Bitcoin Forum

I'm a developer working for a mid-sized firm and the powers that be want my team to spend some time diving into developing an altcoin. I'm pretty sure there are decent tutorials out there for where to start (ie Bitcoin Github) but I'm wondering if you guys have any tips that are not that commonly known.

Also if someone has experience with this we have a consultation/freelance budget.

Thanks.

Do you want an altcoin with custom features or just something to transact value backed by company's resources, stock?

For the former you'll need to make sure your network is secured properly and that isn't easy to do. That is probably the hardest thing to do.
For the latter there is an option to create a token on the NXT blockchain. The cost is a whopping $2, two hours of reading material https://nxtwiki.org/wiki/Monetary_System https://nxtwiki.org/wiki/Asset_Exchange and a few mouse clicks around the NXT client https://nxtforum.org/nrs-releases/nrs-v1-11-5/. NXT takes care of network security, you can instantly get down to business using your token. One recent example out of many: https://bitcointalk.org/index.php?topic=1677509.0

first question you need to ask yourself is why do you want to create a new altcoin.

depending on your answer to this question there are numerous different routs that can be taken in order to make a new cryptocurrency.

also how much knowledge do you have in programming, in cryptography and in general about what cryptocurrencies are supposed to be and do.

Thanks for the responses.

From what I can tell they want to have people trading and exchanging on their network. So buying their altcoins and have the value go up. They usually do this kind of thing with securities and gather leads through marketing to the MICE industry.

I'm going to do some NTX research now.

My team (3 of us) have limited experience with cryptology but we all have CS degrees and are proper developers.

NXT has a private blockchain evaluation kit you might want to look at:
https://nxtforum.org/nrs-releases/private-blockchain-evaluation-kit-v1-11-4/

One of the main values of crypto is decentralized consensus.
With a private centralized network you remove this value. For some applications it is perfectly fine to remove it. I don't know if your application can do without it, but you have both options if you choose NXT.

Make your own altcoin with your own code, it will not commonly knowing. But in this time too rarely to find the new coin with fresh code. Most of them are using the assets by some chain such as ethereum or nxt.
Looks your background is really good to make a new fresh code for new coin for your firm.

Good for you.

Perhaps you should take a look on Ethereum blockchain, which allows you to create a token over it. Maybe this will give you more experimentation room, as you say that you and your team are developers. There is plenty material about it on this forum and on their website.

Depends on what you for..

For most things I would advise created a waves token...
Its fast, as in one click of the button, it's cheap... like 50 cents or less, and it has an environment where you can trade your asset at near instant speed against fiat/ bitcoins/ or other assets and crypto.

Just download the waves wallet through Google Chrome and create an asset.
Heck you can even do it through the tipbot on waves slack.

First - do not set out to create your own Altcoin unless you have a few good devs, a couple of years, and a lot of money to waste.  I've been down that path - but realized quickly the error.

I would suggest you go to the WAVES platform and create your own Token for your business.

https://wavesplatform.com/

It will take you about 1 minute to create your own custom token from the WAVES Lite client.  Just a few simple clicks.

It will cost you about USD 0.50 (1 WAVE)

With this you get the facilities of a Lite Wallet, an Android wallet and a DEX (decentralised exchange) to trade your coin/asset/token. You can also easily list on Cryptopia and Tidex to spread trading.

Previously I used Ethereum tokens in my business - but it was not at all user friendly for my clients and the wallets were a nightmare without using the MyEtherWallet service.  NXT is not user friendly also (complex  and slow).  Moved to WAVES for sheer simplicity, speed of transactions and security.  Nothing to do to maintain your coin after setup.  Anybody can use it and master it in a very short time.

If you really need smart contracts your WAVES Token can be swapped to the Ethereum blockchain via "BlockSwap" and have all the additional functionality of Ethereum - but thats another story                                                                

If you are unsure - just try it out.  You can probably do all your research and trials within an hour.

If you need something simple for your clients to use - WAVES is the only answer IMO.

Join the WAVES Slack if you have any questions - they are an active community that will give you good advice and support.

Join here - https://wavesplatform.herokuapp.com/

ETH, NXT, WAVES can create assets/tokens, you can find more information in ANN section. Go slack and find more information.

https://bitcointalk.org/index.php?board=159.0

recomendation create new altcoin use ethreum token smart contract
and much investor is like this and interest buy if coin create use etherum token

Another possible solution and if you are not in hurry, wait for Ardor, which will go live in Q3 2017. At the moment Ardor is on testnet, you can try and test it at demo.ardorplatform.org
In short, in Ardor you will be able to easily create your own child chain with your own coin. All transaction fees on this chain are paid in your native coin. All child chains will have the same features Nxt has now: Asset exchange, voting, marketplace, monetary system, etc. More information could be found at www.ardorplatform.org or please join Nxt slack at https://nxtchat.herokuapp.com/, here you can get live support or consultations on your project.

Sincerely if you want to manage your own asset, nowadays the best option it's Nxt. Nxt platform is an alpha software running since 2013 and has all the tools to create and manage it easily and secure.

Moreover, Before Ardor releases, you will be able to create your own childchain paying the fees with your own tokens nd the possibility to trade your token with other tokens thanks to global asset exchange.

