An asset is, put simply, a distinct cryptocurrency that runs on top of the ethereum ecosystem. Ethereum assets are secured by the entirety of the hashpower on the ethereum network (currently equivalent to over 1 million GPUs) which makes them an attractive option for those seeking a high level of security for their coin. This is particularly beneficial for those who are looking to create a cryptocurrency with a high percentage of premined coins, or coins that require a fixed supply. Under a Bitcoin based system these coins will not attract many miners and be somewhat insecure as a a result. Leveraging the power of the ethereum network affords these coins a high degree of security that they would otherwise not have.
Underlying ethereum is an advanced programming language that allows a great deal of control over the state of your network. Below is a non-comprehensive list of optional features that can be implemented into your coin:
Freezing of accounts: You (the owner) can freeze or unfreeze any address at will.
Centralized minting: You (the owner) can create new coins on demand.
Provable destruction: Any user can provably destroy coins, removing them from circulation.
Ethereum based coins work significantly different than bitcoin based coins, so it is worth mentioning some key differences. Since you are running on top of the ethereum network, users will need to download the Ethereum client and blockchain in order to send/recieve your coin. In bitcoin based coins, transaction fees are paid using your coin – this is easy enough to understand. However, in ethereum based coins, transactions fees are paid using ether. This means that your users will need to acquire ether in order to transact with your coin.
Assets will be developed in compliance with current industry standards, ensuring compatibility with DAPPs. Due to the complexity and multitude of options available, please contact us to start the process.