Can I create my own cryptocurrency
Sure! You don’t even need to be a programmer to create your own cryptocurrency. The open-source nature of the cryptoverse makes it a relatively easy task.
How to create your own cryptocurrency?
Many existing blockchain platforms can help you to create your own cryptocurrency – as a community coin, a joke, an actual solution to a real-world problem, or for any other reason. You can easily issue your own coin or token via:
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- Ethereum
- EOS
- Waves
- BitShares
- NEM
- Komodo
- Nxt
- TRON
- IOTA
- NEO
- Cardano
- Qtum
If you don’t want to be dependent on any of these platforms, or they don’t offer the functionality you need, you can try to build your own blockchain from scratch.
Of course, the latter approach is much more complicated and requires in-depth training, code/programming skills, and fundamental understanding of the technology.
What does it take to make a cryptocurrency?
In the case of the platforms, often not much. They make creating a cryptocurrency as easy as filling out a web form: just specify a name, how many coins you will need and a few other details, and there you have it — your own cryptocurrency!
You can find most open-source codes of existing blockchains on GitHub. After obtaining a code, you may also want to make changes to it to make sure it allows you to fulfill the purpose of your project.
Note that if you use an established blockchain, your coin is also more secure from the start and could benefit from additional built-in features.
If you wonder ‘’how to create my own cryptocurrency from scratch’’, it includes building a distributed ledger which demands a lot of work. However, it will also give you more freedom and control over your coin, ledger, and its features. You may also choose to fork one of the already existing open-source blockchain projects by changing some of its rules to fit your purpose.
Though, you should have in mind that forking a project doesn’t copy its entire ecosystem and stakeholders along with the code. You will have to figure out the incentives and create a functioning ecosystem to make it all work. Most new cryptocurrencies are basically worthless, especially if there is no one else but you to verify the transactions.
Companies that can create cryptocurrency for you
Growing demand for blockchain-based services has sparked the growth of firms and services that create and maintain distributed ledgers for others. Such businesses are called “blockchain-as-a-service (BaaS)” companies.
They offer various blockchain-oriented solutions for different business needs. Some of them can make a specialized blockchain for you, while others may propose their own infrastructure and related solutions.
Some of the most popular BaaS companies include:
- Amazon Web Services (AWS)
- Blockstream
- Chainzilla
- Chainmakers
- LeewayHertz
- Microsoft Azure
- IBM blockchain
If your project is serious, prepare for more challenges ahead. Maintaining a successful project is way harder than launching it. Maintenance may require further coding, teamwork, a network of computers, and investments in sales and marketing if you want your coin to become known and used. Other steps to get this done will be continued on my next post stay tuned!
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