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Create your own cryptocurrency

Machine Learning and Artificial Intelligence are two buzz words that people heard since few years. Blockchain Technology and cryptocurrencies are another two more words which you can’t avoid in recent past. 

Many articles, news, blogs about the history of cryptocurrencies were published frequently in financial dailies. Those who have silent on cryptocurrency once were discussed about Bitcoin and Litecoin in their blogs.


First, you should understand the difference between a coins and a token. Coins are cryptocurrencies that are based on their own blockchains whereas tokens don’t have their own blockchain and relay on existing one. Coins are mainly meant for digital payments and tokens are used to execute smart contracts. Without discussing the definition and basics of digital currency, directly jumped into the subject what are the points keep in your mind before creating own cryptocurrency.

  •        Know your Business Idea

Check your business idea before creating new cryptocurrency. Put your ideology in white paper along with technology and methodology used in your business

  •         Consensus algorithm

Using proof of work (PoW) one should get consensus agreement among all the participating nodes.

  •         Selecting a blockchain technology

It is your choice to choose the relevant blockchain platform to your business needs. There are number of top blockchain platforms available today in the market. Ethereum (market share is  82.70%), Openchain, NEM, EOS and IOTA etc.


  •         Design the nodes in your blockchain

This is completely technical job. There are many features that you can design your nodes like make your node either private or public. It is your option in selecting server hosting or server less (Cloud) hosting. Blockchains depend on nodes for efficiency, support, and security.

  •        Blockchain Internal Architecture

It is advised to create the best internal architecture for your blockchain. It can’t possible to change the architecture once your cryptocurrency launched. Giving permissions for creating new blocks, Key management in developing system to store and protect private keys to access are involved in internal architecture.

  •         Integrating Blockchain APIs

If your blockchain is completely new you should better to relay on third party providers for developing APIs. Chromaway, Bitcore, Neuroware, Coinbase APIs etc.




  •         Designing User Interface (UI)

Good looking UI is always enables users to build accurate communication and added value to your cryptocurrency.

  •         Make your cryptocurrency is valid

Still there are many rumors and doubts on digital currency. It is your responsibility to make your crypto is legitimate and valid one to create trust among the users. Due to that you can avoid legal problems and promote your digital currency in the market.

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