In this modern age, many people are moving towards digitization. Because it reduces work and makes tedious tasks easy. As of now, blockchain technology is prevalent around the world with many use cases and platforms. Hope you are familiar with digital currencies and crypto tokens. These two had a huge impact on the market. But token development services are preferred by many startups and entrepreneurs often to create a unique token for fundraising.Cryptographic tokens are digital assets that have possible fintech solutions and their implementation is easy. Currently, there is an increase in the use of crypto tokens. However, new token protocols are introduced to the market. For this reason, it is increasingly difficult for startups and entrepreneurs to choose between them.
Right now, there are many token development platforms in the blockchain space. Furthermore, those token platforms are fully applied in many lines of work. In this article, let's look at the top 5 token development platforms that are going to set trends in 2021.
Before looking at this topic, let's look at an essential one.
How to choose the best token development platform?
There are some crucial factors that you need to consider before choosing the token development platform.
- Consensus algorithm
- Blockchain mechanism
- Network type
5 conventional token development platforms on the market
Top 5 token development platforms that will be momentous and prominent in 2021.
Let's see these platforms in detail
Ethereum was first founded in 2013 and is an open source blockchain-based distributed computing platform. Ethereum is very popular for executing smart contracts on a blockchain. Ethereum Virtual Machine (EVM) is essential and provides the runtime environment for smart contracts on Ethereum.
On the other hand, Ethereum is a prominent token development platform around the world. Ether is a cryptocurrency native to the development of Ethereum blockchain, these coins will fuel the ethereum ecosystem. Ethereum is the separate blockchain that has been used for ethereum token development, smart contract development, Dapp development, and much more. Ethereum is a kind of well-known domain and remains the most popular and valuable cryptocurrency after bitcoin. However, ethereum provides data security and a more reliable structure that ensures the smooth running of all underlying processes.
Anyone can join, write, and participate in ethereum because it is a permissionless blockchain platform. However, it will be slow in terms of speed because it is the Proof of Work based platform. But experts say Ethereum could change its consensus algorithm to Proof of Stake in the future. If you create an application with Ethereum, you must pay the charges in Ethereum. Thus, it helps to transact and run applications on the ethereum network development.
Ethereum has different standards for token development.
ERC20 helps to provide a smooth transaction because it has a simple interface. Developers can create multiple tokens with the ERC20 standard. By becoming part of various ICO projects, this ethereum token standard has helped many decentralized applications in different domains. ERC20 is more prominent and efficient with many productive practices compared to other token standards. Therefore, many entrepreneurs prefer the ERC20 Token Development Service .
Some essential functions make this ERC20 standard more realistic for ethereum token developers. What
- transfer from
- to transfer
- balance of
ERC721 is one of the ethereum standards and is mainly known for rendering non-fungible tokens. Therefore, this unique feature makes the ERC721 standard very valuable. The tokens created in this standard are completely different from each other with different characteristics. Cryptokitties is one of the most popular ethereum tokens. Furthermore, it was the first project to adapt to this ERC721 standard.
Technical uniformity that prevents crypto and fiat securities from running side by side can be prevented by ERC1400. It has simplified property that helps to replace difficult process with transparent environment.
An updated version of the ERC20 standard is ERC223. It comes with a feature set similar to the ERC20 standard. But this standard is primarily focused on improving the overall functionality of the ethereum token development process.
This ethereum standard helps to get more efficiency out of existing ethereum tokens. It improves the token layout and also allows many operators to join the network. In addition, it helps regulate the operation of ethereum tokens.
This standard highlights more about smart contract optimization to improve token management. It also provides non-fungible tokens and helps resolve issues that have affected encryption users.
Justin Sun in September 2017 first introduced Tron. He is the tech entrepreneur and former chief representative of the digital currency Ripple. The TRON platform development helps to gradually eliminate the need for a third party or any intermediary. Overall, 2000 transactions per second can be handled by Tron's token development platform with no problems. But only 6 TPS and 25 TPS can be handled by the bitcoin and ethereum network.
Tron is a top-level peer-to-peer blockchain network and supports large-scale business operations. This token standard will allow for a higher level of customization. This token development platform is similar to Ethereum in many ways. But Tron and Ethereum have some important differences. Like decentralization, targeting platforms, programming languagesmechanisms, transactions per second, and more.
The Tron platform improves network performance and makes it more convenient. Also, it makes it more scalable without additional tasks for token developers. Currently, many people feel that it is difficult to create a crypto token. Therefore, TRON aims to avoid this difficulty by allowing developers to share resources in the creation of Tron tokens. There are two types of standards on the Tron token development platform. Like TRC10 and TRC20 tokens.
The TRC10 standard has been widely available since it was first launched on the TRON mainnet. It is a technical standard under the Tron network without relying on the Tron virtual machine. The tokens that are developed using the TRC10 standard are compatible with all major crypto wallets. Using the TRC10 standards, most of the Tron tokens you see on the market are fully developed.
This standard from Tron helps to integrate more functions that are based on smart contracts. Tokens that are built using the TRC20 standard are known as TRC20 tokens. This token helps users to facilitate secure transactions without any hindrance. A TRON blockchain with a smart contract is essential to create a unique TRC20 token. The TRC20 standard is useful for generating tokens with the help of the TRON virtual machine (TVM). Therefore, many people are starting to use TRC20 Token Development Service .
Currently, Waves are also one of the most popular token development platforms for creating a crypto token with a different purpose. This waveform platform provides you with various features and tools that facilitate the token development process even for those who are unfamiliar with this technology. It has its own crypto token and is also popular in the crypto market.
By using this platform, multiple tokens can be developed in a short time. Also, it comes with the updated features that increase its usability. This platform emerges as a predominant crypto token solution for all users who want to make more profit in trading. Apart from this, the wide reach of the waves in different communities made many people create a crypto token under the wave token development platform.
If you want to create a token under the wave platform. Then you can use the best wave token development service to easily develop and launch your token.
Tezos is a well-known token development platform around the world. Tezos was first found in 2014 by a team of very experienced blockchain developers. Kathleen Breitman and Arthur are the co-founders of the Tezos token development platform. They conducted an ICO in 2016 and raised their funds of approximately $ 612k in 6 months.
Like Ethereum, Waves, and Tron, Tezos is also a smart contract and dApp platform But its self-modifying cryptographic mechanism makes it unique from other token development platforms. By using this platform, there is a crypto token on the market called Tez. This token development platform is not based on Tez mining. but token holders will get a reward for joining the proof-of-stake consensus mechanism.
This platform improves transaction speed by dealing with multiple crypto tokens. In addition, this platform helps generate changes that are impossible to implement on the other token development platform. This desirable feature helps developers and enables them to improve the level of development of tezos tokens.
EOS is one of the big token development platforms. EOS services include
- Decentralized application hosting
- Decentralized storage of business solutions
- Smart contract capability
- Solves the scalability problems of bitcoin and ethereum
- Eliminating fees for all users
All you need to do is choose the right cryptographic token creation service provider for token development. So you can launch a secure crypto token on any type of token development platform easily at the best price on the market.