How to Create a Cryptocurrency for Your Business

What is cryptocurrency? A cryptocurrency is a digital form of payment that can be exchanged in the real world. It relies on public•key cryptography to secure the transactions and verify the transfer of assets. Cryptocurrency is a virtual currency designed to work as a medium of exchange; it can be bought with traditional money and used to buy both virtual and traditional goods and services. The key characteristics of cryptocurrency Cryptocurrency is secured with cryptography techniques using an ingenious system of public and private digital keys. The most important feature of cryptocurrency is decentralization. Blockchain is public and anyone can join the ledger and become a node. What is the difference between the coin and the token? Coins are cryptocurrencies that are based on their own, standalone blockchains. Tokens do not have their own blockchain and live on existing ones, e.., if the token is being created on Ethereum, it cannot be used on other blockchain platforms. Coins are primarily used as a medium for digital payments. Tokens are used for executing smart contracts, raising funds for crowd sales or as rewards. • 2 How to create your cryptocurrency? Define your business idea Choose the consensus mechanism Pick a blockchain platform Define the nodes Establish your blockchain's internal architecture Integrate blockchain APIS Design the admin and user interfaces Make your cryptocurrency legal Promote your project Jelvíx jelvix.com