Study in View of Development of a National Cryptocurrency

Georges Bell Bitjoka; Bouetou Thomas; Ferdinand Yves Mbarga

doi:doi:10.11648/j.ajcst.20200303.12

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Study in View of Development of a National Cryptocurrency

Georges Bell Bitjoka, Bouetou Thomas, Ferdinand Yves Mbarga

Published in American Journal of Computer Science and Technology (Volume 3, Issue 3)

Received: 19 June 2020 Accepted: 9 July 2020 Published: 23 July 2020

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Abstract

The study of cryptocurrencies doesn’t clearly propose different approaches that provide cryptocurrency development. The purpose of this paper is to determine approaches to cryptocurrency development, in which we select one to develop a national cryptocurrency that will be able to bring out Cameroun from CFA Franc. Developing a national cryptocurrency or bringing out Cameroun from CFA Franc is a monetary issue which is generalized in the problem of commodity exchange. This problem focuses on how to exchange goods and services while ensuring stakeholder satisfaction. To this end, after a brief literature review on the commodity exchange system, money and Bitcoin, we first explored possible approaches to the development of cryptocurrencies. The study in these approaches has enabled us to determine four different solutions: firstly by token development, secondly by hard fork development, thirdly by fork of source code development, and at last by fork of software development. For each approach, we make a summary presentation which lists its stages of development. The comparison of these approaches in terms of development time, development cost dependence on a blockchain platform and solution to exit from the CFA Franc led us to choose fork of software approach. The fork of software approach of cryptocurrencies development best solves our problem, since it offers us a cryptocurrency development solution, but also proprietary currency which is independent of blockchain platforms. Fork of software is a fork approach that observes behavior of existing software, in view to implementing it again and/or customizing it. We proposed an explorative development method which combines: the iterative and incremental method with evolutionary prototype, for application of the development approach retained above.

Published in	American Journal of Computer Science and Technology (Volume 3, Issue 3)
DOI	10.11648/j.ajcst.20200303.12
Page(s)	46-56
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Commodity Exchange System, Currency, Cryptocurrency, Bitcoin, Cryptocurrency Development Approach

References

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[2]	Alain Faujas; Exit of the CFA Franc: whattheprojectfrenchlawsays; Jeune Afrique; 21mai 2020; https://www.jeuneafrique.com/985419/economie/sortie-du-franc-cfa-ce-que-dit-le-projet-de-loi-francais/.
[3]	Bernard Lietaer; What is the problem with our curren tmoney system? 17 September 2010; http://www.lietaer.com/2010/09/what-is-the-problem-with-our-current-money-system/.
[4]	A. S. Siddiqui; Comprehensive Economics XII; Laxmi Publications; 2011.
[5]	Ross M. Starr; The Structure of Exchange in Barterand Monetary Economies; The Quarterly Journal of Economics; Vol. 86, No. 2 (May, 1972), pp. 290-302.
[6]	M. Simonson; Study of a Cashless Service Exchange System; Digital or Visual Products; 2006.
[7]	Jerome Blanc, Cyrille Ferraton; Social currency? Local Exchange Systems (SEL) and solidarity economy; 2005; pp. 83-98.
[8]	Jean-Yves Capul and Olivier GARNIER; Dictionary of Economics and Social Sciences; Hatier; third edition; 1996.
[9]	Seraphin PraoYao; The CFA franc, acurrency that delays Africa; Bibliotheca; Vol. XII, Issue 3; 2011; pp. 145-162.
[10]	Andreas Antonopoulos, Mastering Bitcoin; O’Reilly; Second edition; July 2017.
[11]	Imran Bashir; Mastering Blockchain; Packt Publishing; Second edition; March 2018.
[12]	Hussain Ali M. et al.; Implementation of national cryptocurrency using ethereum development platform; Periodicals of Engineereing and Natural Sciences; Vol 7, No. 3September2019; pp. 1021-1019.
[13]	Adam Abdullah et al.; A Framework of Development of a National Crypto-Currency; International Journal of Economics and Finances; Vol. 10, No. 9; 2018.
[14]	Fabian Vogelstellerand Vitalik Buterin; ERC-20 token standard; 2015; https://github.com/ethereum/EIPs/blob/master/EIPS/eip-20.md.
[15]	Nick Webb; A Fork in the Blockchain: Income Tax and the Bitcoin/BitcoinCash Hard Fork; North Carolina Journal of Law & Technology; Janary 2018.
[16]	Linus Nyman; Understanding Code Forkingin Open Source Software, An examination of code forking, its effect on open source software, and how it is viewed and practiced by developers; EditaPrimaLtd; 2015.
[17]	Anne-Marie Hugues; Different life cycle models; december 2002; https://studylibfr.com/doc/2662740/2.differents-modeles-de-cycles-de-vie/.

