for the project even after the successful launch
And various other benefits can be easily attained here both technically and non-technically.