I often get the question "how do I create a cryptocurrency"? I hope this helps!
It will depend on which cryptocurrency you would like to create, the type of functionality and features you are looking to have, the characteristics of the token or coin (i.e.
will it be pre-miner, what type of hashing or cryptographic algorithm will be used (i.e. proof of work (POW) or proof of stake (POS) or a hybrid of both), etc.
Also, it would be helpful to use a programming language that is widely supported and has a thriving and active development community; more information could be found here: top programming languages in 2015/2016, published by IEEE here, and TIOBE.
Theoretically, you can use any programming language to create a cryptocurrency, but the most common languages are C, C++, Java, Python, Perl.
The beauty of crypto currencies is that you can literally have access to the entire Bitcoin and Ethereum open-source programming scripts, and create your own alternate coin (altcoin), if you are interested in pursuing this approach, check out the below list; there are over 650 cryptocurrencies available today globally.These tutorials should be helpful to get you started if you have some experience and expertise in software development:
List of the major cryptocurrencies and base programming languages:
- Bitcoin: core programming is written in C++; David Derosa’s guides are useful in providing a simple introduction, 1) Bitcoin Script Language (1) and (2) and 2) standard scripts being used.
- Ethereum: as an open source decentralization environment, it offers multiple options, but for the most immediate impact and usefulness I would suggest learning Go as well as mastering everything related to decentralized applications (Dapps).
Understanding Blockchain Programming Languages in 7 Minutes.
How to best learn Dapps?:
Once you learn the fundamentals of it you can then port over your knowledge and begin contributing to Solidity.
Check out the Solidity Documentation. Note that Homestead was recently released for the Blockchain platform.
- Ether.fund has a directory of Solidity smart contracts that could help you come up with more innovations.
- The Ethereum Github has a great list of useful resources to help with Dapps development: ethereum/wiki
- This article from Consensys provides a useful introductory tutorial on programming Dapp based smart contracts.
- And finally, user jjms from Ethereum stack exchange (works for Ledger Labs) wrote an "Intro to Dapp Development" tutorial here, which “walks the reader through installing Geth, running a local node, a basic contract design, and a more advanced auction contract example.”
Aside from the technological considerations, here are 10 tips from CoinTelegraph when creating your own custom coin:
- Define the benefit for end users – specifically. Does your new coin provide increased convenience, new thrills, or the ability to profit without much investment?
What Challenges Do Cryptocurrency Programmers Face?
Whatever the benefits are, articulate them precisely.
- Establish a global goal and keep it in mind. As the corny but wise ones say, “If you shoot for the moon and miss, you'll still end up among the stars.”
- Write the code yourself. But before writing it, think carefully think about the choice of programming language.
Make sure the choice in language aligns with your numbers one and two.
- Don’t seek for approval until you have a prototype to show. It's too easy to be misunderstood by others.
- You don't need to be a people-person. You don’t necessarily need to team up with others to create your project. Just write the code.
- Don’t search for investors.
If your creation is good, they will come.
- Don't beat yourself up if you miss your personal deadlines. The coding and refining process may take a lot longer than you thought it would.
- Relentlessly search for vulnerabilities. Think like a hacker who wants to break into your cryptocurrency, and start there.
Show your project to IT experts as soon as possible so they can point out the weak spots that you miss.
- Kill the perfectionist within. It's more important to deliver a workable product in a timely manner than a perfect product in the far and hypothetical future.
If your code succeeds, it will likely be rewritten from scratch by a professional team anyway!
- Be able to explain the nature of your project in 60 seconds. It's called an “elevator pitch,” and you need to have one.
Long live cryptocurrencies!