You can now create a shitcoin in less than 23 seconds
As so-called “memecoins” capture the attention of the wider crypto industry in recent weeks, a viral video has emerged detailing just how easy it is for anyone with an internet connection to create a brand new cryptocurrency from scratch.
A May 6 video from digital artist Johnny Shankman — who goes by @whitelights.eth on Twitter — shows him completing a “speedrun” of creating and deploying an entirely new token, humorously dubbed “EASY_MONEY” in just 27 seconds. The record was then beaten just a day later, clocking in at 22.45 seconds.
The term "speed run" originates from the gaming community and is typically used in reference to completing a game, or level in a game, as quickly as possible.
memecoin deploy% speedrun 27s ⏱️ pic.twitter.com/OYaXGb5ITR
In the now-viral video, Shankman shows how any user can quickly create a new token by utilizing a program called Contracts Wizard, created by the crypto cybersecurity firm OpenZeppelin. The Contacts Wizard tool generates code for an ERC-20 token with a few quick clicks of a cursor. On the program, users can select a number of potential features for their token.
After the code has been created, Shankman then uses an application called Remix, which compiles the token’s smart contract and deploys it on a given blockchain network. In the video, Shankman opts for deploying his EASY_MONEY (EZ) token on the Ethereum testnet.
He notes in the comments section that the video was “for educational purposes only” and clarifies that by deploying EASY_MONEY on the Ethereum testnet, it is not a real token to be speculated on.
Notably, Shankman’s video was picked up by a number of large accounts on Crypto Twitter, being reposted by the likes of @Loopifyyy, which has now seen the video gain
Read more on cointelegraph.com
