Best Blockchain to Create Token at?

Best Blockchain to Create Token at?

By LiteLiger | LiteLiger Blog | 27 Sep 2019


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Best Blockchain to Create Token at?

This is one of those rare occasions where i personally was not able to find a similar article that answer my question, which blockchains support token creation? So i had to do one myself. For many people creating token might be great way to support a specific cause or community and better alternative to coding a brand new coin. Plus it may be more economically viable to enter spaces that have infrastructure built in already.

So in this article we will be going through different options for blockchains that you can choose to create token at. Please understand that changes happen often and data may be outdated in some aspects.


First of we have Ethereum, which is the inventor of smart contracts and also created the first tokens in the world as well far as i know. Currently has largest amount of tokens across all the blockchains, in lot of ways bit over saturated.

  • Token Name: ERC20, ERC223, ERC721 and ERC777
  • Token Decentralized Exchanges: Yes, many
  • Creation Difficulty: Medium (Some services exist for easy ERC20 token creation)
  • Transactions Per Second: ~12 TPS
  • NFT Support: Yes
  • Token Explorers: Yes
  • Cost Of Creation: 1-2$ (but the sum increases based on how long the script is and also gas fees affect pricing)

Ethereum has couple of different token standards ERC20 one being normal and regular one. Followed by ERC223, which is improved version of ERC20 that actually costs half as less gas to transfer in the blockchain. While ERC721 is NFT token in the chain. If you are in interest of creation Tokens, you may look at my projects cheap service for customized tokens.

Its a good option to create token in because so many tools, services, dapps already exist to make the experience easier.

Pros

  • Many options of token types to choose from
  • Relatively cheap to create a token contract
  • Lot of existing Decentralized Exchanges where you can trade the token after creation

Cons

  • For a person who can’t code the creation process is rather complex
  • Market is over saturated with Ethereum tokens
  • Fees for sending tokens can be high as 0.50$ and interacting with dapps can cost even more

Of course logical next step would be Ethereum Classic, which forked out of ethereum due to split in the community. Unlike Ethereum, ETC will be staying under PoW forever which has its benefits, but probably won’t be as scalable in terms of TPS and other things that Ethereum is working to bring in future.

  • Token Name: ERC20, ERC223, ERC721 and ERC777
  • Token Decentralized Exchanges: Only one
  • Creation Difficulty: Medium
  • Transactions Per Second: ~12 TPS
  • NFT Support: Yes
  • Token Explorers: Yes
  • Cost Of Creation: ~0.000001 ETC (Scales how many bytes the smart contract has)

Ethereum Classic is not as widely popular or used as Ethereum, but its biggest advantage over Ethereum is simply the fact that the network isn’t congested with spam tokens, which makes fees be around up 1000 times lower than in Ethereum, its the cheaper avenue to go to. Then again it doesn’t have as many dapps, tools and users to go around.

Pros

  • Basically same capabilities as Ethereum
  • Extremely cheap Smart Contract & Token creation
  • The Fees are extremely low for sending tokens, because the network isn’t clocked

Cons

  • For a person who can’t code the creation process is rather complex, with ETC there are no services that allow automatic creation far as i know
  • There is only one existing token DEX in ETC at the moment and that is Saturn Network right now
  • If ends up becoming as popular as Ethereum, will have same congestion problems eventually

Next up we have Tron (TRX), which is probably 2nd largest token platform after Ethereum.

  • Token Name: TRC10 & TRC20
  • Token Decentralized Exchanges: Multiple
  • Transactions Per Second: 2000 TPS (Soon supporting 5 sidechains, which each will have 2000 TPS)
  • Creation Difficulty: Medium (smart contract services already exist in 3rd party sites)
  • NFT Support: Yes
  • Token Explorers: Yes
  • Cost Of Creation: 1024 TRX

Tron is using same coding language Solidity as Ethereum is, so if you are a developer in Ethereum its very easy to swap over to Tron. The two most popular tokens in the platform are TRC10 and TRC20 right now, TRC10 is different in a way that its thousand times cheaper to send versus TRC20. However TRC10 doesnt have any special coded functionalities, but its easier for developers. You can read more about breakdown between the two tokens in this page if you’re interested.

