Developing Own Cryptocurrency
Has anyone here thought of developing their own Cryptocurrency . Right now there are so many cryptocurrencies in the market with different algorithms some are based on Sha 256 , and some based on scrypt , X11 , X13 and so on .
If we consider the no of complexities that are involved in making of the physical dollar bills it is very clear that y most of the people don't start using the digital phenomena and making such a currency is damn easy with a few basic coding skills but apart from that there are certain initiatives too which one needs to make after developing a coin which are as follows
- Marketing the currency
- Code to sustain various attacks in the long run
3)Promoting it at various merchant outlets - Look for miners
- Finally the most important factor Global acceptance
Once a Developer looks into this aspects the coin can gain great popularity and can be used worldwide
When you look at the complexities that go into making a physical dollar bill it’s plain to see why most people don’t start trying to print a new form of currency every day, but making a new digital currency is surprisingly easy for someone with even basic coding skills. But coding isn’t the only step to getting your digital currency off the ground
I did try to make a token coin for artists to use but because their was so many jokers in the field trying to make a quick buck I quickly dropped it, peercoin is one on bit shares I have been following since its start, it's part of why I like steem because it has a solid idea behind it.
Yes there are a number of sites around offering such ideas but you should give a try in cryptonite coins they have a clear guideline you can check their website
https://cryptonotestarter.org/
Very soon token coins will be common. You have to have a community behind it to get it off the ground, like Steem. So even if you know how to code you still need to know how to market it. But that's for now eventually they will be akin to personal credit cards.