The number of cryptocurrencies explode on the rise. Most of them are commonly called on the Internet shitty coins (level 1) or crypto tokens (Level 2).
Y currency (currency) is an item of value specific to block chain. Y Live (token) is an asset in digital form that you do not own not its own blockchain. It is based on an existing blockchain infrastructure and is not necessarily linked to a solid project.
In this document we will see how create your cryptocurrency (currency) and then how to create in crypto tokens (Level 2).
Create a crypto currency with the top-tier blockchain
Are you a programmer and want to create your own cryptocurrency?
To create a cryptocurrency Level 1 you will have to start from 0. You will have to invest in servers. The investment the departure can be quite heavy to bear.
you must also be patient because the creative process is borrowed. It will take a long time to find the perfect product.
It is possible to create your own cryptocurrency and your own blockchain by following the tutorials. The biggest problem is that your blockchain could not sure enough if you are not an IT security expert.
to create your own blockchain you must have :
- A very powerful computer (stable, reliable).
- Huge storage space (with backups).
- A personal server (so you have to know how to manage it).
The process of creation from your own blockchain it’s just a startt. Once you have coded and mastered all aspects of the technical side of your blockchain, you can create a Initial offer of virtual currency. In exchange for another cryptocurrency, you will give investors coins that you have created in your own cryptocurrency. It is a fundraising and a release of your currency.
The stages :
- Define the role of your crypto (usage)
- Define the protocol that completes a transaction
- Node configuration (authorizations, hosting, etc.)
- block chain construction
- API Implementation
- Creation of the interface
- Legalizing your crypto
Fork an existing cryptocurrency
This method (fork) allows you to create tokens. It is the best option for those who I don’t want to invest large sums in the creation of cryptocurrencies.
It is actually possible to create a token using a blockchain existing. This amounts to “forking the cryptocurrency”.
In fact, when developers create cryptocurrencies backed by third parties, they can use them to create a set new cryptocurrency for example, the litecoin was created by a fork you bitcoin.
There are many block chain platforms which can help you create your own cryptocurrency. You can issue your own coin token using:
Blockchain as a Service (BASS)
Companies and the services they provide to create and maintain blockchains for other companies have grown in response to the growing need for these services. These companies are called blockchain as a service » (baas).
For those who don’t want to be sucked into technical stuff, outsourcing design is the best option.
most of new cryptos created use the blockchain Ethereal and its chips. Some of the most prominent platforms for these types of services include Ethereum, Counterparty, Waves, Bitshare, Qtum.
Promotion and financing of your crypto
It is a fundraising in which the investors. They will be able to buy tokens of your crypto in exchange for existing cryptos. This allows them use your crypto, buy Sell using this currency and taking share in decisions related to the blockchain.
This is a crucial aspect (the investment) that distinguishes a cryptocurrency from other cryptocurrencies. Remember that more than five hundred coins are on the market, and that some vanish almost as fast as they were thrown. Therefore, it is important to evaluate both the risks and the costs, without forgetting communication and crowdfunding.
So don’t forget to develop a plan to make the promotion of your crypto.