How can token creation influence your ICO?
John Walder last edited by
Raising funds is the most efficient way to implement ideas into a new business. But, isn’t it important to raise funds in a hassle-free way? ICO could be your answer to this question. Initial coin offerings have been the major source of crowdfunding since 2017. About $252 million were raised through ICO in 2017.
ICO is an effective way of crowdfunding. But you can make it even better. Every ICO requires crypto token creations to raise funds. These crypto tokens are provided to the investors that represent their share. This specific part plays a major role in attracting investors. Yes, there are many blockchain platforms out there where you can create your tokens. Each platform has different token standards.
How do the blockchain platform and its token standards influence the ICO process?
Each blockchain platform is specialized in its own way. In simple terms, each blockchain platforms are unique in their own way. Unique represents the popularity, transaction speed per second and cost, and so on. If your investors are happy with the blockchain platform or are familiar with it, then their chances of investing might also increase.
Apart from blockchain platforms, there are token standards. Like ERC20 for Ethereum, TRC20 for TRON, and so on. Among these token standards, ERC20 - the fungible token standard of the Ethereum blockchain is the most recommendable standard. It has the popularity that could outsource any other standards. A stat provides that almost 70% of the crypto tokens in the marketplace are of ERC20 standard. This popularity is what you will need to make your ICO successful.
How to create your own ERC20 token?
Creating an ERC20 token is all about smart contract implementation. Smart contracts are like runes carved in stone. It is immutable and requires high-level expertise to implement. You can go with finding an ERC20 token development company and listing out your requirements to them. They will provide you with the needful token development services and proceed ahead.