There are several technical methods for making virtual money with your own hands. This could be an adaptation of the bitcoin code or any other available currency.
Cryptocurrency: stages of development and construction:
- decide whether your tokens or a coin will be based on the existing code;
- make a list of basic functions, and possible improvements to attract investors;
- find and eliminate weaknesses in the system;
- predict development and develop a project strategy;
- launch an advertising campaign.
A beginner cryptocurrency creator should not release a crude project to the masses. There should be no problems with transactions, otherwise, it will not be possible to attract worthy investors. The choice of encryption will be mandatory. One of the most reliable is the sha 256 algorithm. The protocol processes information split into 64 bytes (512 bits), “mixes” and produces a 32 byte (256 bit) hash code.
Looking for source code
To choose the basis for the future virtual coin, you can go to one of the portals that offer the sources of the untwisted monetary systems. After downloading the code, a library is installed, consisting of specialized programs for creating cryptocurrency templates. The list of software varies depending on the operating system and the capabilities of the computer.
A cryptocurrency developer must have some programming knowledge, have experience in working with hypertext, since the source code implies reading and editing scripts of algorithms.
Editing the source code
In the process of creating a new digital coin system based on the existing one, it is necessary to edit the source code. You will need to rewrite the name, two- or four-letter abbreviation, and change the icon. Besides, you will need to choose an encryption algorithm, prescribe the maximum number of coins and set the type of reward when looking for a block.
The source code has about 10,000 repetitions, so manual editing is difficult. For these purposes, special applications have been developed.
Digital Currency Development Utilities:
| ОS | Windows | Linux | MacOS |
| Software | SearchandReplace (for Vista, XP) – an application that searches for texts, and replaces inside files, including HTML and ZIP.HandyFileFindandReplace (suitable for all OS versions up to 7 inclusive) also allows you to edit any text data. | Regexxer allows you to search for text and make replacements in several files at once. | TextWrangler is a reliable text and code editing software. The utility is equipped with tools for writing, editing, and changing text. |
Before making edits to the source, you need to decide what will be replaced. If the future crypt is a different fork, then the first thing that changes is the name. We’ll have to work hard and replace all the variations written in Latin.
For example, the new currency Landcoin is based on Skycoin.
| Skycoin | Landcoin |
| SKYCOIN | LANDCOIN |
| sky | land |
The abbreviation also needs to be changed:
LDC => SYC
Configuring network ports
Creating and launching your digital currency involves setting up network ports. This requires certain programming skills. If there is no practice in programming, then it is better to contact a specialist so that the process does not drag on and there are no problems with transactions later.
To configure network channels, select four free connection ports, two of which will be text and the rest of P2P and RPC formats. Then they are written in the code.
Start generating currency
The next step will be the generation of digital money. In the process, blocks are formed, each of which contains a certain number of coins. The number of “coins” can be set in the 831st line of the code.
Next, the time interval in seconds is set for generating the next block. After that, a time is set to correct the arising difficulties, the limit on the number of coins and blocks per day.
An important component of any digital currency is the key. Each user of a cryptocurrency service must have his own personal and public key. The data about the public is written in the code.
Change the logo and icon
After doing all the above operations, as a result, a GUI application with a console version for the server and client will be released. To avoid confusing the new currency with the existing one, the logo and all existing icons should be replaced. You will also have to make changes to the source code here.
Before you start working, you need to download copies of the images from the server to your PC. New icons can be taken from the Internet. There are many image replacement utilities on the net, for example, Exe Icon Changer.
Please note: it is impossible to change the image format.
An alternative way to create cryptocurrency
The above way of constructing your electronic coin is relatively simple but requires some knowledge and experience in the field of programming. There is another way to create a cryptocurrency, for example, on the Open-Transaction online resource. The service allows, in addition to generating money, to create documents, and manage accounts. The resource is equipped with reliable protection against hacking. Services Monetas and Mastercoin are similar in functionality.
The founders of large-scale projects use the services of such sites to develop their internal currency. This is necessary for the decentralization of funds so that the internal currency of the corporation does not depend on external conditions.
Promote your cryptocurrency
Creating your cryptocurrency is just the beginning. The next step is to announce a new digital coin. To do this, you will have to spend money on advertising on social networks, and thematic forums. It is advisable to come up with your referral program, and create excitement – by launching an airdrop or bounty campaign.
The last step in promotion is entering the exchanges, where demand will form, and the value of the crypt will grow. First, you can try your luck on the free exchanges Poloniex or EtherDelta, given that you first have to go through the verification process.
