A popular video demonstrating how simple it is for anyone with an internet connection to start a brand-new cryptocurrency from scratch has recently gone viral after meme coins caught the attention of the larger cryptocurrency industry.
Shitcoin Creation Now Takes Less Than 23 Seconds!
Digital artist Johnny Shankman, also known as whitelights.eth on Twitter, created and deployed an entirely new token, jokingly called “EASY_MONEY,” in just 27 seconds in a “speedrun” on May 6. However, a day later, a time of 22.45 seconds broke the previous record.
Shankman demonstrates in the now-viral video how anyone can rapidly create a new token by using a tool called Contracts Wizard, developed by the cryptocurrency cybersecurity company OpenZeppelin. With a few short cursor clicks, the Contacts Wizard tool generates code for an ERC-20 token. Users of the program can choose from a variety of possible attributes for their token.
About EASY_MONEY (EZ) and Shankman
In order to deploy the token’s smart contract on a certain blockchain network after the code has been written, Shankman uses a program called Remix. In the video, Shankman chooses to use the Ethereum testnet to distribute his EASY_MONEY (EZ) token.
He stresses that by installing EASY_MONEY on the Ethereum testnet, it is not a real currency to be speculated on. He adds that the video was “for educational purposes only” in the comments.
About the New Record
A novel video from another Twitter account that showed the same procedure being finished in just 22.45 seconds set a new unofficial meme coin speedrun record less than 24 hours later.
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