You can now create a shitcoin in less than 23 seconds

A viral "speedrun" video from digital artist Johnny Shankman details how anyone can create and deploy an entirely new "memecoin" in just 27 seconds.
A viral "speedrun" video from digital artist Johnny Shankman details how anyone can create and deploy an entirely new "memecoin" in just 27 seconds.

With memecoins having captured 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. 

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 more than 3 million views across a series of different accounts.

The viral popularity of Shankman’s post comes at a time where “shitcoins'' have gained drastically in popularity throughout the broader crypto ecosystem. The recent memecoin boom has been led in large part by an “entirely useless” frog-themed token called Pepe, which has seen its value surge more than 5,000% since its inception on April 14.

In a follow-up comment, Shankman pointed out that someone had actually created a token with the same name as his explainer but divulged that he “did not make it” and he would “not be buying it.”

Less than 24 hours later, a new video emerged from another account on Twitter, that showed the same process being completed in just 22.45 seconds, setting a new unofficial record for the memecoin speedrun.

Magazine: Joe Lubin — The truth about ETH founders split and ‘Crypto Google’