Create a Cryptocurrency - Crash Course | Part 1 - Deploy ERC-20 Token

Summary

This video script provides a step-by-step tutorial on how to create your own ERC-20 token on the blockchain using Remix IDE. It covers setting token metadata like name, symbol, decimals and supply, optimizing the smart contract code, deploying to testnet networks in MetaMask, and checking the success on a block explorer. The next video will detail verifying the contract post-launch to build trust. The goal is to make launching a crypto token accessible for anyone willing to learn.

Takeaways

• 😀 The tutorial shows how to create your own ERC-20 token step-by-step using Remix IDE
• 💡 You need the ERC-20 token source code which is available for free download
• 📝 Remix IDE is the workspace for creating and managing your token smart contract
• ⚙️ Set the token metadata like name, symbol, decimals and total supply
• ✅ Compile and optimize the smart contract before deploying to save on gas fees
• 🔗 Connect your MetaMask wallet to deploy the contract on the blockchain network
• 🚀 After successful deployment, your token will appear on blockchain explorers
• 👍 Getting your token verified builds more trust for investors
• 📈 Additional steps like listing on exchanges increases visibility and access
• 🎥 Subscribe for more tutorials on launching your own crypto token

Q & A

What is the first thing needed to create your own cryptocurrency?

The first thing you need is the source code for the Standard ERC-20 Token that will be used during the crash course. It can be downloaded for free from the provided website or GitHub repository.

What four options are there for setting the token decimal places?

There are generally four accepted options for the decimal places: 18, 9, 6 and 3. The default is 18.

What networks can you deploy the token to from Remix IDE?

From Remix IDE, you can deploy the token to networks like Ethereum, Binance Smart Chain, Avalanche, Pulse Chain, Arbitrum, Polygon or any other EVM-compatible network by simply switching in Metamask.

Why is it important to optimize the smart contract?

Optimizing the smart contract allows you to reduce the cost of token deployment by reducing the gas fees. This prevents you from going bankrupt due to high gas prices.

What menu item in Remix IDE is used to deploy the token?

The Deployment & Run Transactions menu item in Remix IDE is used to deploy the token and make it appear on the blockchain.

What do you need to do before clicking the Deploy button?

Before clicking deploy, you need to connect your Metamask wallet to Remix IDE, select the correct network, ensure your wallet has enough funds for gas, and select the smart contract name to deploy.

Where can you check to see that your token was successfully deployed?

After successful deployment, the token's address will display in the Deployed Contracts section of Remix IDE. You can copy this address and check for the token in a block explorer/scanner for confirmation.

What important next step is mentioned at the end of the video?

The video mentions that the next important step after deploying your token is to ensure more trust from investors, but does not provide specifics. This would likely involve auditing and verifying the token contract.

What resources are mentioned for learning more?

The video mentions subscribing to their YouTube channel and visiting their website cryptokoki.com to keep up with the latest updates and products for creating your own cryptocurrency.

What previous knowledge is required for following this tutorial?

The video states that no coding experience, blockchain knowledge or need to read articles is required. All that is needed is a little diligence to follow the tutorial carefully step-by-step.

Outlines

00:00

😊 Introducing the Crash Course on Creating Your Own Cryptocurrency

The first paragraph introduces the crash course on how to create your own cryptocurrency. It mentions that no programming skills or blockchain knowledge is required. The key things needed are the free source code for a standard ERC-20 token, a course outline PDF, and following the step-by-step video lessons.

05:03

👨‍💻 Walkthrough of Remix IDE and Configuring Token Metadata

The second paragraph provides a walkthrough of Remix IDE, which is the development environment used to create and manage the cryptocurrency token. It explains the different panels like file explorer, code editor, compiler, etc. The paragraph then covers setting the token metadata like name, symbol, decimals and total supply.

Keywords

💡source code

The source code refers to the code for the ERC-20 token standard that will be used to create the cryptocurrency token. It is a key building block provided for free to allow anyone to create their own token. The script mentions downloading it from the CryptoKoki website or GitHub repository.

💡Remix IDE

The Remix IDE is an online IDE for developing and deploying smart contracts. It is where the token contract will be created and managed. The script provides the web address to access Remix and outlines the key parts of its interface like the file manager, code editor, console etc.

💡metadata

The metadata refers to the basic properties of the token that need to be set including its name, symbol, decimals and total supply. These allow the token to establish its unique identity.

💡deployment

Deployment refers to the process of deploying the smart contract token on the blockchain. This brings the token into existence so it can be traded. The script outlines connecting Metamask to Remix and choosing the network for deployment.

💡gas

Gas refers to the fee needed to perform transactions on Ethereum and other blockchains. The script recommends optimizing contracts to reduce gas costs for token deployment.

💡block explorer

A block explorer allows checking and verifying transactions on the blockchain. The script mentions using it to check if the newly created token contract has been successfully deployed.

💡trust

Building trust with investors is mentioned as an important goal post token deployment. This suggests the need for transparent and ethical practices.

💡updates

The video creator encourages viewers to subscribe to receive latest updates about building their own cryptocurrency. This allows continued education.

💡testnet

A testnet refers to a test blockchain environment for experimentation. The script shows the creator using the Binance Smart Chain testnet.

💡web3

While not explicitly mentioned, the video broadly relates to web3 - creating decentralized apps by giving viewers the tools to build their own cryptocurrency.

