The Hedera Token Service (HTS) is used via a robust set of APIs for the configuration, minting, and management of tokens on Hedera, without needing to set up and deploy a smart contract. Tokens are as fast, fair, and secure as hbar and cost a fraction of 1¢ USD to transfer.
Let’s take a look at why you’d consider using it versus something like a fungible token with a smart contract on the Ethereum Blockchain, and the different types of functionalities that are available within the Hedera API (HAPI):
With HTS, it’s incredibly easy to create a new token that can represent anything from a stablecoin pegged to the USD value, or an in-game reward system.
Create a Token
To show how similar the Hedera Token Service is to use in any of our supported SDKs, here is the same example but in Java.
And here is the same relevant code example for the Go SDK.
Before another account can receive or send this specific token ID, they have to become “associated” with it — this helps reduce unwanted spam, potential tax liability, or other concerns from users that don’t want to be associated with any of the variety of tokens that will be created on HTS.
Transferring these newly created tokens between accounts, after the token has been created and both accounts are associated with the new token ID, is almost easier.
Integrating HTS is incredibly easy, within just a few lines of code in your favorite programming language you can create, associate, and transfer tokens. Please continue reading onto Part 2 of this HTS introduction in order to learn more about the administration functionalities provided by HAPI, and in Part 3 we will discuss other compliance mechanisms like KYC compliance.