Have you ever dreamed of creating your own cryptocurrency?
I do, and so a few days ago I decided to create one. If you have some programming skills, it's a breeze, but I assure you that creating a cryptocurrency is really simple even if you've never seen a line of code in your life.
So in this article, I will explain how I created my cryptocurrency from scratch, and how you can too!
As you have certainly understood by now, creating a cryptocurrency or any application on the blockchain is not that difficult, thanks to Ethereum! And the good news is you can do it without having to write a single line of code because I'll walk you through it step by step. Soon, I also intend to launch a video tutorial where I will explain it even more in detail.
Because I created my own cryptocurrency
For fun. With some friends, I had created a mini-fund where I invested in cryptocurrencies, and each had made available a different amount to invest. The capital made available would be restricted for a year, and at the end of the year, we would share the proceeds, in proportion to what each of us had invested.
At this point some problems arose: the first "problem" concerned how to sanction the final "slice" that would be due to us. The simplest and most effective solution would have been to save everyone's initial investment in Excel and share the proceeds proportionally at the end of the year. Anyone who knows me knows that I do not like "simple roads", so I had to invent something different.
Another aspect was what many other friends, knowing the profit that could be made from cryptocurrencies, wanted to add, but this would have been difficult and would have required several calculations, as the fund differentiated the cryptocurrencies in which we invested.
So I thought: "Why not distribute shares based on the initial investment?". And so it was: we decided to save these shares on the blockchain, and to distribute to each token equal to the shares they were entitled to!
This mechanism solved the problem of the one-year bond and allowed other people to "enter" the "fund". In fact, those who already had shares in the "fund" could sell them to other people interested in investing in cryptocurrencies.
So I started programming a smart contract and after a few hours, our cryptocurrency was born, or rather our DAO (Decentralized Autonomous Organization).
At this point, you may be wondering: but is creating a cryptocurrency so simple? As I told you, yes, thanks to Ethereum and thanks to smart contracts!
Let's find out how to do it:
1. Download the Ethereum Wallet
The first step to creating your cryptocurrency is to download the wallet from the official Ethereum website.
Once downloaded, launch the installer and wait for the installation to complete.
2. Open the Wallet
Once installed, open the wallet. You should see a screen like this.
Don't worry if you see a blue bar in the top center: having downloaded the wallet, you have become an ethereum node, so you will have a copy of the entire ethereum blockchain!
3. Add your contract
At this point, to add the smart contract and start creating your cryptocurrency, click on "Contracts" at the top right, and then on "Deploy new contract" on the next screen.
You are close, you just need the last step and you will have created your smart contract, then your cryptocurrency or your DAO!
All you have to do is copy the code below and paste it into the “Solidity contract source code” area.
If you knew how to program, you have to know that the smart contract of Ethereum is programmed Solidity, a programming language developed by Ethereum,
The only change that you request is to change the name of your new cryptocurrency, replacing NomeCripto both times with your new coin name. Keep in mind that the name must be written attached, so if you want to use multi-word names, you will have to write them in camel case.
At this point, you just have to send it to your friends and acquaintances and start exchanging them!
As you can see it was quick and painless, and now you have your cryptocurrency at your disposal. And if you are a programmer, you might be interested in finding out more on the official ethereum website!
Let me know what you think
And what do you think? I would like, as always, to have your opinion on the articles I write. Ah, and if you ever create your own cryptocurrency, let me know below in the comments.
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