Latest news with #ERC-20
Finextra
a day ago
- Business
- Finextra
A Guide on Crypto Token Development: By Naina Rajgopalan
In the ever-evolving crypto landscape, launching a successful token requires more than just a whitepaper and a dream. Whether you're building a decentralized game, a DeFi platform, or tokenizing assets, understanding the nuts and bolts of crypto token development is mission-critical. The good news? The tools and crypto solutions for token projects have matured, and today's token builders have access to more streamlined, secure, and scalable development stacks than ever before. Let's dive into the key components that define a well-executed crypto token — from standards and smart contracts to tokenomics, compliance, and beyond. The Foundation — Blockchain Technology Every token needs a home, and that home is blockchain technology. It provides the decentralized infrastructure where tokens live, move, and interact. Ethereum, with its robust ecosystem and support for smart contracts, remains the go-to for most developers. But alternatives like Solana and Avalanche offer faster throughput or lower fees, depending on your project's needs. Fortunately, crypto solutions for token projects have evolved alongside these platforms, offering developers a more tailored and efficient way to launch, scale, and manage tokens across different blockchains. What makes blockchain essential in token development? Simple: transparency, security, and immutability. Once a token is deployed on-chain, its behavior follows the rules coded into its contract — rules that can't be altered without consensus. Smart Contracts — The Brains Behind the Token At the heart of crypto token development are smart contracts — self-executing bits of code that define how tokens behave. They handle everything from token transfers to access controls and staking logic. If the token is your product, smart contracts are the operating system it runs on. Developers typically use Solidity for Ethereum-based tokens. Security is non-negotiable here — a single vulnerability can wipe out millions. That's why peer-reviewed libraries like OpenZeppelin are often used for audited contract templates. If smart contracts are the brain, token standards (e.g., ERC-20, ERC-721) are the grammar they speak. These standardized protocols define how tokens interact with wallets, exchanges, and dApps: ERC-20 is the gold standard for fungible tokens — identical and interchangeable units like those used for governance or utility purposes. ERC-721 defines non-fungible tokens (NFTs) — unique assets used in art, gaming, or collectibles. Building with Purpose — Decentralized Applications (dApps) A token isn't much use in a vacuum. That's why so many are created to power decentralized applications (dApps). Think of a DeFi platform where users stake tokens for yield, or a play-to-earn game that rewards users in native tokens. dApps give tokens a life beyond speculation — they anchor them in real-world utility. Tokens act as fuel for these ecosystems — enabling access, powering governance, and facilitating economic activity. The more compelling your dApp, the stronger the use case for your token. Funding the Vision. Initial Coin Offering (ICO) Before you can build, you need capital. Enter the Initial Coin Offering (ICO) — a now-classic method for raising funds by selling newly minted tokens to early believers. An ICO is more than a launchpad. It's a stress test of your community-building, marketing, and token design skills. Successful ICOs require clear utility, strong messaging, and airtight smart contract infrastructure to ensure investor confidence. Economics That Work — Tokenomics Tokenomics — the study of your token's economic design — can make or break your project. It includes supply mechanics (fixed, inflationary, deflationary), allocation (team, investors, treasury), and incentives (staking rewards, burn mechanics, airdrops). Great tokenomics create alignment between users and the project. Poorly thought-out models lead to inflation, sell pressure, and community distrust. The goal is always the same: create long-term utility, scarcity, and value capture. Security Tokens vs. Utility Tokens One of the most common pitfalls in token development is misunderstanding token classification. Utility tokens grant access to features or services in your ecosystem. They're not designed to be investments (though markets often treat them as such). Security tokens, on the other hand, represent ownership or claims on external assets and must follow stringent regulatory frameworks. Understanding the difference — and structuring accordingly — is crucial if you want to stay on the right side of the law. Regulatory Compliance Speaking of law, regulatory compliance has become a defining factor for token projects in 2025. Global regulators are tightening their grip, from the SEC in the U.S. to MiCA in the EU. Getting ahead of compliance isn't just about avoiding lawsuits — it also signals maturity to investors and exchanges. Consider obtaining legal counsel early and structuring token sales to avoid securities classification where applicable. From Code to Chain — Token Deployment and Maintenance Once the code is written, audited, and tested, it's go time. Token deployment and maintenance involves launching the token contract on the blockchain, setting up minting or distribution events, and monitoring for anomalies. But the job doesn't end at launch. Post-deployment responsibilities include patching bugs, upgrading contracts (via proxies), and engaging with the community. Think of it like shipping a product — maintenance is what keeps users happy long-term. Crypto token development isn't about chasing trends — it's about crafting long-term value. From choosing the right blockchain to optimizing tokenomics, every decision you make should align with your project's goals and community. When executed properly, tokens don't just raise money — they create ecosystems. They power dApps, foster decentralization, and enable new models of ownership and governance.
