Topic: research for new altcoin - page 2. (Read 295 times)

Creating another new altcoin these days is extremely difficult, with all the current huge competitors and Ethereum next updates are huge like current competitors may get rekt.
Good to know that you are interested in creating another crypto, but my advice is another feature is/are problems that other altcoin can't be solved could be your key or winning recipe.

I think your idea is quite good and indeed creating an altcoin is not a difficult thing right now, but the problem now is that we need large enough funds to list these altcoins on the market and after the altcoins are listed of course we must continue to develop these altcoins until we can known by many people and one of them forms a clear fundamental to the altcoin so that the altcoin will have a strong community.
many of my friends have created several altcoins or tokens like your idea, but in the end the altcoins just become trash without any further development from those who created them.

How are you going to make it eco friendly? I guess you will be using Proof of stake instead of proof of work? POS is a flawed design and has already been exposed lots of times.

You will need to hire a blockchain engineer to do all of that, it won't be cheap. Your best bet would be to fork NEAR or Stellar and add quantum resistance or consider forking cellframe and using a L2 to speed up transactions.

If your goal is to create another platform for fast transactions, scalable networks etc, I guess you're out of luck. Too many competitors in this area and you need to be really unique to survive. That being said, why do you have to create a new one? The idea of profit-sharing is not new either, and that doesn't sound like a great feature that can attract users to use your platform. Profit-sharing should not be your unique feature, since if you don' have a product no one will bother with your token.

I suggest you start by finding a problem in the crypto space that is unattended or has little competition first. Start from there and then plan your product. Don't just create a token for the sake of it, else it's just another shitcoin.

I like your ideas and it will be a big pleasure for me if thanks to my comment, one more good token will become better. Concerning your question about the whales. Nowadays projects support a function of protection against big investors. It means that the system bans transactions that are bigger than 2%, for example. But actually what can deter them from buying it in different transactions or from different wallets? I don’t know.

You can make the airdrop as another altcoin did. there are too many altcoins out there that were done but you have to not be so optimistic, you will get fail and you will be lost the money. KYC is one to prove for identity person but is not good the solution. If you have enough time, you have to read all about altcoin sessions on this forum, you will get your solution and you will prepare to step back.

I find your idea pretty nice and everything is quite reasonable, but what do you think about the Blockchain trilemma? You said that it would be decentralized and scalable (because of Proof of Stake), so I can conclude that it will be insecure. As when blockchain works on Proof of Stake, a hacker can grab just one percent of the system and everything will be under the threat, compared to projects that work on Proof of Work, where a hacker had to grab 51% of the system.

You just need to package your ideas more neatly in a paper, become the basic framework of the project, then look for people who can support your project ideas to be more interesting.
In addition to the current DEFI project, projects that are currently in demand are projects about games that have a play to earn feature.

Good idea with the Facebook accounts. Maybe also use all the other big social networks, like Youtube and Twitter, so everybody could get some coins. Of course, would need to verify the account creation date.

You are right, there exist coins for all the features I listed. But I don't think there is no coin which combines them all. Isn't this sufficient for a successful coin? Any ideas for a unique new feature?

You are just planing a project that has already exist for a long time, if you have to create a token it's necessary to make it unique that an investor can distinguish your project that has a real purpose. You just named them in this post.

Anyway, if you will really create the project, there is no way you can distribute them to people as many as possible but to airdrop it to the holders of a widely distributed project like Cardano. Or distribute it to all facebook accounts that will verify when claiming. I think Stellar did this before. There may be a lot of cheaters in this process.

I plan to create a new altcoin. What features do you like for it? Some ideas I have:

- eco-friendly, so proof-of-stake for the consensus algorithm, like WAVES and Cardano already uses, and Ethereum plans to use
- quantum safe, like QRL
- high number of transactions per second, like one million per second as Cardano can do
- smart contracts, for creating your own tokens, assets, apps etc.
- low transaction fee

I also want to distribute it to as many people as possible, ideally to every person on Earth. How could I do this? Is there some altcoin who did this? How did they manage to prove the identity of a person, so that not one person creates a bot for it and gets lots of shares? This should be the coin for the 99%, and not just for the 1% rich investors

Another feature should be a voting mechanism. For example when a conventional signing algorithm is used instead of a quantum safe algorithm (for example because otherwise the high transaction rate wouldn't be possible), and the algorithm needs to be changed when quantum computers become available. Then there could be some proposals, and people can vote for one proposal, weighted by their coins. This will allow transparent democratic decisions for the development process, implementing what the majority wants.

The voting mechanism could be also used for example if there was a security problem or bug, and to decide if it needs a hard-fork to rollback the blockchain, like with the Ethereum DAO disaster. But instead of just a few people deciding it, it would be decentralized as well. Such bugs happen and if the majority thinks it is a good idea to undo it, then this would be the right thing to do. The voting mechanism could be just a smart contract.

Other features like NFTs etc., can be implemented with smart contracts as well.