7 Top Blockchain Platforms for Token Development

7 Top Blockchain Platforms for Token Development in 2020 www.developcoins.com

As the token development technologies mature and the adaptable of online space rapidly grows, the way of developing a feature-rich token gets well more complicated.

Even now it’s not that easy to fulfill the customers with a basic token presence as everyone wants to see you updated as per the latest technological trends.

However, the difficulty can be reduced largely if your token developers are well-versed with the latest token development technologies like blockchain development, IPFS, virtual reality, Augmented reality, crypto chatbot development, etc.

As there is a huge number of blockchain platforms available currently, it can be a challenging task for you to choose the right one for your next token development project. In the same way, hire token developers who are efficient enough can be another tough decision for many business and startup owners.

Here in this blog, we are going to discuss the top blockchain platforms for token development used by top token development companies so that you can get quality work in less time and cost.

Top Blockchain Platforms for Token Development As proficient blockchain developers, we did thorough research and shortlisted top 7 blockchain platforms for your custom token development needs.

Let’s start with Ethereum: If you are a bit updated about the latest blockchain technologies, then Ethereum is a familiar name to you. Ethereum is a decentralized blockchain platform designed for running smart contracts. Smart contracts are the quantity of code stored on the blockchain that can read and write data and are activated by blockchain transactions.

Ethereum Smart contracts are important because they allow for the development of decentralized applications (DApps) that can automate processes and run exactly as programmed with no action of downtime.

The native currency for Ethereum is called Ether (ETH) and it powers the blockchain platform through transaction fees. However, one of the biggest features of Ethereum is the capability for anyone to create unique tokens that exist and operate on the Ethereum blockchain.

ERC Standards ERC stands for Ethereum Request for Comments. ERCs are application-level standards for Ethereum blockchain and can include token standards, name archives, library/package formats, and more.

Here we will focus on common ERC token standards. These standards explain a required set of functions for a token type, decentralized applications and smart contracts to interact with them in a certain way.

ERC20 ERC-20 is a token standard and it is a simple interface that allows for the development of tokens on the Ethereum blockchain network that can be re-used by other applications, from wallets to decentralized exchanges. It is also the most commonly used standard for Ethereum-based tokens and was the token of choice for many of ICO's projects.

The ERC-20 standard consists of 6 key functions that must be completed to meet the standard. The functions are: totalSupply | balanceOf | transfer | transferFrom | Approve | Allowance

ERC-721 ERC-721 is a token standard that determines non-fungible tokens (NFTs) on the Ethereum blockchain. The ERC-721 standard is to allow anyone to create tokens on Ethereum that are completely unique from one another.

ERC-721 tokens can be used to symbolize ownership over assets, and the use cases are just starting to be analyzed. This includes real assets such as land, houses, or unique art, and virtual assets like digital collectibles.

CryptoKitties is one project utilizing ERC-721 tokens that gained mainstream attention in the crypto market.

EOS EOS is one of the best blockchain platforms built decentralized applications that are highly valued by developers as a powerful blockchain platform for creating hybrid tokens that are similar to Ethereum in function. It’s only useful in that developers developing applications on the EOS platform must use them to create their specific application tokens.

Currently, there is a large number of individual developers and token development companies that choose the EOS blockchain network as their preferred token development technologies. This network is also open source and also provides you an Operating system with a handful of services and functionalists that is necessary for Decentralized applications.

Tron Tron is a decentralized blockchain network that’s well suited for large-scale or complex enterprise-level token development. However, Tron blockchain network core functions is also similar to other blockchain networks like Ethereum. Tron blockchain network helps token developers create scalable tokens that are flexible to changing business needs.

The Tron blockchain network focuses on expanding the market of decentralized digital content applications by making it easier to create and deploy them. These are the reasons that make Tron is an advanced blockchain network for Token & decentralized application (dApp) development.

Explore more here 7 Top Blockchain Platforms for Token Development

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