Talk To A Token Development Specialist
Our development team has developed numerous cryptocurrency tokens, built on robust blockchain platforms.
Benefits of Token Development
Why develop your own custom token?
When you rely on pre-made tokens to fulfill your business needs, you’re limited to their pre-programmed abilities.
However, with a custom token, you can benefit from so much more than just an easy way to represent your assets.
Many big-name companies like Crypto.com have developed their own cryptocurrency because it’s so great for branding. Having your own cryptocurrency gives your business a competitive edge and shows customers that you’re a modern company.
Cryptocurrencies allow your customers to choose from multiple payment options, and they may start to see your business token as a more trustworthy and reliable way to complete transactions.
Cryptocurrency is notoriously secure. It’s easy to trace and hard to cheat, which means transactions completed with your cryptocurrency are more secure. With your own cryptocurrency in place, you won’t have to track transactions as rigorously as before and can save your business both time and money.
3. Easy Transactions
If your business sees lots of international customers, having an easy transaction process is essential. Currency exchange rates and transaction fees can deter customers from doing business with you. Cryptocurrencies remove this hindrance, though.
With a custom cryptocurrency token, you make transactions easier for both local and international customers. As a result, your customers won’t have to worry about exchange rates, and transaction fees can be very low.
Token Development Features
When you develop a custom cryptocurrency token, you benefit from certain features that aren’t available when you use generic cryptocurrencies.
Burnable, Mintable, and Pausable
Custom token development comes with the ability to make your tokens burnable, mintable, and pausable, this is part of the tokenomics mentioned earlier on this page. Burnable tokens mean you can quickly and easily reduce the number of tokens circulating, while mintable means you can increase the number. Don’t want to change the number of tokens, but need to stop circulation momentarily? Pause your tokens.
Only you have control over burning, minting, and pausing your tokens.
With your own tokens, you can put a cap on your tokens to limit someone from creating more tokens than they declared.
When you use cryptocurrency tokens for your business, you don’t have full ownership. However, when you develop your own business token, you have complete and total ownership over the tokens. You can mint, burn, and manage your tokens easily as you’re the owner and not simply using someone else’s tokens for your purposes.
A Few Final Thoughts to Consider:
- Organizing everything in a proper workflow is the absolute key.
- It is very important to spend a good amount of time on the functionality needed for the smart contracts.
- The more Nodes the consensus mechanism will utilize, the safer the network tends to be.
- Whether your token should run on a public or private blockchain
- How to best deal with Consortium Solutions. Ethereum, Hyperledger, Etc
- Are physical things being managed? In other words, do we need to consider smart management?
- Who can see the transactions
- Who can make the transactions
- Assure you own all source code.