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So I will be releasing my own cryptocurrency in the next few months.
I'd love to hear everyone's opinions on what characteristics make for a good cryptocurrency.
#investing #crypto #cryptocurrency #bitcoin #ethereum #cardano
@freemo what do you aim for? Like, dApps, "virtual cash", decentralized contract crypto, blockchain tracking system..?
My feeling with cryptos is that they are so broad in applications that it's very difficult to talk about opinions without knowing at least the concept
Some common things I like in cryptos are
* Intrinsic value, that is, some kind of usability (ADA, ETH, you can do stuff with them)
* no PoW, I can see the points in favor but the energy used is just way too much
* strong community around it, with a constant communication with the dev team
* big players in from the early stages
@arteteco I would like to create something that, once mature, is used as an everyday currency. This will likely be an ethereum token (and later a ADA token once it matures). So PoS is where its headed regardless. It seems to me volatility is a barrier to adoption. Coins are either wildly volatile (like ethereum) or entierly stable (like USDT). Neither of which encourage people to invest in it. So the core idea behind my coin (there is a lot to it actually this is just the mile high benefit) is that it is semi-stable.
What i am considering are various modes on top of the equations I already have that may dictate when and how coin is printed and distributed to help encourage a healthy market for the coin.
With fiat we have governments printing it when economies arent doing well and distributing it through loans.. That approach wont work on crypto but my approach is similar in nature whereby the coin adjusts various parameters in order to improve the market and encourage the value of the coin.