Komodo Tutorial - Creating Your Own Asset Chain
How to Create Your Own Asset Chain
The following tutorial will enable new users of Komodo to launch their own asset chain using the Komodo platform. Upon completion of these steps, the user will be in possession of a newly created blockchain and its associated cryptocurrency with parameters of their own design. Additional tutorials will follow this document that outline the various applications and methods of use for your new blockchain.
Disclaimer: This document is intended for use by experienced computer and network administrators. It is assumed that the user of this guide has a working knowledge of Linux and Command Line Interface (CLI) tools.
Prerequisites for Implementing a New Asset Chain on the Komodo Platform
The following requirements must be met prior to beginning this process. If at any time there are questions that arise which you cannot find answers to in the text of this document, please contact Komodo support:
For Komodo Partners:
https://support.komodoplatform.com/support/home/For Chainmaker Clients:
Email:
support@chainmakers.coNew users must have two Virtual Public Servers (VPS) with public IP addresses. Recommended sources for obtaining a VPS include but are not limited to:
http://www.digitalocean.com/http://hetzner.co.za/https://abacohosting.com/ (accepts Bitcoin and Bitcoin Cash)
https://www.bacloud.com/en (accepts Bitcoin and Bitcoin Cash)
Vps servers must meet the following minimum system requirements:
At least two CPU Cores (2 Virtual CPU Cores are acceptable)
Minimum 4 GB of RAM
64-bit Linux Operating System (Ubuntu 16.04 recommended)
Step by Step Instructions
Step One: Build Komodo on Both VPS Servers
To build Komodo you need to install the following dependencies:
sudo apt-get install build-essential pkg-config libc6-dev m4 g++-multilib autoconf libtool ncurses-dev unzip git python python-zmq zlib1g-dev wget libcurl3-gnutls-dev bsdmainutils automake
After installing dependencies clone the Komodo repository:
cd
git clone
https://github.com/komodoplatform/komodocd komodo
After moving to the new Komodo directory execute the following commands to build Komodo:
./zcutil/fetch-params.sh
./zcutil/build.sh
Repeat all of Step One for your Second VPS.
Step Two: Create Your Own Asset Chain
Execute the First Komodo Daemon
You will now initiate the new asset chain on your primary VPS, which will become the seed node for your network.
In your primary VPS, change the directory to ~/komodo/src/:
cd
cd komodo/src
Execute the following command in the terminal:
./komodod -ac_name=ASSETCHAINNAME -ac_supply=SUPPLYOFCOINS -addnode=PUBLICIPOFPRIMARYVPS -gen
ASSETCHAINAME should be in capital letters and will be the ticker symbol that you intend to use in the future for trading coins generated by your asset chain (Example: Komodo's ticker is KMD).
SUPPLYOFCOINS determines the total supply of coins that your new asset chain will contain. This number should be entered as a whole number with no decimal places or commas.
Verify that the IP address of your primary VPS server (the machine you are currently using) is input correctly in place of PUBLICIPOFPRIMARYVPS.
Your primary VPS server is now deployed and you have created the basis for your new asset chain. Next we will move on to the secondary server, which will be responsible for the initial mining activity on your newly created asset chain.
Step Three: Activating Your Secondary Node to Mine Your New Asset Chain
In your secondary VPS, change directory to ~/komodo/src/:
cd
cd komodo/src
Execute the command for running the second daemon:
./komodod -ac_name=ASSETCHAINNAME -ac_supply=SUPPLYOFCOINS -addnode=PUBLICIPOFPRIMARYVPS -gen
Verify that the ASSETCHAINNAME exactly matches the name you used when setting up your primary VPS.
Verify that the SUPPLYOFCOINS exactly matches the parameters used when creating the asset chain in your primary VPS.
Verify that the IP address of your primary VPS server is input correctly in place of PUBLICIPOFPRIMARYVPS.
