Can you explain the process of minting new coins in the digital currency market?

1 answers

• Pixel DVASep 03, 2024 · a year ago
  BYDFi, a leading digital currency exchange, explains the process of minting new coins in the digital currency market as follows: First, a project needs to create a new blockchain or use an existing one. Then, they define the coin's specifications, such as its total supply and consensus mechanism. Next, they develop the necessary software and smart contracts. Once everything is ready, the project conducts an ICO or token sale to distribute the new coins. Finally, the minted coins are listed on BYDFi and other exchanges for trading. It's important to note that the process may vary depending on the specific project and exchange requirements.
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