To a few who are well informed and know the science, mechanics and finances behind blockchain technology and cryptocurrencies, the concept of token creation and application may be very familiar. But for every one of these crypto geeks, there are probably 20 people out there who do not know what cryptos are, cannot imagine why on earth they cannot continue to use their notes and coins as they always have, and cannot frankly understand the global craze for cryptos.
A wide gap exists between the two groups of persons on the crypto divide, and that is why Hexel has come onboard to bridge this divide by creating a platform for everyday people to conceptualize, create and use cryptocurrency tokens for themselves and their communities.
What is Hexel?
Hexel is an online token creation platform created by John Palmer and Marcus Molchany, supported by a team of developers and programmers.
The entire concept that Hexel is promoting for tokens is contrarian to what other companies that float their tokens using ICOs are doing. The companies launching these expensive ICOs are pushing for global adoption of their tokens for an increase in value, while Hexel wants its platform to be used to create tokens for more localized adoption, and not necessarily for profit.
All tokens created on the Hexel platform are based on the Ethereum ERC-20 smart contracts. While tokens created on Hexel can be listed on an exchange, the service provided by Hexel is limited and cannot extend to such levels of service. Anyone can create as many different tokens as they want. Mining capacity is also extended to all created tokens, enabling token owners to mine as many coins as they want.
Anyone can create tokens on Hexel. The platform makes it all look so easy, and demystifies the entire token creation process. No longer will non-tech people scratch their heads when asked what a cryptocurrency token is. Now it is something that anyone can do on the Hexel platform.
What Is Required for Token Creation on Hexel?
Token creation on the Hexel platform costs $25. This is a huge steal, when you realize that companies that run ICOs and create tokens on them can spend as much as half a million dollars in the process.
Token creation starts with a sign-up process. Once sign-up is completed, the user is taken to the token creation portal where a guided process begins. The process requires the user to download Metamask to be able to add an Ethereum wallet to hold tokens. The process ends with the payment of a $25 sign-up fee.
Hexel for the Individual
Back when I was in the university, we used to gather every Friday evening to play FIFA Pro Soccer. The year was 2000, and we were still relishing the entrance of the very first version of PlayStation and the amazing image graphics that it brought to gaming. So we would choose teams, and play tournaments. Everyone contributed a dollar each, and the tournament winner would take home the entire prize. Despite the cramped conditions which arose from having close to 10 people gaming, cheering and screaming in front of a box TV in a single hostel room, Friday nights were a thing to look forward to.
Fast forward eighteen years later. Everyone now has smartphones and all these gadgets that interconnect us all from every single place on planet earth. You no longer need to squeeze 10 or more people into a single room. Gaming can be done from the comfort of home. If you are a gaming freak, you could setup global tournaments and create your own crypto token to be used in paying out prize money. These cryptos could be redeemed for gaming credits, games disks, graphic cards, or other paraphernalia peculiar to the online gaming world. It may not even be a worldwide thing. It could be done within your small community, where all the kids could plug into your gaming tournaments and win your own crypto tokens created and managed on the Hexel platform.
The ability to create a token which works within your own ecosystem and for your local community is not restricted to gaming. It could be for a community of sports fishermen, or farmers. Or even a token for your small cottage business.
Hexel for the Small Business Owner
For small business owners who are looking for a way to engage more with their loyal customers and the community that they operate in, what better way is there to do this than to promote the use of your own community crypto token? You could use your own in-house token to promote a discount sale or a promotion for your items.
Pros
What are the pros of using the Hexel platform for crypto token creation?
- It is simple to use and easy to understand.
- Suitable for newbies.
- Token creation with Hexel is relatively cheap ($25).
- Ideal for small or community-based projects.
Cons
- May not be the most ideal solution for larger-scale projects.
- Some criticism about its UI.
Conclusion
The process of token creation with Hexel has been demystified to make it easy to create tokens for smaller projects. However, if you want to launch an ICO, Hexel is probably not for you.