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Category: Crypto Currency

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Craft Your Coin: A Step-by-Step Guide to Creating Your Cryptocurrency!

Craft Your Coin: A Step-by-Step Guide to Creating Your Cryptocurrency!

Welcome to the Cryptocurrency Creation Chronicles! 🚀 Ever fancied the idea of minting your own digital fortune? You’re in the right place! Our blog takes you on an exhilarating journey through the intricate world of cryptocurrency crafting. From unraveling the mystery behind blockchain to the thrill of witnessing your ideas materialize into digital coins, we’re here to guide you. Stay with us a bit longer; there’s a wealth of knowledge coming your way. Curiosity piqued? Keep exploring, and soon, you’ll have the keys to your very own crypto kingdom. The adventure begins now! Introduction In the rapidly evolving landscape of digital finance, cryptocurrencies have transcended their niche origins, thanks in no small part to Bitcoin’s groundbreaking popularity. Yet, the world of cryptocurrency extends far beyond the realms of Bitcoin and Litecoin, holding a promise of innovation and financial transformation that few can fully grasp. Picture this: your very own digital currency, seamlessly integrated into the fabric of everyday transactions, reshaping businesses and rewriting the rules of commerce. It’s not just about Bitcoin; it’s about a revolutionary shift where trade able cryptocurrencies are poised to eclipse traditional concepts like coupons, cashback, and even multi-level marketing strategies. So, are you ready to redefine your understanding of financial possibilities? Are you prepared to explore the limitless potential of your own cryptocurrency? Join us as we navigate the fascinating terrain of digital finance, breaking down complexities and guiding you through the steps that will transform your vision into reality. Together, let’s step into the future of finance and craft a world where your unique cryptocurrency becomes a beacon of innovation and prosperity. Smart Contract Token Vs Mineable Cryptocurrency In the vast landscape of online courses, everyone seems focused on tokens. But let’s be clear, tokens and real coins like Bitcoin and Litecoin are worlds apart. Here, we don’t just teach you to create a token; we empower you to craft your very own cryptocurrency universe. Discover the freedom to develop your mining pool, explore new horizons with your explorer, and design your wallet without relying on Ethereum or Stellar.  Token Cryptocurrency Woes: Actual Cryptocurrency Advantages: Ready to break free from token constraints? Join us and transform your crypto aspirations into a thriving, independent cryptocurrency reality! 11 Steps: Creating Your Digital Currency, Step by Step 1. Cryptocurrency and Blockchain – Vision Creating a new cryptocurrency is like launching a startup; it requires vision and planning. To craft your coin’s purpose, think about the problems it will solve and how it benefits people. For example, if you aim to combat environmental pollution through tree planting, your coin can represent tree ownership, and fruit proceeds go to coin owners. When people want to sell a tree, they sell the coin. Prior to coin development, understand blockchain basics, and pay attention to calculations, hardware, and coin components. Explore these concepts further through optional videos. Your vision is the foundation for building your mineable cryptocurrency. 2. Plan Your Cryptocurrency Once you have a clear vision for your cryptocurrency, it’s time to create a plan. Planning your cryptocurrency means deciding how it will work. Think about Bitcoin, for instance. It has specific rules like a maximum of 21 million coins, mining rewards, halving every 4 years, and its symbol, BTC. Similarly, Litecoin and Ethereum have their own rules. Just like these coins, you’ll need to figure out the rules and details for your cryptocurrency. This plan will include things like how many coins there will be, how people can earn them, and what your cryptocurrency will be called. The parameters you must consider when developing your mineable coin are listed below. 3. Taking care of Source Code Blockchain is like a computer program, and it comes with its own code. The cool thing is that many blockchain platforms, like Bitcoin, Litecoin, Ethereum, and others, share their code on a website called GitHub. You can think of it as a big library for computer code. When you want to make your own mineable cryptocurrency, you have to decide what kind of computer code it will use. For example, Bitcoin uses a code called SHA256, and Litecoin uses one called Scrypt. Instead of creating all the code from scratch, it’s often smarter and faster to take the code from GitHub and change it to make your own cryptocurrency. It’s a bit like using a recipe to make a delicious meal but adding your own special ingredients to make it unique. You can get the code and resources you need from a specific website to help you create your cryptocurrency. 4. Generating Genesis Block of your mineable cryptocurrency Every Blockchain Application’s genesis block is the first blockchain. And your cryptocurrency is nothing more than a blockchain app. When creating the Genesis block for Bitcoin, we must generate three Genesis blocks. There are three Genesis Blocks. These three genesis blocks can be created with C++ source code. You can also use an existing Python script to build this genesis block. However, constructing the above three Genesis blocks in C++ and Python script may take a significant amount of time and resources. We designed a little web application to simplify the process of constructing three genesis blocks. Please use this URL to visit this web application and produce a Genesis block for your Mineable Cryptocurrency. 5. Coding – How to create a Mineable Cryptocurrency Coding is a tricky part of making your own mineable cryptocurrency. Here’s what you need to do: I can’t explain every single detail here, but there’s a course on Udemy that can help you with all the steps to create your own cryptocurrency. It’s like a guide that walks you through the process step by step. 6. Building your own Cryptocurrency Creating your own mineable cryptocurrency involves a few technical steps. First, you compile the coin using a program called a C++ compiler. Then, you make a special file that can run on computers using Windows or Linux. To do this, you need to install some necessary tools on your computer. After that,

