MyCoin: Your Online Guide on How to Make a Cryptocurrency

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Everyone is so into cryptocurrencies ever since Bitcoin introduced its open-source code to the world. People have been creating their versions of Bitcoin and tweaking the system to make it their own. You might be wondering how to make a cryptocurrency.

It’s programming and programming, nothing more and nothing else. But, can people create cryptocurrencies for themselves? Find out by reading more.

The Easy and Hard Way

If you want a coin named after you right away, the easiest way is to issue your coin using existing platforms like Ethereum, BitShares, TRON, and Cardano, to name a few. In this scenario, you will enlist your coin in the blockchains platforms of enumerated above.

However, you will be subjected to the limitations and functions of your chosen blockchain platform. But, the good news is you don’t have to create your own blockchain platform.

And that’s where the hard way comes in. If you want a coin named after you and your coin is in a blockchain platform independent from other platforms, the first thing you need to do is build your blockchain platform.

You will need programmers who are experts in the blockchain technology. Instructional videos won’t help you, and you need to know this kind of technology.

To put in common terms, imagine yourself as a performer. The easy way is to join a crew. The hard way is performing on your own. So, what would you do?

Another Way – Yes, There is

If you think existing blockchain platforms aren’t suitable for your goals, then making your platform is just the solution. However, there’s a way for that.

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Have you ever heard of the term “blockchain-as-a-service” or BaaS? There is now a growing demand for BaaS companies. But how do they work?

BaaS platforms do hard labor for you. If building a blockchain requires time and resources, BaaS platforms can get it done for you with more access to resources and talent. Examples of such are Amazon Web Services (AWS), Microsoft Azure, and IBM Blockchain, to name a few.

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Final Thoughts

Building a cryptocurrency takes a lot of hard work and coding. It takes understanding, dedication, and inspiration. Having a cryptocurrency designed by you can be a great honor if given a lot of determination.

While cryptocurrencies become popular and highly criticized, there is so much opportunity in the field of blockchain and cryptocurrency. A piece of advice: use technology wisely and ethically.

 

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