🤔 How to create a cryptocurrency

Own cryptocurrency is quite an accessible and easy way to attract investments to the project and get profit from users. By calling it simple and accessible we mean that it is available for those who understand programming, have a computer with an Internet connection and have the idea of using this cryptocurrency. It is easier than releasing your own fiat money or launching your small business’ shares on the stock market.

Let’s look at the basic important steps.

➡️ Utility and Tokenomics.

The cryptocurrency code will depend on what functions, utility, and distribution methods it will have.

You need to determine how it will be used in the project and what its utility to users is.

Tokenomics describes how many coins you plan to issue, how they will be distributed and what is the initial value.

🪙 Token or Coin

A coin is issued on its own blockchain while a token is issued on an existing blockchain, has a higher level of trust and is much easier to create.

The advantage of a coin is that it has utility within the network such as being used to pay commissions, staking, and governing whereas the utility of a token is only realized within its project.

⛓ Choosing a blockchain

If you decide to create a token, you need to decide which network it will exist in. Nowadays popular solutions are Ethereum, BSC, Solana, and Polkadot.

🌐 Code Creation

There are two ways to solve this problem you can create a unique code being a very good programmer as well as you can use open-source code of existing coins as a fork. Moreover, many of the coins you know are forks of already existing ones such as Dogecoin — Litecoin, Litecoin — Bitcoin.

On GitHub you can find the open source code of the coin you are interested in.

An easier way is to use a paid service to create coins.

When copying someone else’s code don’t forget to make changes regarding the features of your token and project: name and network ports.

Determine the basic parameters of the cryptocurrency: as the number of tokens per block, generation time in seconds, the frequency of mining complications, and the number of tokens and blocks issued per day.

🔬 Audit

After creating your own cryptocurrency you have to audit it by a specialized company. Auditors analyze the code for vulnerabilities, identify weaknesses, and provide recommendations for improvements. Having a certificate from the auditors increases the level of your token from the users’ view.

🕵🏻‍♀️ Regulatory Compliance Checks

Determine what documents and approvals you need to use your token or coin in your jurisdiction. To do this seek legal support which is provided by special organizations in the crypto field.

Cryptocurrency is not only about good and secure code but also about a great idea of how it will benefit the community of the project and beyond. Don’t forget to pay careful attention to both areas.

💎 MMPro token follows these two areas. It’s audited by a well-known auditor Certik and provides users with wide utilities such as participating in launchpad sales, farming, solo staking, benefits for investors, access to an exclusive club MMPro Labs with the best conditions.