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A recent “speedrun” video shows that anyone can create a brand new cryptocurrency in less than 30 seconds. The term “speed run” is a gaming community lingo and refers to the act of completing a game or a level in game as fast as possible.
In recent time, cryptocurrency enthusiasts have been fascinated with memecoins and the speedrun video that went viral shows just how easy it is to create a brand new digital token.
In the video that went online on the 6th of May, the creator, a digital artist Johnny Shankman (aka whitelights.eth on Twitter), features a “speedrun” of creating and deploying a new token from scratch, which he called “EASY_MONEY”.
Shankman demonstrates how to use a program called Contracts Wizard, created by cybersecurity firm OpenZeppelin, to generate the code for an ERC-20 token with a few clicks.
Then, he compiles the token’s smart contract using an application called Remix and deploys it on a blockchain network (in this case, the Ethereum testnet).
The digital artist also stressed that the video is “for educational purposes only” and that his EASY_MONEY token is not a real token to be traded.
Not surprisingly, the video was picked up by several prominent Twitter accounts and has garnered more than three million views. After all, the popularity of memecoins and similar tokens has surged lately, fueled in part by the success of Pepe, a frog-themed token that saw its value rise over 5,000% in less than a month.
Interestingly, less than 24 hours after the speedrun video went up, another account on Twitter recreated the process and completed it in just 22.45 seconds, setting something of an unofficial record for the fastest memecoin speedrun.