- The Cryptocurrency industry is expanding, and new ideas and technologies come up every day
- In recent weeks, the term memecoins have captured the attention of the members of the cryptocurrency community
- Here is how you can create a shitcoin in less than 25 seconds, breaking the record of unofficial memecoin speedrun record
Memecoins have gained attention in the cryptocurrency industry. A video on Twitter showed creating a new cryptocurrency is easy. Johnny Shankman produced “EASY_MONEY” in under 27 seconds. Later, the record was broken in 22.45 seconds.
On May 6, Johnny Shankman posted a Twitter video. He completed a “speedrun” to make and deploy “EASY_MONEY” token in under 27 seconds. The next day, the record was broken in 22.45 seconds.
The word “speed run” comes from the gaming community and refers to completing a game, or level in a game, as soon as possible.
memecoin deploy% speedrun 27s ⏱️ pic.twitter.com/OYaXGb5ITR
— whitelights.eth ⌖ (🦇🔊) (@iamwhitelights) May 5, 2023
In the now-viral video, Shankman demonstrates how any user can easily create a new token. This is by using Contracts Wizard, a technology developed by the crypto cybersecurity business OpenZeppelin. With a few mouse clicks, the Contacts Wizard tool generates code for an ERC-20 token. Users can choose from a variety of potential token features on the program.
READ: Crypto Altcoins built on AI in 2023
After creating the code, Shankman uses an application called Remix to compile the token’s smart contract. He then installs it on a specific blockchain network. Furthermore, Shankman chooses to deploy his EASY_MONEY (EZ) token on the Ethereum testnet in the video.
He emphasizes in the comments section that the video was “for educational purposes only”. Furthermore saying that by launching EASY_MONEY on the Ethereum testnet, it is not a real currency on which to speculate.
Notably, Shankman’s video was picked up by a number of large accounts on Crypto Twitter. This includes Loopifyyy, which has since seen the video receive over 3 million views across a variety of accounts.
Shankman’s message has gone viral at a time when “shitcoins” are becoming increasingly popular in the crypto ecosystem. The latest memecoin craze has been spearheaded in large part by Pepe, an “entirely useless” frog-themed token whose value has increased more than 5,000% since its launch on April 14.
ALSO READ: Mitigating security risks in cryptocurrency payments
In a subsequent comment, Shankman revealed that someone had developed a token with the same name as his explainer, but he “did not make it” and would “not be buying it.”
Another Twitter user posted a new video, completing the same process in just 22.45 seconds, creating a new unofficial memecoin speedrun record, in less than 24 hours.
memecoin deploy% speedrun (rug skip, autocomplete skip) 22.45s (WR)⏱️ @iamwhitelights pic.twitter.com/LDOsfbYNV4
— 𝚍𝚒𝚒𝚍 (@0xdiid) May 6, 2023
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Minting the Future w Adryenn Ashley. Access Here.
- Buy and Sell Shares in PRE-IPO Companies with PREIPO®. Access Here.
- Source: https://web3africa.news/2023/05/12/news/how-to-create-cryptocurrency-shitcoin-in-less-than-25-seconds/
- :has
- :is
- :not
- $UP
- 000
- 11
- 14
- 22
- 24
- 27
- 7
- 8
- 9
- a
- Accounts
- across
- AI
- Altcoins
- an
- and
- any
- Application
- April
- April 14
- ARE
- AS
- At
- attention
- BE
- becoming
- been
- blockchain
- Blockchain network
- Breaking
- Broken
- built
- business
- but
- Buying
- by
- called
- CAN
- Choose
- code
- come
- comes
- comment
- comments
- community
- Completed
- completing
- contacts
- contract
- contracts
- create
- Creating
- crypto
- Crypto ecosystem
- cryptocurrency
- Cryptocurrency Industry
- Currency
- Cybersecurity
- Dark
- day
- demonstrates
- deploy
- developed
- easily
- easy
- ecosystem
- educational
- emphasizes
- ERC-20
- ETH
- ethereum
- Every
- expanding
- Features
- few
- For
- from
- Furthermore
- game
- gaming
- generates
- Group
- had
- Have
- he
- his
- HOURS
- How
- How To
- HTTPS
- ideas
- in
- includes
- increased
- increasingly
- industry
- IT
- ITS
- Johnny
- jpg
- just
- large
- later
- latest
- launch
- launching
- less
- Level
- LG
- make
- May..
- Members
- Memecoin
- Memecoins
- message
- million
- mitigating
- more
- name
- network
- New
- next
- number
- of
- on
- OpenZeppelin
- or
- over
- part
- pepe
- picked
- plato
- Plato Data Intelligence
- PlatoData
- Popular
- possible
- posted
- potential
- process
- Produced
- Program
- purposes
- Read
- real
- receive
- recent
- record
- refers
- Remix
- Revealed
- risks
- same
- saying
- seconds
- Section
- security
- security risks
- seen
- Shitcoin
- showed
- since
- smart
- smart contract
- Someone
- specific
- subsequent
- Technologies
- Technology
- testnet
- than
- that
- The
- then
- this
- time
- to
- token
- tool
- true
- under
- User
- users
- using
- value
- variety
- Video
- views
- was
- Weeks
- when
- which
- whose
- with
- Word
- would
- You
- zephyrnet