Topic: Choice between create new Coin or Token (Read 95 times)
any other votes/opinions?
i'll say go with a new coin because that way you will have a stand alone currency that doesn't rely on anything else. for example if you create a token and something happens to that platform (like the congestion you said) you can't do anything about it and you have to bear the consequences. but if it is your own coin you can come up with solutions.
but at the same time i don't see any reason why you do either of these two because of your purpose! you say it is for item trading. so if you restrict people to a certain coin/token you are restricting your audience too. and most people regard altcoins purely as an investment to play around not something they actually use. which will also restrict your customer even more.
Yes, your are right there. actually [myCurrency] will serve 2 purpose; will be used in the website and as investment or trading. but at the same time i don't see any reason why you do either of these two because of your purpose! you say it is for item trading. so if you restrict people to a certain coin/token you are restricting your audience too. and most people regard altcoins purely as an investment to play around not something they actually use. which will also restrict your customer even more.
i'll say go with a new coin because that way you will have a stand alone currency that doesn't rely on anything else. for example if you create a token and something happens to that platform (like the congestion you said) you can't do anything about it and you have to bear the consequences. but if it is your own coin you can come up with solutions.
but at the same time i don't see any reason why you do either of these two because of your purpose! you say it is for item trading. so if you restrict people to a certain coin/token you are restricting your audience too. and most people regard altcoins purely as an investment to play around not something they actually use. which will also restrict your customer even more.
but at the same time i don't see any reason why you do either of these two because of your purpose! you say it is for item trading. so if you restrict people to a certain coin/token you are restricting your audience too. and most people regard altcoins purely as an investment to play around not something they actually use. which will also restrict your customer even more.
with that kind of concept you should go on creating a new coin because creating an token relies on the ethereum network and if the ethereum goes wrong again many holders of your token will get stuck on their transaction while if it is a coin you can just update it if there's an problem and you can also make your wallet free fee's on every transactions
voted for "new token" .
after getting successful and as per need you can move on new coin , but you should start with token IMO .
Ahh good point there. Thanks for your opinion.after getting successful and as per need you can move on new coin , but you should start with token IMO .
If you have a clear idea of the underlying technology I'd say going with a true coin is better, especially if this coin isn't going to provide exotic features and you can implement it in a few weeks.
Tokens are good for claiming funds, but you need to provide strong evidence you are going, and you are able to implement your vision.
I forgot to mention in OP. Im not planning to do ICO or crowd sale. Will this change your point of view? Thanks.Tokens are good for claiming funds, but you need to provide strong evidence you are going, and you are able to implement your vision.
(edited OP to include this info)
If you have a clear idea of the underlying technology I'd say going with a true coin is better, especially if this coin isn't going to provide exotic features and you can implement it in a few weeks.
Tokens are good for claiming funds, but you need to provide strong evidence you are going, and you are able to implement your vision.
Tokens are good for claiming funds, but you need to provide strong evidence you are going, and you are able to implement your vision.
voted for "new token" .
after getting successful and as per need you can move on new coin , but you should start with token IMO .
after getting successful and as per need you can move on new coin , but you should start with token IMO .
hello all.
I am currently developing a website in which a user can trade items with other users. This website will have a currency; let's call it [myCurrency].
In order to sell an item in this site, a user has to pay fee in terms of [myCurrency]. At first, my plan is just to create a Virtual Currency (VC) like those in mobile game. But as opposed to VC, [myCurrency] will be able to be traded also; in which crypto currency is more suitable.
Plus to show support for cryptocurrency and decentralized world, I decided to create my own cryptocurrency.
Enough intro, after some research now i'm at point where i need to choose whether to create a:
a) new coin (such as btc, ltc etc)
or
b) new token from existing platform (such as ETH, NEO, ICX etc)
I do not plan to create the next big cryptocurrency or bitcoin killer whatever. Just solely to be used in my website. There's no need to be listed in CMC or any exchanges. I'm not planning to do ICO or crowd sale either.
My dilemma for now:
a) new coin
pros
b) new token
pros
kindly cast your vote everyone! thanks so much!
I am currently developing a website in which a user can trade items with other users. This website will have a currency; let's call it [myCurrency].
In order to sell an item in this site, a user has to pay fee in terms of [myCurrency]. At first, my plan is just to create a Virtual Currency (VC) like those in mobile game. But as opposed to VC, [myCurrency] will be able to be traded also; in which crypto currency is more suitable.
Plus to show support for cryptocurrency and decentralized world, I decided to create my own cryptocurrency.
Enough intro, after some research now i'm at point where i need to choose whether to create a:
a) new coin (such as btc, ltc etc)
or
b) new token from existing platform (such as ETH, NEO, ICX etc)
I do not plan to create the next big cryptocurrency or bitcoin killer whatever. Just solely to be used in my website. There's no need to be listed in CMC or any exchanges. I'm not planning to do ICO or crowd sale either.
My dilemma for now:
a) new coin
pros
- more control
- can implement exactly the functions that I need
- more prestigous
- fun to develop
- more work
- need to host nodes
- need to learn a whole new thing
b) new token
pros
- easier
- lesser work
- able to use platform's mainnet
- ethereum network is congested, hence it is slow
- other platforms is lacking of documentation or reference or even tutorial in the internet
- above point leads me to use ERC20, but the network traffic is a worry for me
kindly cast your vote everyone! thanks so much!
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