ERC20 token development is essential for crypto crowdfunding - Find out how
John Walder last edited by
Since the downfall of traditional crowdfunding, crypto crowdfunding has become the most prime aspect of helping to improvise your business. With this method, you can raise funds in an efficient and hassle-free manner. Also, when you choose ICO among other crypto crowdfunding you get to attract more investors regardless of essential factors. Even then, you are gifted with a few factors that could help you in raising funds efficiently.
The blockchain platform you choose
Before entering into this subject, it is essential to find out what crypto tokens are. It is nothing but digital assets that you sell to the investors to raise funds. These tokens will hold the share value of your investors. Like other stuff, these tokens also have their own reasons to decide the efficiency of your ICO.
Now, how can a blockchain platform chip in to help you? The crypto tokens you sell to raise funds reside in a blockchain platform. So, it is important that you create these tokens on a well popular blockchain platform. When you have the back of a popular blockchain, let’s say Ethereum, you will definitely have the upper hand in attracting investors. And also not to mention that these tokens you create have the capability to make use of most of the other features of the blockchain platform.
Each blockchain platform has its own fungible token standards. Some have more than one. For instance, Ethereum has ERC20, ERC223, ERC777, and so on. And each of these token standards is unique in its own way. You will have to choose the best and most suitable one among them. Most importantly it must meet the popularity criteria. With popularity, you can get to attract more investors.
How is ERC20 the prominent token standard for ICO?
Among all the other token standards ERC20 has been the most prominent for ICO. It is the only standard that could fulfill all the above requirements. A stat says that almost 70% of the tokens in the marketplace are in ERC20 standard. With this amount of popularity, you will have all the freedom on Earth to attract crypto enthusiasts who can be your potential investors. And, apart from that, ERC20 resides on the Ethereum blockchain platform. This gives free access to utilize all the features of the Ethereum blockchain.
How to create ERC20 token?
As of now, you might have an idea of the essential factor for an ERC20 token development. If not for smart contract implementation, then Creating one is not a big deal. Smart contracts are simple programs in blockchain that run with predetermined conditions. Smart contract implementation is written in solidity - a special language that requires the guidance of experts. Even a small error could cost you the whole project.
You can find an ERC20 token development company to create your tokens. But it is advisable to do some research before doing so. To avoid confusion, I’ve done some groundwork and found that Zab Technologies - a renowned blockchain development company is providing ERC20 token creation services. The interesting part here is, apart from ERC20 token development, they also provide crypto wallets suitable for your ICO to send and receive tokens. Contact them to know more.