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Author Topic: How do you realistically start a blockchain?  (Read 750 times)
dagumak
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September 17, 2017, 05:18:27 PM
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Looking at existing blockchains, there's the actual blockchain that you have to program, devise consensus algorithm, implement the consensus algorithm, create a software for miners to run for nodes, work out the economics of the blockchain, find people to run the nodes, then build the actual application on top of the blockchain for consumption. How does one do all of this?
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paraboul
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September 18, 2017, 06:10:18 AM
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What's your question?

Do you mean, how does one aquire the skill to understand every aspect of the blockchain, from the economic perspective, to the technical aspect?
Probably start hacking into the existing and understand the state of the art.
Kogs
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September 20, 2017, 01:23:35 PM
 #3

Looking at existing blockchains, there's the actual blockchain that you have to program, devise consensus algorithm, implement the consensus algorithm, create a software for miners to run for nodes, work out the economics of the blockchain, find people to run the nodes, then build the actual application on top of the blockchain for consumption. How does one do all of this?

One not meant seriously, but working way is the following:

  • Create a fork from bitcoin github
  • Change some consensus rules with which the core developers are not happy with
  • do big advertisement why your incredible idea is better than what the core developers are doing
  • find followers who also spam social networks to convince people to change from "bitcoin core" to your "bitcoin awesome"
  • do the fork
  • bingo, you have a new altcoin with a big userbase
  • in the best case you also convince merchants, payment processors, exchanges etc. from your idea and just take over the brand "Bitcoin" for you
  • One disadvantage is, that you might not get rich with this idea, because you cannot premine a new currency to give you an advantage over all the other people. But even for that I have an idea for you. Change the consensus rules in that way, so you can redeem Satoshis 1 million bitcoins and send it to an address you control. After all you don't want to start the new currency with at least 1 million burnt or unused coins  Grin

Whoever finds similarities in the past or future, may keep them.
monkeydominicorobin
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September 21, 2017, 06:33:52 AM
 #4

Looking at existing blockchains, there's the actual blockchain that you have to program, devise consensus algorithm, implement the consensus algorithm, create a software for miners to run for nodes, work out the economics of the blockchain, find people to run the nodes, then build the actual application on top of the blockchain for consumption. How does one do all of this?

To answer the question:

1. You don't really do all of this.
2. If you truly have a viable cryptocurrency/blockchain they (the people you mentioned) will come looking for you.
3. They will come building nodes for you. Using their own pockets.
4. They will transact on exchanges to keep your crypto active.
5. An active crypto attracts more users. Thereby more word of mouth.
6. You will expend less and the public will do more to expand the network. They will earn from mining.
7. The network will be upgraded by the public on the software and the hardware side.
8. Which is why it is called the public blockchain.
9. The public will demand reforms on your software.
10. You will yield to their demands
11. That is why private blockchain doesn't exist. Nobody would bother to build it.
12. The way Bitcoin and 400,000 others were built.

tobi4255
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September 23, 2017, 04:36:40 AM
 #5

Its very easy.

Simply clone your own Coin!
There are many guides.

Then put the repository on github.com
and then make a site!

Make an announcement here and your done!

★ ★ ★BTC  ◉PLAY  ◉XMR  ◉DOGE  ◉STRAT  ◉ETH  ◉GRC  ◉LTC  ◉DASH  ◉PPC ★ ★ ★
svenpohl
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September 23, 2017, 07:23:02 AM
 #6

Hi - I agree - forking an existing coin is the best way to create an own coin... but maybe you will not have exactly that features, your coin should be  like to have.

By the way... is here any english native speaker ... I'm looking for a cool native speaker who wants to review a white paper for a blockchain and coin project.
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