Can I generate my own coin based on ARKchain?Just like anyone can build an ERC20 coin on Ethereum?
Better then Ethereum, you can generate your own chain which will be connected to ark chain, other ark's chains and external chains trough ACES. For example if you want to create a game like cryptokitties you will just fork and add arkVM to your chain, you will have a cryptokitties chain but without clogging ark main chain because it's on a separate blockchain.
It's too soon to talk about fees etc....arkVM and push button are not 100% complete but they're almost here and I'm sure that ark's devs will give us all the answers we need
This looks really exciting

We are expecting Ark to lead next generation? I hope it will not be too late.
Why is it better than for example Lisk or Waves?
Lisk deployable blockchain app, Lisk don't have a working product and probably will never be. It is like throwing them billions of dollars and asking a group of scammers kids to code something like Google Android OS. I think the purpose of Lisk is destroying Crypti and them both already achieved it, nothing more to it.
Waves is just too generic boring and mainly just a Russian thing, what that mean is it marketing and focus to mainly Russian crowd whose don't have much money to play.
Just my view.