Simple coin issuance method

Do you want to issue a coin? How to choose a coin issuance platform? Do you need programming skills to issue coins?

If you want to issue a coin, you must first choose a public chain. There are several reference indicators for choosing a public chain.

First of all, we need to consider the popularity. Of course, the more famous the chain, the better. Famous means a good user base and many users with wallets. If users have wallets for the public chain, when you issue tokens on the chain, users will have less resistance to accept. Therefore, it is best to choose a public chain that ranks in the top ten in market value.

The public chains with the highest market capitalization rankings and the most widely used on-chain coin issuance protocols include: ETH, BCH, EOS, and Trx. BTC has the Omni protocol for issuing coins, but because it requires difficult programming skills, there are almost no other tokens except the usdt-omni version.

The second thing to consider is that the mining fee should be cheaper. Saving money is easy to understand. When sending token transactions, the mining fee is generally higher than the main chain base currency. It is not suitable if the mining fee is as high as BTC.

Issuing a coin generally only requires some mining fees, and sending and receiving a token after it is created also only requires mining fees. Generally speaking, tokens do not consume any other fees.

The third is to consider the difficulty and flexibility of issuing coins. Chains with smart contracts like ETH and EOS are very flexible, and you can build tokens with various features, such as on-chain lock-up functions, on-chain ICOs, etc. But relatively speaking, you need programming skills to do this.

Bitcoin factions without smart contracts, such as BTC's omni protocol and BCH's SLP protocol, are not flexible enough, and the coins you issue are not programmable. Using BCH's SLP protocol to issue coins is very easy, and anyone can do it. It depends on your needs and personal ability. BTC's omni protocol is too difficult, and few people use it except usdt.

If you want to issue a coin with on-chain lock function, it is difficult to do it with omni and slp, which are not flexible enough. However, it is very easy with ETH-ERC20.

The fourth is security. The security mentioned here does not refer to systemic disasters such as 51% attacks on the chain. I mean whether the tokens you issue will have security vulnerabilities.

Is the coin issuance protocol you choose itself safe? Ethereum issues coins through smart contracts, which have been extensively verified for security. If you have a bug in issuing coins on Ethereum, you should blame your code first, not the Ethereum platform. Similar to Ethereum, many public chains with smart contracts can issue coins very conveniently by writing contracts.

BTC has the Omni protocol and USDT-omni has been widely verified. It should be the most widely used and longest-lasting token, so it is very safe.

BCH has an SLP protocol, and its security verification is not as long as Ethereum, but it has been running for more than two years, so there should be no problem with security.

Choose a good coin issuance protocol, and then consider whether your coin issuance tool is safe. For example, when issuing coins with Ethereum’s smart contracts, you need to consider whether the contract code you wrote has loopholes. BTC’s Omni protocol also requires writing code. BCH’s SLP protocol does not require writing code, it is very simple, and the security mainly depends on the SLP protocol itself.

The fifth is to look at the user experience, mainly the block confirmation time. Like ETH and EOS, the block confirmation time is short and the user experience is good. BCH block confirmation time is long, and because of the low computing power and large time interval volatility, the user experience is very poor.

The sixth is to see if there is support from decentralized exchanges. The decentralized exchanges of ETH and EOS are very good and can be easily connected to transactions.

But in fact, I think that most of the tokens have no added value on the exchange, and they can just rely on peer-to-peer circulation.

Relatively speaking, considering the above considerations, if you have a basic knowledge of programming, can write smart contracts, or can copy the code step by step according to the online tutorial, you can give priority to the Ethereum-ERC20 protocol for issuing coins. If you do not have a basic knowledge of programming, you can choose the BCH-SLP protocol.

There are also many fool-proof coin-issuing tools on Ethereum. The contract codes behind them have already been written by someone else, and you only need to fill in a few parameters. But the problem is that we don’t know how secure these tools are.

I think if you want to issue a coin, you should be serious and it would be best if the tool homepage has a recommended link on the "official website" of its public chain. But the Ethereum "official website" https://ethereum.org/ does not recommend any related tools.

There are also many tools for issuing coins for the BCH-slp protocol, and resource links can be found on the BCH "official website" https://www.bitcoincash.org/wallets.html.

Being able to find resource links on the public chain’s “official website” will make those of us who are unable to verify the security of the software feel more at ease.

If you don't have a programming foundation and choose to use Ethereum to issue coins, you can use the Bitpie wallet. Bitpie has a Token Factory. But you need to pay 1ETH as a fee, which is too expensive. But using it to issue coins is quite simple, and it is impossible not to know how to do it.

If you have a basic knowledge of programming, it is very convenient to find the contract template on Github. https://github.com/ConsenSys/Token-Factory/tree/master/contracts

I think the code on GitHub is still safe.

You can also search for Ethereum coin issuance tools on Baidu and Google, and you can find fool-proof ones. I have tried several, but I really don’t know how safe they are.

If you choose to use the BCH-SLP protocol to issue coins, it is very simple.

Download this wallet "Electron Cash SLP Edition" https://simpleledger.cash/project/electron-cash-slp-edition/ After installation, as long as you know how to use the software, it is impossible that you don't know how to use it to send tokens. It only has a PC version, no mobile version.

It is easy to issue coins, but the difficult part is how to give value to the coins.