*** Complete Guide on How to Create a New Alt Coin ***

[hsnbrg]

Hi.

I just have a quick and easy question. How can I get premined coins by modifying this code?

Thanks.

[glerant]

Hi.

I just have a quick and easy question. How can I get premined coins by modifying this code?

Thanks.

If you have to ask a question like this you are better off availing yourself of Hazard's services yourself.

[hsnbrg]

Thanks.

I'm already using Hazard's solution.

But I want to learn how the system works. So my question is still relevant. What is a good way if I want to have premined coins?
I can set difficulty target and emission speed factor to as high/low I want before the necessary coins are mined. However in this case I'd still need to mine technically.
What I'm interested in, is what I should modify to avoid mining in terms of premine.

Thanks.

[CraigWrightBTC]

It is great tutorial, unfortunately i still don't understand about c++ programing language although i have learned about it, the problem will from the codes and algoritm, and i think it will need time more than two hours. Thank you so much it is nice informations.

[glerant]

Thanks.

I'm already using Hazard's solution.

But I want to learn how the system works. So my question is still relevant. What is a good way if I want to have premined coins?
I can set difficulty target and emission speed factor to as high/low I want before the necessary coins are mined. However in this case I'd still need to mine technically.
What I'm interested in, is what I should modify to avoid mining in terms of premine.

Thanks.

The easiest way if you are using a Bitcoin clone is to 'instamine' the first few blocks by having grotesquely large rewards  - I think I am right in saying. I don't think you can avoid doing this whatever proof you are using to validate blocks unless you substantially change the code. Then you need to update the checkpoints before releasing the node software. If you have plenty of time you can do this over a few hundred or thousand blocks - the key is to be honest about this in your ANN as the emmission parameters will be obvious to even casual users with access to the source code.

[Weatherby]

thanks for the detailed guide ,i want to learn about these in detail and i will look into this on how things work as i am seeing many scrypt coins i have to understand the basics in finding out scammers just copy pasting the original source ,i am not an expert in c++ but i will try to experiment with it

[Oilacris]

Quiet interesting because these thing came to my mind way back then when my curiosity about altcoin and actually made a question on my mind on how to create one, and I already assumed it would be a difficult one. As I've read on op, I could say it's really hard and I'm not mistaken, I'm not too good on c++ language but theres many things should be done in able to create one. I would study these steps though..thanks for this

[hsnbrg]

Thanks.

I'm already using Hazard's solution.

But I want to learn how the system works. So my question is still relevant. What is a good way if I want to have premined coins?
I can set difficulty target and emission speed factor to as high/low I want before the necessary coins are mined. However in this case I'd still need to mine technically.
What I'm interested in, is what I should modify to avoid mining in terms of premine.

Thanks.

The easiest way if you are using a Bitcoin clone is to 'instamine' the first few blocks by having grotesquely large rewards  - I think I am right in saying. I don't think you can avoid doing this whatever proof you are using to validate blocks unless you substantially change the code. Then you need to update the checkpoints before releasing the node software. If you have plenty of time you can do this over a few hundred or thousand blocks - the key is to be honest about this in your ANN as the emmission parameters will be obvious to even casual users with access to the source code.

Thanks. Helped a lot.
One more thing:
When you checkpoint your premined blocks, are they need to be matured already? I need to wait 40-50 blocks to be mined, to make my first 2-3 blocks matured before checkpointing them?

Thanks

[Ebrelus]

Really nice. That's the right direction to go. Blockchains for the people.

BTW Soon after launch of HEAT it will be also possible to easily get own fully operational crypto creating original side blockchain existing independently with other blockchains on existing network and throu it's wallet (no programming konwledge needed). Hopefully competition will help in rise of new original projects.
Now we need only smart people with good ideas for new innovative coins and meaningful useage of such blockchains. Possibilities are endless, you just need to notice them around you.

[electronicash]

Really nice. That's the right direction to go. Blockchains for the people.

BTW Soon after launch of HEAT it will be also possible to easily get own fully operational crypto creating original side blockchain existing independently with other blockchains on existing network and throu it's wallet (no programming konwledge needed). Hopefully competition will help in rise of new original projects.
Now we need only smart people with good ideas for new innovative coins and meaningful useage of such blockchains. Possibilities are endless, you just need to notice them around you.

or it could go awry. a determined scammer can create a coin of his own and scam the users leaving the other coin team with nothing to compete about for the investors money are already taken by an anonymous scammer who create a smart innovative and use of blockchain.

[Konda90]

hi guys,
i'm trying to build a new altcoin just for demostration.

i'm stuck at this point

4.  Change parameters, all in main.cpp:
   - block value (in GetBlockValue())
   - block time (right after GetBlockValue())
   - diff retarget time (right after GetBlockValue())
   - adjust the diff retarget scale to avoid instamine (in GetNextWorkRequired())

i opened main.cpp and found GetBlockValue() but all i can see is this:

bool LoadBlockIndex()
{

    // Load block index from databases
    if (!fReindex && !LoadBlockIndexDB())
        return false;
    return true;
}

anyone can help me?
thanks

[hetecon]

hi guys,
i'm trying to build a new altcoin just for demostration.

i'm stuck at this point

4.  Change parameters, all in main.cpp:
   - block value (in GetBlockValue())
   - block time (right after GetBlockValue())
   - diff retarget time (right after GetBlockValue())
   - adjust the diff retarget scale to avoid instamine (in GetNextWorkRequired())

i opened main.cpp and found GetBlockValue() but all i can see is this:

bool LoadBlockIndex()
{

    // Load block index from databases
    if (!fReindex && !LoadBlockIndexDB())
        return false;
    return true;
}

anyone can help me?
thanks

If you are stuck, then do everyone a favor and give up.

