So you want to be a software developer? Learn how to create your own cryocurrency

ByLance T. Lee

Mar 21, 2022
Sunny SanwarCEO of an energy consumption tracking AI company Dynamhex, has been using blockchain for over a decade. He recently walked Technically how to create cryptocurrency, one of the most popular blockchain based products, in programming language Solidity.

Sunny mainly uses this technology to run his startup, which made this year’s success Baltimore RealLIST Startups listing. Ethereum blockchain is used to create fungible tokens that can verify power consumption and let a user know where the electricity came from, as well as what it powered. In practice, Sunny uses this blockchain code to check how much solar energy was produced on a specific day and where exactly it went. His company does this on a larger scale for cities and municipalities that collect energy use and carbon footprint data, which helps those clients develop more informed climate commitments and action plans.

“We are climate action for the Web 3.0 world,” Sunny said of his company. “I want to make sure my footprint is actually reduced based on cryptographic verifiability.”

Essentially, his company makes cryptocurrencies for anyone who wants to track their carbon footprint.

The programs and code behind the piece

Solidity is an object-oriented programming language for creating cryptocurrency, as well as fungible and non-fungible tokens. It is particularly suitable for smart contracts and blockchain, which underpins all of Web3.

Fungible tokens are equivalent and interchangeable, like a dollar or any other currency. All Efthereum-based coins operate on the ERC20 standard; this and other standards are community-developed rules that these cryptocurrencies follow in their source code, allowing them to work and exchange data with other products and services.

These normalizations allow for the existence of GitHub libraries that you can plug into to do the heavy coding. For example, Open Zeppelina cybersecurity company that provides open source code with built-in security and community standard features, created this GitHub ERC20 library.

Sunny’s coin (featured in the video below) had 600 lines of code already pre-written by the wider open-source developer community. It just called these libraries in its own code. The only changes he made were to individually name his “sunny room” and set the amount available.

To visualize and write its code, Sunny used VisualStudio. He compiled and ultimately created the cryptocurrency using Ethereum Remix — which, like Visual Studio, is available for free.

Check out the full tutorial below.

Donte Kirby is a 2020-2022 corps member of Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supported by the Robert W. Deutsch Foundation. -30-

Source link