Listing Crypto Coin on Exchanges. How To Figure Out which Exchange

Listing Crypto Coin on Exchanges. How To Figure Out which Exchange

Techaroha helps with Listing Crypto Coin on Exchanges with the minimum possible fees. Below blog will help you to explore different exchanges and cost to list your coin on the exchanges. Note: All figures and Stats mentioned are as on date of analysis. This might have changed when you are viewing the article. References : https://poloniex.com/ www.binance.com Hitbtc.com https://yobit.net/   https://mercatox.com Stocks.Exchange BitRidex.com Cryptocrix.net     Brief Requirement of Study   To Study the Impact of coin on Different Exchanges To Find the best possible exchanges and list the coin To mention the risk , pros and cons  of Different Exchange Cost involved to list the coin and ROI   Service We need to Buy from Exchange Coin Listing Air Drop of our coins Emailing to existing Users Some assurance of Minimum Buy   General Analysis  – Importance of Exchange Main target to list the coin on exchange is To get more buyers of our coin. To Give worldwide exposure to our coin To get Listing in Coin Market Cap Let’s get directly to the quantitative analysis. See the table below Exchange Name Total Volume Low Volume Coin (Less than 0.001 BTC) Percentage of Total Poloniex.com 4000 BTC 3 < 1% Binance.com 154704 BTC 10 <1% HitBtc.com 40582 BTC 50 > 30% Yobit.net 3731 BTC 70+ >50% Mercatox.com 800 BTC 50+ >50% Stocks.exchange 32 BTC 100 > 60% BitRidex.com 250 BTC 3 >50% Cryptocrix.net Not Known 3 >80%   Above table clearly shows that  considering the exception of Poloniex and Binanace , it’s clear that Coin Listing in Big Exchanges doesn’t guarantees that coin will be purchase on huge volume. Even in very big exchanges there are coins which don’t have enough volume. Coin volumes mainly depends on following factor How much big is the community How much active is the development team How many places where coin is readily accepts as other form of payment How Strong is the technicalities of the coin. How strongly it’s being promoted and it’s being brought in the attention of Crypto Users. Time Taken to Grow on the Exchanges After coin is being listed on the exchanges , it’s not wait and watch. Lot of efforts need to put up to get the users attention. To do self sell and purchase and buy more coins , this needs to be done to pump up the rate. Coin dumping needs to be avoided to maintain the rates.Need to ensure private source code or heavy mining machine. Because Crypto Miners immediately start mining and sell them when the price is right. They may even start dumping the coin. After all the above steps are taken post listin the coins , lets see how much time is required to attend the organic 1 BTC Volume. Without our own pumpers. Time Taken By Exchanges to Reach 1 BTC Volume in Organic Way No Pumping by Founders Exchange Name Total Volume Time in Months Comments Poloniex.com 4000 BTC 3-4 Months No Guarantee but chances are high Binance.com 154704 BTC 3-4 Months No Guarantee but chances are high HitBtc.com 40582 BTC 6-7 Months No Guarantee. Chances are high if you by their other services Yobit.net 3731 BTC – No Guarantee Mercatox.com 800 BTC – No Guarantee Stocks.exchange 32 BTC – No Guarantee BitRidex.com 350 BTC 4-5 Months Guarantee if you buy Specific Package. Cryptocrix.net Not Known – No Guarantee   Above analysis clears that reaching volume is again off line work , it’s like promoting coin to international users. International Crypto Users are not fool to buy the coin , just seeing them on Exchange. Lot of other efforts are required , main in marketing and technical upgrade of coins on regular basis.   Pros and Cons of Exchanges Lets analyse the pros and cons of reference exchanges and see where we fit.   Exchange Total Volume Pros Cons Poloniex.com 4000 BTC High Volume , Listed on Cryptomarket , Good User Base Check  Criteria , many coins don’t fit here Binance.com 154704 BTC High Volume , Listed on Cryptomarket , Good User Base Check  Criteria , many coins don’t fit here HitBtc.com 40582 BTC High Volume , Listed on Cryptomarket , Good User Base Many coins are listed , No attention to small coins , high listing fee of upto 10-25 BTC Yobit.net 3731 BTC High Volume , Very High User Base , Listed in Cryptocompare Bad Support , Many Coins without Volume , No Attention to Small Coins Mercatox.com 800 BTC Average Volume , Average User Base , Listed in Cryptocompare Many Coins with 0 volume , No Support from Exchange related to Coin Boost Up. Stocks.exchange 32 BTC Listed in Cryptocompare Airdrop is cheap and can help to boost coin presence Many Coins with 0 volume, No attention to new or small coins. Airdrop is average BitRidex.com 250 BTC Average Volume , Great Support for Coin Pumping.Average User Base , Accepts private repository with additional payments Not listed in Cryptomarket will take more 4 months as mentioned by support team , Average User Base , Support response time is 24 Hour which is slow. Cryptocrix.net Not Known Cheap Listing in around 0.1 to 0.2 BTC. Good Support in 24 Hours. Withdrawal cycle every 6 Hours. Low Volume , Low User Base , Not listed in Cryptomarket   Understanding Exchange Fees Every Exchange has some good features and their fees is also high.Coin Owner needs to choose between the best available features and his requirement and most important is the budget. Below is the rough comparison of different exchanges in relation to Budget. Exchange Name Total Volume Fee Services Comment Poloniex.com 4000 BTC      0 BTC Only Coin Listing Coin’s don’t feet into Criteria. Binance.com 154704 BTC     0 BTC Only Coin List , Airdrop Coin’s don’t feet into Criteria. HitBtc.com 40582 BTC     10-25      BTC Coin LIsting , Aird Drop , Twitter Update Too Costly Yobit.net 3731 BTC     1.5 BTC Coin Listing , Airdrop If Not Listed 100% refund guarantee.

