This article details how beginners can use Remix and OpenZeppelin to create and deploy ERC20 tokens on the Ethereum test network. 1. ERC20 is a homogeneous token standard on Ethereum, supporting token swaps and common interaction; 2. Preparation tools include MetaMask storage, Remix IDE and test ETH for Sepolia test network; 3. Write contract code by importing OpenZeppelin templates and compile and deploy to the test network; 4. After successful deployment, the token balance can be verified in MetaMask. The entire process helps developers quickly get started with smart contract development and understand the basic operating methods of the blockchain ecosystem.

What is ERC20 token?

ERC20 is a technical standard on the Ethereum blockchain for the creation and issuance of homogeneous tokens. "Homogeneity" means that every token is the same and interchangeable, just like every dollar in money. This standard defines a set of rules and functions that all ERC20 tokens must comply with, such as how to transfer tokens, how to query account balances, etc. It is precisely because of this unified standard that various storage, decentralized exchanges (DEXs) and DApps can easily interact with different types of ERC20 tokens.

Preparation: Essential tools

Before you start, make sure you have the following free tools that are the basis for smart contract development.

1. MetaMask

   This is a browser plug-in storage that is a bridge to interact with the Ethereum network. You need to use it to pay for the “Gas fee” required to deploy the contract (free on the testnet) and manage the tokens you create. Please install it in your browser first and create a storage account.

2. Remix IDE

   This is a powerful, browser-based integrated development environment (IDE) without any local installation. You can write, compile and deploy smart contracts directly on the web page, which is very friendly to beginners.

3. Test network and test ETH

   We will operate on an Ethereum test network called Sepolia. This prevents us from using real Ether, thus enabling zero-cost learning and testing. You need to get some free Sepolia test ETH through the Faucet website to pay for the deployment.

Create ERC20 Tokens: A Step-by-Step Guide

We will use the industry-standard OpenZeppelin contract library to simplify the development process, which provides a safe and reliable ERC20 contract template.

Step 1: Write smart contract code

We don't need to write complex code from scratch, just use OpenZeppelin's templates. It has handled all the core logic for us.

1. Open the Remix IDE website.

2. In the left file browser, create a new file named `MyToken.sol`.

3. Copy and paste the following code into the file:

   // SPDX-License-Identifier: MIT
   pragma solidity ^0.8.20;
   
   import "@openzeppelin/contracts/token/ERC20/ERC20.sol";
   
   contract MyToken is ERC20 {
   constructor(uint256 initialSupply) ERC20("My Token", "MYT") {
   _mint(msg.sender, initialSupply);
   }
   }

4. Code explanation:
   import: Import OpenZeppelin's ERC20 contract standard template.
   contract MyToken is ERC20: Define a new contract named MyToken, which inherits all the standard functions of ERC20.
   constructor: This is the constructor of the contract and is only run once during deployment. It sets the token name ("My Token"), symbol ("MYT") and sends all the specified initial Supply to the deployer (msg.sender).

Step 2: Compile the contract in Remix

After the code is written, it needs to be compiled into bytecode that can be understood by the Ethereum virtual machine (EVM).

1. On the left navigation bar of Remix, click "Solidity Compiler" (second icon).

2. Select the compiler version (for example, 0.8.20 or higher) that matches the `pragma` version in your code.

3. Click the blue "Compile MyToken.sol" button.

4. If everything goes well, a green check will appear on the icon, indicating that the compilation is successful.

Step 3: Deploy the contract to the test network

This is the most exciting step, and we will truly deploy the contract to the blockchain.

1. Make sure your MetaMask storage has switched to the Sepolia test network and has some test ETH.

2. On the left navigation bar of Remix, click "Deploy & Run Transactions" (third icon).

3. In the "ENVIRONMENT" drop-down menu, select "Injected Provider - MetaMask". At this time, Remix will request connection to your MetaMask storage, please authorize and agree.

4. In the "CONTRACT" drop-down menu, make sure `MyToken - MyToken.sol` is selected.

5. Next to the "DEPLOY" button, you need to fill in the `initialSupply` parameter. The accuracy of the token is usually 18 bits, so if you want to issue 1,000,000 tokens, you need to enter `10000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

6. Click the orange "Deploy" button.

7. MetaMask will pop up a transaction confirmation window, displaying the estimated Gas fee. Click "Confirm".

8. Wait for a few seconds, and after the transaction is completed, you will see your contract address in the "Deployed Contracts" area below Remix. Congratulations, your token has been successfully created!

Verify your tokens

After the deployment is successful, you can add tokens to your MetaMask storage to view the balance. Copy the contract address you just obtained, on the "Assets" page of MetaMask, click "Import Tokens", paste the contract address, and the storage will automatically recognize the token symbol and accuracy, click Confirm. You will see that the initial supply you set is all in your storage.

Creating your own ERC20 token is an excellent starting point to enter the world of Web3 and smart contract development. Through this simple exercise, you not only master the basic development tools and processes, but also have an intuitive understanding of how the Ethereum ecosystem works. This is just the beginning, and you can dig deep into more features of the Solidity language, explore other token standards such as NFT (ERC721), or try to build a simple decentralized application (DApp) for your token. Continuous learning and practice are the key to becoming an excellent blockchain developer.

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