Development and release of cryptocurrency and crypto tokens

Cryptocurrency is a special type of money that is not produced materially, but only exists in the digital world. At the same time, each coin has real value, and can be redeemed using traditional currencies, including the euro and the dollar.

For business, the development of your own cryptocurrency or token is a step into a new era, which provides significant advantages:

• attracting investors;
• increasing the status of the company;
• settlements all over the world without restrictions;
• minimum transaction fees;
• the expansion of the customer base;
• complete security of transactions, without the involvement of third parties.

Despite all the advantages, the technology is not yet widely used. Therefore, it will become a powerful impetus for the development of your business.

In this article, we’ll take a look at how companies develop their own digital currency for a return on investment.

Preparatory stage

Before starting the technical development of the future cryptocurrency, you need to:

• Purchase the necessary equipment, including a server and a PC of sufficient power, which will be required to support your blockchain and administer the service to which the cryptocurrency will be linked.
• Form a project concept – think over why you are creating a cryptocurrency, for what purpose it will be used in your company and what tasks to solve.
• To make a coin useful – for a cryptocurrency to become in demand, it must not only exist, but give real advantages to its owners. For example, it can be tied to your product, or it can be used to solve a business problem: simplifying mutual settlements, minimizing commissions, increasing security, etc.
• Creating a business plan – yes, developing your own cryptocurrency is like starting a business from scratch. Therefore, before investing in its development, you need to conduct research, calculate the risks and think over a marketing strategy.

Some of these tasks can be assigned to the developers of AVADA-MEDIA, who already have experience in launching digital currencies and can give good advice.

There are two ways to create digital currencies: fork and development from scratch. Let’s take a closer look at how they differ and which one should be given an advantage.

Development of a cryptocurrency fork

A fork is the creation of a new digital currency based on the code of an existing coin, such as Ethereum or Bitcoin. That is, this is the adaptation of the ready-made code to the needs of your business.

The algorithm for creating a fork is roughly the following:

• Obtaining the source code of the required coin;
• Creating a name for a new currency;
• Configuring network parameters and loading ports;
• Final development;
• Integration with payment systems and crypto wallets.

When launching a fork, the main difficulty lies not in the technical development of the cryptocurrency itself, but in creating a client and infrastructure for it. Many forks created by amateur programmers operate on the blockchain of the parent coin, which is not enough for a promising digital currency. That is why it is worth giving preference to professionals.

AVADA-MEDIA has been occupying a leading position in the crypto development market for 9 years. To create our projects, we use advanced technologies that are able to ensure the operability and safety of all future infrastructure.

Creating a cryptocurrency from scratch

When creating a digital currency “from scratch”, programmers develop a unique code that has no analogues and is not subject to the restrictions of the parent network. This means that you can bring to life almost any of your ideas.

Such development requires more time: from six months to several years, and, accordingly, it is more expensive, taking into account the hourly pay of IT specialists.

Most often, unique coins are issued by large companies or startups to attract investment.

Listing is the inclusion of a cryptocurrency in the list of coins traded on the exchange. It increases the liquidity of an asset and fuels interest from investors.

According to statistics, after listing, the value of the token increases by an average of 25-30%, which is achieved due to its popularization.

Consequently, the inclusion of a coin in the listing is one of the most important stages in the development of the entire project. Obviously, if a crypto asset is not supported by popular platforms and exchanges, buying it becomes problematic, and sometimes even daunting task. Therefore, such a coin is unlikely to be in high demand.

There are exchanges that do not charge a fee for listing coins. But, more often than not, it is most difficult for new projects to achieve the inclusion of their coins on the shelves of such sites. This is due to the fact that they make a decision solely at their own discretion, evaluating the merits of the project. Therefore, if you have not yet managed to achieve popularity in the digital world, you will be refused listing.

As for the paid listing, everything is ambiguous here. Large exchanges prefer not to advertise their prices and sign an NDA – a nondisclosure agreement with each project.

TECHNICAL REQUIREMENTS

In addition to the listing fee, your project will be checked for compliance with the site’s requirements.

Most often, these requirements include the following points:

• Completeness of the information provided.
• Legal clarity of documentation.
• Lack of political risks.
• Availability of a qualified development team.
• The relevance of the project on the market.
• The veracity of information about the project in open sources, such as Bitcointalk.

AVADA-MEDIA specialists have extensive experience in the development of digital currencies and tokens. We have been working in the IT industry for over 9 years, and have implemented many projects for the domestic and Western markets.

After the technical development of the token, we accompany the project from the technical side at the stage of listing on popular exchanges.