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Georges Bell Bitjoka, Bouetou Thomas, Ferdinand Yves Mbarga. (2020). Study in View of Development of a National Cryptocurrency. American Journal of Computer Science and Technology, 3(3), 46-56. https://doi.org/10.11648/j.ajcst.20200303.12

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ACS Style

Georges Bell Bitjoka; Bouetou Thomas; Ferdinand Yves Mbarga. Study in View of Development of a National Cryptocurrency. Am. J. Comput. Sci. Technol. 2020, 3(3), 46-56. doi: 10.11648/j.ajcst.20200303.12

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AMA Style

Georges Bell Bitjoka, Bouetou Thomas, Ferdinand Yves Mbarga. Study in View of Development of a National Cryptocurrency. Am J Comput Sci Technol. 2020;3(3):46-56. doi: 10.11648/j.ajcst.20200303.12

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@article{10.11648/j.ajcst.20200303.12,
  author = {Georges Bell Bitjoka and Bouetou Thomas and Ferdinand Yves Mbarga},
  title = {Study in View of Development of a National Cryptocurrency},
  journal = {American Journal of Computer Science and Technology},
  volume = {3},
  number = {3},
  pages = {46-56},
  doi = {10.11648/j.ajcst.20200303.12},
  url = {https://doi.org/10.11648/j.ajcst.20200303.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajcst.20200303.12},
  abstract = {The study of cryptocurrencies doesn’t clearly propose different approaches that provide cryptocurrency development. The purpose of this paper is to determine approaches to cryptocurrency development, in which we select one to develop a national cryptocurrency that will be able to bring out Cameroun from CFA Franc. Developing a national cryptocurrency or bringing out Cameroun from CFA Franc is a monetary issue which is generalized in the problem of commodity exchange. This problem focuses on how to exchange goods and services while ensuring stakeholder satisfaction. To this end, after a brief literature review on the commodity exchange system, money and Bitcoin, we first explored possible approaches to the development of cryptocurrencies. The study in these approaches has enabled us to determine four different solutions: firstly by token development, secondly by hard fork development, thirdly by fork of source code development, and at last by fork of software development. For each approach, we make a summary presentation which lists its stages of development. The comparison of these approaches in terms of development time, development cost dependence on a blockchain platform and solution to exit from the CFA Franc led us to choose fork of software approach. The fork of software approach of cryptocurrencies development best solves our problem, since it offers us a cryptocurrency development solution, but also proprietary currency which is independent of blockchain platforms. Fork of software is a fork approach that observes behavior of existing software, in view to implementing it again and/or customizing it. We proposed an explorative development method which combines: the iterative and incremental method with evolutionary prototype, for application of the development approach retained above.},
 year = {2020}
}

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TY  - JOUR
T1  - Study in View of Development of a National Cryptocurrency
AU  - Georges Bell Bitjoka
AU  - Bouetou Thomas
AU  - Ferdinand Yves Mbarga
Y1  - 2020/07/23
PY  - 2020
N1  - https://doi.org/10.11648/j.ajcst.20200303.12
DO  - 10.11648/j.ajcst.20200303.12
T2  - American Journal of Computer Science and Technology
JF  - American Journal of Computer Science and Technology
JO  - American Journal of Computer Science and Technology
SP  - 46
EP  - 56
PB  - Science Publishing Group
SN  - 2640-012X
UR  - https://doi.org/10.11648/j.ajcst.20200303.12
AB  - The study of cryptocurrencies doesn’t clearly propose different approaches that provide cryptocurrency development. The purpose of this paper is to determine approaches to cryptocurrency development, in which we select one to develop a national cryptocurrency that will be able to bring out Cameroun from CFA Franc. Developing a national cryptocurrency or bringing out Cameroun from CFA Franc is a monetary issue which is generalized in the problem of commodity exchange. This problem focuses on how to exchange goods and services while ensuring stakeholder satisfaction. To this end, after a brief literature review on the commodity exchange system, money and Bitcoin, we first explored possible approaches to the development of cryptocurrencies. The study in these approaches has enabled us to determine four different solutions: firstly by token development, secondly by hard fork development, thirdly by fork of source code development, and at last by fork of software development. For each approach, we make a summary presentation which lists its stages of development. The comparison of these approaches in terms of development time, development cost dependence on a blockchain platform and solution to exit from the CFA Franc led us to choose fork of software approach. The fork of software approach of cryptocurrencies development best solves our problem, since it offers us a cryptocurrency development solution, but also proprietary currency which is independent of blockchain platforms. Fork of software is a fork approach that observes behavior of existing software, in view to implementing it again and/or customizing it. We proposed an explorative development method which combines: the iterative and incremental method with evolutionary prototype, for application of the development approach retained above.
VL  - 3
IS  - 3
ER  -

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Author Information

Georges Bell Bitjoka

Department of Telecommunications, National Advanced School of Engineering, University of Yaoundé I, Yaoundé, Cameroon
Bouetou Thomas

Department of Computer Science, National Advanced School of Engineering, University of Yaoundé I, Yaoundé, Cameroon
Ferdinand Yves Mbarga

