Developing Own Alt Coin?

[CaptChadd]

Hi all,

I have been thinking about this for two years and I was wondering how I would go about creating my own Crypto Currency?

I see that there are a lot of alt coins, some of which have failed and some which have managed to carry on.

Can any one point me in the right direction to begin the creation of my own?

This is not for profit but just as this is my hobby and I get fun from learning and creating.

Thanks

[markm]

Hmm. Unthinkingbit simply offered 100 bitcoin bounty* to get DeVCoin built, if I recall correctly. Maybe a few more bounties along the way.

Bitcoins have gone up since then of course, but different folk have different budgets for financing their hobbies.

Haw are you at programming? Familier with C++ ?

Maybe just try to read the source code anyway, even if you haven't programmed in the past. Maybe you will at least be able to figure out some of how they say things in that language and maybe it will all start to make sense. Maybe with a little help from your friend Google...

* Yet nonetheless did most / a heck of a lot of the work himself!

-MarkM-

[CaptChadd]

I have looked all around Google and I am guessing that the learning curve is very steep.

I am not looking for a "How To" guide, just somewhere where I can start to learnt the basic's of alt-coin building and go from there.

[markm]

Re Google, I mean that as you read the source code, Google can help you understand what it says / what it is trying to do, because lots of guides to C++ must be on the internetz somewhere and Google probably knows where.

As to a guide specifically to making Yet Another Altcoin, I suspect it is no accident that such guides are few (as in, maybe non-existent) and far between (as in haven't seen one in quite some time and might not for some time to come).

Maybe the closest thing to a guide was the Multicoin thread, which the forum search might find for you; multicoin was specifically designed to move all the things you'd need to change into the config file to make it easier to change them to use Multicoin to run various different chains just by telling it to use that chain's config-file.

-MarkM-

[CaptChadd]

Would you be interested in getting involved in BQC at all?

[FuzzyBear]

Would you be interested in getting involved in BQC at all?

yes but I lack time and am always jumping at projects it seems

[Sunny King]

Steps of becoming an altcoin operator:

1) Learn to use git/github and build bitcoin/altcoins
2) Manage at least 2 nodes on 2 computers/VM/VPS
3) Bootstrap your own network by changing pnSeed, running with dnsseed disabled, irc seed disabled, and change pchMessageStart
4) Learn to make genesis block and start up network.
5) Change default p2p port and rpc port.
6) Change address version (optional)
7) Remove checkpoints, generate master key(s).
8> Cosmetic changes.

Now you can start playing with various parameter changes. Of course doing any real work from here on would require more skills and understanding of the innerworkings of bitcoin. But if you are just content with a simple clone of bitcoin/altcoins then it's done.

Good luck! 

[proff]

Hi all,

I have been thinking about this for two years and I was wondering how I would go about creating my own Crypto Currency?

I see that there are a lot of alt coins, some of which have failed and some which have managed to carry on.

Can any one point me in the right direction to begin the creation of my own?

This is not for profit but just as this is my hobby and I get fun from learning and creating.

Thanks

Hi Chadd

Glad to see you are excited by this topic!

It does require a lot of specialized knowledge. When you get to the point you are ready to undertake such a task, you will know you know enough. To start on that road, you can start learning topics in cryptography, computer science, programming, and eventually study existing implementations. Years of study and work, really, unless you already have the background.

I am not aware that there are "a lot" of such coins. Also keep in mind that some systems that work well for a small number of users do not scale well to a huge number of users. Anyway to get started, besides bitcoin, you can take a look at Chaum's digital cash and also distributed consensus protocols. If you do that you should get a good survey of the building blocks involved.

[CaptChadd]

Thanks for the help guys. I think at the moment I will try something more basic, like cosmetic changes and go from there. Maybe ending up with forking a coin for the experience.

[SRoulette]

Steps of becoming an altcoin operator:

1) Learn to use git/github and build bitcoin/altcoins
2) Manage at least 2 nodes on 2 computers/VM/VPS
3) Bootstrap your own network by changing pnSeed, running with dnsseed disabled, irc seed disabled, and change pchMessageStart
4) Learn to make genesis block and start up network.
5) Change default p2p port and rpc port.
6) Change address version (optional)
7) Remove checkpoints, generate master key(s).
8> Cosmetic changes.

Now you can start playing with various parameter changes. Of course doing any real work from here on would require more skills and understanding of the innerworkings of bitcoin. But if you are just content with a simple clone of bitcoin/altcoins then it's done.

Good luck! 

Thats a very nice run down Sunny, Expect to see a Roulette coin shortly

[proff]

Cloning or forking bitcoin is completely pointless, since what you get works like bitcoin even if you tweak the parameters slightly.