How to make a cryptocurrency?

Initially, generating a cryptocurrency was quite difficult to do. However, currently, there are different platforms and projects that allow us to produce cryptocurrencies quite easily, we can even count on companies in charge of marketing crypto projects that can help us with this.

We comment on the steps to know how to produce a cryptocurrency:

1. Consensus algorithm

In Blockchain this algorithm is the mechanism used to choose the convenient state of a record after making a transaction. In this way, this becomes the truth that all nodes must follow.

2. Blockchain network

An important choice is the blockchain network that we will use for your trading. Some of the most prominent platforms are:

• Ethereum
•  Quórum
•  Corda
• IOTA
• Cardano

3. Nodes

Here we have to decide how the blockchain is going to work and design, will the permissions be private or public? Will the hosting be in the cloud, on premises, or both? What will be the hardware details needed to run?

4. Blockchain backend

Here we will have to have ready the way of how things are designed, such as the address format that your blockchain will follow to exchange between different cryptocurrencies without an external intermediary.

5. APIs

Some platforms don’t provide predefined APIs, so make sure you have your own.

6. Interface

You must ensure that the web, FTP servers and external databases are the most current and that the front-end and back-end programming is done with future updates in mind.

7. Legal project

Before launching the project, we must be sure that our cryptocurrency is prepared and complies with the laws that will quickly become the regulations of the entire cryptocurrency world.

Conclusion

We hope that these steps will help you to understand in a very simplified way the way in which you can create a cryptocurrency, if you need more help, do not hesitate to contact us to help you make your cryptocurrency project a reality.