Why We Need Ethereum Token?
If you’ve been in Crypto world for a longer time you would have known that tokens makes the work more simpler. In the Ethereum network the Blockchain technology remains advantageous to the users to develop their own projects and DApps using smart contract. This is done through crowd funding (ICO). In this the investors will get certain tokens of that Dapp in exchange of their Ether (Cryptocurrency).
“ICO method of fund-raising for entrepreneurial projects where Crypto token is given in exchange for capital. ICO was developed from IPO (initial publlic offering) where the investor gets shares in the company for the value he/she has provided to increase the capital amount. But in ICO the investors gets digital coins or crypto coins for the authentication of their investments.”
It is not required that the tokens must be well distributed, But if one is creating a DApp, then it is likely that the tokens are owned by as many as possible.
In order to do Initial coin offering to build your own Dapp, token development is an important and unavoidable task.
Ethereum Token Standards
Developers developing ERC20 standard for their token development will help them come under ERC 20 Compliant since most of the DApps have token creations based on the ERC20 standard.
Ethereum Token Development
Token development is made easy with the help of Ethereum token Development company. In order to raise Capital for your Business on a Blockchain Network, developing your Ethereum standards is a must as said above and that too choosing the right standard type would do much good to your business.