Department of Computer Science, National Advanced School of Engineering, University of Yaoundé I, Yaoundé, Cameroon

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APA Style

Georges Bell Bitjoka, Bouetou Thomas, Ferdinand Yves Mbarga. (2020). Study in View of Development of a National Cryptocurrency. American Journal of Computer Science and Technology, 3(3), 46-56. https://doi.org/10.11648/j.ajcst.20200303.12

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ACS Style

Georges Bell Bitjoka; Bouetou Thomas; Ferdinand Yves Mbarga. Study in View of Development of a National Cryptocurrency. Am. J. Comput. Sci. Technol. 2020, 3(3), 46-56. doi: 10.11648/j.ajcst.20200303.12

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AMA Style

Georges Bell Bitjoka, Bouetou Thomas, Ferdinand Yves Mbarga. Study in View of Development of a National Cryptocurrency. Am J Comput Sci Technol. 2020;3(3):46-56. doi: 10.11648/j.ajcst.20200303.12

Copy | Download

@article{10.11648/j.ajcst.20200303.12,
  author = {Georges Bell Bitjoka and Bouetou Thomas and Ferdinand Yves Mbarga},
  title = {Study in View of Development of a National Cryptocurrency},
  journal = {American Journal of Computer Science and Technology},
  volume = {3},
  number = {3},
  pages = {46-56},
  doi = {10.11648/j.ajcst.20200303.12},
  url = {https://doi.org/10.11648/j.ajcst.20200303.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajcst.20200303.12},
  abstract = {The study of cryptocurrencies doesn’t clearly propose different approaches that provide cryptocurrency development. The purpose of this paper is to determine approaches to cryptocurrency development, in which we select one to develop a national cryptocurrency that will be able to bring out Cameroun from CFA Franc. Developing a national cryptocurrency or bringing out Cameroun from CFA Franc is a monetary issue which is generalized in the problem of commodity exchange. This problem focuses on how to exchange goods and services while ensuring stakeholder satisfaction. To this end, after a brief literature review on the commodity exchange system, money and Bitcoin, we first explored possible approaches to the development of cryptocurrencies. The study in these approaches has enabled us to determine four different solutions: firstly by token development, secondly by hard fork development, thirdly by fork of source code development, and at last by fork of software development. For each approach, we make a summary presentation which lists its stages of development. The comparison of these approaches in terms of development time, development cost dependence on a blockchain platform and solution to exit from the CFA Franc led us to choose fork of software approach. The fork of software approach of cryptocurrencies development best solves our problem, since it offers us a cryptocurrency development solution, but also proprietary currency which is independent of blockchain platforms. Fork of software is a fork approach that observes behavior of existing software, in view to implementing it again and/or customizing it. We proposed an explorative development method which combines: the iterative and incremental method with evolutionary prototype, for application of the development approach retained above.},
 year = {2020}
}

Copy | Download

TY  - JOUR
T1  - Study in View of Development of a National Cryptocurrency
AU  - Georges Bell Bitjoka
AU  - Bouetou Thomas
AU  - Ferdinand Yves Mbarga
Y1  - 2020/07/23
PY  - 2020
N1  - https://doi.org/10.11648/j.ajcst.20200303.12
DO  - 10.11648/j.ajcst.20200303.12
T2  - American Journal of Computer Science and Technology
JF  - American Journal of Computer Science and Technology
JO  - American Journal of Computer Science and Technology
SP  - 46
EP  - 56
PB  - Science Publishing Group
SN  - 2640-012X
UR  - https://doi.org/10.11648/j.ajcst.20200303.12
AB  - The study of cryptocurrencies doesn’t clearly propose different approaches that provide cryptocurrency development. The purpose of this paper is to determine approaches to cryptocurrency development, in which we select one to develop a national cryptocurrency that will be able to bring out Cameroun from CFA Franc. Developing a national cryptocurrency or bringing out Cameroun from CFA Franc is a monetary issue which is generalized in the problem of commodity exchange. This problem focuses on how to exchange goods and services while ensuring stakeholder satisfaction. To this end, after a brief literature review on the commodity exchange system, money and Bitcoin, we first explored possible approaches to the development of cryptocurrencies. The study in these approaches has enabled us to determine four different solutions: firstly by token development, secondly by hard fork development, thirdly by fork of source code development, and at last by fork of software development. For each approach, we make a summary presentation which lists its stages of development. The comparison of these approaches in terms of development time, development cost dependence on a blockchain platform and solution to exit from the CFA Franc led us to choose fork of software approach. The fork of software approach of cryptocurrencies development best solves our problem, since it offers us a cryptocurrency development solution, but also proprietary currency which is independent of blockchain platforms. Fork of software is a fork approach that observes behavior of existing software, in view to implementing it again and/or customizing it. We proposed an explorative development method which combines: the iterative and incremental method with evolutionary prototype, for application of the development approach retained above.
VL  - 3
IS  - 3
ER  -

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