[GUIDE] How to make your own cryptocurrency using latest Litecoin source (v0.15)

[toolboc]

Over the 2017 Winter break, cryptocurrency hit the mainstream due in part to BTCitcoin reaching a valuation of over $10,000. This created quite a buzz in many tech communities, hacker hangouts, and popular media outlets. Personally, I had always had an interest in creating my own cryptocurrency mostly to earn the privilege of being a creator in the space. I knew that this process would bring me closer to understanding the underlying mechanisms of cryptocurrency in general, and allow me to view and understand the technology from it's operational perspective. You may have your own reasons, but like many other enthusiasts, I really just wanted to see how this stuff really works under the hood.

One of the initial issues and a key motivations for this very article has to do with the lack of information regarding cryptocurrency creation in general, especially when working with modern crytpocurrency codebases. Tutorials exist, although many focus on outdated versions of Bitcoin/Litecoin and often leave out vital information to successfully create an operational clone. Aside from source code, my success was mostly derived using pieces of information contained within the following resources:

Bear's "How to make an altcoin" blog post - http://dillingers.com/blog/2015/04/18/how-to-make-an-altcoin/
Shakezula's "How To Clone Scrypt Based Altcoins" guide - https://drive.google.com/drive/folders/0B82OOXRXzyeadFU2OVdaREk2Y00
Whatthefluxable's "Make Your Own Cryptocurrency" video series - https://www.youtube.com/user/whatthefluxable/feed

As mentioned in the title, we will be working with the latest Litecoin v0.15 release. You may wonder why would anyone want to create a cryptocurrency based on something that already exists? The reality is that "most" cryptocurrencies share at least some form of ancestry with something that came before it. Litecoin began as a fork of bitcoin and there will be many parallels drawn to this fact as we outline the processes for creating your own. Using this codebase as a starting point, we can ensure that we will start off with something at least as good as the origin, with plenty of pre-existing documentation to guide us along the way.

As a result of going through this journey myself, I was able to create my own operational cryptocurrency by the working name "faithcoin" http://faithco.in (Two days after the launch of faithcoin, someone created an ERC20 token by the same name and posted on bitcointalk, please do not confuse yourself with this 'coin' https://bitcointalk.org/index.php?topic=2664744.0). Personally, I created the coin to have something tangible in the cryptocurrency space that I can call my own. It does not really do anything different than the current Litecoin release, other than exist on a wholly different blockchain along with some rebranding and it's own block explorer @ http://blockchain.faithco.in. The contents of this guide will outline everything that I did to create faithcoin in the hope that you are able to use these learnings to create your own cryptocurrency.

For those wishing for a tl;dr; version of this tutorial, you may wish to peruse the Faithcoin commit history starting at commit hash BF2F486 @ https://github.com/toolboc/faithcoin/commits/master

Anyways, here is the full tutorial on "How to Make a Cryptocurrency Using Litecoin v0.15 Source" on Hackster.io.  I hope this guide proves useful to fellow enthusiasts who are looking to create something of their own on this forum:
https://www.hackster.io/pjdecarlo/how-to-make-a-cryptocurrency-using-litecoin-v0-15-source-fb5e82

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[CryptoShade]

Many thanks for sharing this and the tutorial..
Best wishes

[digitalcitizen]

Anyways, here is the full tutorial on "How to Make a Cryptocurrency Using Litecoin v0.15 Source" on Hackster.io.  I hope this guide proves useful to fellow enthusiasts who are looking to create something of their own on this forum:
https://www.hackster.io/pjdecarlo/how-to-make-a-cryptocurrency-using-litecoin-v0-15-source-fb5e82

A few problems with that, coming from changing things around at the start.