Other platforms are showing other solutions but remember, blockchain is like a tyre, you have to find the better option for your type of car

Take a look at nxter.org magazine and adel whitepapers, inside www.adelphoi.io (this webs are a precious tool to understand Nxt, and blockchain paradigm)

Regards

My proposal would be Nxt too. One of the most important factors of cryptocurrencies is security. Nxt is stable and safe for more than 3 years with dozens of projects running on it. Be careful with new altcoin platforms, there are often bugs and you don't want your coin being hacked.

In Nxt there are 2 options:

Issue an asset on the Nxt Asset Exchange
When creating assets you can do a crowdsale, people buy NXT and with these NXT they can buy your asset, trade it, create company votings for asset holders, phased transactions for asset holders. And you can give dividend to asset holders. I have done it with my company FARLAWEB. I raised a few thousands euro's to boost my company and in return give the assetholders a piece of my profit with dividend as a bonus. It's very easy.
https://nxtforum.org/assets-board/(ann)-farla-webmedia-investing-in-a-real-life-company-monthly-dividend/msg199954/#msg199954

Issue a currency on the Nxt Monetary System
In Nxt you can create your own coins, which can be traded like a currency. You can even let people mine these coins in the Nxt clients, a lot of possibilties. A bit more advanced than assets, but still can be created in a few minutes. Nautiluscoin is an example of such coin, which is even traded outside Nxt on public exchanges. Voting, phased transactions, shuffling is possible too.
http://coinmarketcap.com/assets/nautiluscoin/

Both these options can be done in a few minutes without development skills. Nxt doesn't use PoW, but PoS and is environmently friendly. Good luck with your project!  :)

please don't create any alt that is only aiming at pump and dump like any ico, i'm sure your company want an ico like many other company, because it's easy to have the money from investors, and to scam later, but making it look like the market killed the coin, which is never true, there is always a big sell off from someone that kill the coin, and this is either the exchange or the dev

Beside NXT, OP should also look at Counterparty, Ethereum, Ethereum Clasic , Omni , Bitshares, Burst, Waves.  All these are asset platforms. and choose the one that fits most to his project.

I don't think Febo, all the coins talked about in this thread are complicated to add, and no the best option for this company.

What i advise you is to check for a POS coin like BLK (BlackCoin) and fork it, maybe Rat4 will provide you with some support but i don't think it is required.
POS coins are what you company need because it requires less infrastructure compared to a POW or POW/POS coin, less Pump&Dump possibilities bue to miners.
Then, using this you can create a customized wallet and incorporate all the features you like, in the language you want. So i think that it is better then creating a token from ETH or ETC as they are hard to implement, NXT no longer exists, now it is ARD and it is under heavy developement, and still unstable.
XMR is not even to be taken in consideration.
Waves is still a baby, but Lisk may be what you are looking for as it is built on NodeJS it may be easier to work with, and their team is open for discussion with everyone with quick support answers.
Burst Omni bitshares are providing features not required by the company, especially regarding exchange intergration, and other stuff.

So prior to start working, i highly advise you to check what is the best coin for you, look for coins who aleready have all the features you want, and fork it, if you are ever stuck you can ask the original dev for help, they are usually open for help.

wat?

Very much alive! I use it daily.  :)

Guy is just FUD'ing :)

https://nxt.org/news/

Ardor is NXT2.0, which means that as soon as the ARD get in production NXT will be discontinued, this is why i conseder it as no longer existing. And it will happen soon.

You should also note that NXT and ARD aren't made for integration, they are made to be a self containing ecosystem, so if his company wants to have the possibility to integrate their coin, the best is to use bitcoin forks or Ripple, as they are made to be integrated, especially bitcoin forks, made for all the languages.

NXT will not be discontinued, try to read again :)

"What will happen to 1.0?
The Nxt Core Devs are committed to providing support, bug fixes and any possible emergency updates for the Nxt 1.0 chain.
It will not be necessary to burn your 1.0 coins to receive 2.0 tokens, and you are free to trade your Ardor Tokens which you will receive after the snapshot period has ended.

The Core Team wants to make migrations to Nxt 2.0 as easy as possible, so is allowing a wide window for making this move.
In short, nothing will change for Nxt 1.0, except that active work on new features will come to a halt. The platform will be actively maintained, so users will still benefit from a secure and well-kept platform.
The Core Team will also provide help and support for users that wish to move their enterprises from Nxt 1.0 to 2.0."

Quote from: http://nxt.org/roadmap/

And POW is out of business for private corporations needs:). Just compare core features of Nxt and other POW blockchain and come back here and try to answer OP request again :)

Well, this is what i was saying.

Maybe they won't stop it now, maybe later, in the end it is the same because it would be useless to fork them, and they can't use them to create an asset as it iwll be difficult for their users to got in.
A clone of BLK would be the best i think, it is pure POS, with new protocol, active development, easy integrations.
They can use any bitcoin fork as long as it is pure POS, maybe PPC also.

Maybe some inspiration for you guys: I started an Nxt Asset for the crowdfunding of my new project, Linkbuilding.io. People can now buy and sell the asset decentralized in the blockchain.

More info here:
https://www.mynxt.info/asset/11240133193452178590

https://linkbuilding.io/crowdfunding/

https://bitcointalk.org/index.php?topic=1873110.0

Godspeed John Glenn.