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I am newbie in ethereum wallet. I need to generate a custom currency using ethereum but due to very little guidance for it over net i am getting confused and not getting any suitable output from last 2 weeks. I would be thankful if i can get help from any one so that I can proceed on it and get some progress over it.

Thanks in advance

Ravi Verma
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2 Answers2

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In order to create your own token you can deploy your ERC20 smart-contract using the following smart-contracts example as a base : Smart-contract examples from consensys

As it looks like you're beginning on the topic, i'd recommend you to read and learn about ERC20 and smart-contract programming before trying to deploy anything on the main net.

You'll find a useful tutorial here

Asone
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  • Thanks for your reply. I followed the steps and created a token(in Ropsten test environment) but whenever I make a transaction, ethers get transferred but I want the transfer to be made on the basis of my token and not ether. can you please help me in this regard? Thanks – Ravi Verma Dec 19 '17 at 05:01
  • Do we need to have any ethereum coin available to create contracts or custom currency for test? – Ravi Verma Dec 19 '17 at 05:40
  • Yes, as you will use gas to deploy contract you'll need some eth in order to pay this gas. If you intend to deploy on a testnet you'll have to request for some ether. Many testnets put at your disposal faucets or specific pages with process instructions in order to transfer you some ether on the selected network. – Asone Dec 19 '17 at 08:50
  • ok thanks once again. can you please also tell how the value of this token be increased??(Will it be based on number of transactions only?) Also, when transaction is made, will amount be transferred in ether or in our token – Ravi Verma Dec 19 '17 at 10:27
  • Currency value is coming from offer & demand. Selling a token for btc or ETH doesn't move your coins as most of the time the buy/sell order is made on an exchange. The move is just internal to the platform. When moving a token from a wallet to another, you smart contract will just write the new balances of the wallets in its variable states. Definitely, you sould go in further reading of the basics before launching any currency. – Asone Dec 19 '17 at 10:52
  • yes thanks..so whenever I am making transactions the token value is changing in % like initially it was 100% then based on no. of transactions and their volume its like 93% now. can you pls tell what does this % specify?? because if I check transactions on etherscan both receiver and sender account show different token values – Ravi Verma Dec 19 '17 at 12:20
  • token value is an economical topic, not a technical one. I'm not sure this place is the best one to talk about economics – Asone Dec 19 '17 at 16:04
  • Alright thanks for replying. One more question - can you please throw some light on contract address. Is it a unique address between two wallet addresses or multiple accounts can hold a contract address? Or is it unique for each token – Ravi Verma Dec 22 '17 at 06:56
  • Thanks for replying! Can you please also tell me that suppose I generated 10 tokens for my currency and later on I want 10 more to be mined. How can I achieve that?? – Ravi Verma Jan 02 '18 at 06:07
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Also you can read some docs about ethereum erc20 standart like https://theethereum.wiki/w/index.php/ERC20_Token_Standard or another in google.

http://truffleframework.com/tutorials/ also, you can learn more about smart contract development in trunffle tutorials.

Alexander Babenko
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