A recent viral video demonstrates how easy it is to create a new cryptocurrency in less than 30 seconds. Digital artist Johnny Shankman, also known as @whitelights.eth on Twitter, created a “speedrun” of creating and deploying a brand new token called “EASY_MONEY” in just 27 seconds. Shankman utilized a program called Contracts Wizard by OpenZeppelin, which generates code for an ERC-20 token with a few clicks. Shankman then compiled the token’s smart contract using an application called Remix and deployed it on the Ethereum testnet.
The viral video gained more than three million views across several different accounts on Crypto Twitter, showing how the recent memecoin boom has led to the creation of many “shitcoins.” The video was meant for educational purposes only, and Shankman clarifies that by deploying EASY_MONEY on the Ethereum testnet, it is not a real token to be speculated on. Another Twitter user later beat Shankman’s record by creating a token in 22.45 seconds, setting a new unofficial record for the memecoin speedrun.