Cryptocurrencies are reshaping the world of finance, and more people want now to create their own crypto to tap into the benefits they can provide. Creating a new crypto (token, or coin) from scratch is not an easy process. It requires a team of developers and a lot of time. But luckily, the rise of no-code platforms has changed the game for many and it’s now possible to launch a token in a few minutes.
In this article, I will look at the growing trend of no-code development and how these platforms are allowing people to enter the token world without extensive technical knowledge.
No-code what?
No-code platforms for creating a token are a relatively new development that have arisen in reaction to blockchain technology’s complexity and technical nature. Although traditional no-code apps have been around for over 2 decades.
Since the emergence of the ERC-20 standard, programmers no longer had to write the code for the underlying smart contracts when designing unique tokens on the Ethereum blockchain, which dramatically lowered the entrance barrier for a lot of people looking to launch their own token. We can take this as one of the first no-code solution for crypto builders.
Since then, numerous complte no-code platforms have emerged that allow individuals and businesses to create and launch their own custom cryptocurrencies without extensive programming knowledge.
We saw earlier in the article The future of business: How no-code platforms are making it easy for entrepreneurs to create their own token the opportunities that no-code platforms bring to entrepreneurs wanting to create their own crypto but which no-code platform to choose.
The crypto no-code builder leader
Side.xyz is a cross-chain platform that enables users to build and control meta-ecosystems, NFTs, and tokens. Users can develop and manage on several blockchain networks. Using Side.xyz, individuals and companies can generate tokens without any prior coding knowledge. Additionally, it offers a user interface that can be customized and connections to different blockchain networks.
There are plenty of other no-code tools you can use. Check out HackerNoon’s An Overview of No-Code Tools for Web3 article for more.
How do no-code platform work?
The interface typically includes pre-built templates or modules that the user can choose from to create their token. These templates might include features such as a block explorer, wallet, transaction history, or smart contract functionality. The user can then customize these features using an easy-to-use interface, without needing to write any code.
In addition to pre-built templates, many no-code platforms for creating cryptocurrencies also offer drag-and-drop functionality, allowing users to create custom workflows and logic by dragging and dropping elements on a visual canvas. For example, a user might create a workflow that triggers a smart contract when a specific condition is met, such as when a certain amount of token is sent to a particular address.
These platforms typically use a graphical user interface (GUI) builder which allows users to create interfaces visually, and a workflow engine, which enables the creation of custom workflows and logic. Some platforms may also use low-code technology, which allows for some level of customization through code without requiring extensive coding knowledge.
What is needed to get started?
To start using no-code platforms, all you need is a MetaMask and potentially some balance in your wallet to pay for the platform services depending on the platform you use, but the cost is nothing compared to that of a process of creating a token from scratch.
The process of creating your own token token using these platforms is very simple.
Using a no-code platform to build your own cryptocurrency project is a quick and affordable solution that can help you save time and money. Here are the fundamental actions to take:
1. Choose a no-code crypto builder platform that suits your needs: The first step is to choose a no-code crypto builder platform. Choose a platform whose features and capabilities correspond to the needs of your project. Using the platform Side.xyz, users may build and manage tokens, NFTs, and meta-ecosystems.
2. Choose a template: After deciding on a platform, you may pick a pre-made template to serve as the framework for your project. These templates often feature a crypto project’s basic structure and functionality, such as the production of tokens and the construction of smart contracts. Side.xyz include template like SafeMoon or Shiba Inu. Discover How to create crypto like Shiba Inu using no-code platforms.
3. Modify your project: Once you’ve selected a template, you can make changes to your project to suit your needs. The total number of tokens to be issued, their characteristics, and the distribution of tokens must all be determined. Making use cases that correspond with the needs and preferences of your target market and including distinctive features that set your coin apart from other coins can both contribute to the appeal of your project.
4. Publish your project: Using the user-friendly interface of the no-code crypto builder, you can publish your project to the blockchain network after customizing it. Your project will become active and usable on the blockchain network as a result.
If you want to have an actionable tutorial on how to create your crypto, I redirect you to this dedicated article: Creating a Token for your business: A step-by-step guide
Some of the issues that cryptocurrencies address include:
Financial exclusion
Some countries have no access to traditional financial services, so they use crypto instead. For businesses, creating their own token means access to new markets and customer segments, particularly in countries with unstable currencies or limited access to traditional financial services, such as Indonesia or Venezuela. By implementing token payment method, a business can reach customers in emerging markets, or hire people from countries that don’t have access to traditional payment methods.
Discover more about The role of cryptocurrency in advancing financial inclusion.
Lack of transparency and accountability
Since all blockchain transactions are recorded on a publicly accessible ledger, cryptocurrencies can provide a greater transparency for the businesses using them. The fact that all transactions can be seen and validated can increase the credibility of a business and create trust between a business and its customers.
Many crypto companies have the mission to restore trust, transparency and that at all levels of the company (operational, hierarchy, financial flows …)
As Coinbase stated on Twitter: “We believe transparency is a critical part of accountability and maintaining customer trust. We’re proud to be one of the first in the crypto space to release a transparency report and we plan to publish one on a regular basis moving forward.”
This is also one of the reasons why Side.xyz was launched. Providing companies with quick and easy access to the web3 will help bring more transparency to businesses.
Inflation and currency devaluation
For cryptocurrencies are designed to be deflationary i.e., with limited supply, they eliminate, or at least decrease the risk of inflation. This could offer a more stable alternative to traditional currencies. Blockchain technology is decentralized, which means it’s not controlled by any government or financial institution. This can help reduce the risk of fraud and corruption, as well as promote financial inclusion.
Privacy and security
Cryptocurrencies are designed to secure transactions and protect users’ privacy by using cryptographic techniques. Users have greater control over their financial transactions and data, and are more protected against fraud, identity theft, and other forms of financial crime.
Are there any downsides of no-code platforms?
The existing no-code platforms are good for those who want to build in Web 3.0 with little to no technical knowledge, however there are a few downsides that you should be aware of:
Limited customization
No-code platforms may offer limited options for customizing the features and functionality of your token token, which could limit its usefulness and adoption.
Security concerns
No-code platforms may not have the same level of security measures in place as custom-built solutions, and it is crucial to ensure that your token is secure since it involves the transfer and storage of valuable assets, which makes it vulnerable to hacks and other security threats.
Dependence on third-party providers
No-code platforms rely on third-party providers for hosting, security, and other services, which could create dependencies that limit control and flexibility. Always do your research before choosing a platform to build on to avoid the pitfalls.
Final words
The emergence of no-code platforms has significantly lowered the entry barrier to the creation of crypto tokens for non-tech savvy people. These platforms offer user-friendly interfaces and a simple set of tools that allow anyone to design and customize their cryptocurrencies, smart contracts, and other decentralized applications (DApps). Creating a token using these platforms is easy, as all you need is a MetaMask wallet.
As more people realize the benefits of blockchain and cryptocurrencies, no-code platforms are going to become very popular and probably start charging for their services. It is now a great time to start exploring the possibilities of crypto and create innovative solutions to complex problems in the near future.
