How to Create Your Own SLP Token Using the Bitcoin Cash Blockchain

in #actifit4 years ago

How to Create Your Own SLP Token Using the Bitcoin Cash Blockchain
Since the latest Electron Cash SLP version release and the newly published Badger Wallet extension, Bitcoin Cash (BCH) supporters have been creating an abundance of tokens. Because the tokens are so simple to develop, BCH enthusiasts have created tokens for fun, giving them names like ‘XRP Cash,’ ‘Doge Cash,’ and even ‘BSV Cash.’ The following step-by-step walkthrough details how to create an SLP-based token on the Bitcoin Cash network and distribute them to friends and family.

Also read: An In-Depth Look at Ethereum’s Maker and Dai Stablecoin

Creating a Custom Token on the BCH Chain Using the Simple Ledger Protocol
Ever since the inception of BCH-based token creation applications, Simple Ledger Protocol (SLP) and Wormhole-launched tokens have been a hot topic. Now anyone can create tokens on the BCH network using these protocols, and over the last week, the BCH community has been messing around by creating different kinds of tokens to share for fun. In this guide, we will be discussing how anyone can create a token using the Simple Ledger Protocol (SLP), a project spearheaded by the developer James Cramer with help from programmers like Jonald Fyookball, Calin Culianu, Gabriel Cardona, SpendBCH, and Mark Lundeberg. Creating a token using the SLP version of Electron Cash is very easy and only takes a few pennies’ worth of BCH to get started.

How to Create Your Own SLP Token Using the Bitcoin Cash Blockchain

Step 1: Download Electron Cash SLP Version 3.4.5
The first thing you need to do to create a token on the BCH chain is download the latest version of Electron Cash that includes SLP integration. The SLP code is open source and individuals who are tech-savvy can review the SLP source code hosted on Github. Electron Cash SLP version 3.4.5 can be found at the official website, for Mac and Windows operating systems.

How to Create Your Own SLP Token Using the Bitcoin Cash Blockchain
The Electron Cash SLP edition can be found on the official website.
After downloading a new application, you can simply create a new wallet or import an existing wallet into Electron Cash SLP version 3.4.5. A small fraction of funds (a nickel’s worth will suffice) is required to create a new SLP token. So if the wallet was created from scratch, you need to send some dust to the wallet first to move onto the next steps.Bitcoin-BTC-Technical-Analysis-July-16-696x449.jpg

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