Roughly a year ago, the Simple Ledger Protocol (SLP) debuted on the Bitcoin Cash (BCH) network, giving anyone the ability to mint, store, receive, and send SLP tokens. Since then there’s been a ton of tokens created on the BCH network as the simplicity of the system outpaces tokens built on alternative chains like ERC20s and sending the tokens is far cheaper than most networks as well. The following walkthrough describes how to create SLP tokens and airdrop them to your friends and family in a short space of time.
Also read: Bitcoin Cash Update: Multi-Party Escrow, Vitalik Suggests BCH as Data Layer for ETH
Creating an SLP Token Using Memo.cash
Over the last few months the Simple Ledger Protocol, a tokenization platform built on top of the Bitcoin Cash network, has grown very popular among BCH enthusiasts. The reason for this is due to how easy it is to create an SLP token in a matter of minutes. To show how simple it is to mint, store, and airdrop tokens using the SLP tokenization platform, we’ve created a guide on the two easiest ways to get started. After reading this post and performing a few test runs on either the Memo.cash or Electron Cash applications, you’ll be able to create SLP tokens faster than the Fed prints dollars.
One of the quickest ways to mint a token on the BCH network using the SLP platform is through the application Memo.cash. You first need to sign up for Memo.cash and load the account with a small number of satoshis (nickel or dimes’ worth will do) because every action on Memo is basically created with a BCH transaction. If
