Blockchain is the backbone of Digital Cryptocurrency. Blockchain is a distributed ledger that maintains records of all user transactions. Likewise, Ethereum is a blockchain-based platform known for its cryptocurrency. The blockchain technology which powers Ethereum launch a P2P network that securely executed and verifies application code, known as Smart Contract. Smart Contract facilitates the users to transact with one another without the involvement of central authority. Traction records are verifiable, immutable, and securely distributed across the network, providing users with complete ownership and visibility into transaction data.
Overview of ERC20 Tokens
ERC20 is the robust standard of the Ethereum blockchain. ERC20 has a unique Smart Contract that differentiates ERC20 from other blockchains. ERC20 tokens are developed for numerous purposes such as trading, purchase, stacking, and crowdfunding (STO, IEO, and ICO), etc.
ERC20 tokens are blockchain assets that maintain few values similar to Ether (native currency of Ethereum). To build an ERC20 token, the blockchain developers must combine all rules and regulations. Building an ERC20 token once understanding the concept will yield high scalability.
There are some major benefits to the creation of the ERC20 token. Come, let’s see about the benefits in the following section.
Benefits of ERC20 Token Development
The ERC20 token is developed with high-security features. Currently, hacking is a quite common incident taking place frequently. So more security is needed to maintain digital currency more securely. ERC20 tokens utilize features like KYC/API, 2 FA, and End-to-End encryption which provide a well-secure token.
Whenever a new token is launched in the market, each crypto investors mainly focus on its level of liquidity. Whereas liquidity means the time at which assets are converted to cash. An ERC20 token is more advantageous as it simply converts tokens to cash shortly. This is the main reason why investors go with tokens for investment purposes.
Faster & Effective Transactions
ERC20 tokens support you to perform transactions more rapidly, especially for utility billing. Because of its quality of performing effective transactions, it has become the most demanded one.
Creation is Easy
You can simply create an ERC20 token. But it is highly recommended to go with an experienced blockchain developer to create an efficient Ethereum token
There are a few peculiar reasons to create an ERC20 token. Now let’s discuss some of the reasons to create an ERC20 token.
Reasons for Developing ERC20 Tokens
- ERC20 is simple to deploy compared to other tokens.
- They are entirely implemented in a decentralized manner with the support of EVM.
- Issues can be simply resolved in ERC20 tokens.
- Most peculiar is that ERC20 is the famous token in the crypto ecosystem.
- ERC20 is a globally accepted token.
- An ERC20 token is broadly utilized and has created a big community.
- The high-level programming skill is not needed to develop an ERC20 token.
- ERC20 tokens are supported and accepted in all crypto exchanges.
- ERC20 tokens could be preserved in all crypto wallets.
In focusing on these reasons, several evolving firms will be focused to create ERC20 tokens. ERC20 token development company provides numerous benefits in token creation as well as for the users.
Now let’s discuss the cost to create an ERC20 Token.
Cost to Create an ERC20 Token
Before preferring to create or buy the token, one must know about its cost. The cost of building an ERC20 token is confined by some factors. Now, let’s see about those factors briefly.
Characteristics of a token
The development cost of the ERC20 token depends on the features included in the token. The development cost vary based on add-ons according to your business requirements.
The complexity of the token
If you want to include any new features in your ERC20 token. Then the cost of token development depends on the token’s complexity.
Quantity of token
The count of tokens selected to be created would also play a key role in the ERC20 token development cost. More the creation of tokens will result in more development costs.
Design of your token
If the designing of an ERC20 token is a difficult task, then the development cost might change. The token design also impacts ERC20 development cost.
Size of the development team
The company that creates your ERC20 token will conclude the cost of creating an ERC20 token. If you are interested in the creation of numerous tokens then there is a need for numerous developers to create ERC20 tokens. These are some of the factors that play the main role in impacting the cost of creating ERC20 tokens. Averagely the cost may range from $4K. This cost may vary depending on your business needs and complexity.
Where To Create Your Own ERC20 Token?
As a popular Ethereum Token development company, Zodeak outstands in crypto token development company and offers you the best ERC20 token development services. Our token creators are highly knowledged coders and marketers who support the clients with the creation of your own ERC20 token depending on their business needs.
The service charge for the ERC20 token depends on your business needs and the development cost is based on the number of services you hire and the number of features you required in your token.
Our ERC20 token development services include
- Token Creation
- Token Web Wallet
- Token transfer
- Verify on Etherscan
- Cold storage
A best-qualified ERC20 token can be created only with Zodeak. Here let’s see…
Why Choose Zodeak to Create an Affordable ERC20 Token?
Zodeak is a recognized Ethereum Token Development Company in the crypto industry. We are experts in creating ERC20 tokens with added exclusive features. We have a first-class team of experienced and skilled blockchain developers. Our team will work with complete dedication to deliver excellent ERC20 tokens to our clients globally. We have the potential to deliver products or services on time in an affordable price.
ERC20 token developed from Zodeak would induce feature-rich security features without any bugs. Zodeak not only excels in ERC20 token development but also provides ICO scripts and other token development services.