Arabian Post
08-05-2025
- Business
- Arabian Post
G7 to Confront North Korea's Crypto-Funded Cybercrime Surge
Leaders of the Group of Seven nations are set to address the escalating threat of North Korea's cryptocurrency-fueled cybercrime at their upcoming summit in Alberta, Canada. The agenda reflects growing international concern over Pyongyang's use of digital asset theft to circumvent sanctions and finance its weapons programmes. North Korea has emerged as a dominant force in global cybercrime, with its state-sponsored hacking groups, notably the Lazarus Group and TraderTraitor, orchestrating sophisticated attacks on cryptocurrency platforms. In 2024 alone, these groups were responsible for stealing over $1.3 billion in digital assets, accounting for approximately 61% of the total crypto thefts that year. Such activities have significantly bolstered North Korea's foreign currency reserves, with cyberattacks reportedly generating up to 50% of the country's foreign exchange earnings. One of the most significant incidents attributed to North Korean hackers was the $1.5 billion theft from the Dubai-based cryptocurrency exchange Bybit in early 2025. The attackers employed malware-laden trading applications to infiltrate the platform, subsequently laundering the stolen funds through a complex network of blockchain transactions. This breach not only marked the largest crypto heist to date but also underscored the regime's advanced cyber capabilities. Beyond large-scale exchange hacks, North Korean cybercriminals have diversified their tactics to include social engineering schemes. The 'pig butchering' scam, for instance, involves operatives establishing fake online relationships to manipulate victims into investing in fraudulent cryptocurrency ventures. Such schemes have defrauded individuals, particularly retirees, of billions of dollars, further fueling Pyongyang's illicit revenue streams. The international community has responded with a series of sanctions and regulatory measures aimed at curbing North Korea's cyber activities. In May 2025, the U.S. Treasury's Financial Crimes Enforcement Network proposed banning Cambodia-based financial firm Huione Group from accessing the U.S. financial system. Huione is accused of laundering at least $4 billion in illicit funds, including $73 million in cryptocurrency linked to North Korean cyber heists. Similarly, South Korea imposed sanctions on 15 North Korean individuals involved in cyber theft and crypto heists, targeting their overseas operations that funnel funds back to Pyongyang's weapons development programmes. See also FFGI Set to Launch ERC-20 FFG Token to Transform Film Financing Despite these efforts, North Korea continues to refine its cyber strategies. The regime has reportedly infiltrated foreign companies by deploying operatives posing as freelance IT workers, thereby gaining access to sensitive systems and facilitating further cyberattacks. Such tactics not only enhance the regime's ability to steal digital assets but also pose significant risks to global cybersecurity. Arabian Post – Crypto News Network
Forbes
25-04-2025
- Business
- Forbes
Crypto-First Banks Are Coming To Shake Up The Banking World
Crypto banks look set to redefine the banking sector in 2025 The Federal Reserve is the latest U.S. regulator to clear the path for crypto banking to enter the mainstream, so let's take a look at where the market stands and how it might evolve. One of the implications of the pro-crypto policies pursued by the Trump administration is that the banking sector is positioned to undergo a transformation via both the expansion of crypto friendly banks as well as the launching of multiple crypto-native banks. As of this writing the only federally chartered crypto operating in the U.S. is Anchorage Digital Bank NA, with other efforts such as those launched previously by Paxos National Trust and Protego National Trust having faced obstacles at the federal level. One other institution of note is FV Bank, which operates as a U.S. licensed digital bank, providing a platform where clients can manage both traditional USD accounts and cryptocurrencies. FV Bank services encompass digital asset custody, traditional banking services like payments, and support for various stablecoins. Even in face of state-based efforts such as in Wyoming the regulatory outlook has remained challenging since cryptoassets first became a mainstream financial markets topic; these icy market conditions seem set to finally begin thawing. To understand the importance of such developments in the U.S. banking industry crypto investors and advocates would be well served to reflect on how crypto banking hopefuls were treated in the past. One notable example is the ongoing legal battle between Custodia and the Federal Reserve, following multiple denials for inclusion in the Federal Reserve system despite substantial efforts by the firm to satisfy previously stated requirements. Despite these setbacks, in March 24 the firm partnered with Vantage Bank to tokenize U.S. dollar demand deposits on Ethereum via ERC-20; the appetite and interest in tokenized payments continues to accelerate. In short the U.S. banking landscape has proven to be difficult, if not outright hostile, to crypto-native institutions, but this has not stopped innovation and the creativity in the space. As this outlook continues to pivot to a more hospitable one, let's take a look at what this means for crypto investors going forward. One of the missing pieces of the cryptoasset ecosystem has been the lack of ability for investors to generate yield from investments and/or holdings. Notable collapses and potentially fraudulent activity that have occurred at various DeFi and stablecoin protocols in the past have not helped in the effort to develop legitimate options for investors. Most recently, Resolv Labs closed a $10 million seed round