Hey 👋 good morning Into the day's article I wanted to Share the Step-by-step guide on How to create a non-alarming token based on SLP using Electron Cash Wallet.
As 2020 and the New Year approaches, Non-Replaceable Token Assets started gaining popularity. By 2021, NFT vendors had sold millions of artifacts and collectibles. Though the original Rare Pepe collection was first introduced to the BTC, NFT solutions were exceptional on the ETH chain as well.
Token solutions and NFTs have also spread to other blockchain networks, and in 2019 there was still news. A recent article from Bitcoin.com provides an overview on how to create an NFT using the Simple Ledger Protocol (SLP). Although Bitcoin Cash's NFT technology is still young and needs to become more robust, it has matured a lot since our initial NFT creation guide using the SLP framework.
in order to get started the latest version of Electron Cash SLP (3.6.6) must be installed on your computer before. The Github repository for the project hosts PGP signatures and file extracts.
To create and send SLP-based tokens, a small portion of Bitcoin Cash (BCH) will also be required. This is similar to the gas function used by Ethereum to beat and push ERC20 token transactions. The article will explain to you how can create an SLP token using only nickel ($ 0.05).
From here you need to download the desktop version of the Interplanetary File System (IPFS), which allows you to upload files to the IPFS node network. If you have a small fraction of bitcoin cash (BCH) in your newly created Electron Cash SLP, you can continue customizing your new SLP NFT1 type token.
There are eight tabs in the wallet interface to choose from, and one is labeled "tokens." At this point, just hit the “Tokens” tab and there is another tab at the bottom of the wallet that says “create a new token”.
This opens a window in the SLP version of Electron Cash, which allows you to customize the SLP tokens and create a single, non-replaceable device. To complete my experiment, I created a token called “Hysteria (HYS)” and the documentation on the NFT is shown here. Using the wallet, I entered the “token name”, the “token symbol” and the “document URL”.
IPFS plays a role here because you upload the file to IPFS before creating the token and then you get a URL link from IPFS after uploading. The IPFS link leads directly to the collectors' text or graphic document files.
The NFT, which I created on Monday night, was exceeded on approximately 10/5/2021
After you add the IPFS URL to the "Document URL" field in the wallet personalization fields, make sure you check the "fixed attention" and "NFT parent" tabs. Because the NDP is not substitutable, the token has no decimal places, which basically means that it cannot be divided into fractions.
Using the "preview" button on your Electron Cash SLP wallet can provide more detailed information about the token creation before you create it. As soon as everything is right, click the "create a new tab" button and the beating will begin.
The sale of BCH NFT taps and Waifu NFT taps
The BCH NFT Exchange web portal also has a general guide to help people learn how to sell Bitcoin Cash-based NFTs. Once you have learned the platform exchange process, you or anyone can simply press create an exchange to create an on-chain exchange without the risk of partners.
Those interested in exchanging BCH-based NFTs can visit the Reddit forum / r / slpswap / to announce the offer. Irreplaceable SLP-based token creators can also choose to sell their NFTs through the memo.cash web portal, which is also home to the SLP Trading Exchange.
Due to the relatively recent development of Bitcoin Cash NFTs, there should be a number of wallets capable of recognizing URL links from IPFS or another universal framework. For example, there is the website waifufaucet.com where people can get free and unique 2D anime art NFTs that have been overtaken on the BCH chain.
The makers of Waifu NFT also have a “Waifu Research Telegram Group” that can be used to discuss Waifus and NFT technology. Currently, most wallets do not recognize IPFS URLs or linked graphics, which essentially means that the NFT stored in an incompatible wallet does not display an image if there is an attached graphic (jpeg file, png).
As SLP's development has been relentless since its creation three years ago, such a situation is unlikely to continue for long.