FAQS Updated: 07/01/2016
What is a Cryptocurrency?
A cryptocurrency is a digital or virtual currency that uses encryption techniques to secure, create, and transact in measured units. Cryptocurrencies are also known as coins, alt-coins, and virtual currency.
What is CryptoCoinCreator.com?
Crypto Coin Creator is a software package that allows anyone to create their own hybrid cryptocurrency.
How much does CryptoCoinCreator.com cost?
CryptoCoinCreator.com is currently free to use. However if you want to self host, need source code access, or want to list your coin on the CCC exhange, you will need to purchase a commercial license. Contact us at email@example.com for more info.
Are coins created with your software anonymous?
Yes. Coins created with our software are designed to be anonymous and decentralized. Though it is up to the coin creator on how anonymous and decentralized they want it to be.
Can CryptoCoinCreator.com make a coin like Bitcoin, Litecoin, etc?
Crypto Coin Creator has its own set of methods which are different then other alt-coins currently available. Our solution is a cloud based solution for users looking to create a simple to use alt-coin that they can start to use right away. Our coins are secure and feature elliptical curve encryption, a decentralized public ledger system, are fully transportable, and much more.
Are there any monthly fees to create a coin using CryptoCoinCreator.com?
Not at this time.
Do coins made with CryptoCoinCreator.com get mined?
One of the core differences between CryptoCoinCreator.com (CCC) coins is that coins do not get mined. Instead they get dropped or are self distributed by the coin creator. With a commercial license it is possible that coin creators can modify the distribution to serve their own individual needs.
After I create my coin site is there an admin to manage it?
Yes. But you have to access the site using the wallet and credentials that you used when you initially created your coin site. Once you login to your site you will see an option labeled admin. Currently you can turn on and off wallet creation, turn on and off coin drops, upload splash image, upload a coin image, and generate your own coins.
How are the coins generated?
When a coin is first created it starts off as a string. This string is made up of the DATE, CURRENCY SYMBOL, WALLET ADDRESS, and a TRANSACTION KEY. This string is then hashed and the output is saved as .coin file. The body of the .coin file is the data string that was used to create the hash. This data string is then signed by the users private key and saved with the .coin file.
How is a wallet created?
A wallet is generated by taking a data string with the wallet creators chosen UID, PASS KEY and the CURRENCY_SYMBOL. A MD5 hash is then created from this string and the output is saved as a folder with a .wallet extension. When a wallet is created an elliptic-curve key pair is also generated that is unique to the wallet. The public key is written to the public ledger along with the wallet address. The Private key is only accessible to the wallet owner.
What Elliptic Curve are you using for Key Generation and transaction signing?
Currently our software uses SECP256K1. This is the same curve that BITCOIN uses. For more information on this curve you can download this document sec20v2.pdf