This article was first published on @iotex - Medium
This is Phase 4 of IoTeX’s #DeFIoT series to unlock the trillion-dollar IoT data market. To learn more, see our #DeFIoT manifesto.
The trusted exchange of value and information is a benchmark of why blockchain is so revolutionary. The introduction of cryptocurrencies in the form of both fungible and non-fungible tokens has sparked innovation in global finance via DeFi, as well as countless other industries. Now it is time to unleash the true power of tokens for the Internet of Things (IoT).
For IoTeX, the tokenization of IoT data and devices is a critical part of our #DeFIoT vision. We envision a world where everyday people and businesses can not only own their devices/data, but also monetize their digital assets as part of a decentralized, global marketplace. In September, we introduced ioTube, stablecoins, and mimo DEX to bring DeFIoT to life. Today, we are excited to expand our DeFIoT vision with the IoTeX Token Minter!
Token Minter is a web-based dApp that streamlines the creation of new XRC20 & XRC721 tokens. With Token Minter, anyone can create a new IoTeX token with just a few clicks. To get started with Token Minter, see our end-to-end tutorials to create your own fungible and non-fungible tokens on the IoTeX Network — no developer experience required!
In the rest of this blog, we share perspectives about fungible and non-fungible tokens to get you ready to mint your own tokens on the IoTeX Network.
Fungible Tokens (XRC20)
The XRC20 standard provides a standardized set of commands for users to launch and interact with fungible tokens on the IoTeX Network. XRC20 tokens are fungible (i.e., identical and interchangeable) and implemented as decentralized smart contracts, which are executed on the IoTeX Virtual Machine. XRC20 tokens are commonly ...
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@iotex - Medium