Finboy Blog

Create your own Token

Credit to and William Macintosh for a recent article that gave a tutorial for creating your own “Token.” I have taken some of it but it is in complete because really you ought to read the full article here… The following aret extracts from the article to give you a flavour.

This is a guide for creating your own cryptocurrency token on any OS. For the purposes of this tutorial, I will only be putting my token on a test network but I will also show how to put it on the Main Ethereum Network. Although your token will not be worth anything, it will still be transferable through MetaMask. Note – make sure you are using Google Chrome for this tutorial. First you will need to create a MetaMask account. Go to this link and follow along until you have the chrome extension with something like this (below) when you click on it. You will need to create an account and write down a 10 word signature that will be used to log in to your account.

Before we get into creating the token, you will need to keep these things in mind. You will need to choose:

The Token’s Name (E.g. TutorialToken)
The Token’s Symbol (Usually 3 or 4 letters. E.g. TUT)
The Token’s Decimal Places (This will show how many decimal places each coin can be divided into. For example, Bitcoin has 14 decimal places. For this I am just going to use 1)
The Number of Tokens in Circulation (E.g. 100,000)

You will first need to acquire some test ethereum for the Gas Fee. The Gas Fee is essentially a fee for using their blockchain to transfer your tokens. Go to this website and request at least 1 Ethereum from the faucet.

Now, go to the website:

Press the (+) button at the top left of the screen to create a new file. Name it whatever you want but keep the .sol at the end.

Then, paste this code in the editor.

pragma solidity ^0.4.4;contract Token {/// @return total amount of tokens
 function totalSupply() constant returns (uint256 supply) {}/// @param _owner The address from which the balance will be retrieved
 /// @return The balance
 function balanceOf(address _owner) constant returns (uint256 balance) {}/// @notice send `_value` token to `_to` from `msg.sender`
 /// @param _to The address of the recipient
 /// @param _value The amount of token to be transferred
 /// @return Whether the transfer was successful or not
 function transfer(address _to, uint256 _value) returns (bool success) {}/// @notice send `_value` token to `_to` from `_from` on the condition it is approved by `_from`
 /// @param _from The address of the sender
 /// @param _to The address of the recipient
 /// @param _value The amount of token to be transferred
 /// @return Whether the transfer was successful or not
 function transferFrom(address _from, address _to, uint256 _value) returns (bool success) {}/// @notice `msg.sender` approves `_addr` to spend `_value` tokens
 /// @param _spender The address of the account able to transfer the tokens.....

Now, find where is says // CHANGE THESE VALUES FOR YOUR TOKEN. Replace all the values with what you thought of earlier.

..... balances[msg.sender] = TOTAL_NUMBER_OF_TOKENS_HERE; 
 decimals = 0; 
 symbol = “SYM”;

Now all the code is finished, you are able to start actually putting your token on the test net. First of all, make sure you are on the Ropsten test network. Below shows how to switch from Ethereum to Ropsten.

…….. And you’re done! You now have the full amount of token accredited to your account. It is now able to be sent to anyone else using MetaMask and some other wallets. As a final step, you can put the token on the main Ethereum network, making it an official token. The downside to this is that you have to pay around 30 USD to do it. All you need to do is repeat step 3 but be on the Main Ethereum Network instead of the Ropsten Network.

This was a tutorial on how to make a cryptocurrency token on the Ethereum Network. If you have any errors, comment them and I will try to help debug. Just to be clear, this is not a Cryptocurrency. To actually make a crypto, you have to have a blockchain and that is a lot harder to make. But this is a good starting step if you want to start getting into blockchain and cryptocurrencies.