That said, the ERC-20 standard on Ethereum has remained the dominant pathway for creating new tokens since the beginning, making it the primary choice for crowdfunding and ICO use cases.

One thing to remember for bep-20 token development is the similarities to creating a token on Ethereum and BSC. Both processes require using the same programming language, tools and thought processes.

But in the future developers will be able to use Azure Blockchain Tokens on the public ethereum blockchain or even at distributed ledgers created by some of Microsoft’s own competitors.

These tokens trade on top of the Ethereum blockchain (ERC-1404) and are available for users to trade 24/7/365.

To interact with Hexel you need to have a MetaMask wallet connected to the Ethereum network, since these newly issued tokens literally live on the Ethereum Blockchain.

Tokens can also be tools, such as in-game items, for interacting with other smart contracts. But put simply, a token is nothing more than a smart contract running on top of the ethereum blockchain.

Token airdrops – and the prospect of them – have become a major customer acquisition strategy for Ethereum's layer 2 scaling projects. But is this strategy a sustainable one?