It is not really about establishing or inventing a cryptocurrency . The most important thing is the problem your cryptocurrency will solve in the crypto space . Without any useful potential you just have to understand that investing or spending money to bring forth a crypto projects will likely be a waste of time.
With the Ethereum network, it is much more easier for people to create their own cryptocurrency using the ethereum network. There are so many cryptocurrency that has been created out of this network.
I understand what you are saying in the sense that ethereum network is much more flexible in its operation than other networks. My question is why do you think that people tend to create cryptocurrency through ethereum which has quite a high market cap, if I am being frank
Having a high market cap is not what matters. what matters is the flexibility of you being able to create your own cryptocurrency using a particular network and ethereum has offered that flexibility.
Alright then, I thought that the high market capitalization of the cryptocurrency would have a direct effect on the ease with which another cryptocurrency could be created from it. Its good you made the correction
No , that is not really what matters. Ethereum is the largest cryptocurrency in existence after bitcoins. But yet a lot of people still prefer to create cryptocurrency using the ethereum network.
I don't think I will ever create my own crypto currency because it requires a lot of knowledge and it's risky plus yku probably need money and time to create a proper crypto currency
This is quite a nice piece of information that you have shared. Why do you think that people prefer to establish cryptocurrencies using the ethereum network as opposed to bitcoin?
Bitcoin does not share its network with anyone and no cryptocurrency has been created under the Bitcoin network before. Most of the network in which other cryptocurrency are created from is smart chain, Tron, Solana and ofcourse the Ethereum network.
Alright, this is good to know. Do you know examples of cryptocurrencies that were created from the Ethereum network in particular? That would be extremely eye-opening information
The most known cryptocurrency created based on Ethereum network is Shiba Inu one and it is getting more and more popular day after day. There is other coins based Ethereum network like Polygon MATIC popular too.
this is actually my first time of hearing of this as i have always rated the eth network very high because of the various innovation they normally bring out from time to time.
Shiba Inu, almost all cryptocurrencies were created from either Ethereum or Bnb . But as they progress other network was being added into it system. Meaning that most cryptocurrency has both Ethereum,Tron , smart chain network in them
Oh, really? Shiba Inu is a coin that I have been following for a long time, so it has surprised me that this fact has escaped me. Ethereum is definitely a strong coin for it to be the bedrock of all these new cryptocurrencies
Any cryptocurrency that is being created out of the ethereum network will always have a higher transaction fee. Most cryptocurrency now are being created with smart chain to reduce the transaction fee but most cryptocurrency that was created out of ethereum network will always add smart chain later into its network .