Creating Your Own Cryptocurrency

Aspects of Cryptocurrency

One of the first and most vital aspects of cryptocurrency is how it is regulated and protected. This is usually done through the use of public ledgers and/or series of code. The most popularized version of this is known as blockchain, which is the method that Bitcoin uses to keep its transactions public, decentralized, and secure.

Tokens vs Coins

Here lies one of the more important details about cryptocurrency: the difference between coins and tokens. Coins, like Bitcoin, Ethereum, etc., all use their own individual version of blockchain to function. Tokens, on the other hand, simply take an existing blockchain — most often Ethereum — and function off of that.

Intention

One main question you must answer for yourself, when making your own cryptocurrency, is why? Lots of people participate in the crypto world because they believe in the “message” that cryptocurrency has. In other words, they’re attracted to the idea that it’s decentralized, or regulated by the community and a series of code rather than a government. This means that there is no main authority over decentralized cryptocurrencies.

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