Rhizome: Create Your Own Cryptocurrency
The blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been agiler in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
Moving on to today's proposed topic... How easy is it to create a crypto? Whatever your need to create a cryptocurrency, Rhizome.red is the easiest way to create your own cryptocurrency. The Rhizome.red network allows you to create a real cryptocurrency independent of other cryptocurrencies without knowledge of computer development.
As I said before, Rhizome (RZM) (https://www.rhizome.red/) is an open code based on blocks designed to democratize and improve the Rhizome project itself by having a community that wants to share the moral and economic values of the block chain. Therefore, the idea of the rhizome is to develop the creation of a cryptocurrency in its own right. In addition, the objective of this project is to produce a new modular cryptocurrency, without affecting the topology of its decentralized network and based on the Bitcoin structure.
As for how to create a new crypocurrenty ... Currently there are two ways to create a cryptocurrency:
| Copy the bitcoin code (fork) modifying some parts including the genesis block to separate them from the Bitcoin network. | Create a token from an intelligent contract. (This method, although it seems to suggest that we are creating a new cryptocurrency, depends entirely on the protocol that governs the intelligent contract.) It adapts to simple uses. |
|---|
Due to the difficulties of intelligent contracts, the Rhizome team rejected the second method since it does not consist in the creation of a cryptocurrency, it is only about managed values in a contract whose existence is limited by the protocol that governs it. So the first solution is better.
Although at first sight it may seem feasible, it turns out that some considerations have to be taken into account.
| Consideration # 1 | Consideration # 2 |
|---|---|
| When a person decides to create their cryptocurrency it is to bring something new to the protocol, otherwise use Bitcoin. For this, it is necessary to have a deep knowledge of the source code of Bitcoin, with the risk of creating failures that make the protocol obsolete. | The network. Bitcoin works with a decentralized network and depends on the activity of the nodes: no nodes, no Bitcoin. |
Therefore, the creation of a cryptocurrency must necessarily involve motivating the actors to maintain this new decentralized network. A new currency usually has no value, so players have no interest in participating in the network. At first, Bitcoin was not successful, the relatively weak use of the network allowed to know an existence with few actors, although the reward was low. In addition, Bitcoin has benefited from the primacy: a new way of managing the stock market in a network without trust.
For this reason, the main objective of Rhizome is to produce a modular cryptocurrency, without affecting the topology of its decentralized network and based on the Bitcoin structure to improve the way to create cryptocurrencies.
Bounty program The project gives the opportunity to earn Rhizome (RZM) tokens performing some social media tasks and doing simple steps from the bounty program explained into the Bitcointalk Platform. Here (https://bitcointalk.org/index.php?topic=4577913.0) you can access the link in order to see what are the conditions to become an early RZM contributor and start acquiring tokens.
Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://drive.google.com/file/d/1mmtPP5sAgiBpiyqSRlsRuECE8skfBxJH/view). You can also stay tuned in their official Telegram group (https://t.me/rhizome_red_official). I hope you liked the post and soon I'll send you new ones.
Roadmap
| Date | Events |
|---|---|
| October 2017 | This is the official birth of the Rhizome.red project, from which we developed the operation of the Rhizome.red network. Then Stéphane and his short-term employees supported him to launch alpha versions of the Rhizome project. |
| January 2018 | We have launched an Alpha Test in a fictional network to understand the technical functioning of the Rhizome network. |
| April 2018 | In collaboration with the student-researchers of the University of Paris V, we launched a second Alpha test that was conclusive, we could see the reaction of the Rhizome Network about the cryptocurrencies that many actors have and others that have much less. We have been successful in developing a successful Rhizome network that meets our expectations. |
| May 2018 | We register on social networks, to start communicating our project. |
| Summer 2018 | Launch of our Bounty program and the sale of our RZM Token. |
| Autumn 2018 | Official launch of the Rhizome.red network and the rhizome.red portfolio on computers. |
| Winter 2019 | Launch of the Rhizome.red mobile wallet (iOS and Android). |
Token details
Token: RZM
Platform: Ethereum
Type: ERC-20
Price in ICO: 1 RZM = 0.20 USD
Tokens for sale: 90,000,000
Author Details
Telegram username: @clauming
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71
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