• eur/usd 1.1862

    0.18

    BTC/usd 15.674.99

    8.60

    ETH/usd 674.99

    13.60

  • eur/usd 1.1862

    0.18

    BTC/usd 15.674.99

    8.60

    ETH/usd 674.99

    13.60

  • eur/usd 1.1862

    3.95

    BTC/usd 15.674.99

    4.78

    ETH/usd 674.99

    11.37

How To Create Your Own Cryptocurrency?

Firstly you need to decide whether its a coin or token. A coin has its own blockchain, while a token is built on a pre-existing network.

Inorder to get started you need to create your own token , the following must be considered:

  1. Its Utility
  2. Tokenomics
  3. Legal status
  4. Choice of blockchain
  5. Consesnsus mechanisim
  6. Achitecture
  7. Project audit
  8. Then finally legal check

NB: Anyone can create a cryptocurrency, however developing a solid project requires serious work and dedication.

Diffrences between a coin and a token

  1. A coin runs on its own blockchain network whereas a token can be built on existing blockchains with an established user base.
  2. A coin requires advanced blockchain knowledge and coding skills whilst a token is created using preexisting tools and opensource code
  3. With coins the blockchain development is more costly and takes time whereas token development is faster, simpler and relatively cheap.

Steps to create a coin

  1. Create your custom blockchain
  2. Pick consensus mechanism. Proof of work and proof of stake
  3. Design the Blockchain architecture
  4. Begin blockchain development
  5. Audit your crypto and its code
  6. Doublecheck legal aspects
  7. Mint the cryptocurrency

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