For instance:

make[2]: Leaving directory '/home/research/litecoin-0.15.1/src'
make[1]: Leaving directory '/home/research/litecoin-0.15.1/src'
Making all in doc/man
make[1]: Entering directory '/home/research/litecoin-0.15.1/doc/man'
make[1]: *** No rule to make target 'learncoind.1', needed by 'all-am'.  Stop.
make[1]: Leaving directory '/home/research/litecoin-0.15.1/doc/man'
Makefile:747: recipe for target 'all-recursive' failed
make: *** [all-recursive] Error 1


Followed the instructions at hackster.io for a later Litecoin than the Learncoin series on Youtube and Shakezula's guide, but all pointless if you can't get going.  The renaming doesn't catch everything in doc/man, so you have to rename manually etc.

There's actually a massive amount of work to be done in creating a new coin to try out new and interesting things, beginning with trying to prevent an instamine problem, e.g. follow the guide to MIDAS and see if you can hack it into Litecoin's code base, or try Dark Gravity whatever v3.  I would really like to try a slightly different PoW from Bitcoin and enable a few opcodes, add new ones, and try it all out on a testnet.  Just for a start, and change the coin supply and some other parameters.  Then there's mining especially with PoW changes, a pool, block explorer, wallets... if you want to try and go all the way some time.  I don't, but I'd like to hack up Bitcoin or Litecoin and try out a few things I personally find interesting.

Haven't had the time just yet but it's on my to-do list after getting the clone process a bit more automated, trying small things gradually, reading up on BIPs, understanding more of the code, reading good books like Mastering Bitcoin and Jimmy Song's new book on learning Bitcoin by writing code, based on his programmingblockchain.com firehose of info over a weekend for those attending his course.

Well, good luck fellow enthusiasts!

[neonshium]

Anyways, here is the full tutorial on "How to Make a Cryptocurrency Using Litecoin v0.15 Source" on Hackster.io.  I hope this guide proves useful to fellow enthusiasts who are looking to create something of their own on this forum:
https://www.hackster.io/pjdecarlo/how-to-make-a-cryptocurrency-using-litecoin-v0-15-source-fb5e82

-snip-

I don't know how you guys were actually able to compile the code using those tutorial you gave but I have tried everything possible based on the content of that article and I never saw the wallet compiled, always getting a lot of errors even though I did everything the way it was stated, I think you guys have to relook into those article and come up with something better that is going to work even if we have to pay for it.

[digitalcitizen]

Anyways, here is the full tutorial on "How to Make a Cryptocurrency Using Litecoin v0.15 Source" on Hackster.io.  I hope this guide proves useful to fellow enthusiasts who are looking to create something of their own on this forum:
https://www.hackster.io/pjdecarlo/how-to-make-a-cryptocurrency-using-litecoin-v0-15-source-fb5e82

-snip-

I don't know how you guys were actually able to compile the code using those tutorial you gave but I have tried everything possible based on the content of that article and I never saw the wallet compiled, always getting a lot of errors even though I did everything the way it was stated, I think you guys have to relook into those article and come up with something better that is going to work even if we have to pay for it.

I think we sort of assumed a little too much for some people, especially those who have never used a compiler and that sort of thing.  Getting all dependencies installed and exactly where to run commands, a few other bits and pieces to polish it off and get it up and running.

Are you interested in Litecoin or Bitcoin?  I recommend Bitcoin to begin with, it's a bit easier.  It's also much easier to point a cpuminer at it as well and mine away.  I have a cloned Bitcoin I hack on on a VPS and cross-compile my Windows binary, and add my VPS node.  And I use cpu miner on the VPS to mine.

It's a bit hard to compile and run on Windows compared to Linux.  Either Cygwin or MingW with all dependencies (MingW 64-bit is better, use pacman -Ss to search for packages) and you can try WSL and install the Ubuntu 18.04 LTS app from the Windows app store if on Windows 10.  That just makes it a lot easier.

I'm working on a few guides for making alt-coins, and a little more on the end about hacking on the code and hard forks of coins where your chain goes off elsewhere after a certain block height but the difficulty readjusts down so you can actually keep mining and see what happens.  I'll post back when I have it ready; I'm working with a few others.

That aside, what specifically did you have problems with?  Can you give an example?  That would be useful to try and give some better help.

[moijiashiasei]

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