Creating new cryptocurrency using Ethereum platform

In this topic, you will learn how to issue your own token on Ethereum platform using smart contracts.

You need to follow below steps.

  1. Make sure that you are using Ropsten ETH on https://www.myetherwallet.com. Then Create a wallet on https://www.myetherwallet.com
  2. Transfer ether from special account with private key 6c73ee4c7d10d06463d58c7357fd0699727229ce4cee203b87e777e18e2980cc to your account. Otherwise you can mine ether on test network.
  3. Download the solidity script from https://github.com/bitfwdcommunity/Tutorials/blob/master/Tutorial%201/tutorial1_contract.sol
  4. Edit the solidity script by changing the token name and token class and constructor. See below for detailed instructions.
  5. Compile and Get object byte code from http://remix.ethereum.org/ for your token
  6. Sign and deploy contract on https://www.myetherwallet.com
  7. Register your contract on https://ropsten.etherscan.io/
  8. Done!!

How to edit the sample solidity script

You need to edit the solidity script as shown below.

  1. change contractName and Constructor name e.g. SagarToken
  2. change symbol name and name of new token
  3. Finally update the address at 2 locations (Enter your public ethereum address created in step 1)

contract SagarToken is ERC20Interface, Owned, SafeMath {
// Constructor

function SagarToken() public {
symbol = “SAG“;
name = “Sagar Token“;
decimals = 18;
_totalSupply = 100000000000000000000000000;
balances[0x63B55BBe35E5bBAFC6A03f1175EC8fB2b9a1ed53] = _totalSupply;
Transfer(address(0), 0x63B55BBe35E5bBAFC6A03f1175EC8fB2b9a1ed53, _totalSupply);
}

}

Compiling solidity script on http://remix.ethereum.org/

Compile and select the token

 

Get object byte code

Sign and Deploy the contract byte code

Now you can deploy new contract at https://www.myetherwallet.com/#contracts

 

Deploy contract

 

Enter bytecode and unlock wallet

 

Sign and deploy contract

Register your contract on https://ropsten.etherscan.io/

Specify the correct contract name, select compiler name and select optimization as no. Then paste the source code of solidity script and then click on verify and publish.

More info can be found @ https://medium.com/bitfwd/how-to-issue-your-own-token-on-ethereum-in-less-than-20-minutes-ac1f8f022793

You may also like...