Important to understand here though is that Tron uses resource system bandwidth and energy in transactions among small amount of Tron.

Pros

  • Very cheap to send transactions in the chain regardless of token type
  • High TPS network
  • Lot of existing explorers, token wallets and Token DEX’s
  • There are 3rd party services for 1 click token creation contracts out there

Cons

  • There is a volume of spam tokens in Tron Blockchain

Next up in line we have EOSIO (EOS), which is very popular token and dapp platform right now.

  • Token Name: None
  • Token Decentralized Exchanges: Multiple
  • Transactions Per Second: 3000 TPS
  • Creation Difficulty: Medium
  • NFT Support: Yes
  • Token Explorers: Yes
  • Cost Of Creation: N/A

So EOS is kinda tricky one at one end you have this great situation that you can transfer tokens technically for free without having any EOS. On the other hand because it costs to create account on EOS blockchain, this makes the chain relatively smaller userbase in case you want a bigger community for example.

According to what ive heard there are lot of great developer friendly things in EOS blockchain which makes it a good option to create token at plus you have good TPS, large dapp ecosystem and many decentralized exchanges to trade tokens at.

Pros

  • Sending tokens to another person costs zero EOS
  • You can include messages to transfer when you send tokens i.e – welcoming gift, promotion or other purposes

Cons

  • Creating a paid EOS account on the blockchain has its negatives

Next up in line we have Waves (WAVES), which is Russian based blockchain that has made lot of big time partnerships recently. Out of all token platforms i know right now, they must have easiest token creation process.

  • Token Name: None
  • Token Decentralized Exchanges: Only one
  • Transactions Per Second: 500 TPS
  • Creation Difficulty: Very Easy
  • NFT Support: Yes
  • Token Explorers: N/A
  • Cost Of Creation: 1 WAVES

Thing that makes Waves very ideal token creation platform is that its incredibly simple to do one without no coding. Technically all you have to do is to login to their platform page and click create token and get to choose decimals and name after this you pay 1 Waves and token is created.

You can obviously customize and own scripts to the token, but this will make the DEX transfers and normal transfers have a transfer fee of 0.006 Waves, while non-scripted version would be 0.003 Waves.

Pros

  • Worlds easiest token creation, no coding required
  • WavesDEX which is ran by official team allows all tokens to be traded on the exchange without listing

Cons

  • Not that many dapps yet in Waves or community run projects, it seems most of things are built by the main developer team themselves
  • Waves DEX has set transaction fee, while its low arguments could be made it should be scale-able

Next up in line we have NEO (NEO), which is often called the Ethereum of China. NEO is quite different because the main coin doesn’t support decimals so you always have to trade 1 full NEO, but they have a NEO GAS which is native token that is used to make transfers on the blockchain

  • Token Name: NEP5 & NEP8
  • Token Decentralized Exchanges: Few
  • Transactions Per Second: 1000 TPS
  • Creation Difficulty: N/A
  • NFT Support: Yes
  • Token Explorers: N/A
  • Cost Of Creation: 500 NEO GAS

So NEO is kinda like two edged sword when it comes to decimals and its very huge token creation cost. While it costs right now over 500$ create a token on the platform, it filters out lot of spam projects emerging on the chain and possibly forces people to vet code and make sure everything is good about it.

NEO is one of the cheapest chains to send NEO or tokens at since gas costs are so low. There is some good infrastructure already in place and i could see NEO Grow lot more in future with some of the plans they have in store for future.

Pros

  • Super cheap transfers for NEO & Tokens
  • Uses Ethereum’s solidity coding language, but has multi-language support for it
  • No trash & spam tokens on the chain

Cons

  • By far the 2nd most expensive token to create, with current price of GAS which is 1,09$ this would mean 545$ to create a NEP-5 token.

Ontology (ONT) originally was a token in NEO blockchain until it decided to move into its own native chain. It’s basically working same way as NEO is just couple of small differences.

