Building Your Own Cryptocurrency On The Ethereum Blockchain Just Got Easier
Many people dream of creating their own cryptocurrency. ‘MeCoin, YouCoin, ICoin’ the possibilities are endless. The majority of us of course, wouldn’t have a clue how do to it. Where do you even start with a project so bold?Well, this latest development named Fondu, could be the answer.Fondu is a new ICO smart-contract builder that allows even the least tech savvy to built the foundations of their own cryptocurrency, in an easy to use, ‘fill in the boxes’ format. According to the Fondu website:
“Hi there! I guess you landed here to lay the foundation for your crowd sale smart-contract or even build it here completely. Well, you are at the right place! Fondu is an open source (feel free to submit issues or pull requests), hosted by GitHub Pages and absolutely free to use smart-contract builder. It has initially been created by me as a proof of concept, but heck, maybe somebody could find it useful. Just fill out the questionnaire below and hit the Download files button. Easy peasy lemon squeezy, right?”See the app in its entirety here- https://fondu.io/Essnetially, this system creates the smart contract code for you, ready to be loaded onto the Ethereum blockchain, the website even gives users access to a programme that allows you to do this. It makes the establishment of an ICO, very easy indeed. In fact, some might say it’s ‘easy peasy lemon squeezy’. According to The Next Web, the creator of Fondu, Nikita Kolmogorov has referred to the project as safe and not as something that could in turn be manipulated to launch loads of new, fake ICOs:
“I’m pretty sure that my tool — making ICO’s slightly more accessible — will not cause any new scam-projects to appear. They would’ve appeared even if I didn’t launch the product — and fortunately, smart-contract is like at most 10 [percent] of the ICO costs, so a scam company wouldn’t benefit from it that much. Even more — just launching website, smart-contract and media-campaign is no longer enough to hold a successful token sale, so we should be safe here.”Moreover:
“Way more important is that now anybody can launch ICO with ERC20 [a popular Ethereum token protocol] tokens in [about] 15 minutes. My real cause here is to democratize the ICO and crowdfunding concepts. So that anybody can launch crowdfunding or token sale campaign in no time and for free. Like a house-wife or a house-husband launching a book club economy with ERC20 tokens. Could you imagine this before? I couldn’t — that’s why I tried to reimagine things.”See more for yourself, here. Okay, this is a cool idea and it only builds the very fundamental foundations of a cryptocurrency, therefore these smart contracts aren’t anything to worry about.Though, we have to wonder if this will start to encourage complete strangers to start trying out their own Ethereum smart contracts, will this have a bigger impact on the Ethereum blockchain eventually? Perhaps so.Either way, for now, hopefully Fondu can materialise into a useful tool that can help compliment the generation of new ICOs. Many expect that eventually ‘ICO culture’ will disappear, but perhaps the invention of Fondu will see the management of ICO’s into a more prolonged future.