[mikehersh2]

This is very helpful, thank you! I was thinking of designing a coin with my friend. It will be tough to get it off the ground though.

But overall, very well put together guide

[adhitthana]

Most wont read this and be like...  Why isn't my coin worth more?  Look at the feathercoin idiots.

lol, I still don't get why bitcoin worth more, everything is created from nothing, and it worth nothing. 

Satoshi Nakamoto had a magic wand
https://www.youtube.com/watch?v=VKRAY3t1L-o

[jonnytracker]

a coin that can be compiled in visual studio 2015 or C# pos coin

[tearodactyl]

There is a noob Altcoin project named Practice Coin. In the process of reviewing coin types, coin building services, guides and tutorials.
In the end will make and launch our own coin.
https://bitcointalk.org/index.php?topic=1850047.0
  Tearo

[qu4rtex]

Hello,

Very nice post, congrats! Just one dumb question, sorry I'm new to Cryptocurrency...
After the creation of the new coin, how should you start injecting money to the network?
The starting coin ballance should start in an wallet and being transferred to other participants?
Would be possible having such thing as a "Central Bank" to issue money?
How should this could be accomplished?

Thanks
Q
 

[aleddr]

Hello Friends!!!

Following this guide and trying to compile my coin in windows i get this error msgs:

g++ -Wl,--large-address-aware -static -static-libgcc -static-libstdc++ -Wl,-s -mthreads -Wl,-subsystem,windows -o release\Coin-qt.exe object_script.Coin
-qt.Release  -L"c:\Qt\4.8.5\lib" -lmingwthrd -lmingw32 -lqtmain build\bitcoin-qt_res.o -LC:/deps/miniupnpc -lminiupnpc -liphlpapi  -lshlwapi -LC:/deps/boost_1_5
5_0/stage/lib -LC:/deps/db-4.8.30.NC/build_unix -LC:/deps/openssl-1.0.1j -LC:/deps/qrencode-3.4.4/.libs -lssl -lcrypto -ldb_cxx -lws2_32 -lshlwapi -lmswsock -lo
le32 -loleaut32 -luuid -lgdi32 -lboost_system-mgw47-mt-sd-1_53 -lboost_filesystem-mgw47-mt-sd-1_53 -lboost_program_options-mgw47-mt-sd-1_53 -lboost_thread-mgw47
-mt-sd-1_53 -lboost_chrono-mgw47-mt-sd-1_53 -lQtGui4 -lQtCore4
C:/mingw32/bin/../lib/gcc/i686-w64-mingw32/4.9.2/../../../../i686-w64-mingw32/bin/ld.exe: cannot find -ldb_cxx
C:/mingw32/bin/../lib/gcc/i686-w64-mingw32/4.9.2/../../../../i686-w64-mingw32/bin/ld.exe: cannot find -lboost_system-mgw47-mt-sd-1_53
C:/mingw32/bin/../lib/gcc/i686-w64-mingw32/4.9.2/../../../../i686-w64-mingw32/bin/ld.exe: cannot find -lboost_filesystem-mgw47-mt-sd-1_53
C:/mingw32/bin/../lib/gcc/i686-w64-mingw32/4.9.2/../../../../i686-w64-mingw32/bin/ld.exe: cannot find -lboost_program_options-mgw47-mt-sd-1_53
C:/mingw32/bin/../lib/gcc/i686-w64-mingw32/4.9.2/../../../../i686-w64-mingw32/bin/ld.exe: cannot find -lboost_thread-mgw47-mt-sd-1_53
C:/mingw32/bin/../lib/gcc/i686-w64-mingw32/4.9.2/../../../../i686-w64-mingw32/bin/ld.exe: cannot find -lboost_chrono-mgw47-mt-sd-1_53
collect2.exe: error: ld returned 1 exit status
Makefile.Release:299: recipe for target 'release\Coin-qt.exe' failedmingw32-make: *** [release\Coin-qt.exe] Error 1

For i can see it seems a problem with the mgw47-mt thing 

Please help!

Ale

[tearodactyl]

which version of litecoin should we download??
there are 199 release in litecoin
i am not able to find all code/parameters in litecoin, that should be changed as per your instructions given in post.

The location of the blockchain parameters has been moved in the recent codebases. All the instructions and guides dating back from 2014 have become obsolete, for Litecoin releases based off Bitcoin 0.13 and later.
Cloning methods for the recent Litecoin version is a work-in-progress, a part of our learning process at the Practice Coin project https://bitcointalk.org/index.php?topic=1850047
  Tearo

[YarkoL]

You can always use older versions of the sources
and then the old guides will work - sort of, there are sometimes
intentional blanks and errors. But you ought to have some
understanding of what you are doing anyway. That is, you need a basic
knowledge of C++ and programming, otherwise you will
get stuck time and again.

The drawback in the older versions of the software is that they
may have security issues, so they're not fit for production
(launching your own coin) but for the learning purposes they are just fine.

In fact, for learning, the earlier the source, the better.