Highlights

This is a crash course on how to create your own cryptocurrency

All you need is a little bit of diligence and follow this course carefully

The first thing you will need - is the source code for the Standard ERC-20 Token

RemixIDE is where your token will be created and managed

Set basic properties of token: contract name, token name, symbol, decimal and total supply

Optimize smart contract to reduce cost of deployment

Connect Metamask wallet to Remix IDE environment for deployment

Make sure you have enough funds for gas spendings

Click deploy button and sign transaction in Metamask to deploy token

Successful transaction message and token interface indicates deployment

Copy token address and validate in block explorer

You successfully deployed first crypto token

Next lesson covers important step after deployment for investor trust

Go to website for more on creating your cryptocurrency

Thanks for watching!

Transcripts

Hello again!

This is the first lesson of a crash course on how to create your own cryptocurrency.

Here we are going to show you step-by-step how to launch your token.

nd NO! You don't need to be a cool programmer,

or read a tons of articles about blockchain to do this.

All you need is a little bit of diligence and follow this course carefully.

Are you ready? Then here we go!

The first thing you will need - is the source code.

This is the code for the Standard ERC-20 Token,

that we will be used during the crash course,

and most importantly

we have made it free for everyone!

Download it on our website or from the CryptoKoki GitHub repository.

We already talked about this in our last video,

the hint will be in the corner!

In addition to the source code,

you get a crash course outline in PDF.

All links will be in the description!

Now let's get to the lesson.

And the first thing we will get acquainted with - is Remix IDE.

This is where your token will be created and managed.

You can get here by following this web address.

All useful links is always will be in the description.

And here is the RemixIDE workspace let's see what is what.

First of all - the main menu.

This is where you switch between the main toolbars needed for deployment and contract management.

Here is the workspace of each of the menu items.

This is where you will spend the most time.

Right now we are in the file manager

for managing our project files.

Next - is the code editor.

This is where the smart contract code is written and edited.

But right now this is just the home tab; you can close it.

And below that is the console.

The console displays all transactions launched from Remix IDE.

This is very important to understand which transactions were successful and which failed.

Now I will close home tab and create a new file.

You can give it any name you want but I will name it token,

it will contain a token smart contract for deployment.

Now I will put the source code of the Starter ERC-20 Token in this file.

As a reminder you can get it completely for free from our website or GitHub.

Links in the description.

Now you need to set the basic properties of token

they are also called metadata.

They include contract name, token name, token symbol, it's decimal and total supply.

Let's break them down in order!

Contract name is the name of the smart contract that will only appear on the blockchain scanner.

As an example, I will name it after this channel - CryptoKokiContract.

Token name and its symbol of exactly the name and the abbreviation of your token

which will represent it and which will be remembered by investors.

I will also name it after the channel

CtyptoKoki and symbol - KOKI.

Decimal determines the number of decimal places in your token.

The default value is 18.

But also there are three generally accepted options:

18, 9, 6 and 3, but we will leave the default value.

Total supply is the number of tokens that will be issued with token deployment.

Let's specify the amount of 150 million tokens.

Great! Now that we have specified the token metadata,

we can start compiling.

For this, we go to the corresponding menu item.

Here we are offered to choose the compiler version,

to find out the version we need,

let's go to the beginning of the smart contract

and here we see versions 0.8.19.

We choose it from the drop-down list then clicks "Compile".

If there are errors or warnings in the contract they will be displayed below.

Now an important step, that will be useful

for those who deploy token in the Ethereum network -

is to optimize the smart contract.

It allows you to reduce the cost of token deployment.

And it will allow you not to go bankrupt due to high gas price!

To do this, you need to open the advanced configuration tab

and check the "Enable optimization" checkbox.

After that, compile the smart contract again and now it is optimized!

Next, let's move on to deploying the token.

This is the part in which it will appear in the blockchain.

To do this go to the next menu item - Deployment & run transactions.

Now you need to connect your Metamask to the Remix IDE.

To do this select Metamask from the environment drop-down list.

Now it is important to make sure, that you are using the exact network

on which you plan to deploy the token.

This is the network that is active in your Metamask interface and is shown here.

At the moment I use the Binance Smart Chain Testnet,

But you can choose any other EVM-compatible network such as:

Ethereum, Binance Smart Chain, Avalanche, Pulse Chain, Arbitrim, Polygon and others

simply by switching it in Metamask.

Below you will see the address of the connected wallet and it's balance.

Make sure it has enough funds for gas spendings.

In the drop-down list select the name of the smart contract you want to deploy.

You will need to choose the name you specify earlier,

and I have to set CryptoKokiContract.

Great! Everything is ready to deploy the token.

To do this, you need to click the deploy button.

If you have done everything correctly,

you will be prompted to sign the transaction in Metamask.

After that, a message about successful transaction will appear in the console.

And in the deployed contract section,

you will be able to see the interface of your token.

For now let's copy its address and check it in the block scanner.

And yes! Your token has appeared on the blockchain!

Today you successfully deployed your first crypto token,

but this is just the beginning!

In the next lesson,

we will look at an important step after token deployment,

to ensure more trust from investors.

Subscribe to the channel, to keep up with the latest

updates and also go to our website.

More products we creating your own cryptocurrency on cryptokoki.com

Thanks for watching!