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Author Topic: Questions about chainparams  (Read 921 times)
uycoin
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November 28, 2013, 12:07:29 PM
 #1

Hello,

Questions about chainparams:

1- Currently is running the CDN Seed in bitcoin ?
2- https://github.com/TheBlueMatt/dnsseed-bitcoinj/ -> Communication is by socket and generates a database file? There are other alternatives?
3- I do not understand what is vAlertPubKey -> https://github.com/bitcoin/bitcoin/blob/master/src/chainparams.cpp#L110
4- I do not understand what is nSubsidyHalvingInterval -> https://github.com/bitcoin/bitcoin/blob/master/src/chainparams.cpp#L114
5- bnProofOfWorkLimit refers to the difficulty? we can estimate the difficulty of the coming years based on this number.?

I have doubts about this:

6- Build the genesis block -> https://github.com/bitcoin/bitcoin/blob/master/src/chainparams.cpp#L116
7- Convert the pnSeeds array into usable address objects. -> https://github.com/bitcoin/bitcoin/blob/master/src/chainparams.cpp#L154

When I understand this, I will incorporate several concepts about the operation of bitcoin.

I'd like to do a project, to experiment with an alternative currency, with my own settings and genesis block.

Thank you,

UyCoin: Decentralized electronic currency for Uruguay. ( sign: § - code: UYC or XUY )
Study Project. Not an alternative currency for use today.
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November 28, 2013, 07:30:48 PM
 #2

I can answer a couple of these.

(3) The Bitcoin developers have the ability to send urgent alerts to the network, in the case that e.g. there's a zero-day exploit where people need to upgrade immediately. These messages are signed with a key held by the developers. vAlertPubKey is the public component of that key, so that clients can tell that this is actually an urgent alert from the developers, and not someone just trying to spam the network.
(4) Bitcoin starts out with a mining reward of 50BTC per block. After nSubsidyHalvingInterval blocks, this reward halves. After another nSubsidyHalvingInterval blocks, it halves again. Thus, the number of bitcoins in circulation asymptotically approaches 50*nSubsidyHalvingInterval*2.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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