What are cryptocurrencies?
Cryptocurrencies basically mean a digital currency that lives on the blockchain. It’s the native digital currency of a blockchain network. Like Bitcoin for Bitcoin Network, Ethereum for Ethereum Network or BNB for Binance Smart Chain.
What is a token?
A token is basically a small part of a blockchain network that is mainly created on a mother blockchain network. Like SHIBA Inu was created on Ethereum Network. It’s just a simple part of a full blockchain network and anyone can create it with little code with a small smart contract.
What is the token standard?
There are many kinds of token standards for different networks. The most popular is ERC20 Token that works on Ethereum Network. Another popular one is the BEP20 token. We are going to make the BEP20 token. This runs on binance smart chain.
Token standards represent what token can be exchanged for what token, and also it reminds you while you are sending a token. You need to select the correct network.
What is a Smart Contract?
Smart Contracts are little programs that run on the blockchain. These programs are needed to deploy on a Blockchain network. This program is mostly unstoppable or unchangeable. Once you deploy them on the network it is very hard to change and most of the time it’s not changeable at all.
What Programming Language is used to write smart contracts?
To write a smart contract, you need to know Solidity Programming Language. It’s quite similar to javascript but much more powerful than javascript.
Why are we choosing Binance Smart Chain to Make our Token?
We are going to make this token on Binance Smart Chain. Basically, all the smart contracts that run on Bianance Smart Chian also Run on Ethereum Network. We are not using Ethereum Network as the Gas (Transaction) fees are very high on ethereum network.
What is a crypto wallet?
Crypto wallets store your private keys, keeping your crypto safe and accessible. They also allow you to send, receive, and spend cryptocurrencies like Bitcoin and Ethereum.
Roadmap How we will create a Token
- Step1: Installing Metamask Extension on Our Browser
- Step2: Creating a Wallet on Metamask.
- Step2: Fixed a Name and Short Name for our token. AC
- Step3: Coding the Smart Contract using Solidity Programming Language.
- Step4: To Coding the Smart Contract we will use an online compiler called Remix [ Remix.ethereum.org ]
- Step5: Adding Binance Smart Chain Network to Metamask. And load some BNB Coins.
- Step6: Connect The Metamask with Remix Deployer.
- Step7: Deploy the smart contract on Binance Smart Chain.
- Step8: Adding the Token on Metamask.my
- Step9: Send, Receive or Use the Token.
In the next module, we’ll learn how to code the smart contract.
Go to the next module.