cryptocurrency development india

How To Create And Develop Your Own CryptoCurrency

Almost every day in the cryptocurrency world, new coins appear. This is due to the desire of the majority to create their own ones. Someone seriously wants to create a coin, and someone just wants to figure out how it works. Or simply prove to everyone that it is quite possible to do it yourself.

It does not matter what purpose you pursue. In this article, we will consider both the technical aspects of creating a coin and the ways of its promotion in the world of cryptocurrency. Let’s start?

Technical Aspect of Creating Crypto

On the Internet, you can easily find a lot of useful information on how to create own crypto. The question is only for what purpose do you want to create a coin. If just for the sake of fun or a deeper understanding of how it works, then this is quite real.

But as for the withdrawal of your crypto to the market and exchanges, you should clearly understand that if you do not have enough technical skills and programming fundamentals, you will expect many pitfalls.

It’s very difficult for many coding experts to complete the process, so do not build “castles in the air”. You need to understand that you may need the help of professionals both at the technical stage and in the promotion.

That is why at the end of ICO White Paper you can see a huge team, where each participant was engaged in a separate stage. But now let’s look at the technical process of creating crypto:

1.   Choose Source Code for Future Currency

The most popular platform for this is GitHub. There you can find many existing codes and useful info. Thus, you do not have to write the code for your currency yourself. (Although if you have an understanding of how to do it yourself, then why not.)

Let’s get back to this platform. Go to the site and select a code that already exists, which will become the foundation of your network.

You can also create a coin or token thanks to existing blockchain platforms. For example with Ethereum and EOS.

2.   Download Libraries

The library is an extension that will ensure the normal and proper functioning of the base code for your currency. But here everything is far from as simple as it might seem. You still need technical skills!

When you download the library you need to take the base code and replace the name of the currency with your own. This can be done using various programs. Remember that among them can be both paid, and free. Below you will find a list of programs that you can use:

You will also need to indicate the maximum number of coins issued and bounty.

3.   Network Port Settings

If you understand little about programming, then at this stage you may need the help of professionals. Or spend a lot of time to sort out this point. If you make a mistake in configuring the network ports, you may expect a transaction problem. You probably understand that such problems will then negatively affect your image and complicate the process of promoting the crypt.

Back to the settings. You will need to select four free ports. And after that, you will need to enter them into the code that you received at the very beginning of the work on creating the crypt.

4.   Proceed to Security Settings

There probably is no point in delving into the importance of security. But still, it is worth emphasizing once again that in the context of cryptocurrency this is a decisive factor. The success of your crypto and user loyalty will depend on security.

You will need to generate a user key. It is such a key that will provide the ability to carry out transactions safely.

How to Promote Your Coin?

When your crypto is technically ready, the no less difficult stage of promotion begins. The advent of cryptocurrency has created the emergence of new specialties. Today many companies offer PR in the field of cryptocurrency and are engaged in promoting your project from start to finish. Of course, you can try to do it yourself, but be prepared it is not quick and easy. Here are the main points that you need to do for the coin to be successfully published.

  • You need to create a team. If you do not have a team, then this will indicate that you are just an amateur. Typically, the ICO team includes creators, technicians and impressive advisers.
  • You need your website, where there will be information on your coin, team and so on. You will need to create a White Paper where your ICO will be described in detail. Usually, it is necessary to describe the purpose of creating a coin, how it solves the problems of society, technical aspects, a roadmap, and so on. White Paper (WP) will be needed so that everyone can find out why to choose your coin and how it works. Also, you will send WPs to sponsors and so on. Moreover, it is better to have a multilingual white paper and provide foreign investors with a convenient opportunity to read it. Therefore, you will need the help of translators, for example, you can contact The Word Point translation service which can quickly cope with this task.
  • Your project should actively appear in the media. To do this, you will have to turn to many impressive sites in order to promote your project and make it recognizable.

As you can see, cryptocurrency promotion requires a lot of effort and in most cases financial costs. But it is quite possible! Many ICOs become real. Therefore, nothing prevents you from making your coin successful!

Conclusion

Now you are convinced that creating a crypt is quite realistic. The main condition for this is the willingness to take time and think a bit. Bringing a coin to the world and exchanges will take a little more effort than its technical development. But today, nothing is impossible concerning the world of cryptocurrency. So do not waste time and start working on your coin!