Developing own blockchain from the scratch - is it worth the effort?

[Slava79]

I have (like most people here I believe) a couple of blockchain ideas I would like to make a reality. I'm a developer and can get stuff done.

My options are:
1. Use existing platform, which allows token creating, smart contracts etc and build upon it.
2. Use existing codebase and create a fork.
3. Implement own solution.

Now consciences of each approach:

1. I will need transactions, many of them. Transactions and smart contracts are coming with fee costs. I would really like to avoid it, as it would drastically lower the adoption of my solution, from my point of view.

2. Sounds like the most sane approach, but I would like to have some very specific functionality built in and the existing solutions, as far as I can see, don't offer it. I could write some plugins and patches etc, but relying on the existing platform which has different purpose just trying to change it to my use case also makes me feel not that happy.

3. A crazy thing to do these days, but the code base could be really small and manageable (I read some of the implementations, NXT for example, there nothing a single person can't comprehend) and I could have all my requirements built in naturally.

What you guys think?

[awazieik]

I have (like most people here I believe) a couple of blockchain ideas I would like to make a reality. I'm a developer and can get stuff done.

My options are:
1. Use existing platform, which allows token creating, smart contracts etc and build upon it.
2. Use existing codebase and create a fork.
3. Implement own solution.

Now consciences of each approach:

1. I will need transactions, many of them. Transactions and smart contracts are coming with fee costs. I would really like to avoid it, as it would drastically lower the adoption of my solution, from my point of view.

2. Sounds like the most sane approach, but I would like to have some very specific functionality built in and the existing solutions, as far as I can see, don't offer it. I could write some plugins and patches etc, but relying on the existing platform which has different purpose just trying to change it to my use case also makes me feel not that happy.

3. A crazy thing to do these days, but the code base could be really small and manageable (I read some of the implementations, NXT for example, there nothing a single person can't comprehend) and I could have all my requirements built in naturally.

What you guys think?

I would go with 2 but it depends on what you want to build. Personally, I believe that using existing  codebase is the best as all you have to do is just improve on the code. I know platforms like 3dcoin and Stellar are creating a platform where developers can build cool dapps without being disturbed about the code. So you can check them and see if your idea can flow with these platforms

[CryptoFanholic]

I have (like most people here I believe) a couple of blockchain ideas I would like to make a reality. I'm a developer and can get stuff done.

My options are:
1. Use existing platform, which allows token creating, smart contracts etc and build upon it.
2. Use existing codebase and create a fork.
3. Implement own solution.

Now consciences of each approach:

1. I will need transactions, many of them. Transactions and smart contracts are coming with fee costs. I would really like to avoid it, as it would drastically lower the adoption of my solution, from my point of view.

2. Sounds like the most sane approach, but I would like to have some very specific functionality built in and the existing solutions, as far as I can see, don't offer it. I could write some plugins and patches etc, but relying on the existing platform which has different purpose just trying to change it to my use case also makes me feel not that happy.

3. A crazy thing to do these days, but the code base could be really small and manageable (I read some of the implementations, NXT for example, there nothing a single person can't comprehend) and I could have all my requirements built in naturally.

What you guys think?

It depends on your idea, for my idea i can go with existing blockchain platforms instead of creating one and getting miner onboard which is a huge task to do atleast in beginning

[Slava79]

What you guys think?

It depends on your idea, for my idea i can go with existing blockchain platforms instead of creating one and getting miner onboard which is a huge task to do atleast in beginning

Good point. But I'm thinking of Proof of Stake implementation. And, won't  own platform be more beneficial in the end?

[hase0278]

What you guys think?

It depends on your idea, for my idea i can go with existing blockchain platforms instead of creating one and getting miner onboard which is a huge task to do atleast in beginning

Good point. But I'm thinking of Proof of Stake implementation. And, won't  own platform be more beneficial in the end?

