How and why to create their cryptocurrency
A Life / / December 19, 2019
Alexander Kalinin
Contributor blokcheyn community DeCenter.
In April 2018, "the most popular person in Russia» Olga Buzova said he wanted to release cryptocurrency Buzcoin and conquer all the digital space. A successful debut did not take place, but Buzova is an excellent example of what every person without deep knowledge programming and technology can create your cryptocurrency, benefit from it a lot of pluses and pass the advanced user.
Why create a cryptocurrency
1. Ease and speed of financial transactions
In some cases, namely when buying online, cryptocurrency use more comfortable than plastic card. When shopping at foreign websites, the user pays for a package of dollar account with an electronic purse. The transaction for various reasons, can break away and not take place, you will be without its cover for your phone or other very important things.
Digital asset that is transferred to blokcheyne, does not stay in the points intermediaries, and almost immediately comes from the client A to B. supplier
P2P-economy ( "equal to equal"), in which the two parties find each other and make a deal within a technologically open platform, greatly improves our lives. All stakeholders need their own money, coins, points. These awards help to develop a relationship with customers.
For example, Kim Kardashian can distribute KimCoin coins (let's call them so) their most loyal fans, and then only let these coins to private presentation or give a discount when buying. Why did not she just send out millions of dollars to your fans? In blokcheyne it will take a minute, and in the modern financial system, which is constantly changing and varies depending on the country, it is simply unrealistic to make quick payments without middlemen and commissions. Fans also can apply immediately KimCoin: refer a friend to buy something from Kim, digging for something special.
2. Simplify your business activities
If you have a business, you just need to organize cryptocurrency process. Internal Token - Coin project - will help increase profitAnd it says the law of microeconomics, the main thing to aspire to any production.
Digital currency like the loyalty program, organizes and simplifies the entire production process. Customers will pay token service, which, unlike the usual bonuses, do not lose their value and keep the original preset rules for their application. Calculations will be performed and recorded with the help of a unique, invented by you and by this the best coin, but not a simple iron and digital.
3. Passive income and own ego
If you suddenly own business remains a matter for you to "then, when the time will be," the site can be a tool cryptocurrency passive earnings. If the coin is backed by a reserve stock, as soon as the dollar with gold, it can be exchanged for a well-known Bitcoin and then get a regular, well-liked paper cash.
Or maybe you are one of those who wants to repeat the success of Bitcoin: Create your cryptocurrency and wait for the passive income from admiring users?
Finally, if someone familiar is in the purse cryptocurrency behalf of you, the limit of his own pride will reach the maximum scale.
Where and how to create your cryptocurrency
The process of creating such a complex cryptocurrency not what may seem. Projects offer about the same concept of issue. The above-mentioned Olga Buzova thanks to a team of specialists put their project on Ethereum platform - the most popular among all the peers.
1. Ethereum
This blokcheyn developed a Canadian-Russian programmer Vitaly Buterin. He suggested that the technology of smart contracts - self-fulfilling algorithms intended to enter into and maintain commercial contracts blokcheyn technology. Thanks to this development Ethereum network in the shortest possible time has become the second platform popularity kriptorynke not Only among the start-ups wishing to spend ICO, but also among the major software developers such as Microsoft, IBM and Acronis.
How to release a coin
The process for creating cryptocurrency Ethereum easy, it is desirable to know the programming language Solidity and ERC stick to standards. The most popular is the ERC-20, which supports numerous functions.
1. Initially, you need to come up with a name of the currency, for example LifehackerCoin, and select ticker - usually three or four letters, which will be briefly denoted coin. We take the LHC.
2. Then you need to set the maximum value of the tokens: how many of them will exist in nature. For example, 10,000.
3. It is also worth to determine whether the coin in the division into small pieces, the ruble is divided by a penny or a dollar - for cents. If yes, then how many pieces you can divide one unit - you decide.
4. Ready data must be transferred to the smart deal on GitHub. To do this, you need to download two documents that end in .sol. Paste the data from six public variables:
- name - the name of the token - LifehackerCoin;
- symbol - a symbol, abbreviation - LHC;
- decimals - the number of characters after the decimal point - 10;
- totalSupply - total number of units token - 10,000;
- balanceOf - mapping (Mapping the process of what data should be exchanged as they are used), which contains addresses of balances;
- allowance - mapping, which contains data about the permissions on the spending of funds from foreign addresses.
5. Then you need to zadeploit data, that is, to deploy them on the platform. On the issue of coin it takes about 15-20 minutes.
system Benefits
Ethereum network advantages lie on the surface: the popular blokcheyn has established itself as the most proven and reliable to create cryptocurrency.
Disadvantages of the system
- Recently, due to the increased popularity of 700% network experiences high loads. All transactions are made slowly - 15 minutes and more, they become unprofitable due to the ever-increasing transfer fee. Therefore, many of the projects closed during the creation and reject the idea of token release.
- Network requires some knowledge, so creating coins on Ethereum can not be called "one-click" process.
2. Ripple
His cryptocurrency can be created on the platform RippleOr, more precisely, to its credit network XPR Lager. It gives participants the opportunity to network issue its own loans for any purpose, by issuing tokens, which can be a value of any asset: currency, property, services and so on.
Loans are electronic promissory notes, bills of digital - it is a promise of the issuer (the creator of the currency) to pay the holder indicated value of the new coin. It was at this moment there is a great feature Ripple platform: releasing their tokens, you can not give them all in a row.
