Thousands of people are looking for ways to create their own cryptocurrency and repeat the success of Satoshi Nakamoto, the creator of Bitcoin. If you dream of the same thing, this article is for you.
Back in 2009, the creators of the first digital currency, Bitcoin, made sure that after reaching the emission threshold of 21 million coins, cryptocurrencies would not disappear forever. In particular, they made the Bitcoin software code open, which allowed other developers to create their own analogues of the currency - altcoins.
Today there are about 2,000 altcoins created primarily on the basis of Bitcoin, and their creators clearly have a lot of imagination.
In particular, there is already a cryptocurrency called Sexcoin for paying for adult goods, PotCoin for selling marijuana products, and even TrumpCoin and PutinCoin. In 2014, there was a currency named after Kanye West, but the artist through the court secured a ban on the use of his name by developers.
Do alternative cryptocurrencies have a chance of success?
In August of this year, the total cryptocurrency market was worth $160 billion.
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However, many are still convinced that only bitcoins are worthy of attention in this market and that you won’t earn much on other coins.
Anyone thinking about creating their own cryptocurrency should pay close attention to the top three alternative digital currencies, which come right after Bitcoin in the rankings.
Despite their less popularity, they already bring billions of dollars to their owners, and every year their popularity (and with them capitalization) is only growing.
$40,000 airdrop from The Age of Gangs
The Age of Gangs is a strategy NFT and P2E game that pits players against each other for control of London. They can team up with others to form gangs and take over territories. Each hero is an NFT of varying rarity and has certain characteristics.
The NFT game is giving away 100 NFTs worth 35,000 USD and 5,000 BUSD.
- 20 NFTs (0.09 ETH each) for the top 20 participants
- 80 NFTs (0.09 ETH each) for 80 random participants
- 5000 BUSD will divide the top 1000 participants
- Participate in the airdrop - here
Valid until January 14, 2022
Altcoin #1: Ethereum (ETH)
Price:
$323.
Market capitalization:
$30.96 billion.
Peculiarity:
Despite its late appearance (in 2015), Ethereum has already staked out about a quarter of the entire cryptocurrency market. Now it ranks second in popularity after Bitcoin and surpasses it in the speed of confirmation of transactions on the network.
The main advantage of the Ethereum cryptocurrency is smart contract technology, which allows minimizing human participation in operations.
Suppose two people argued about the outcome of a football match. In this case, the technology removes the bet amount from the accounts and holds it until the condition is met - the end of the match, which will determine who will ultimately receive the winnings.
It is expected that smart technology will soon also spread to law, logistics and accounting.
Christmas giveaway from Nexity Network x KSM Starter
Nexity Network and KSM Starter are hosting a Christmas giveaway that will give away 30% of NFT trading cards, as well as $NXT and $KST tokens.
Rewards: $25,000 NXT and $10,000 KST 150 The Snickers NFT, 30 The Watch NFT, 15 The Ring NFT, 3 The Car NFT
- Participate in the airdrop - here
- We complete tasks on social networks
- Specify the ERC-20 wallet address
- You can only take part from wallets with transactions; empty ones will be disqualified.
- There are not many participants + no ref links - so the chances are great
Valid until January 23
Altcoin #2: Ripple (XRP)
Price:
$0.2.
Market capitalization:
$7.96 billion.
Peculiarity:
A unique open-source cryptocurrency was created for venture funds in 2013 in order to increase the speed of banking transactions and reduce costs.
Ripple's main advantage is speed. The transaction is processed within a few seconds, and its actual cost is only $0.00001.
It is noteworthy that mining this cryptocurrency is impossible - there are currently about 38 billion coins in use, and all of them belong to Ripple Labs. In turn, Ripple Labs gives out coins not for mathematical calculations, but for calculations useful for science and medicine.
For example, the World Community Grid allows you to use computer power to support an AIDS program, a clean energy project, or cancer research.
AirDrop Yolotter Token ($YLTR)
The Yolotter project is giving away 150,000,000 YLTR to everyone who completes the tasks!
I don’t quite understand what the project is and who they are, but there are many participants and the distribution of coins will be guaranteed for participation, mfr you can try! It looks like it was like with otters, for now it’s just an airdrop and receiving coins, then maybe there will be a faucet again!
- Please indicate Solana address.
- We carry out tasks
- Participate in the airdrop - here
Valid until December 31st
Altcoin #3: Litecoin (LTC)
Price:
$60.
Market capitalization:
$3.28 billion.
