One of the most amazing and unique features of the Algorand blockchain is the ability to quickly, easily and cheaply create and launch cryptocurrency assets (Coins & NFTs) called Algorand Standard Assets (ASAs).
You can think of it like this: Algorand is the foundation, and ASAs are what can be built on top of that foundation.
ASAs benefit from the security, stability and scalability of Algorand’s underlying technology, and can be either Fungible (non-unique) or Non-fungible (unique) tokens.
Why would someone create an ASA?
ASAs can allow people all over the world to become part of a business or a project by owning a token associated with it. These tokens can have functions or utility (or none) that the business decides to offer their customers, users, fans and investors.
Some applications that are currently being used are customer loyalty points, reward systems, in-game purchases and voting mechanisms, and the possibilities really are endless.
Where do you create ASAs?
First you’ll need to set up a MyAlgo wallet. If you have one already, go to the Dashboard and click on “MyAlgo Wallet” at the top left.
Then click on “Asset Manager”.
Enter your password, and then click on “Create Asset” on the next page.
On the next page, choose an Asset Name (such as AlgoNews), a Unit Name (such as XYZ), the Total Supply, whether or not to have decimal places available for each unit (such as 10.1352 rather than just 10), a link to your website (optional) and any token metadata information (also optional).
Hover your mouse over the “i” next to the headings to read more information about each field.
Next click on “Advanced Options” (if you want).
You can change the Reserve Address and Manager Address here.. please read the information by hovering your mouse over the “i”next to each.
Also here you can enable/disable Freeze & Clawback availability for your token.
Freeze – the ability to halt holders of your token from trading
Clawback – the ability to seize tokens back from holders of your token
** If you’re creating a token that you plan on being traded and having a value, most people look down on it having Freeze and Clawback options enabled, due to you having power over the use and trading of the token. Please do your own research, AlgoNews does not recommend any particular option.
Click on the blue slide bars to enable/disable any of the options on this page.
Then click on “Create Asset” at the bottom.
Congrats.. you’re all done!
WHERE TO LEARN CODING ON THE
ALGORAND BLOCKCHAIN?
To get started check out one of the SDKs for a language you like. That will let you do frontend development.
https://developer.algorand.org/docs/sdks/
For backend development (smart contracts) you have a choice
TEAL (an assembler like language) https://developer.algorand.org/docs/get-details/dapps/avm/teal/specification/
pyTEAL ( a python like language) https://developer.algorand.org/docs/get-details/dapps/pyteal/
REACH ( a javascript like language which is also cross chain) https://developer.algorand.org/docs/get-started/dapps/reach/
Have a look around, pick a frontend and a backend and start to play around :0) Goodluck..
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