Binance Chain is a decentralized cryptocurrency exchange platform launched by Binance in April 2019. The native token of the Binance Chain is BNB.
Binance Chain uses the Tendermint consensus algorithm and is capable of processing 1,400 transactions per second.
Binance Chain makes it easy to create your own token. You can do this through the use of the Binance DEX (decentralized exchange).
The process is simple and only requires a few steps.
First, you will need to create a wallet on Binance Chain. You can do this by going to the Binance Chain website and clicking on the “Create Wallet” button.
Once you have created your wallet, you will need to deposit some BNB into it. This can be done by sending BNB from your existing cryptocurrency exchange account or from another Binance Chain wallet.
Once you have deposited BNB into your wallet, you will need to create a new account on the Binance DEX. This can be done by going to the “Create Account” page on the Binance DEX website and entering your desired account name and address.
Once your account has been created, you will need to generate a new deposit address. This can be done by clicking on the “Generate Address” button on the “Deposit” page of the Binance DEX website.
Once you have generated a deposit address, you will need to send some BNB to it. This can be done by going to the “Withdraw” page of your existing cryptocurrency exchange account and entering the deposit address that you generated on the Binance DEX website.
Once the withdrawal has been processed, you will need to wait for around 20 minutes for the transaction to be confirmed on the blockchain. Once it has been confirmed, you will see the funds in your Binance DEX account.
Now that you have funds in your Binance DEX account, you can create your own token. To do this, you will first need to go to the “Create Token” page on the Binance DEX website.
On this page, you will need to enter some basic information about your token such as its name, symbol, and total supply. Once you have entered all of this information, you will need to click on the “Create Token” button.
Once your token has been created, you will need to issue it on the blockchain. To do this, you will first need to go to the “Issue Token” page on the Binance DEX website.
On this page, you will need to enter the amount of tokens that you want to issue and click on the “Issue Token” button.
Once your tokens have been issued, they will appear in your wallet on the Binance DEX platform. You can then trade them with other users or hold them in your wallet for future use.