For crypto enthusiasts, you must follow all the recent developments that are happening in the crypto world. The concept of ERC20 Token Development is one such major advancement of which you should be aware.
In this article, we will discuss ERC20 Tokens in a detailed manner. We will also take a dig at ERC20 Token Development Cost and its associated factors.
What is ERC20 Token?
The ERC is an abbreviation for Ethereum Request for Comments. It means that ERC was meant to be such a forum where all the developers could have posted their inputs regarding any new token.
The Ethereum platform is decentralized same as other coins. All the tokens developed from this blockchain network would be having the same disposition.
The ERC20 token is unique from other tokens due to its outstanding functioning as a smart contract. Generally, it has been observed that ERC20 Token Development occurs to fulfil certain purposes such as Initial Coin Offering, Security Token Offering, and Initial Exchange Offering.
After getting an overview of ERC20 Tokens, let us discuss some of the features of these tokens.
Features of ERC20 Tokens
Some of the major features of ERC20 Tokens are as follows:
High Liquidity Level
Liquidity is the basic feature of any crypto token. It is a fact that just after the launching of any token, crypto enthusiasts will evaluate the liquidity token of a particular token. Tokens, which would be having a high level of liquidity will be preferred more by investors due to the shorter time to convert into cash.
One of the major features of the ERC20 token is that it possesses a high level of liquidity. It means a token holder would be able to convert these tokens into cash quickly and without any complex process.
Advanced Security Features
Security has become one of the major factors of concern in the field of cryptocurrency. If a token will not be equipped with advanced security features, the number of investors for that particular will be less.
An ERC20 token is a secured crypto token. It incorporates all the modern security-related features so that the investment of crypto investors does not go into the hands of hackers and all the transactions done on the digital platform remain safe.
Some of the security features incorporated in this token are end-to-end encryption, KYC/API, and Two-Factor Authentication.
Smooth Creation Process
The creation process of a crypto token either encourages or discourages business organizations to create a specific token. ERC20 Token gets a competitive advantage in this aspect as the process of creation could be completed with much ease and smoothness.
Global Acceptance
ERC20 Token Development takes place on Ethereum which is one of the most popular blockchain networks. Due to the popularity of this network all around the world, ERC20 Tokens are equipped with a feature of global acceptance.
You can do transactions with these tokens from every nook and corner of the world.
Cost to Create an ERC20 Token
It is a basic human tendency that before buying or creating anything, we want to know about its cost. The cost of developing ERC20 Tokens depends on several factors. Some of those factors impacting the development cost are discussed as follows:
Features of the Token
This is a major factor on which the cost of the ERC20 token will be dependent. It means the cost will differ based on the features you will be including in your crypto tokens.
The complexity of the Project
Each crypto project is different in itself. The complexity of each crypto token project will differ. The cost of developing ERC20 Tokens will be dependent on the complexity of each project.
Number of Tokens Issued
The number of tokens that will be issued will differ from business to business and this factor would be playing a major role in ERC20 Token Development Cost. If your business venture would be issuing more tokens, the cost will be more or vice-versa.
Selection of Blockchain Developer
There is an ample number of blockchain developers in the market however, choosing the best ERC20 Token Development Company is a complex task like finding a needle from a haystack. Each development company has its packages for creating ERC20 tokens which would impact the overall cost of the project.
It is a general estimation that creating millions of ERC20 tokens will typically cost you between $500-$2000 if you are launching a decent ICO project.
Why Choose Coin Developer for ERC20 Token Development?
Coin Developer, India is a prominent ERC20 Token Development Company in the cryptocurrency industry. We have a group of knowledgeable and experienced blockchain developers who specialize in making unique ERC20 tokens according to your company’s needs. Our developers will incorporate all cutting-edge capabilities and security-related elements into the crypto tokens they create.
We pride ourselves on prompt delivery and cost-effectiveness in our ERC20 Token Development Services because we believe in keeping our word. We guarantee that employing us as your blockchain developer will serve as a significant milestone in achieving your business goals because we have an endless list of loyal clients.
Develop ERC20 Token, Call and Whatsapp: +91 7240607737 | Email: [email protected]