  • Token Name: OEP4, OEP5, OEP8 & OEP506
  • Token Decentralized Exchanges: None
  • Transactions Per Second: 4000 TPS
  • Creation Difficulty: N/A
  • NFT Support: Yes
  • Token Explorers: Yes
  • Cost Of Creation: 10.2 ONTOLOGY GAS

Ontology has same system as NEO, which creates the same problem and benefit of token creation. In lot of ways Ontology’s main net is still young and some infastructure like a DEX needs to be built until i would recommend actually jumping into creating a token in the platform.

Pros

  • Cheap transfers for ONT and OEP tokens
  • Creation of the token is cheaper than in NEO

Cons

  • No decentralized exchange option to trade the tokens as of this moment
  • Still in its early stages of token infrastructure (not many tools out yet)

Another new coin called Ravencoin (RVN) not too long ago started supporting tokens in their platform.

  • Token Name: None
  • Token Decentralized Exchanges: None
  • Transactions Per Second: 72 TPS
  • Creation Difficulty: N/A
  • NFT Support: No apparently
  • Token Explorers: No?
  • Cost Of Creation: 500 RVN

Ravencoin has been making lot of gains recently being listed on many popular wallets and exchanges. While this is true its still in its early stages and there isn’t really many token supporting wallets right now. Ravencoin developer community is very passionate about their project and i’m sure we’re going to be seeing lot more dapps and structure being built around the project, but as of right now i wouldn’t recommend the platform for token creation due to lack of infrastructure.

Pros

  • Cheap transfers for Ravencoin and RVN assets

Cons

  • No decentralized exchange option to trade the tokens as of this moment
  • Still in its early stages, lot of needed features not completed yet

One of the biggest blockchains in the space right now Stellar (XLM) also supports token creation as of now.

  • Token Name: None
  • Token Decentralized Exchanges: Yes, couple
  • Transactions Per Second: 4,000 TPS (According to some sources)
  • Creation Difficulty: N/A
  • NFT Support: Yes
  • Token Explorers: Technically no
  • Cost Of Creation: N/A

Stellar is unique blockchain in some aspects, while its been criticized for being very centralized it does have good ecosystem in place with easy to use decentralized exchanges and dapps. The trustlines system can be bit problematic in terms of distributing your token, so you have to work around this in many ways which might be a big problem for many projects out there.

Given the huge money and backing behind Stellar i could see lot of needed tools being built with funding and this is likely to create lot more easiness in future.

Pros

  • Very low fees on transactions at Stellar blockchain
  • Good amount of Decentralized exchanges to trade tokens at

Cons

  • Each Stellar (XLM) account must hold minimum of 25 XLM in their account in order to operate it
  • You need to enable each Stellar token separately in order to receive and trade them, which costs 0.5 XLM this creates a situation that you cannot airdrop any of your tokens technically on the chain (more about trustlines here)

One of the older coins out there Digibyte (DGB) recently released a support for what they call Digi Assets.

  • Token Name: None
  • Token Decentralized Exchanges: No
  • Transactions Per Second: 560 TPS
  • Creation Difficulty: N/A
  • NFT Support: N/A
  • Token Explorers: N/A
  • Cost Of Creation: ~500 DGB

Digibyte was launched back in 2014 making it bit older than lot of the other options in this list, but it has very solid community and its been supported by it for long time. If it actually manages to build some key infrastructure for tokens like a DEX and metamask type of interactive dapp wallet i could see Digibyte asset economy grow in future.

Pros

  • Very low fees on transactions at Digibyte Blockchain
  • By year 2035 Digibyte will be able to attain 280,000 TPS

Cons

  • Since its very new feature on the Digibyte blockchain, there isn’t a decentralized exchange yet
  • To my knowledge no multi-asset wallets or other important dapps & tools haven’t been made yet

IOST moved into its own blockchain this year from Ethereum, its widely regarded as simplified version of EOS having 2 resources instead of 3 and lot more decentralized because it has more block producers than EOS.

  • Token Name: IRC20 & IRC721
  • Token Decentralized Exchanges: Yes, at least one
  • Transactions Per Second: ~8000 TPS
  • Creation Difficulty: N/A
  • NFT Support: Yes
  • Token Explorers: Yes
  • Cost Of Creation: ~3 IOST (Scales on code size, but pretty low cost overall) 

IOST is very new blockchain so lot of development is still on its early stages, but we already have seen a first token DEX among a couple of casino websites emerge in the dapp side of things. Also iWallet can store all tokens under one umbrella and can interact with all dapps. For such a short period of time, lot of the necessary systems are in place already.