to not only expand a crypto-native yield platform utilizing the USR stablecoin, which amplifies the influence of the $450 DeFi protocol of the same name. Other crypto leaders such as Circle, via its announced plans to go public, have ignited conversations about the possibility of distributions from stablecoin issers to future investors. Especially for banking institutions looking to offset some of the price and regulatory volatility that comes with the space, the ability to generate yield is an essential part of this plan. Interest generating cryptoassets also have the potential to entice institutional investors to support crypto-native banks, whose more patient capital will not be as volatile as retail investors can be during periods of uncertainty. Having an additional income stream will also elevate another subset of the cryptoasset sector to even higher prominence than had already been achieved; stablecoins. One of the few areas that comprehensive legislation has moved forward to any extent, least of all to the significant manner the STABLE and GENIUS acts have, is legislation pertaining to stablecoins. This makes sense for a number of reasons. First, stablecoins are intrinsically a straight-forward on-ramp for TradFi institutions, retail investors to gain exposure to the crypto space, highlighted by the reduced volatility that many such instruments provide. Second, recent efforts by Circle indicating its intent to go public and expand partnerships with U.S. banks build on similar efforts in the European Union. Notably, Societe Generale-Forge is planning to update its EUR Convertible stablecoin to comply with MiCA regulations as ING reportedly works on a stablecoin project as well. Stablecoins provide an almost tailor-made method for financial institutions to enter the crypto sector, have regulations that have passed (in the European Union) or are making significant progress (in the U.S.) and also provide the institutions a vehicle to duplicate the interest bearing accounts that have become more enticing given the higher rates of the post-COVID era. In addition, for audit and bank examination purposes, stablecoins promise transparency and fungibility that have proven difficult to duplicate with other existing crypto instruments. The evolution of the cryptoasset ecosystem continues to accelerate in new, and somewhat unexpected directions, as consolidation and greater integration with the TradFi space look set to dominate the market in 2025 and beyond. Stablecoins, providing stability, traceability, auditability, and yield (income) potential for institutional players and customers alike, look well positioned to play a leading role in crypto banking growth moving forward.
Associated Press
28-01-2025
- Business
- Associated Press
Setting Up a Crypto Exchange: Key Steps to Success
Establishing your own cryptocurrency exchange is a promising business opportunity in a rapidly growing industry. To create a functional, secure, and user-friendly platform, it's essential to follow specific steps and understand the critical processes involved. Defining Key Features of Your Exchange The foundation of a successful crypto exchange lies in its functionality and security. Essential features include: Support for popular cryptocurrencies like Bitcoin, Ethereum, Tether, and Ripple. Compatibility with multiple blockchains, such as ERC-20, BEP-20, and TRC-20 networks. Integration of payment systems to enable fiat-to-crypto transactions via credit cards or bank transfers. Advanced security measures, including two-factor authentication (2FA) and cold wallet storage. These features ensure your platform caters to a broad audience while maintaining security and reliability. Leveraging White Label Solutions A White Label solution is a cost-effective and efficient way to launch a crypto exchange. These pre-built platforms can be customized to meet specific requirements, saving time and resources compared to building an exchange from scratch. Key benefits of White Label solutions include: Pre-integration of major cryptocurrencies and blockchain networks. Automation of core processes. Ongoing technical support for smooth operation. Integrating Popular Cryptocurrencies To attract users, your exchange must support essential cryptocurrencies: Bitcoin (BTC): The foundational cryptocurrency requires robust integration, either through Bitcoin Core or third-party APIs. Ethereum (ETH): Support for smart contracts and ERC-20 tokens is vital for compatibility with decentralized applications. Tether (USDT): Ensure compatibility with ERC-20, TRC-20, or BEP-20 networks. Ripple (XRP): Known for fast and low-cost transactions, XRP requires integration via the Ripple API. Adding Fiat Payment Options Expanding accessibility through fiat transactions is crucial. This involves integrating payment gateways like PayPal or Stripe and implementing KYC/AML protocols to meet regulatory requirements. Such features attract users who are new to cryptocurrencies. Prioritizing Security Security is paramount in the crypto space. Implement cold wallets to store user funds offline, ensure platform encryption through SSL certificates, and enable 2FA for all accounts. Regular audits are essential to detect and mitigate vulnerabilities. Testing and Launch Before going live, thoroughly test your exchange to ensure seamless transactions, efficient fiat integration, and system stability under high loads. A smooth user experience is key to building trust and attracting a loyal user base. Conclusion Building a crypto exchange requires careful planning and execution, but leveraging tools like White Label solutions simplifies the process. To learn more about setting up a successful platform and gaining insights into industry best practices, read the full article on White Label Exchange! This release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements. Country: Seychelles
