Creating a new Cryptocurrency

If I am trying to create a currency using a decentralized app, and it is being powered by Ethereum, is there any way to control the supply of the new currency? If the currency exists as a voucher, and it is redeemed (i.e. taken off the market), how can our supply be sustained? Is there a way to code a constant supply increase so the currency doesn't become extinct? And is it even possible to take a currency off the market?

Sorry for the many part question, there's just a lot I don't know yet. Thanks!

Comments

  • qqwyqqwy Posts: 15Member
    Yes, these things are possible. All of them can be enforced by coding rules into the smart contract that manages the new token you want to build.

    how you want to control the supply, there are different approaches. The simplest would be to give the contract a single 'owner' who can create new tokens or destruct the contract (taking all tokens off the market at the same time).

    Of course, this messes with the decentralization concept as users of the contracts are of course at the whim of the owner. But there are other systems that can steer the same logic in a more sophisticated manner, such as, for instance, by allowing a group of people (such as everyone who has the token right now) to vote on certain changes.
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