What ERC-20 and OpenZeppelin Solve for You!
While exploring how to build my own custom tokens, I discovered ERC-20, and it completely changed my perspective.
First, What Is a Custom Token?
A custom token should have:
- Name, Symbol, and an Owner
- The Owner can mint tokens for themselves
- The Owner can also mint tokens for others
- Tokens can be transferred between users
These are the basic functions every custom token needs. I even tried writing one myself—around 50–60 lines of Solidity code. (Check it out here: customToken.sol
But Here’s the Problem…
If everyone writes their custom tokens differently, how will wallets recognize and support them?
This is where ERC-20 comes in. It provides a standard structure that ensures tokens are compatible with wallets, exchanges, and dApps. ERC-20 defines a set of rules for building tokens so they can interact seamlessly within the Ethereum ecosystem.
However… It’s Still a Lot of Work
Even with ERC-20, you still need to write a lot of code.
What if there are bugs? (Trust me, that’s almost guaranteed.)
What about the security of my contract?
Enter OpenZeppelin
OpenZeppelin offers secure, audited ERC-20 contracts that you can simply extend and customize to fit your needs.
✅ Less Code, More Security
✅ Community-Tested and Audited
✅ Reduced Risk of Vulnerabilities
Here’s how easy it is to create tokens with OpenZeppelin: openzippelin.sol
What’s Next?
I’m now diving into other standards like ERC-721 (for NFTs) and IERC. I’ll definitely share more updates soon!
Top comments (0)