Can I create a private Bitcoin blockchain?

Abiky

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Quote from: Xester on December 07, 2016, 01:31:38 AM

Yes it is true, when you develop a coins without much knowledge and experience on the matter is very critical. I remembered the developer of pcn, he is not well versed with the source codes and other codes and so what happens is his system is problematic and so he decided to sell his rights as a developer. But aside from being well versed with coded creating a coin entails planning, a roadmap and of course money. Without money and knowledge its hard to develop a coin.

Thanks for the kind and helpful advice. In the meantime, I will just stick to making my own assets within existing blockchains until I get proper knowledge about Bitcoin's technical aspects that would help me understand its source code better and be able to create my own private chain with it sometime in the future.

If you or anyone else, would like to share with me some good resources that would help me understand Bitcoin's code better, then I would greatly appreciate it. I'm always eager to learn more about Bitcoin and other cryptocurrencies.

Xester

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Quote from: Kakmakr on December 02, 2016, 01:20:59 AM

Quote from: Abiky on November 28, 2016, 03:22:30 PM

Quote from: caravina on November 28, 2016, 07:26:59 AM

See this option: https://bitcointalksearch.org/topic/support-create-your-own-powpos-altcoin-005-btc-walletbuilders-983296

Thanks for sharing this useful resource, mate. I've never thought that there would be a service where you could make your own cryptocurrency. Even though this is one option, I prefer to make it by myself in order to learn more about how the Bitcoin source code works and make an altcoin. So far, I am interested into making either a Bitcoin based private blockchain or an Ethereum private blockchain which would be useful for smart contract testing, among many other things.

Another thing I've been looking into is the NXT Monetary System. I like the fact that you can issue your own coins, and make them mineable too without no coding experience or knowledge of the Bitcoin source code.

Well it is fine when everything goes well, but unfortunately you would need some coding knowledge and experience when things goes wrong. You have to remember that you are working with someone else's money and that is a huge responsibility.

Do not even attempt this without a team of good developers with sound knowledge and experience.

Yes it is true, when you develop a coins without much knowledge and experience on the matter is very critical. I remembered the developer of pcn, he is not well versed with the source codes and other codes and so what happens is his system is problematic and so he decided to sell his rights as a developer. But aside from being well versed with coded creating a coin entails planning, a roadmap and of course money. Without money and knowledge its hard to develop a coin.

Abiky

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Quote from: cpfreeplz on December 01, 2016, 09:06:01 PM

Huh? Why not just use testnet? If that's all you're trying to do is tests then I don't see the point in making your own separate chain but hey, do whatever you wish Shocked

I could use testnet for making all the tests I want with BTC, but in this case, I'm looking more into making my own private chain to use exclusively from within my small group of friends.

Quote from: Kakmakr on December 02, 2016, 01:20:59 AM

Well it is fine when everything goes well, but unfortunately you would need some coding knowledge and experience when things goes wrong. You have to remember that you are working with someone else's money and that is a huge responsibility.

Do not even attempt this without a team of good developers with sound knowledge and experience.

Thanks for the helpful advice, mate. BTC's source code looks very complex and difficult to understand, so I would need a team of developers who are willing to help me achieve this. Still, I'm curious to learn more about Bitcoin's source code and if you happen to find useful resources that would help me understand it better, then I would greatly appreciate it. Grin

Quote from: mobnepal on December 02, 2016, 01:28:44 AM

Quote from: caravina on November 28, 2016, 07:26:59 AM

See this option: https://bitcointalksearch.org/topic/support-create-your-own-powpos-altcoin-005-btc-walletbuilders-983296

Coin built by Wallet builders aren't considered good by community, as anyone can deploy their own scam coin by paying small fee to wallet builders.

Quote from: Abiky on November 28, 2016, 03:22:30 PM

Another thing I've been looking into is the NXT Monetary System. I like the fact that you can issue your own coins, and make them mineable too without no coding experience or knowledge of the Bitcoin source code.

I think You can also issue assets/currency with bitcoin blockchain without coding experience;
http://www.multichain.com/
https://www.coinprism.com/
http://coloredcoins.org/

Thanks for sharing these useful resources, mate. These would help me get started with making my own coin, with any knowledge about BTC's code. Still, as I learn more about Bitcoin each day, I'm willing to make my very own crypto currency using either Bitcoin or Ethereum's codebase.

mobnepal

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Quote from: caravina on November 28, 2016, 07:26:59 AM

See this option: https://bitcointalksearch.org/topic/support-create-your-own-powpos-altcoin-005-btc-walletbuilders-983296

Coin built by Wallet builders aren't considered good by community, as anyone can deploy their own scam coin by paying small fee to wallet builders.

