From most to least difficult, you can:. The majority of these options require at least some technical computer knowledge, in addition to financial and human resources. The most technical alternatives afford the highest degree of customization, which for some cryptocurrency developers is worth the expense. Keep reading to dig into each possible way to make a cryptocurrency. You can write your own code to create a new blockchain that supports a native cryptocurrency. Pursuing this option usually requires extensive technical training to develop coding skills and a fundamental understanding of blockchain technology—but it also affords the greatest amount of design freedom.
If you want to create a cryptocurrency that is truly new or innovative in some way, then building your own blockchain to support that coin is probably your best option. You can design your native coin in any way that you like. Native coins, which by definition have their own blockchains, are considered as superior to tokens , which are digital currencies that operate on other blockchain networks.
And then, finally, you are ready to mint your new cryptocurrency. How many coins you decide to issue initially is up to you. You can decide to mint the complete supply of coins in a single batch, or gradually increase the coin supply over time as new blocks are added to the blockchain.
You can decide to use the source code of another blockchain to create a new blockchain and native cryptocurrency. Pursuing this option still likely requires technical knowledge, as you may choose to modify the source code to satisfy your design objectives. The code for most blockchains is open source, meaning that anyone can view and download it.
You can find the source codes of most blockchains on the GitHub platform. After you download and modify the source code of an existing blockchain, you still need to work with a blockchain auditor and obtain professional legal advice. After that, you are ready to mint your new cryptocurrency. You can make a new cryptocurrency without first creating or modifying any blockchain.
Platforms like the Ethereum blockchain are designed to host the cryptocurrencies of many different developers. The resulting new currency would be classified as a token, which is any digital money that is not native to the blockchain on which it operates. Creating a token that uses an existing blockchain can require some technical expertise, but anyone with moderate computer knowledge can probably create their own token without too much difficulty.
Tokens are generally less customized than coins, but making a token is usually the fastest and cheapest way to make a cryptocurrency. Your token can benefit from the security provisions of an established blockchain platform, and the blockchain platform may offer other innovative features for token creators. You can create a new coin or token with any degree of customization by hiring a blockchain development company.
Many enterprises, known as blockchain-as-a-service BaaS companies, exist to create and maintain new blockchain networks and cryptocurrencies. Some BaaS companies develop customized blockchains, while others use their own existing blockchain infrastructure. You can also work with a BaaS company to launch a highly customized token on an existing blockchain platform.
Anyone can create a cryptocurrency, even just for fun. But launching a cryptocurrency that is successful and gains value generally requires commitments of time, money, and other resources, in addition to advanced technical knowledge. Making a cryptocurrency is the easy part. Maintaining and growing it over time is usually much more challenging. Just make sure to avoid any activities that might be considered as an initial coin offering ICO by the U.
You can make your own cryptocurrency. Usually creating a new coin or token requires some computer coding expertise, but you also can choose to hire a blockchain developer to create a digital currency for you. Launching a token on an existing blockchain platform like Ethereum can be accomplished with relatively little technical expertise.
The cost of creating a cryptocurrency varies widely based on how much you choose to customize the coin or token. Highly customized coins established on native blockchains are the most expensive to create, while launching a standardized token on the Ethereum platform can be free through apps like WalletBuilders.
Creating a cryptocurrency is generally legal, although some countries and jurisdictions have partially or fully banned cryptocurrency. In China, for example, raising money through virtual currencies has been illegal since , and all cryptocurrency transactions have since been banned.
Interplanetary File System IPFS is a decentralized protocol and peer-to-peer network for storing and sharing data in a distributed file system. Upload an image to pinata — this will be the image asset for your NFT. Feel free to name the asset whatever you wish. After you upload, you'll see the file info in the table on the Files page. You'll also see a CID column. You can copy the CID by clicking the copy button next to it. You can find the image we used on IPFS here , for example.
For the more visual learners, the steps above are summarized here:. But before we do that, we need to create it! In your root directory, make a new file called nft-metadata. Feel free to change the data in the json. You can remove or add to the attributes section.
Most importantly, make sure image field points to the location of your IPFS image — otherwise, your NFT will include a photo of a very cute! Now, to interact with our contract, we need to create an instance of it in our code. Next we will use the web3 contract method to create our contract using the ABI and address.
In your mint-nft. Add your public key to your. The nonce specification is used to keep track of the number of transactions sent from your address — which we need for security purposes and to prevent replay attacks. To get the number of transactions sent from your address, we use getTransactionCount.
Your mint-nft. You'll notice in the transaction signing section, we've added some error checking so we know if our transaction successfully went through. Remember the metadata. How to get your nft metadata hashcode on Pinata. Double check that the hashcode you copied links to your metadata. The page should look similar to the screenshot below:. Your page should display the json metadata.
Altogether, your code should look something like this:. After a couple of seconds, you should see a response like this in your terminal:.
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Build your blockchain: A tutorial where a blockchain and a cryptocurrency are created from scratch using Typescript. Wondering how to create a cryptocurrency? Learn what steps need to be taken and things to consider when making your own cryptocurrency. You can start a new cryptocurrency by creating an entirely new blockchain with a coin or by forking an existing one and creating a token. Coin.