Manual on how to create a token on Credits’protocol.
To escape any confusion we would like to first give a definition for crypto token and coin.
Crypto Coin - is a virtual asset built on its blockchain. An example of a coin is the CS, based on Credits blockchain. The coin is also sometimes called a native coin.
Crypto Token - is a virtual asset, which is managed by any smart contract and underlying distributed ledger, which is created on a blockchain protocol (not his native).
The other distinction between token and coin lies in their functionality.
A coin normally serves as a medium of exchange and method of payment (including transaction fees), where the token can have more functions.
Token variations include, but not limited to:
A security token, as an analogy of equity share in classical trading, presents a certain value of the company
Utility token simply provides users with a product and/or service
Stablecoins - tokens linked to some stable and valuable measure of gold, USD/ other fiat currency, or any other assets
Asset token - token backed by some value ( real estate, gas, oil, etc),
Non-fungible tokens (NFTs) - virtual assets of unique things (like art, in-game items, etc)
Tokens won their popularity as they are easy to create and low in cost, and they can serve as a digital representation of a physical asset. They facilitate collaboration across markets and jurisdictions and allow more transparent, efficient, and fair interactions between market participants.
Tokens provide revolutionary opportunities for the investment industry. By tokenization, you can split the cost of any products and services, like art or real estate. This means that a client potentially can have a stake of the highly valuable asset (for example Picasso art), he would not have a chance to invest in the classical world.
Tokenization is yet doing its first steps and we are certain that it will result in completely new use cases, business models, and asset types, which potentially enable completely new value creation models.
Credits blockchain supports the option of your token creation via the token smart contract.
We encourage you to make your token and move this industry forward together with us!
The step-by-step manual is here.