Quote from: Abiky on November 28, 2016, 03:22:30 PM

Another thing I've been looking into is the NXT Monetary System. I like the fact that you can issue your own coins, and make them mineable too without no coding experience or knowledge of the Bitcoin source code.

I think You can also issue assets/currency with bitcoin blockchain without coding experience;
http://www.multichain.com/
https://www.coinprism.com/
http://coloredcoins.org/

Kakmakr

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Quote from: Abiky on November 28, 2016, 03:22:30 PM

Quote from: caravina on November 28, 2016, 07:26:59 AM

See this option: https://bitcointalksearch.org/topic/support-create-your-own-powpos-altcoin-005-btc-walletbuilders-983296

Thanks for sharing this useful resource, mate. I've never thought that there would be a service where you could make your own cryptocurrency. Even though this is one option, I prefer to make it by myself in order to learn more about how the Bitcoin source code works and make an altcoin. So far, I am interested into making either a Bitcoin based private blockchain or an Ethereum private blockchain which would be useful for smart contract testing, among many other things.

Another thing I've been looking into is the NXT Monetary System. I like the fact that you can issue your own coins, and make them mineable too without no coding experience or knowledge of the Bitcoin source code.

Well it is fine when everything goes well, but unfortunately you would need some coding knowledge and experience when things goes wrong. You have to remember that you are working with someone else's money and that is a huge responsibility.

Do not even attempt this without a team of good developers with sound knowledge and experience.

cpfreeplz

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Quote from: Abiky on July 01, 2016, 10:10:24 AM

Is it possible to make your own private blockchain within Bitcoin itself? (separate chain) I know that I can do this with Ethereum, but for Bitcoin it has taken me quite some time to figure it out. The private chain would be more like a separate chain to make BTC transactions out of its main chain and test certain capabilities of it. If this can be accomplished with Bitcoin, then it would be great.

Huh? Why not just use testnet? If that's all you're trying to do is tests then I don't see the point in making your own separate chain but hey, do whatever you wish Shocked

gmflash7times

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Quote from: Abiky on November 28, 2016, 03:22:30 PM

Quote from: caravina on November 28, 2016, 07:26:59 AM

See this option: https://bitcointalksearch.org/topic/support-create-your-own-powpos-altcoin-005-btc-walletbuilders-983296

Thanks for sharing this useful resource, mate. I've never thought that there would be a service where you could make your own cryptocurrency. Even though this is one option, I prefer to make it by myself in order to learn more about how the Bitcoin source code works and make an altcoin. So far, I am interested into making either a Bitcoin based private blockchain or an Ethereum private blockchain which would be useful for smart contract testing, among many other things.

Another thing I've been looking into is the NXT Monetary System. I like the fact that you can issue your own coins, and make them mineable too without no coding experience or knowledge of the Bitcoin source code.

NXT is an awesome platform too. Dont know why the price got beat down. I think it may still have a chance.

Abiky

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Quote from: caravina on November 28, 2016, 07:26:59 AM

See this option: https://bitcointalksearch.org/topic/support-create-your-own-powpos-altcoin-005-btc-walletbuilders-983296

Thanks for sharing this useful resource, mate. I've never thought that there would be a service where you could make your own cryptocurrency. Even though this is one option, I prefer to make it by myself in order to learn more about how the Bitcoin source code works and make an altcoin. So far, I am interested into making either a Bitcoin based private blockchain or an Ethereum private blockchain which would be useful for smart contract testing, among many other things.

Another thing I've been looking into is the NXT Monetary System. I like the fact that you can issue your own coins, and make them mineable too without no coding experience or knowledge of the Bitcoin source code.

caravina

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See this option: https://bitcointalksearch.org/topic/support-create-your-own-powpos-altcoin-005-btc-walletbuilders-983296

Abiky

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Quote from: DOGE12321 on August 01, 2016, 07:56:45 PM

I am pretty sure that that is the point; to create a private blockchain. However, it could become very challenging to do on your own.

