How do you create an altcoin?

[Blindfolded]

Lets go with scrypt sence its easier on CPUs than sha-256

IMO it is a better choice.



What about Difficulty re-target and block rate?

What do you think? Im at a loss here

Really it's your choice.

Litecoin re-targets every 2-3 days.
Mincoin re-targets 2 times a day.
 
Plus how often do you want to find a block?
Every minute... every 10 minutes?

This will directly effect how long it takes to confirm transactions.

Lets re-target every 3-4 days
And find a block every 5 minutes

sounds fun!


How many coins total? and when should the reward be halved?

How about 50 million coins
and it can half every 5 years

are you sure that adds up?

[1713570574]

1713570574

[1713570574]

1713570574

[1713570574]

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[1713570574]

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[WeTradeCoins]

God i wish i had your free time

[pixel]

Lets go with scrypt sence its easier on CPUs than sha-256

IMO it is a better choice.



What about Difficulty re-target and block rate?

What do you think? Im at a loss here

Really it's your choice.

Litecoin re-targets every 2-3 days.
Mincoin re-targets 2 times a day.
 
Plus how often do you want to find a block?
Every minute... every 10 minutes?

This will directly effect how long it takes to confirm transactions.

Lets re-target every 3-4 days
And find a block every 5 minutes

Above posted was edited, quote not up to date

sounds fun!


How many coins total? and when should the reward be halved?

How about 50 million coins
and it can half every 5 years

are you sure that adds up?

Whats wrong with it?

[pixel]

God i wish i had your free time

Yay for being in high school

[wmikrut]

Well, some calculations are needed.
For example... finding a block every 2 minutes - how many would you find after 5 years of mining?

[pixel]

I meant 50 million total coins

The reward will be 25 and that will half every 5 years

[pixel]

Well, some calculations are needed.
For example... finding a block every 2 minutes - how many would you find after 5 years of mining?

I could just stick with the litecoin defualt

[pixel]

I still need some instruction on how to start doing this :/

 

[wmikrut]

It's important to know what those parameters are and how to set them.
What if something goes wrong -- and you want to modify the re-targeting.

It's good to have an understanding of where these parameters live.

[Blindfolded]

It's important to know what those parameters are and how to set them.
What if something goes wrong -- and you want to modify the re-targeting.

It's good to have an understanding of where these parameters live.

+1

[pixel]

It's important to know what those parameters are and how to set them.
What if something goes wrong -- and you want to modify the re-targeting.

It's good to have an understanding of where these parameters live.

+1

Ive been looking around the bitcoin wiki for this info but I have not found any good explanation

[jhd]

Interested topic!!

[Brunic]

This topic is a breath of fresh air. With all the bubble mania, DDoS, the insults and fight everywhere, this is really awesome to see. If a complete noob can make a new coin, it proves easily how the concept of crypto-currencies is brilliant!

[pixel]

Thanks for the interest everyone, it will keep me from giving up .

Ive decided on a 50 coin reward for each solved block and that will half every 4-5 years. As for the total amount of coins i think i'll go with 25 million coins. Does this sound good?

Edit: forgot to mention a re-target of 3-4 days

[Remember remember the 5th of November]

Thanks for the interest everyone, it will keep me from giving up .

Ive decided on a 50 coin reward for each solved block and that will half every 4-5 years. As for the total amount of coins i think i'll go with 25 million coins. Does this sound good?

Sounds genius, something which we have not seen before 

[pixel]

Thanks for the interest everyone, it will keep me from giving up .

Ive decided on a 50 coin reward for each solved block and that will half every 4-5 years. As for the total amount of coins i think i'll go with 25 million coins. Does this sound good?

Sounds genius, something which we have not seen before 

I detect your sarcasm... i think  lol

[wmikrut]

Lol... people will say all kinds of stuff... I like the thought of exploring the settings for a 'fun coin'.

My guess (and please don't shoot me).... is most of what is needed is in main.cpp as far as default settings go.
Someone with a bit more experience will need to chime in on this one:


32   uint256 hashGenesisBlock("0x12a765e31ffd4059bada1e25190f6e98c99d9714d334efa41a195a7e7e04bfe2");
33   static CBigNum bnProofOfWorkLimit(~uint256(0) >> 20); // Litecoin: starting difficulty is 1 / 2^12

59   int64 nTransactionFee = 0;
60   int64 nMinimumInputValue = CENT / 100;

Block Reward
831  int64 nSubsidy = 50 * COIN;

[Brunic]

Hey pixel, I've been looking at the code.

I think I found the maximum quantity of coin, it seems it's a single variable in the src/main.h file, line 35. You also have other interesting variables there between lines 30 and 40.

[wmikrut]

Hey pixel, I've been looking at the code.

I think I found the maximum quantity of coin, it seems it's a single variable in the src/main.h file, line 35. You also have other interesting variables there between lines 30 and 40.

Wow ... it seems like the block reward is hard coded into the cpp file.

[pixel]

And we begin diving into the code, ive got my terminal window open and the git repository cloned Lets go!