This blog post has been updated to include the latest capabilities of the Hedera Token Service.
See the updated version: Get Started with the Hedera Token Service - Part 1: How to Mint NFTs
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.