How to release a coin
1. Go to the website The World Exchange - is not only a market, but also the interface to the wallet with Ripple platform. The principle of operation of this site is similar to the principle of MyEtherWallet work, where you can create Ethereum purses and work with them. The World Exchange allows you to create a purse Ripple, replenish it, to buy and sell XRP (digital currency Ripple) and other tokens, send XRP other wallets and, most importantly, create your own tokens.
2. In the upper right corner of the website The World Exchange, click on Login or Create a Ripple Account.
3. If you created a new address, to get started you need to send it at least 25 XRP: 20 XRP to activate the purse and XRP 5 for opening an order to release the token. This can be done using any kriptovalyutnoy exchange that supports withdrawal in XRP.
4. For the release of the coin select Site Issue Left click interface, enter the number and ticker symbol of your token, as well as price and ticker token, which is the base currency of your token. Of course, as the base currency, you can select the USD, EUR, or any other. But if you are using as the base currency XRP, the value of your token will be automatically converted at the current exchange rate on any other currency.
5. After the release of tokens do not forget to add in settings defaultRipple = true, which will allow holders of your token to send it to other purses.
system Benefits
Ripple is one of the most popular existing platforms. Coin XRP is the third place in terms of capitalization. When you create your network automatically organizes coins trustline - trust line, which is linked to the issuer's purse. Sense of trust line is that no one can send you their tokens without your consent. For example, a scammer can issue tokens to BTC ticker and send them to you, saying that these tokens are provided with bitcoin.
Disadvantages of the system
- To convert coins wallet purse recipient must trust the issuer cryptocurrency, that is you. This process is similar to the transfer of data on the iPhone Airdrop: photos from your last party does not chip in your friend as long as it does not allow you to do so.
- To activate Ripple addresses to be transferred reserve of 20 XRP - exactly as many coins will always be in your wallet and will never be displayed from the account. Even if much is necessary, it is still impossible.
3. NEO
Another alternative platform for the creation of a cryptocurrency NEO. It is called the Chinese Ethereum similar functionality for systems and mission.
How to release a coin
The process of creating their own kriptomonet no different from Ethereum. Only for the production of coins on NEO observe NEP-5 standard.
1. Go to the NEO website, click on the Client tab.
2. Download documents from Section NEO-GUE and NEO-CLI.
3. Fill in the coins and put them on GitHub.
system Benefits
Unlike its main competitor - Ethereum, Chinese NEO platform supports multiple programming languages: Java, F #, C #, Kotlin, VB.Net, Microsoft.net, Go, and Python. It is beneficial to companies who want to release their coins. NEO currently supports 1,000 transactions per second, and takes no transaction fees.
Disadvantages of the system
- To run the token on the NEO, you have to pay about 500 coins GAS - token network, through which charged commission (depending on the course, about 50 000 dollars). Create own assets on the platform takes time.
- Members questioned the decentralization platform, since all project coins owned OnChain. This means that the coin released in the NEO will monitor the closed community of the company, which is contrary to the principle cryptocurrency.
4. Minter
Not so long ago started the project Minter with his blokcheynom, on the basis of which it is possible to produce their own cryptocurrency. Within the network there BIP coins - Blockchain Instant Payment ( «instant blokcheyn-payment"), or beep, each of which currently costs about 6 cents, but in the future the price will rise. Beeps will be the basis for new cryptocurrency how the gold was for the US dollar. Moreover, the provision creates an absolute and immediate liquidity for all market participants, since any coin can be exchanged for any other just a couple of seconds and without a mediator.
How to release a coin
1. Create your own coin takes approximately 2 minutes. The site of the project need to be registered and then enter the data on the token itself. What will it be - solves each user independently. Coins can be integrated into your business or tokenized any activity where you need to make three-dimensional transaction in a short time.
- Coin name - for example, Lifehacker.
- Ticker coins - the abbreviation of 3-10 uppercase English letters.
- Number of release - that is how much of your coins will exist in the world.
- Number of redundant BIP - providing liquidity via Minter project base currency.
- CRR - is responsible for the BIP ratio of continuous backup as part of the new released.
- Coin for commission payment - one that will be similar to the Gas Ethereum.
2. After filling in all the lines and clicking "Create" you are automatically transformed into the owner of his own cryptocurrency, which can be exchanged for other coins issued in Minter network core cryptocurrency - beloved bitcoin and fiatnuyu, familiar to all the currency - the dollar USA.
system Benefits
- The BIP, as well as any other currency issued on the platform, is quoted by the market. This means that the coins, unlike other platforms have real security. Yes, the currency could take off, can fall, there is nothing special. The BIP, on the basis of which the user will create its own coins, you need to buy. For example, if we pay a token for Lifehacker 1000 BIP and set the CRR to 10%, in the production get 100 000 coins. The average price of 1 would have been LFH 100 BIP.
- Anyone can get coins from the BIP project. To do this, you need to register with the Telegram-boat and wait for the free distribution of tokens (Airdrop), which will begin after the launch of the core network.
Disadvantages of the system
Minter until the project is classified as start-ups. The rest of the system has shown a willingness to work with large data sets and, most importantly, the platform can provide the basis for the release of his cryptocurrency.
Most importantly, choose the platform to fit their needs and continuously monitor its activities.
Whichever method of creating cryptocurrency you choose, remember that blokcheyn any project calls for a attention, so it is constantly interested in updates and innovations network that coins were intact. Release your kriptoaktiva makes you one step closer to a truly new and advanced technologies that will help simplify many economic processes related to the transaction of money.
see also
- Popular and expensive: guide cryptocurrency →
- 7 ways to make money on cryptocurrency →
- Sites, lectures and books for those who want to understand the cryptocurrency →