Cryptocurrency Development

The cost to launch your own crypto coin depends on what blockchain you choose for your tokens and the conditions you set on the smart contracts. It also relies on factors such as the number of coins and mechanisms for distribution and burning. Schedule a meeting with our professionals to get a quote.

Cryptocurrency development is very important because decentralized currencies are booming, and are set to be the future currency of the business world. Cryptocurrencies arrive with many benefits such as easy globalized access, decentralization, efficient transactions, etc. Use our cryptocurrency development services today and launch your token to optimize payments globally.

Cryptocurrency software is based on blockchain technology, and it is useful in several ways. It helps with making instant, efficient transactions and quick access for all around the world, with added factors like immutability, user anonymity, and transparency that helps with a highly-secure, successful trading business process.

Once you have decided whether to develop a crypto coin or a token, it is highly important to know how they operate.

Coins are developed by forking an existing blockchain network or creating a new blockchain. It can be used for conducting digital transactions anywhere.

You can understand how a coin works by knowing its well-defined purpose, which can be for facilitating fast digital payments or used as a medium of exchange or as a store of value. A coin’s value will soar depending on the demand from investors and how effectively it is being promoted in the market.

Tokens are of different types like security, utility, and equity tokens. It can be issued on popular platforms like Ethereum, EOS, Stellar, and Hyperledger. An existing blockchain network need not be forked for creating a token. Tokens need to have an underlying asset behind it.

The most popular token is the ERC-20 token that uses the Ethereum blockchain network. Tokens cost less and are faster to develop than a coin.

You can understand how a token works by understanding the functions of a smart contract and creating a token transfer event. If your token has a wide number of use cases, its value will increase over time.

There are mainly three different types of crypto tokens, namely currency, utility, and investment tokens.

Each type of token has its own set of regulations. The issuance and exchange of crypto tokens have to comply with the guidelines laid down by regulatory bodies.

The three kinds of crypto tokens are

• Currency tokens - It will be used as a mode of payment for buying and selling different types of goods and services. Examples are Bitcoin and Ethereum which are considered to be decentralized digital currencies.
• Utility tokens - They are used apart from being utilized as a means of payment. It can be used for accessing a particular product or for performing certain functions in a platform. Many crypto trading platforms have created their own native token, and users can get a discount in trading fees if they use that token. The tokens created on popular blockchain platforms like EOS and Etherum are usually utility tokens as they can be easily used in various DApps.
• Investment tokens - They are also known as asset tokens. Their value will rise, leading to a positive ROI if there is an increase in their market price. The DAO (Decentralized Autonomous Organization) which started a venture capital fund for cryptos is a famous investment token as classified by the Securities and Exchange Commission of the USA.

Hence, choose any of the above-mentioned cryptocurrency tokens according to your investment goals and financial resources.

Though Cryptocurrencies are highly volatile, it is a lucrative investment opportunity in this digital world.

Some aspects that influence your Cryptocurrency’s value are

• The utility of the coin determines its various use cases. This will directly contribute to the demand for your crypto. It should be used as a medium of exchange, as a store of value, as a unit of account, for payments, and for exercising voting rights.
• Since there is a limited supply of cryptocurrencies, its demand will always be high. This will contribute to a rise in value.
• If there is a lot of progress made regarding the development of the project, positive sentiment will prevail as your cryptocurrency will be considered highly viable.
• The total market capitalization reflects the coin’s value in the market. It can be determined by multiplying the total supply with the individual price of the coin.

Bitcoin, which is considered the leader of Cryptocurrency reached an all-time high of $20,000 recently. More institutional investors and tech giants are showing a lot of interest in investing in blockchain technology and digital ledgers. Hence, Cryptocurrency development is considered the future of money. It will play an increasing role in the global financial system in the future.

Cryptocurrency is creating a new paradigm in the global financial system. It is a profitable business model and offers a lot of exciting opportunities for its developers.

Some must-know aspects before creating your own Cryptocurrency Coin

• Cryptocurrency coin is a decentralized digital currency that can be used as a means of exchange and as a storage of account.
• It relies on end-to-end encryption to confirm the transactions made by the traders.
• A new blockchain network or a fork of an existing blockchain network is required for creating a Cryptocurrency coin.
• Coins can be utilized anywhere and have several use cases.
• Cryptocurrency coins offer advantages such as irreversibility of transactions, lightning-fast settlement of funds, low transaction costs, 24x7 trading, and no chance of any authority freezing your assets anytime.

The factors to consider while developing your Cryptocurrency Coin

• Define your use cases especially the business objectives clearly beforehand.
• Choose any consensus mechanism which reflects how the participating nodes will add a transaction to the block.
• Choose the right blockchain platform. The popular ones are Ethereum, Waves, NEM, EOS, MultiChain, and Hyperledger Fabric.
• Design the nodes for performing the various tasks smoothly. It can be either public, private, or hybrid and can be hosted on the cloud if needed.
• Establish the blockchain’s internal architecture like the key formats, asset issuance, atomic swaps, and block signatures.
• Get an operational license for your cryptocurrency by approaching a certified regulatory body.

Initiating Cryptocurrency development will improve the transparency and efficiency of your business. Developers who have significant knowledge will take care to create a cryptocurrency in the shortest time with minimum costs.