Install Litecoin Core in Ubuntu from Source Code

Install Litecoin Core in Ubuntu from Source Code

….. Cryptcurrency Cryptocurrency are the blockchain based currency which offers best alternative to the fiat currency. Cryptocurrency are much better in terms of security , transparency and its very environment friendly because it doesn’t user paper. Altcoin With the success of Bitcoin many other currencies where launched like Ethereum , Litecoin , Monero and many more.This currency are often termed as Altcoin . A cryptocurrency is successfully when it has very big and active community and many core node running to make it very powerful. But running a cryptocurrency core node requires some technical expertise and as result many indidvuale are not running nodes they just care for the wallet. To brigde the gap Techaorha team has listed out instructions to build altcoin form source code and make their own core node. Below steps give insight to Install Litecoin Core in Ubuntu from Source code. Follow Below Instructions to Install Litecoin Core in Ubuntu 1. Install and Update Pre-equired Packages. Install Litecoin core requires some packages to build and execute. Follow below command to install the requisite. #update package sudo apt-get update #install git if not available sudo apt-get install git #Install essential and dependencies. sudo apt-get install build-essential #Install Dependencies sudo apt-get install autoconf libtool pkg-config libboost-all-dev libssl-dev libprotobuf-dev protobuf-compiler libevent-dev libqt4-dev libcanberra-gtk-module #thanks. After this we need to install berkeley db 2. Install Berkeley DB 4.8 Berkeley is must and the version is also very specific. You need to install only Berkeley DB 4.8 , if you install any other system it will show an error. Found Berkeley DB other than 4.8 . Since we need to install specific version you have to compile from source code instead of directly deploying form Ubuntu packages. Please execute/use following commands to install Berkeley DB 4.8 in Ubuntu wget http://download.oracle.com/berkeley-db/db-4.8.30.NC.tar.gz echo ’12edc0df75bf9abd7f82f821795bcee50f42cb2e5f76a6a281b85732798364ef db-4.8.30.NC.tar.gz’ | sha256sum -c tar -xvf db-4.8.30.NC.tar.gz cd db-4.8.30.NC/build_unix mkdir -p build BDB_PREFIX=$(pwd)/build ../dist/configure –disable-shared –enable-cxx –with-pic –prefix=$BDB_PREFIX make make install 3. Install Litecoin Core Node Once the dependencies are install next step is to install the Litecoin Core in the system. Execute  below steps to install the Litecoin Core in Ubuntu #below commands git clone https://github.com/litecoin-project/litecoin.git cd litecoin sudo chmod -R 777 . ./autogen.sh ./configure CPPFLAGS=”-I${BDB_PREFIX}/include/ -O2″ LDFLAGS=”-L${BDB_PREFIX}/lib/” make 3. Setup Config and Run Node 1. Create folder same as “.name of coin” , in our case it’s  “.litecoin”  in root directory of Users , in AWS it will be /houme/ubuntu 2.  Create a file with a name “litecoin.conf” inside newly create folder 3. Go to folder of coin and then src folder i.e /home/ubuntu/litecoin/src and run the command ./litecoind If you want any assistance from Techaroha Team to Install or Create a new coin please contact us here.

