A token generator simplifies the tokenization process through automation while integrating custom tokenomics and ensuring privacy.
Token generators streamline the process of token creation with automated drag-and-drop functions, eliminating the barriers to tokenization that cryptocurrency enthusiasts with little to no programming knowledge typically face.
Tokens represent particular utilities or assets. Tokenization effectively converts something valuable into a digital token that blockchain-based applications can then effectively use. Depending on one’s desired utility, tokens can represent either tangible or intangible assets.
Tangible assets are those with physical forms, such as real estate, physical artworks or gold. Intangible assets, on the other hand, may refer to things like licensing, ownership rights, loyalty points or voting rights.
Developers traditionally create tokens by writing code in a programming language that the particular protocol can understand. Creating an ERC-20 token on the Ethereum blockchain, for example, will require one to determine the token’s unique specifications, codify the smart contract, test the token, and verify its source code.
Needless to say, one would need a lot of technical knowledge to successfully understand (and implement) how digital tokens are created. With a token generator tool, however, one can create the same ERC-20 token in as little as 10 minutes — and with zero coding.
On CoinTool, for example, one will need to connect their cryptocurrency wallet to the app and start creating a token on their desired blockchain. Features can be added through a series of simple steps, such as defining the token’s name and token supply, as well as adding features and mechanisms for minting and burning.