Pros

  • Very high TPS makes it very ideal for possible mass adaption (When sharding comes into effect)
  • Creating Smart Contracts in the platform is relatively easy from what ive heard
  • Lot of Good tools and dapps already created

Cons

  • Creating IOST accounts cost IOST to create, making account creation lot scarce and complex process compared to many other blockchains

Our next project is NEM (XEM) which was created back in March 2015.

  • Token Name: MOSAIC
  • Token Decentralized Exchanges: Yes, at least one
  • Transactions Per Second: ~4000 after catapult update
  • Creation Difficulty: Easy
  • NFT Support: Yes
  • Token Explorers: Yes
  • Cost Of Creation: ~300 XEM

One thing i was able to find while browsing pictures was how easy it is actually to create Token aka Mosaic on NEM blockchain, offering really easy option to people adjust normal things without coding knowledge.

Pros

  • Proprietary functions in terms of smart contracts that only NEM Catapult update suppports
  • Pretty high TPS and low transaction fees on transfers

Cons

  • Seems there is lack of many dapps in NEM at the moment

POA Network (POA) is a fork of sorts of Ethereum and also using same coding language making it easy to transfer ethereum smart contract over to POA.

  • Token Name: POA20
  • Token Decentralized Exchanges: One in the making called HoneyDEX
  • Transactions Per Second: ~36 TPS
  • Creation Difficulty: N/A
  • NFT Support: Yes
  • Token Explorers: N/A
  • Cost Of Creation: N/A

POA20 tokens are a testament to interoperability. They possess all the same traits as native POA tokens, but exist on the Ethereum mainnet as standard ERC20 tokens. Thanks to the POA bridge DApp, native POA tokens are easily transformed into POA20. Users can then leverage mainnet applications as desired, and bridge back to POA at any time.

Pros

  • Cross Support with Ethereum & Ethereum Classic Blockchain is really good feature

Cons

  • While its 3x faster blockchain than Ethereum, this is still not very valid for mass adaption and further scaling if usage increases

Neblio (NEB) is a relatively new blockchain with Proof Of Stake consensus.

  • Token Name: NTP1
  • Token Decentralized Exchanges: No
  • Transactions Per Second: 3500 TPS
  • Creation Difficulty: Very Easy
  • NFT Support: N/A
  • Token Explorers: N/A
  • Cost Of Creation: 10 NEBL

The Neblio Token Protocol-1 and its unique metadata properties allow for easy tokenization of physical and digital assets without any development or technical experience.

Pros

  • Cost of transfers for token is only 0.0001 NEBL
  • Each token can have metadata on them
  • Very easy to create token without any prior coding knowledge
  • Every Token created on the chain has unique ticker & name, which cannot be used by other project preventing frauds from impersonating a certain token

Cons

  • Still in very early stages needs dapps and more importantly a DEX for trading tokens

QuarkChain (QKC) recently started their own mainnet along with supporting tokens on their platform.

  • Token Name: QRC20
  • Token Decentralized Exchanges: No
  • Transactions Per Second: 14,000 TPS
  • Creation Difficulty: N/A
  • NFT Support: N/A
  • Token Explorers: N/A
  • Cost Of Creation: N/A

QuarkChain went to its own blockchain this april which makes its very new blockchain still and this means that lot of needed infastructure isn’t exactly in place yet for the project.

Pros

  • Through Sharding the TPS of the blockchain can go very high, which makes it very adaptable

Cons

  • Still in very early stages needs dapps and more importantly a DEX for trading tokens

Other blockchains that will support tokens soon are Cardano, Steem & Apollo Currency

As stated earlier some blockchains missing and they will be added later on, some of data might be outdated and my technical insight to token creation isn’t high since i’m not a coder. For listing your coin here give me a tweet or contact me at Liteliger@protonmail.com for further data & questions. Note; i'm not likely to going to update the article anywhere except my own website, so look there for more updates


LiteLiger
LiteLiger

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