Setup Explorer for Cryptocoin in Ubuntu 14.04

Setup Explorer for Cryptocoin in Ubuntu 14.04

Cryptocoin Explorer are used to view and track transaction in the blockchain network. Many opensource explorer are available in the git repository you can use as per choice. This article explains how to Setup Explorer for Cryptocoin in Ubuntu. Explorer are must for any cryptocoin to track the transaction , blockchain is an public ledger but explorer make its actually visible to user. In short its the ui of block chain technology or block chain based currency. Setup Crytpocoin explorer Cryptocoin explorer requires different software or packages in ubuntu to be installed. This article explains how to setup iquidus Explorer in your Ubuntu Operating System. Major Component required to Setup Explorer.  Nodes Js Mongo DB Coin Setup Domain Point Let understand each and every step to Setup Explorer.  Node Js Node Js is required to run the UI of the Explorer and interact with coin to fetch the data and insert the same into Mongo DB. You can installed Node Js using There are three ways of installing Node JS 1. Binary Installation. Please view the link for Details Step. Click Here to Install Nodes Js From Binary 2. Installation from Source Code. To install Node js from Source Code Click Here 3. Installation from Ubuntu Packages. To install Node Js from Ubuntu Packages click here Mongo DB Mongo DB serves as an back-end to  Explorer. All the transaction in block chain are also stored in Mongo DB. Please click here to Install Mongo DB in your ubuntu system. Once Mongo DB is installed we need to create the database which will be by iquidus explorer and setup the credentials for that. First following commands to ready Mongo DB for your explorer. #Run Mongo $ mongo #Create Database. Below command create the database if database doesn’t exist or it will just open the db for further actions. use explorerDatabase #Create User. db.createUser( { user: “techaroha”, pwd: “techPassword”, roles: [ “readWrite” ] } ) Coin Setup This is the most important part. Coin core daemons needs to installed and config files to be configured correctly to ensure that Explorer can fetch all the required. Here we will take an example of Litecoin. Please click here to install Litecoin Core in Ubuntu 14.0.4 Once the core is installed we need to setup config file. Config file will help connecting explorer to Coin and fetch the required data for Display. Example Configurations for Litecoin  Core for explorer is given in the below rpcuser=Yourusername rpcpassword=Yourpassword rpcallowip=127.0.0.1 daemon=1 server=1 listen=1 #Below config is must so that litecoin core will fetch and stored all the transactions txindex=1 Configuring Iquidus – Explorer UI(User Interface) Clone or Download the Source code from GitHub  https://github.com/iquidus/explorer or you can clone the repository using following commandgit clone https://github.com/iquidus/explorer Go to explorer folder and rename the file settings.json.template to settings.json Open the new setting.json file and change the following parameters #Change the Title to your coin name “title”: “IQUIDUS”, #Change the coin name “coin”: “Darkcoin”, #change the ticker or Symbol of Coin “symbol”: “DRK”, # change the Logo “logo”: “/images/logo.png”, # change the favicon as per your need “favicon”: “public/favicon.ico”, # Db setting very importtant. # Rember the username password we have setup for mongodb “dbsettings”: { “user”: “techaroha”, “password”: “techarohaPassword”, “database”: “explorerDatabase”, “address”: “localhost”, “port”: 27017 }, # Configuration of coin to connect via RPC and fetch Data. # In the conf file of Litecoin we have setup certain credentials , # we need to user them here // wallet settings “wallet”: { “host”: “localhost”, “port”: 9332, “user”: “YourUsername”, “pass”: “YourPassword” }, Setting Up Cron for Data syncing Open crontab using command  crontab -e and add following crons for explorer data sync */5 * * * * cd /var/www/html/blogs/techaroha_wordpress/explorer && /usr/local/bin/node scripts/sync.js index update > /dev/null 2>&1 */7 * * * * cd /home/ubuntu/explorer && /usr/local/bin/node scripts/sync.js market > /dev/null 2>&1 */9 * * * * cd /var/www/html/blogs/techaroha_wordpress/explorer && /usr/local/bin/node scripts/peers.js > /dev/null 2>&1 Now start the node js application in background using following command npm install pm2 start ./bin/cluster –node-args=”–stack-size=10000″  Now finally run the url YourIP:3001 and you will see your explorer. If you want this explorer to be pointed to some domain , please go through this link. Please contact us here if you want any assistance.

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