using Transaction Execution Approval Language (TEAL) can I make my own coin? - cryptocurrency

Question

Just like ERC-20 Tokens let you make a new currency on the ETH network, is there a way to use TEAL https://github.com/algorand/go-algorand/blob/master/data/transactions/logic/README.md and the algorand network for the same purpose?
i.e. you can do lots of stuff in a "bytecode based stack language that executes inside Algorand transactions" but one simple thing must be just another coin logic with a fixed set of total supply, rules for adding new coin, etc.
i.e. this GUI

Answer 1

Found answer at: https://developer.algorand.org/tutorials/create-dogcoin/
via https://github.com/algorand/go-algorand/issues/2142#issuecomment-835243098
I understand if this question needs to be closed.

Answer 2

Yes, you can use TEAL to create a new token on the Algorand network. Tokens are just a form of smart contracts, and TEAL allows developers to build smart contracts.
However, Algorand has an ASA network (Algorand Standard Asset) which means you can create a token without writing a new smart contract. You can read more about ASAs here.
If you want to do this in TEAL and create a more bespoke token, it is recommended to use PyTEAL. PyTEAL is a Python implementation of TEAL which is much easier to use.
This is an example of an asset in PyTEAL:
from pyteal import *
def approval_program():
on_creation = Seq(
[
Assert(Txn.application_args.length() == Int(1)),
App.globalPut(Bytes("total supply"), Btoi(Txn.application_args[0])),
App.globalPut(Bytes("reserve"), Btoi(Txn.application_args[0])),
App.localPut(Int(0), Bytes("admin"), Int(1)),
App.localPut(Int(0), Bytes("balance"), Int(0)),
Return(Int(1)),
]
)
is_admin = App.localGet(Int(0), Bytes("admin"))
on_closeout = Seq(
[
App.globalPut(
Bytes("reserve"),
App.globalGet(Bytes("reserve"))
+ App.localGet(Int(0), Bytes("balance")),
),
Return(Int(1)),
]
)
register = Seq([App.localPut(Int(0), Bytes("balance"), Int(0)), Return(Int(1))])
# configure the admin status of the account Txn.accounts[1]
# sender must be admin
new_admin_status = Btoi(Txn.application_args[1])
set_admin = Seq(
[
Assert(And(is_admin, Txn.application_args.length() == Int(2))),
App.localPut(Int(1), Bytes("admin"), new_admin_status),
Return(Int(1)),
]
)
# NOTE: The above set_admin code is carefully constructed. If instead we used the following code:
# Seq([
# Assert(Txn.application_args.length() == Int(2)),
# App.localPut(Int(1), Bytes("admin"), new_admin_status),
# Return(is_admin)
# ])
# It would be vulnerable to the following attack: a sender passes in their own address as
# Txn.accounts[1], so then the line App.localPut(Int(1), Bytes("admin"), new_admin_status)
# changes the sender's admin status, meaning the final Return(is_admin) can return anything the
# sender wants. This allows anyone to become an admin!
# move assets from the reserve to Txn.accounts[1]
# sender must be admin
mint_amount = Btoi(Txn.application_args[1])
mint = Seq(
[
Assert(Txn.application_args.length() == Int(2)),
Assert(mint_amount <= App.globalGet(Bytes("reserve"))),
App.globalPut(
Bytes("reserve"), App.globalGet(Bytes("reserve")) - mint_amount
),
App.localPut(
Int(1),
Bytes("balance"),
App.localGet(Int(1), Bytes("balance")) + mint_amount,
),
Return(is_admin),
]
)
# transfer assets from the sender to Txn.accounts[1]
transfer_amount = Btoi(Txn.application_args[1])
transfer = Seq(
[
Assert(Txn.application_args.length() == Int(2)),
Assert(transfer_amount <= App.localGet(Int(0), Bytes("balance"))),
App.localPut(
Int(0),
Bytes("balance"),
App.localGet(Int(0), Bytes("balance")) - transfer_amount,
),
App.localPut(
Int(1),
Bytes("balance"),
App.localGet(Int(1), Bytes("balance")) + transfer_amount,
),
Return(Int(1)),
]
)
program = Cond(
[Txn.application_id() == Int(0), on_creation],
[Txn.on_completion() == OnComplete.DeleteApplication, Return(is_admin)],
[Txn.on_completion() == OnComplete.UpdateApplication, Return(is_admin)],
[Txn.on_completion() == OnComplete.CloseOut, on_closeout],
[Txn.on_completion() == OnComplete.OptIn, register],
[Txn.application_args[0] == Bytes("set admin"), set_admin],
[Txn.application_args[0] == Bytes("mint"), mint],
[Txn.application_args[0] == Bytes("transfer"), transfer],
)
return program
def clear_state_program():
program = Seq(
[
App.globalPut(
Bytes("reserve"),
App.globalGet(Bytes("reserve"))
+ App.localGet(Int(0), Bytes("balance")),
),
Return(Int(1)),
]
)
return program
if __name__ == "__main__":
with open("asset_approval.teal", "w") as f:
compiled = compileTeal(approval_program(), mode=Mode.Application, version=2)
f.write(compiled)
with open("asset_clear_state.teal", "w") as f:
compiled = compileTeal(clear_state_program(), mode=Mode.Application, version=2)
f.write(compiled)