Since there are hundreds or even thousands of Cryptocurrencies out there around the world, I am rather interested in what are the processes of creating a new cryptocurrency. I’m interested in things like how do people decide when to make new cryptocurrencies, what are the logistics in making the new coins and how do they promote their new coins to the public or certain groups of people in order to facilitate its usage.
I think you are completely new to this forum and the world of Cryptocurrencies. Actually the whole journey started with just Bitcoin and rest of all the Cryptocurrencies came after in the process. But how do people decide to create it is an altogether separate question. Actually most of the people in Crypto world had some projects in mind. These projects used blockchain to solve some need of the people. Atleast this was how they were potrayed on paper. Now after they were brought to limelight a lot of funding was needed for these proejcts to became a reality. This was when the idea of crowdfunding came into the minds of people. What they did was collected money from people and in return gave them a coin just like a share in the company. However, this did not technically made you a part owner of the company due to no legality present but you still could sell these coins in market once they are listed on exchange. And these coins became Cryptocurrencies. Until some time people were creating own blockchain and own coins but then came the phase of Ether ERC-20 Tokens. These were created using smart contracts on Ethererum blockchain itself and were pretty effective and secure. But all this ended up in crowdfunding teams not working on the projects anymore most of them just ran away with the money and left behind plethora of Cryptocurrencies out of which mostly top 200 are actively used and traded.
