The Challenges of Creating a Top Cryptocurrency
July 29, 2020
After a year since I've created a very big cryptocurrency called Beyondcoin. I am going to talk about some of the hardships and challenges that I've faced with getting Beyondcoin on mining pools, exchanges, wallets, and more.
After months of development and after mining the genesis block (the first block) on September 15th, 2019, I knew that there were going to be many challenges up ahead to overcome. Some of the challenges are, but were not limited to, getting on exchanges, a third party block explorer, wallets, and price tracking services. These were some of the challenges that I've faced. Even to this day, we are still combating these challenges. Creating a cryptocurrency isn't a easy task you need to know what you are doing, have the right mindset, and proper skills. Not only do you need that, you also need a lot of money to get things started and I didn't have that. When I launched Beyondcoin, I didn't really have a lot of money and to this day, we still rely on donations to get Beyondcoin on more exchanges and stuff. Adding on to that, when you create a cryptocurrency, it needs to have a use case and purpose if you ever want to see it grow. Like some of Beyondcoin's use cases are, more secure transactions, millisecond transactions using the lightning network, to create a private way of transacting and paying for goods and services. These are just some of Beyondcoin's use cases. With creating a new cryptocurrency, you need it to be unique. For instance, what makes Beyondcoin unique is it's lightning network and applications. Only like 5 coins have a lightning network and not all of them have a use case or good applications for it. The Beyondcoin lightning network will be used for lightning fast transactions and atomic/cross-chain swaps. Another thing that makes Beyondcoin different is the open and friendly community behind it. Spanning at over 500 users and growing quickly, the Beyondcoin community is the friendliest and open community in the cryptocurrency ecosystem. These are just some of the things you will need to have and think about while making a cryptocurrency. This is just the tip of the iceberg, you still will need to think about many other things such as organization and more.
I hope that you've enjoyed this article and understand what hardships and things that are needed to create a cryptocurrency as these were things that I've personally had to face while creating Beyondcoin. Remember to go beyond the impossible and stay safe!