I wanted to create my own cryptocurrency, so I did some research and tried out a few different platforms – including Counterparty, Ethereum, Colored Coins, Coinprism, etc. I found out that the Waves Platform was the most widely used (of non-developers) and easiest to use from a user standpoint.
What is WAVES?
” The Waves Platform is the Waves Blockchain and the Waves Client built on top of that blockchain while everything else is part of the overall Waves Ecosystem. “
- Waves Blockchain
- Waves Client | [[2a. Token Creation | 2b. Wallet > Assets | 2c. Portfolio | 2d. Exchange | 2e. Wallet > Leasing (?) ]
3. Waves Ecosystem
(watch first 1:37 of video)
https://ide.wavesplatform.com/ (Integrated Development Environment for writing Smart Contracts)
RIDE programming language
Based out of Russia (link)
Waves blockchain uses Proof of Stake. (placeholder to do more research)
They wanted to make a platform where you can create your own token/coin like ETH without having to be an ETH Developer.
Read More here:This is a good post about what Waves is. (details about PoS consensus algorithm and more details here)
What is Brockcoin??
Brockcoin is already done.
However, my blog post on it got deleted somehow. Going to create “brockcointwo” so I can save the steps that I took.
Here are the steps I followed to create Brockcointwo:
- You have to download the Waves Client software to start. I already did that on my home PC, but since I would be using my laptop, I had to download it to my laptop. Each device is a separate Client with its own login and password. If you want to move your coins, you have to send it from one wallet to another. (Unlike Coinbase or exchanges)
2. There is a fee to create your coin and you have to pay it in Waves’ coin, so you have to get some of that to start. Here is what that will cost you.
1 WAVES = $2.87 (as of 4/1/19)
Creation = 1 WAVES
TX FEE = 0.001 WAVES or $0.00287
(BTC TX FEE = $0.19 sending $25)
3. You have to send BTC to the Waves Client. You also have to wait until that TX goes through and is CONFIRMED. (Tanner helped me understand the BTC MEM POOL)
Why is it recorded on BTC blockchain and WAVES blockchain? (?)
4. Wait: Example: 1:00pm until 3:37pm CST (2 hrs 37 min)
5. Log in again.
Waves Client will time out. Good security. Bad convenience.
6. Convert BTC to WAVES
I didn’t have to since the fee is only 1 WAVES coin. But bought 5 anyway:
7. Once you have some WAVES coins, you can go to Token Generation
Old Interface: (when brockcoin was created)
7B. Token Generation Details for brockcointwo:
Just like brockcoin, but spelled different. “one of the best coins out there. most of the same properties as BTC but with 25 cent tx fees. ” Also, this isn’t a shitcoin scam like Tannercoin. #facts
7C: Details Continued:
7D: Turned off “Smart Asset”
8. Hit Generate. (Fee is 1 WAVES coin)
8B. Generate Confirmation Page
8C: Confirmation Page:
8D. SPAM and Suspicious Coins/Tokens:
9. This creates a new Transaction on the Waves Blockchain
10. Portfolio View
11. Now what?
Send it!! (From Home PC to Phone)
12. This creates a transaction. Fee is 0.001 WAVES coin
13. What it looks like on my phone:
brockcointwo is now LIVE!!