Tuto: How to create your own cryptocurrency and launch an ICO

kouba01 (80)in #cryptocurrency • 6 years ago

The creation and launch of crypto-currencies were previously reserved for cypherpunks and other hackers but now there are solutions to develop and launch your own currency without being a blockchain expert.

Today, 4 solutions are available to you:

Create your own blockchain

You are a developer and you feel the soul of a Satoshi Nakamoto? it is possible to create your own blockchain and cryptocurrency through tutorials. The main difficulty is that your blockchain may not be secure enough if you are not an expert in computer security.

We will not detail the creation of a blockchain from A to Z in this article but we invite you to turn to this very complete tutorial as well as this one.

Fork an existing cryptocurrency

Open source blockchains have been developed and can be easily reused to create new cryptocurrency.

The open source code of a blockchain can be resumed and modified to develop a new currency. Called Fork, we speak of hard fork when the blockchain undergoes important modifications and of soft fork when the blockchain is slightly modified.

For example, we can take the example of bitcoin, the most 'forked' currency because it is the most popular. There are dozens of bitcoin forks and the best known are probably the litecoin and cash bitcoin.

The open source crypto-currency codes are mostly available on the Github website.

Create a token and an ICO on Ethereum or NEO

The Ethereum organization proposes the creation of cryptocurrencies on its network. You've probably heard about ERC-20 chips, they are used by hundreds of crypto's, including some very popular ones like Binance Coin, Augur or EOS and TRON, which recently moved to their own blockchain.

Very popular for the launch of ICOs virtual fundraising, Ethereum is not the only network allowing the creation of a token, the NEO platform also offers this service, here are the main differences:

To go further, here are some articles that may interest you:

Use a cryptocurrency creation service

Crypto-currencies are so popular that platforms now offer the creation of blockchain and cryptocurrencies. By providing the basic information such as name, visual or technical preferences such as limit capping tokens, these new startups create custom token desired, there are different rates. There are even automatic cryptocurrency generators ...

We have not tested this kind of service so we can not recommend one in particular. We invite you to do your own research and pay attention to scams.

Before you start, 3 important things to know:

Innovation and utility are the keys to success

Creating an umpteenth means of payment is a waste of time for you and your investors, this hype has passed and will probably not come back. However, the creation of a cryptocurrency can be very interesting in addition to an innovative project where the blockchain and the token system play a role at the heart of a decentralized system.

The legality of virtual fundraising (ICO)

Ethereum and NEO are the 2 most used networks to launch an Initial Coin Offering, you need to study the legal framework of the country where the chip-issuing company is based before scheduling a launch. Regulations differ greatly between states.

The launch of a cryptocurrency

The main difficulty is not to create a cryptocurrency but its launch. If nobody buys your cryptocurrency, it's worthless. For this, an innovative and concrete project is necessary to convince. A website, a roadmap and a clear white paper are the bare minimum to attract crypto-investors. The communication goes mainly via social networks like Twitter, Telegram or Facebook.

#blockchain #ico #creation