How Much Does it Cost to Create Ethereum Tokens?
Ethereum Token is a predominant one and it became a demanding usage among the business people. Most of the start-ups and entrepreneurs are beginning to utilize this beneficial Ethereum token for the various purposes to develop their business. In this article, we have to see exactly about What is Ethereum Token, What is Ethereum (ERC) Token Standards and also we have to see about how much does it cost to create ethereum token
Table of the content
- What is Ethereum?
- What is Ethereum Token?
- What are the Ethereum (ERC) Token Standards?
- What is ERC-20 Token?
- What is ERC-223 Token?
- What is ERC-1400 Token?
- What is ERC-721 Token?
- What is ERC-721x Token?
- What is ERC-827 Token?
- What is ERC-777 Token?
- How Much Does it Cost to Create Ethereum Tokens?
What is Ethereum?
Ethereum is constantly growing large, it is an open software platform based on a blockchain technology that enables developers to develop and deploy decentralized applications, Ethereum is one of the most used blockchain networks and it was specialized in smart contract functionality This Ethereum was developed by Vitalik Buterin, Mihai Alisie, Anthony Di lorio, and Charles Hoskinson.
What is Ethereum Token?
Ethereum is a distributed public blockchain network and Tokens are running on the blockchain network. Ethereum tokens are backed by assets on a blockchain peer to peer network and it can be traded or exchanged like Bitcoin and other cryptocurrencies. ERC Token Standards is playing a major role for all blockchain-based projects.
What are the Ethereum (ERC) Token Standards?
ERC stands for Ethereum Request for comments states that a unique ID number is to distinguish the standards from others. All ERC is authored by Ethereum community developers. There are a lot of Ethereum tokens with different smart contract standards they are
- ERC777 and more
What are ERC20 Tokens
It is one of the types of Ethereum token and it was created on the ethereum blockchain, An ERC20 tokens can be easily integrated into blockchain wallets and exchange platforms, ERC20 standards can be easily transferred from one account to another as a payment, ERC20 Tokens are created with the Ethereum Smart contract and also it is the best and most used one in the smart contract. ERC20 tokens are using high-level oriented programming with Solidity syntax. An ERC20 token is taking a minimal cost and time to launch on the market.
Maximum numbers of tokens are mainly built through the ERC20 standard due to its unique features.
What is ERC-223 Token?
ERC-223 is one of the token standards with high efficiency and its improved speed and security and also it is the improved version of an ERC-20 token. It is also called a superset of ERC-20.
By using ERC-223 for smart contracts can make business much better. ERC-223 token is helpful to prevent the token losses while transferring tokens.
What is ERC1400 Token?
ERC1400 token is an innovative security token standard it was created by polymath along with numerous external contributors, ERC-1400 works with several other token standards to manage both Fungible and Non-fungible token, it was the combination of both ERC-20 and ERC-777 standards and it will ensure that security tokens are often backed by real-world assets. ERC-1400 security token development is the latest protocol and it was initiated by a few months ago.
ERC1400 Token is used to available both on small and big businesses around the world and also it gives the best result of the transaction. By using ERC-1400 tokens Holders can be the sole owner of their token and also it gives an option to recover the funds easier.
What is ERC-721 Token?
ERC-721 Token is a type of unique token and it was mainly used for Gaming purposes, ERC-721 tokens are the advanced version that is mainly used in the Gaming platforms. In ERC-721 token each token can hold a different value. ERC-721 token is also called a Non-Fungible Token. Non-Fungible tokens are not interchangeable and not divisible.
Cryptokitties are the most popular games made by this ERC-721 tokens. The ERC-721 has quickly gained popularity and expanding the scope of serious implementation.ERC-721 is not similar to another token due to its non-fungible functionality. ERC-721 standard token was introduced to allow anyone to create tokens on Ethereum blockchain that are entirely unique from one another.
ERC-721 tokens can be used to represent ownership over assets, includes physical assets such as land, houses or virtual assets like digital assets.
ERC721x Token is also called a smarter token specially built for users to exchange crypto collectibles. ERC721x is an extension of ERC-721 that can be support for more multi-fungible tokens, This ERC-721x tokens can be used with any ERC-721 compatible wallet, market place or service.
ERC-721x is the best choice for Gaming purposes and ensure less usage and lower fee. ERC-721x smart contract offers it, users, the ability of crypto-collectibles of different classes. By using ERC-721x Token the transaction process is seamless and it is possible to benefit the players.
ERC-827 Token is nothing but it is an extension of ERC-20 Token and it is the latest standard on the ethereum network. It can allow the token to be transferred. Ethereum users can transfer the value and data by using this ERC-827 Token. ERC-827 is going to be rather popular among new projects and upgrades to the current or past projects.
ERC-827 builds on the original ERC-20 Framework through its inclusion of transferring data and value plays a big role in making it a new token standard. An ERC-827 can transfer the value that contains equity, money, shares, etc as well as data.
ERC-777 Token is mainly build to fix the security issues of ERC-20 and it is a new way to interact with the token contracts. ERC-777 is a type of digital token used to improve blockchain usability more secure and it is the new way to interact with the token contract while adding more functions to the contract creators, token holders, and recipients.
We hope that now you all are cleared about What is Ethereum Token and its types
Let’s see about How much does it cost to create Ethereum Tokens?
The range starts from minimum to maximum and it can be depended upon the concerning ideas and also it depends upon your ERC token standards like the above-mentioned tokens.
Ethereum Token Development is needed to be handled by the expert technical team.
In order to create a token, you need to mention the Token Name, Token Symbol, Token Decimal places, Number of Token is circulation, Code of contract, Verify the Source code.
The cost to create tokens is also depended upon a few things such as token features, token design, token platform token testing, and distribution.
Most of the ERC standard token creation range starts from $2k to $5k and it may differ how many tokens you need for your project. For example, ERC-20 tokens are cost around $6k which can be integrated with smart contracts and it depends upon your standards.
If you have any idea to create your own ERC standard tokens? You are in the right place.
Yes, Developcoins is the renowned Ethereum Token Development Company that offers a highly reliable and secure Ethereum Development Services by using efficient smart contract and blockchain technology. You can build your own ethereum token on any ERC standards with the help of our highly skilled developers. The team of dedicated blockchain developers is specialized in creating tokens with a suitable set of protocols.
Our wide range of ERC Token Development Services which includes
- Token Creation
- Token Transfer
- Listing on Exchange
- Token Web Wallet
- Cold storage
- Verify on Etherscan
Before you want to create your Ethereum Token, You must be cleared about which tokens will be suitable for your blockchain projects and it must be essential to ensure your platforms.
Further Reading - 7 Top Blockchain Platforms for token development!