Hello, I am trying to start making an altcoin 100% premined with proof-of-stake as a way to keep it decentralised, and with an implementation of my own idea for coins distribution. There are many howtos about creating altcoins based on litecoin/bitcoin. I would like to ask you guys if you know if there are any major differences and additional steps while forking ppcoin? I thing the main is it’s centralised checkpoint system. What one should consider to learn before attempting to fork ppcoin?
Steps to creating your own altcoin
Get some devs who are knowledgeable who will not only help you create the coin, but also maintain it afterwards. This is where all new coins fail. They fail to attract the proper devs.
Don’t create a coin so you can premine it and get rich and then let the coin fend for themselves later. It doesn’t work. People don’t get rich like that and it is a waste of every one’s time
Don’t show up at a main coin’s forums and ask them how to create your own coin. These forums are here to support and promote Peercoin and Primecoin. They aren’t here as a way to create and promote your own coin.
The world doesn’t need more premined coins, created by some one who wants to be in charge of how they are distributed, but doesn’t have any technical ability on how to create and maintain the coin.
It is true what you said. I have technical skills and I created distribution system. I don’t want to get rich. I have an idea that i think is new in this word and I want to make it into reality. My idea is to create an altcoin with proof-of-stake and distribution mechanism based on referals. The more people you will invite to use the coin, the more coins you will receive. ALL FAIR DISTRIBUTED WITHOUT MINING.
The best advice I can give you is to fork it, and start to read through the code changes. Sunny King has done good job of annotating differences between the Peercoin fork and the underlying Bitcoin source code, so it will be straight-forward for you to identify the sections that changed (usually prefaced by “// ppcoin:”).
Checkpointing is contained within it’s own set of .h and .cpp files, so if you’ve got a background in C++, it will be apparent what the changes were.
Do you have a whitepaper introducing your distribution mechanism? I’m always interested in seeing alternative ways that people have developed to solve this particularly challenging part of cryptocurrencies.
Let me guess. The coin is called PyramidCoin, because it uses pyramid scheme to distribute ? Pyramid scheme tends to let greed bring out so much animosity between friends and family members it is illegal in some part of the world.
My distribution mechanism I could call “Reversed pyramid scheme” where you can get one coin per day by clicking a button on a website. When you let your friend join to this way of distribution, you gain one coin each time he will click a button aswell, and he will gain one coin if you click a button also. More friends you will invite, more coins you will gain each day (if they are clicking a button). You make a work for them aswell so it’s why this I call reversed pyramid scheme. For a safety against abusing the system, one needs to confirm that he is joining to this way of distribution for the first time, to not make fake account. Potential safety mechanisms are SMS confirmation, one ip allowed, even proof of identity in a radical case. Hope you like it.
Allowing only 1 ip limits those users not on a static ip, also what is to stop me registering a second user with my second or third phone?? It’s harder than most think / realise to create a fair distribution
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