HOW TO CREATE TOKEN ON STELLAR BLOCKCHAIN NETWORK?

The majority of startups have released the tokens they have on Ethereum due to the fact that it has an established infrastructure that is also Turing-complete. However, Ethereum does have some drawbacks too. Ethereum can handle fourteen transactions every second. This is becoming a serious problem now, and has caused existing dApps and dApps to be removed from on the Ethereum platform. It is therefore advisable to explore other options.

Stellar Lumens is one of the most popular blockchain platforms that lets users to design a customized token to be the base of an eco-system. In this article, we'll describe how to create and issue an account that is a part of Stellar Lumens. Stellar network.


Step 1: Create two separate accounts (One for Issuance, the Other for Distribution)


The first step to create an account using Stellar Stellar platform involves establish an issuing account that will transfer an amount of tokens to an account for distribution. The issuing account is created to secure it once we have created tokens. We also ensure our customers that the supply of tokens won't be increased in the near future.


To get started, go for Stellar Laboratory and make sure you select"test. "test" tab. Click on "Generate keypair" and take notes of the public and secret keys. Keep them kept in a secure location.


Once the key pair has been created The second step would be to make sure that the issuing account is funded on the test network by using friends bot tool. It will insert your public key in the text box and hit "Get test network lumens."


Once the account has been filled, you'll get a green-colored bar that confirms the account's funding success using the test lumens.


Also, fund and create another account to distribute funds and keep track of the private and public keys. After that it is possible to verify that both accounts are in balance by adding every public key at the end


Step 2: Establish an account with a trustline


It is the next stage to make a trustline that states that the account that distributes funds trusts the account that issued it. To create a trustline, visit the page of the transaction builder and type in the public key of the distribution account in the field for the source account.


We can leave the following three fields Memo the Base Fee, Time Bounds as is and change to an the operation type and set it as "Change Trust."


After choosing the type of operation as "change trust", set the asset to alphanumeric number 4 or 12 depending on the characters you would like to enter and then enter the asset's code you want to use. In this case, for example, we're making a token for the gold asset. Therefore you should select Alphanumeric 4 and enter "Gold" in the field for asset codes.


Step 3. Secure the account of the issuer


The last step is to secure the issuing account to ensure that no further tokens will be generated. To do this visit the transaction builder's page and enter the public number of the account that issued it in the field for the source account and then retrieve the next sequence number, just as we did previously.


Scroll down, and choose the "operation type" as Set Options. Then, set the master weight to zero and then click "Sign transaction in signer" at the end on the screen.


After that, you must enter the secret key of the account you are using to the "Add Signer" field and then click "Submit to post transaction endpoint," and after that, click "submit" to finalize the transaction.


Step 4. Distribution


Since our token is in place and all is in place and everything is in place, the next step is to give the tokens to the people. There are a variety of ways to accomplish that. One of the major advantages of Stellar is its decentralized exchange. It is possible to create an offer to purchase the tokens and then trade them on the in real time on the Stellar exchange.


Be sure to keep in mind the following guidelines when you distribute tokens:

  • Inflating token supply on an established schedule using pre-authorized transactions.
  • Issue a dividend.
  • You can limit who holds your token.
  • Auctioning your tokens.

Today, we've successfully issued a token through Stellar. Stellar network. It is also more straightforward to use opposed to Ethereum. The transactions through Stellar will be faster and cheaper. Stellar platform will prove to be less expensive and speedier.


Read More : https://www.leewayhertz.com/create-token-on-stellar/

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