Tokenmint Clone Script
Tokenmint is a token generator platform script where users can create their own ERC-based tokens without coding knowledge, Which helps you to easily create your ERC20 tokens or Crowdsale contract & create your own ICO platform on the Ethereum blockchain network without any coding knowledge.
If you are eager to start your token creation platform like TokenMint, BlockchainAppsDeveloper is the leading Ethereum Token Development Company, provides the finest Tokenmint Clone Script to start your platform as per your business requirements.
What are Mintable Tokens?
Mintable tokens are ERC20 compatible tokens with an additional mint function. The new tokens can be created at any time which helps to increase the total supply(total amount of tokens to be generated). New tokens can only be minted by an address that has been set in a minter role. If there is no address on the Minter role, then no one can create new tokens.
What is Minter's Role?
Minter's role is the special privileged address to generate new tokens, thus added them to the total supply. The first minter is the address that can be deployed in the token contract. Only the current minter can add the new minter or transfer to another address.
What is Token Minting?
Tokenmint is the platform that can easily create your ERC20 tokens or Crowdsale contract & create your own ICO platform on the Ethereum blockchain network without any coding knowledge.
Minting tokens is done by sending a transaction that generates new tokens inside the token smart contract. A call to a smart contract function can generate an unlimited number of tokens without spending the energy.
How Tokenmint Clone Works?
For a mintable token creation, you have to install an Ethereum wallet on your device. The Ethereum wallet should have enough ETH funds to pay for the contract deployment service.
Simple Form Submission
After completing the installation process, the user has to fill the simple understand form with your custom data, token attributes like token name, token symbol, decimals, token supply(total amount of tokens to be generated) & the process completed. After that, you need to complete the payment details for the process. Then you can check and confirm the token creation parameters and click finish.
Smart Contract Deployment
On the deployment process, you have to set the mining fee and confirm token creation to your wallet. Once the transaction is completed successfully, it can be submitted to the Ethereum network and the contracts are deployed and it will be ready to be used.
Difference Between Minting & Mining
Minting and Mining are not the same. Both can support the creation of new tokens. Minting tokens is done by sending a transaction that generates new tokens inside the token smart contract. A call to a smart contract function can generate an unlimited number of tokens without spending the energy.
Mining also creates new tokens, but the limited as per consensus tules of blockchain, and it also requires spending energy. Mining serves other benefits like securing the network and it packed the new transactions into blocks.
Mintable Token Examples
There are lots of mintable ERC20 tokens are there. Here are some of the most popular tokens,
DAI is a decentralized stable coin that can be pegged into $1 used in the MakerDAO system. Users can lock their crypto assets (ETH) inside of the MakerDAO contract, and in return get DAI tokens. Every time ETH is locked in CDP (Collateralized Debt Position), new DAI tokens are minted by the MakerDAO contract.
Status is an open-source platform that uses its native SNT token as a mechanism for governance of the status client, as a utility token for enabling push notifications in their messaging application, as well as for curation of user-generated content on their network. The SNT token has a cap on total supply, but a lower current circulating supply. New tokens can be minted by the controller's address.
Decentraland is a virtual world site owned by its users. Users create products and services and trade them using MANA tokens. Mana tokens are Mintable and flammable ERC20 tokens.
Mintable Tokens in Crowdsales
Mintable tokens are popularly used in combination with crowd sales. The crowd sale contracts are widely used to create an ICO where the ERC20 tokens are sold for ETH. Below are the mechanism used for combining the mintable tokens with crowd sale,
ICO maker deploys a mintable token contract, giving them a Minter role.
ICO maker deploys the crowd sale contract
ICO maker transfers the Minter role to a crowd sale contract. Only crowd sale contracts can mint new tokens.
The crowd sale starts, the investor wants to invest in new tokens. then they send ETH to the crowd sale contract, contract mints ERC20 tokens at the current price, and them to the investor.
When the crowd sale finished, no one can mint more ERC20 tokens. This will assure the investors that no one can dilute their share of token holdings.
Why BlockchainAppsDeveloper For Tokenmint Clone Development?
BlockchainAppsDeveloper is the leading ERC20 Token Development Company, offers the best ERC20 token creation service with which you can create your ERC20 token at an affordable cost. We have delivered the best and reliable crypto tokens that come under the Ethereum blockchain standards by integrating the essential and security features based on your needs.
For entrepreneurs or startups who are looking to start a token creation platform like Tokenmint, We provide the best token mint clone script to start your token creation platform for your business.
If you have any queries, Then connect with our blockchain experts right now!