Own platform would be beneficial in the end after all fixes have been applied since it will be a secure one. Allthough that is the case, it will require more work than usual but looking at the bright side, it can help you show your investors that you are serious in your project by always developing your own blockchain tech. It will also be more unique that way.

[Red-Apple]

is it worth the effort?
it depends on what you are calling "worth"!

for example you can see that Satoshi Nakamoto put a huge amount of work in creating bitcoin from (nearly) scratch. nearly because the idea was out there and there were some tiny tests done already but not a full blown system like bitcoin.
was it worth the effort? Satoshi created a worldwide decentralized payment system aka a currency that did not exist before.

is it worth the effort for you to do the same?
what do you want? if it is to get rich, then probably not because you can get rich by creating some shitcoin fork of bitcoin and calling it bitcoin 2.0 and premine it a lot and dump it on the market.

[Slava79]

is it worth the effort?
it depends on what you are calling "worth"!

for example you can see that Satoshi Nakamoto put a huge amount of work in creating bitcoin from (nearly) scratch. nearly because the idea was out there and there were some tiny tests done already but not a full blown system like bitcoin.
was it worth the effort? Satoshi created a worldwide decentralized payment system aka a currency that did not exist before.

is it worth the effort for you to do the same?
what do you want? if it is to get rich, then probably not because you can get rich by creating some shitcoin fork of bitcoin and calling it bitcoin 2.0 and premine it a lot and dump it on the market.

Creating shitcoin is not an option. I just see no point in forking Bitcoin and do this kind of "innovations", like changing algo to another X12345 or even Equihash. Someone can do good money on this, i think, but my goal is to have a platform, not a currency. So that I can store some specific kind of data on it's blockchain and run some specific dapps, with my programming language of choice.

So I would define "worth" as having, in the long run, sustainable platform for my applications, not depending on 3rd parties in regards of the language it is written in,  transactions fees, possible project abandonments  or quality of code I'm not happy with.

[Flamebellow]

I think it depends on what exactly your project is . If you want to make a token just for a payments within a corporate or local net and it will not provide millions transaction per second you can use a ready to use platform , such as ethereum , waves , etc. But if your project is really massive , you would like to use your own , optimized for it blockchain . Just remember how cryptokitties overload ethereum's network and imagine there are a lot of such "spamy" projects , that would be a network collapse

[Slava79]

I think it depends on what exactly your project is . If you want to make a token just for a payments within a corporate or local net and it will not provide millions transaction per second you can use a ready to use platform , such as ethereum , waves , etc. But if your project is really massive , you would like to use your own , optimized for it blockchain . Just remember how cryptokitties overload ethereum's network and imagine there are a lot of such "spamy" projects , that would be a network collapse

Yep, cryptokitties is the exact example I'm thinking about. I doubt ethereum will handle many of such projects and don't want my application to get stopped because of slow transaction rates or higher fees or something.

And, well, my project is not really massive yet, but everyone has the right for the best hopes? )

[kris679]

If you have a good team and knowledge, and still necessarily a good start-up capital for good advertising so that certainly is worth it!

[Svelto]

It depends on whether your project requires a Blockchain on its own. If you are not developing projects for smart contracts or payment systems, I will suggest you create your tokens on the ETH network.

[Slava79]

It depends on whether your project requires a Blockchain on its own. If you are not developing projects for smart contracts or payment systems, I will suggest you create your tokens on the ETH network.

I need to implement some sort of smart contracts, yes.

[trumper]

I think the way you use to create a coin does not matter much alone, it all depends on your project, so depending on it, all of these ways may be better than other ones.

[Slava79]

I think the way you use to create a coin does not matter much alone, it all depends on your project, so depending on it, all of these ways may be better than other ones.

Well, I think it does matter. Ethereum tokens are used to the day mostly to collect funds, but if you actually want your token to be used by people, the fees could kill it. See https://ethereum.stackexchange.com/questions/33229/costs-for-sending-erc20-token