Step Four: Access Your Coins
In the terminal of your primary VPS, enter the following command string to verify that the asset chain is running and is mining blocks:
./komodo-cli -ac_name=ASSETCHAINNAME getinfo
To send coins to an external wallet, enter the following command string:
./komodo-cli -ac_name=ASSETCHAINNAME sendtoaddress <ASSETCHAINADDRESS> <QUANTITY>
ASSETCHAINADDRESS is the address of an Agama wallet. The Agama wallet will need to first be configured by the Chainmakers team to be able to accept deposits of the new cryptocurrency. Contact Chainmakers at
support@chainmakers.co for assistance with configuring the Agama wallet to be compatible with your new asset chain.
You have now completed the deployment of your new asset chain. Additional documentation regarding use and management of your asset chain can be found at:
https://support.komodoplatform.com/support/homeStep Five: Connecting Nodes to Your Asset Chain
Additional nodes that need to use the same asset chain will connect to the first node which spawned the asset chain. Client nodes can be implemented by use of the following Komodo daemon command:
./komodod -ac_name=ASSETCHAINNAME -ac_supply=SUPPLYOFCOINS -addnode=PUBLICIPOFPRIMARYVPS
For example, the first node which spawned this new Asset Chain (EXAMPLECHAIN) had a public static IPv4 address of: "123.123.123.123" and EXAMPLECHAIN has a supply of 1,000,000 coins. The command for nodes connecting to this asset chain will look like this:
./komodod -ac_name=EXAMPLECHAIN -ac_supply=1000000 -addnode=123.123.123.123
Step Six (Optional): Secure Your Asset Chain with Delayed Proof of Work
You can further secure your new asset chain by employing Notary Nodes provided by the Komodo network.
These nodes will notarize your asset chain blocks to the Komodo network. Since the Komodo network is secured with DPoW by notarizing its blocks onto the Bitcoin blockchain, client asset chains inherit that security via Komodo.
To implement Notary Nodes on your new asset chain, contact Chainmakers via email at:
support@chainmakers.coNote:
New parameters in assetchain creation:
-ac_reward= <satoshis>
-ac_reward is the parameter to establish the block reward for the assetchain. It needs to be represented in satoshis, so if you want a block reward of 100 coins the satoshi expression looks like: 1000000000.
-ac_end=<endheight>
"Endheight" refers to the number of blocks that will have reward.
If -ac_end=100000, -ac_reward will go down to 0 from block 100001 and on. If no -ac_reward is set but a -ac_end does, the reward will be 0.0001 until endheight is reached.
-ac_halving=<halvingperiod>
if -ac_halving=<halvingperiod> is set, then every <halvingperiod> blocks the block reward is reduced according to one of three methods:
if -ac_decay is not set, then the normal bitcoin halving is done.
if -ac_decay=<numerator> is set to be exactly 100000000, then the -ac_reward is scaled linearly toward 0, with 0 at endheight.for all other values of numerator (less than 100000000) the reward is iteratively reduced by the number of "halving" periods, ie.
for all other values of numerator (less than 100000000) the reward is iteratively reduced by the number of "halving" periods, ie. numhalvings = (height / -ac_halving); for (i=0; i<numhalvings; i++) reward = (reward * -ac_decay) / 100000000;
if -ac_perc=<satoshis> is nonzero and less than equal 100000000 and -ac_pubkey=<secp_pubkey33> is set to a 33byte hexstr (len 66 starting with 02 or 03) then the txfee is increased by the commission rate indicated by -ac_perc, with 100000000 being the max of 100%. wallets will need to be customized to make sure to pay the -ac_perc of transaction size as txfee. chains with a percentage override can only be mined by the -ac_pubkey address
EXAMPLES
For a coin with a mining schedule exactly like BTC it should be
komodod -ac_name=<ASSETCHAIN> -ac_reward=5000000000 -ac_halving=210000
For a chain with the mining schedule as KMD
komodod -ac_name=<ASSETCHAIN> -ac_reward = 300000000 -ac_end=7777777
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