ICO Lab

Educating the world on cryptocurrency and ICO

How it works

ETHER TOKENS

Ethereum platform not only has its own cryptocurrency (ether) for the betterment, but also own ICO tokens which tend to act as currency themselves. Whole of Ethereum network is the weight of giant nodes connected to each other. In fact, entire network can be visualised properly with it being considered a single entity known as “Ethereum Virtual Machine.” All transactions which have already occurred in the past are updated and recorded with the help of smart contracts. In order to get started, you can create a MyEtherWallet account. It is necessary to have your wallet under your control to eradicate the problem of fraudulence. Download a text editor of your choice. A smart contract is necessary in the process of creating a token. In case you are not a techie, Ethereum’s website lists out the codes you’d be needing for the processions. Click on ‘Deploy New Contract’ from where you’d be landing on deciding the number of tokens, setting how many to exist. Construction parameters are to be given a little more of attention. That is where you get to adjust how your block is mined. To sum it up, creating a token takes less than a minute. Advantage of it being an ether as cryptocurrency, owner gets tagged as a peak of cryptocurrency rich list.

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