Currently, more than 20 consensus algorithms have been successfully implemented and used. We can emphasize the proof of stake (PoS) algorithm as it is the most functional, stable and secure in terms of vulnerability to hacking.
Hash or hash function is one of the main components of modern cryptography and blockchain algorithms. Hashing is the transformation of any array of information into a unique set of characters. The task of miners and/or stakers is to decrypt these data. Numerous hashing algorithms include PoS, DPoS, SHA256 (used in Bitcoin’s blockchain) and Crypto Night (used in Monero blockchain).
Each block generated by a blockchain contains information. The block size determines the amount of information it can contain. It correlates with the remuneration of miners/stackers.
Frequency of block generation
This parameter affects the blockchain speed and the amount of information transferred within a certain period of time. It correlates with the remuneration of miners/stackers.
Block mining rewards and halving
The initial value of the reward is usually set in coins for each block mined by blockchain miners/stackers. The reward amount can vary according to a preset algorithm. In the classic mining/stacking model, the halving function of the reward in the blockchain is widely used after each set number of the mined blocks.
Initial and maximum issue value
The initial issue value, also known as the premine, is the amount of coins that will be mined when the blockchain is launched. The maximum issue value is the number of blockchain coins that will ever be mined. For example, Bitcoin had an initial issue value of 0 coins, while the maximum issue value was 21 million coins.
Name and ticker
The name of your coin can be officially registered as a trademark, just like the name of any product, but it is important to consider many aspects. A coin ticker is a short designation of a coin that can be displayed on trading exchanges, within your blockchain an in other information application systems and resources.
Branding ecosystem products
A blockchain can include many subproducts that will form an ecosystem. Such subproducts may include cryptocurrency wallets (Desktop: Windows, Linux, MacOS; Web Wallets; Mobile Wallets); blockchain viewers; mining pools; plugins; IDE and other tools to simplify your blockchain operations. Branding ensures proper positioning of the ecosystem product.
We accept your project's native crypto as a payment method for our services (if your project is in CMC 300 rating), which allows you to save more cash on your bank account to drive other business needs.
Monetization of your own projects. Virtual currency is an excellent means of mutual settlement between two parties.
Fundraising for your own startup. If you have a brilliant idea, but do not have enough money to implement it, developing a cryptocurrency is a great way to raise the necessary funds.
The most popular blockchains for issuing tokens are Ethereum, Waves, NEO, EOS, NEM. There are other options, but it is hardly worth paying attention to: a lower amount of commissions, as a rule, indicates weak data security, a more sophisticated management system and, most importantly, a decrease in the degree of confidence of token buyers.
Leading blockchains also have additional benefits: they provide access to multiple currency gateways and a mature investor community.
The platform offers a wide range of opportunities for business projects for fundraising. The EOS operating system provides solutions for scheduling, authenticating, and building Internet applications. Services allow you to fully focus on business processes, depriving startups of the headaches of cryptography and blockchain.
This blockchain platform makes it possible to design client services on its basis and develop various business models. Moreover, you can use the algorithm without delving into the details of the technology itself. In addition, it is very profitable to create and exchange tokens on NEM.
Ethereum advantages include efficient smart contracts, high activity of the community and developers who can share their experience.
Speed is the main advantage of Waves, and this applies not only to transactions. Quite convenient services allow you to issue a token without spending extra time.