Topic: What Does it take to create a Cryptocoin - page 2. (Read 287 times)
There are no short ways if you wanna get benefitted, cause you have to be cautious and analyse the whole thing again and again to create your own coin. Also, it's a matter of huge budget, so you can surely get benefit, but the loss would be high too.
...knowledge...
Yes, knowledge is one of the most needed when creating a cryptocurrency especially if this coin has it's own blockchain. Takes a lot of time and effort--proofreading and so on....invested...
Financial capacity of every developer or the team itself has a big factor. That is the main reason of an ICO/crowdfunding/etc.... If there are short ways of achieving this with no risk i will like to know.
No, there's not.
Currently there are too many altcoin and tokens, creating an altcoin is not difficult, the operation and management of changes and updates is the main requirement! You do not know and do not have enough money, you can not do it well!
Creating a new coin requires a lot of time and work. The project you want the coins for better be good and legit. Then you have to collect a big fund and work with the developers for launching
Creating a cryptocoin or starting any sort of business venture requires a well thought out plan and a good business model. If you do anything rushed it won't have any chance of success and because of this you need to think it through what it is you are aiming for and make a solid foundation if you want to succeed in any venture.
Creating a cryptocoin or starting any sort of business venture requires a well thought out plan and a good business model. If you do anything rushed it won't have any chance of success and because of this you need to think it through what it is you are aiming for and make a solid foundation if you want to succeed in any venture.
besides having to have more knowledge we also have to have a reliable team and sufficient capital and our supporting partners so that the coins we launch can be strong in the market.
Please i will like to know what it takes to create a cryptocoin, the knowledge that is needed, the capital that should be invested and how to get it promoted for it to be successfully accepted. If there are short ways of achieving this with no risk i will like to know. Thanks.
If you want to create a new coin from scratch you are looking at a lot of money and a lot of time invested. Forking off an existing technology will reduce that cost and time involved. The cheapest is creating a token on an already existing blockchain. A more important question you should be asking is what is the use that you wish to put this token of coin to work on? What problem will it solve and how? From there you can start looking if the technology already exists to do what you want to do or do you need to start from scratch. 
There are now actually some platforms where you can easily create your own coin or token but making it sold, accepted and be successful is another big side of the story. In fact, the very reason why we have so many shitcoins is because the technology is quite accessible to anyone that is why we have big traffic of new projects which don't have any value at all. In case, you don't have the necessary capital and the right people behind it then it can just be a big waste of time to try creating your own coin. Of course, it does not mean that you are barred from trying but you should know the stakes involved before doing the whole thing...if you are not that prepared then you can just be contributing thrash.
Creating a new coin with its own blockchain and mainnet is a serious job and you will require big funds and developer team and still you will not have any guarantee for success if your coin lacks innovation or use cases, the better way at the moment is to create eth or neo based tokens for your project but that too only if you have a serious and successful business model in mind.
Please i will like to know what it takes to create a cryptocoin, the knowledge that is needed, the capital that should be invested and how to get it promoted for it to be successfully accepted. If there are short ways of achieving this with no risk i will like to know. Thanks.
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