Launching a Cryptocurrency on Stellar Protocol

RobertHaastrup-Timmi

Hi from Blackworld.com. Is it possible to launch a new cryptocurrency on stellar protocol, that would allow us to compete universally as a store of value like BTC, ETH, Dash etc and can be used for payments? Design it with attributes and incentives however we like etc. The coin would also need to be listed on Coinmarketcap and tradable on major exchanges.

Is it also possible to utilize Stellar protocol to build an independent Decentralized Exchange similar to Bitshares Openledger, with our own default " Native " cryptocurrency as aforementioned. Therefore all other major cryptocurrencies and assets can be traded/exchanged against our native currency, or paired, traded and exchanged against each other. We would also want to allow issuance of new digital assets on our DEX. Cheers!

bkolobara

RobertHaastrup-Timmi

Hi, yes you can issue your own tokens on stellar. This is one of the main ideas behind it. I'm not sure if tools exist already to do this easily (maybe a good idea for the build challenge). You will just need to take care to limit the supply and see how you distribute coins. I personally like tokens that are supported by real value and not just created out of thin air (anchors).

Like Lumens (XLM) it can be tradable on exchanges and listed on coinmarketcap.com, but it may be a bit hard to convince them to do so.

Stellar already has a decentralised exchange built in that you can use for your own currency. With stellarterm you can already today trade on it. You should be able to build your own interface just looking at currency pairs you are interested in (your own).

For details you will need to dive deeper into the stellar documentation, but to me it looks like this is definitely possible.