How to create a token on the IOST blockchain

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2 minute read

Published on: 31-05-2020

Among the blockchains on which it is possible to create tokens, there is also IOST, which uses PoB (Proof of Believability).

This blockchain allows the creation of tokens, which can be IRC20, IRC21 or IRC721, the latter dedicated to NFTs (Non-Fungible Tokens) that have recently been added.

Note: The token in this guide was created only for the purpose of writing the article. It will not be used or listed. Every Cryptonomist or Cryppo token on the market is fake.

Today we’ll see how to create a token on this blockchain. To do that we need:

The easiest way to create an IRC20 token is to access the IOSTOOL portal and connect the wallet.

At this point the interface is quite intuitive: it will be necessary to enter the data of the token, the ticker (strictly all in lowercase and without numbers), a small description, the total supply and the decimals.

After entering the data we will first have to click on the “create” button, confirm the transaction and after that click the “issue” button to finalize our transaction.

The final result can be seen on every IOST compatible blockchain explorer

All the information about the created token will be here, as well as the various holders that will have that particular token.

Also, remember that IRC20 tokens have the ability to be frozen, transferred and burned, allowing to decrease the supply.

To sum up, it is possible to create a token with a few cents on this blockchain, considering that IOST is traded at about $0.003. IOST is practically accessible to everyone and without any particular difficulty.

 

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