Peculiarity:
Litecoin was created in 2011 by former Google engineer Charles Lee.
Like Ripple, it is open source and processes transactions four times faster than Bitcoin.
Initially, Charles Lee tried to tie the cost of the coin to the cost of silver, which is why Litecoin was later nicknamed “electronic silver” for its stability and reliability.
Airdrop of coins from Docuchain on Solana (round 2)
- Winners - 1000 participants
- For tasks 200 DCCT
- Top 100 will receive increased rewards
- Participate in the airdrop - here (telegram bot)
- Complete all airdrop tasks
- Provide your SOL wallet address
Valid until January 25, 2022.
Creating our own cryptocurrency: market aspect
Almost every day new currencies appear in the world. Many of them are created based on the open source code of Bitcoin. As a result, coins appear with almost identical characteristics, mining schemes and source code (the mining scheme or transaction speed occasionally changes).
As a rule, such cryptocurrencies cannot adapt to market conditions and compete with stronger competitors - and become failures.
In turn, cryptocurrencies with original code like Ethereum with smart contracts and Ripple for banking operations remain afloat.
In fact, Litecoin has become the only successful altcoin of all, whose code is almost completely identical to the Bitcoin code. But Litecoin has two important differences - four times more issued coins and an original mining scheme, based primarily on the use of central processing unit (CPU) power.
Now that we've talked about the need to have a unique advantage, let's list other factors that have a decisive influence on the market success of a cryptocurrency.
- Supply and Demand Relationship.
As in any other market, the cost of a product increases along with an increase in demand for it, and vice versa.
- Cost of electricity.
Cryptocurrency mining uses computer power, so the price largely depends on the amount of electricity used for mining. But the price of the “ecological” cryptocurrency Solarcoin depends on the production of solar energy.
- Mining difficulty level.
Everything is simple here: the more difficult it is to mine a digital coin, the higher its price.
- Application possibilities.
The value of a cryptocurrency depends on the variety of ways it can be used. For example, if your coins can be used to pay for goods and services, its price will automatically increase.
- Domino effect.
Events that occur with one currency automatically affect others. In particular, changes in the value of any cryptocurrency or scandals in the media, provoking outbursts of distrust in cryptocurrencies in general.
- Government policy.
Despite the decentralized nature of cryptocurrencies, news about their regulation in various countries can significantly affect their price.
In addition, there are other external factors - both negative (for example, facts of fraud) and positive (large investments of professional market players in cryptocurrency).
Giveaway from the Luna Rush project (Round 3)
There will be a total of 1000 winners and a top 50 winners who will share a total prize pool of 90,000 LUS. You must complete at least 15 applications to qualify.
- Participate in the airdrop - here
- We complete tasks on social media. networks
- You can log in daily (there are tasks with repetitions)
- We indicate your BSC (BEP20) address
- The list of winners will be announced on January 4
- The reward will be distributed until January 12, 2022
Valid until January 3, 2022.
Creating your own cryptocurrency: technical aspect
From a technical point of view, there are various methods for creating a new cryptocurrency, from adapting the Bitcoin source code to using ERC20(23) or Waves.
A detailed story about all the methods is worthy of a separate article, so now we will consider only the most basic option using source code.
You will most likely not be able to create a revolutionary cryptocurrency with its help, but at least you will be able to get a general idea of what kind of challenges cryptocurrency developers have to face.
So, if you are interested in trying your luck at creating a cryptocurrency, follow the instructions below.
Step 1. Select the source code on the github platform
Go to the resource and select the code of an existing cryptocurrency, which will form the basis of your future network. The source code for the Bitcoin client version 0.9.0 is available on github.
Alternatively, the source code can be downloaded from Sourceforge.net. Next, you need to install libraries for the code to work correctly - a number of special routines for developing specific software. The list of routines varies depending on the type of operating system you have.
Step 2: Edit the code
When creating a cryptocurrency, rewrite the following data in the code.
- The name of your cryptocurrency in Latin.
- Abbreviation of 2–4 letters.
- Icon with a graphic image of a cryptocurrency.
- Encryption algorithm (most often used are SHA-256 (Bitcoin) and scrypt (Litecoin)).
- Maximum number of coins.
- Reward for finding a block.
To simplify the editing process, you can use special software:
- Search and Replace or HandyFile Find and Replace for Windows.
- Regexxer for Linux.
- TextWrangler for MacOS.
Step 3: Configure network ports
To configure network ports, you need to have excellent programming skills. Otherwise, you will have problems with transactions, and this will negatively affect the image of your currency.
