Create a cryptocurrency with ethereum
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You can install this using the command npm install -g truffle Once you install the tool, You can create a blank contract using the command truffle init This will create a structure of folders as below. Now in the contracts folder let's create our first contract. Since we are creating a contract for a token that is based on the ERC contract, we need to get this base implementation. This is available in the OpenZeppelin Contracts on Github.
So let's install this using the following command. Setup Local Blockchain Network Instead of using the real Ethereum network, we will run our own blockchain network on our own system using a tool called Ganache. Once you download the tool for your platform, run it and select the quick start option. This will create a Blockchain network with a few accounts.
Now for Truffle to connect to this network, we will add the following config to the truffle-config. Deploying the Smart Contract to the Blockchain. To deploy the Smart Contract, we need to create a migration solidity file.
Now you must be wondering, I am creating tokens but why does it contain extra 18 zeros? This is because the ECR standard defines the token value with 18 zeros. You can see this in the ECR specification here. With this let's deploy the smart contract with the following command. So with this, we just deployed a smart contract. Now when I look at Ganache, I see nothing changed, but a few Ether was reduced from the first account. So where did the NiceToken values go?
To visualize the tokens we are going to make use of a Cryptocurrency Wallet called MetaMask. Visualizing Cryptocurrency In A Crypto Wallet After installing MetaMask from here as a Chrome extension, we need to add the local blockchain network to the wallet settings. You can add a network to MetaMask settings as shown below. The Chain id is usually for the ganache tool.
Next, We need to import the account address with its private key. This can be located by clicking on the key icon next to the account address in Ganache. Note: Never share your private key with anyone. With just an internet connection, you can send, receive, borrow, earn interest, and even stream funds anywhere in the world.
Explore DeFi The internet of assets Ethereum isn't just for digital money. Anything you can own can be represented, traded and put to use as non-fungible tokens NFTs. You can tokenise your art and get royalties automatically every time it's re-sold.
Or use a token for something you own to take out a loan. The possibilities are growing all the time. More on NFTs An open internet Today, we gain access to 'free' internet services by giving up control of our personal data.
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