Select four free ports: two for P2P and RPC, and two test ports for P2P and RPC (testnet) connections. Check that the ports are free. Having decided on the ports, enter their names into the code of the files obtained in the first step
src/bitcoinrpc.cpp, src/init.cpp and src/protocol.h.
Step 4: Take Safety Precautions
Be sure to generate a custom key that will allow you to conduct transactions securely. Each currency user has a private and public key. You can set the first byte of the public key in the code as a symbol and a number. Write your key in the file src/base58.h
.
Paraverse's $50,000,000 $PAME Token Giveaway on Pinksale
To celebrate the grand launch of IDO Paraverse, Pinksale is running its first ever massive giveaway campaign that will give lucky users the chance to receive a share of $50.00 $PAME
- Total pool: 50,000,000 $PAME
- Number of winners: 5000
- Participate in the airdrop - here
- Subscribe to social media networks
- Enter your BEP-20 address (Binance Smart Chain)
Valid until December 31st
Large Grow Airdrop CanaBoyz
The number of participants is unlimited! We will randomly select 15,000 winners! Each user can get 300 CNB for free!
And also, the 250 best participants will have the opportunity to open a Grow Box. To participate you just need to follow the instructions of our CanaBoyz Bot
- Participate in the airdrop - here
- Let's switch to a bot and carry out tasks with social networks
- Here you will need to select buttons with the desired social networks in the bot and for each social network, indicate the URL to your profiles in them
The number of wallets from one participant is not limited, except for applicants for the Grow Box (only unique users).
The completion of AirDrop will be announced 5 days before the DEX (PancakeSWAP) goes public
Types of airdrops
The most successful marketing campaigns are usually ones where potential customers and investors receive a product for free. Cryptocurrency airdrops have a similar concept. Most often, such schemes are used within the framework of ICOs, when blockchain startups transfer free tokens to potential clients. In the past, many companies have successfully advertised their tokens this way: Aktie Social, Eligma, BunnyToken, etc.
There are two types of airdrops:
- Traditional, when free tokens are distributed among existing owners of certain cryptocurrencies, for example, Bitcoin or Ethereum. Users are rewarded simply for holding or using coins. No response is required from them.
- Bounty airdrops - rewarding users with tokens for completing simple tasks on social networks, for example, subscribing to Telegram, reposting on Twitter, etc.).
Airdrop 400.00 MXY from Metaxy
Metaxy is an NFT-based decentralized fighting game that features a variety of anime-inspired characters.
2000 random winners will receive 200 MXY (~$10).
Top 100 referrers will receive from 400 to 1000 MXY.
- Participate in the airdrop - here
- Let's launch the bot
- We carry out tasks with social networks
- Send your BEP20 wallet address
Valid until January 4
History of airdrops
According to Omise CEO Jun Hasegawa, his company developed the concept of an airdrop based on the Ethereum network in August 2022. Then she announced that she would transfer OMG tokens to every wallet with a balance of at least 0.1 ETH.
Omise decided to hold an airdrop to let people know about this project. However, Hasegawa talks about broader benefits of this distribution model:
The real value of Ethereum projects with an airdrop for all ether owners is that it is an economic mechanism designed to bring together all the Ethereum communities - from developers to users.
The example of Omise with its airdrop was adopted as a PR strategy by many new projects. If in August 2022 the average number of airdrops per month was two, now at least five such distributions occur every day.
Airdrop statistics for 2022 and 2022
As can be seen from the chart, over the specified period there has been an exponential increase in the number of airdrops. This is reminiscent of the trend for ICOs.
Vy Finance Tokens
Vy Finance is a new decentralized finance concept that combines a traditional hedge fund with the power of decentralization. Participants in the airdrop can receive 25 VyFi tokens, which is about $12.50.
What you need to take part in the giveaway:
- Go to the Airdrop Vy Finance form.
- Enter your Cardano wallet address.
- Submit your email and ADA wallet address to the Airdrop form.
- You will receive 25 VyFi tokens .
The next airdrop will begin this weekend.
Giveaway from BAoE Global (up to 20,000 participants)
BAoE is one of the first NFT businesses in the gaming industry. BAoE is designed to help investors create a business empire for themselves. The game has a long-term timeline and a clear roadmap.
- Tasks: 10$ BAoE
- Referral: 3$ BAoE
- Partnership: Grooo INTERNATIONAL, Meta Ultra Holdings, SEM Agency
- Participate in the airdrop - here
Valid until January 19, 2022 (immediate distribution)