Yes I have thought about this. That's why it is best to work on this together as a team instead of doing it alone since it is so much work. I have looked into BTC's source code and taking note of each and every detail in order to make my own altcoin. But still, it should not be that complicated to make it a reality. Just my opinion. Roll Eyes

rifat shaheen

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yes it is not such a difficult job so easy but the problem is that i tis too difficutt to maintain it.

DOGE12321

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I am pretty sure that that is the point; to create a private blockchain. However, it could become very challenging to do on your own.

Abiky

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www.Crypto.Games: Multiple coins, multiple games

Quote from: jostorres on August 01, 2016, 03:20:12 PM

I believe already there are lot of developments and projects like colored coins on bitcoin's blockchain. But your requirement sounds somewhat different.
You'd probably best off having an altcoin because the result may be similar to be making an altcoin.

Yeah. At first, I was thinking about making a forked coin out of Bitcoin or Ethereum, but then I've just decided to choose another alt coin which has brought my attention. A hybrid coin would be pretty interesting to test out for my new coin. As for block size, I'm thinking of setting it up to 2MB for scalability. Cheesy

jostorres

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Quote from: Abiky on July 01, 2016, 10:10:24 AM

Is it possible to make your own private blockchain within Bitcoin itself? (separate chain) I know that I can do this with Ethereum, but for Bitcoin it has taken me quite some time to figure it out. The private chain would be more like a separate chain to make BTC transactions out of its main chain and test certain capabilities of it. If this can be accomplished with Bitcoin, then it would be great.

I believe already there are lot of developments and projects like colored coins on bitcoin's blockchain. But your requirement sounds somewhat different.
You'd probably best off having an altcoin because the result may be similar to be making an altcoin.

Abiky

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Quote from: franky1 on July 30, 2016, 08:43:11 PM

Quote from: Abiky on July 30, 2016, 07:27:13 PM

Thanks for your advice. I would prefer to just grab the source code of Bitcoin, compile it and select only the IP addresses from my private group. So it will start from block 0, basically from scratch. This way it would be better for me and my group to test certain capabilities and develop our way towards an almost perfect cryptocurrency. It will be a new altcoin but will be left in the dark for quite some time, because it will run in a private blockchain until it is decided to make it go public.

It will be pretty interesting to see how our little project would go on for the next months. Roll Eyes

your gonna fail instantly..
if you are proposing the end result is to mine "in the dark" for a while before going public.. you are talking about a term called 'pre-mining" and no matter what features your new coin may have, it will instantly be categorized as a shit coin due to you not publicly releasing code allowing the public to start at block 0 at the same time as yourselves.

so if your gonna have a go, have a go. just dont be a simple bitcoin replicant. try something totally different.
and after you have had a play privately.. kill that blockchain data. and release the code publicly so everyone gets a chance to start at block 0. using hopefully some great new features.

here is an idea.. there is big business not so much in the coin creation (code based) but in the physical equipment needed for the block creation (asic machines)

if you want to get ahead of the future. first code a coin that uses 512bit or 1024bit hashing.. and then develop ASICS to do it more efficiently. eventually other coins will use 512/1028 so by you being one step ahead in the physical ASICs race, you can be as good as bitmain..

Thanks for the advice. Of course I won't be releasing the coin that has already been used and tested on the private chain. I know that premined coins usually turn into scamcoins so I will try to make it a fairly distributed cryptocurrency. In the way I see it, it will have a very limited supply, will start from block 0, and it will be a hybrid PoW + PoS coin. So basically, my team will be testing (or playing with) the forked coin in order to make a new one out of it starting from block 0 for everyone to start mining it. This will become a reality after quite some time.

About coding a coin with 512bit or 1024bit hashing seems like a wonderful idea. If my coin could achieve this, it will probably become a success. I'll see what can I achieve with my small team of crypto enthusiasts.

Superbitzz

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yes you can do that there is no doubt about this but the problem is that how will you manage and support financially, i think the developing a para-vat private blockchain is not a problem after developing and then giving a full support to it is problem, it is too difficult to manage it for this you will need a lot of staff member you will need some expert who will give you advise how to manage it in better way and the most important is that it need a lot of spared money for supporting it.

serjent05

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Quote from: Abiky on July 01, 2016, 10:10:24 AM

Is it possible to make your own private blockchain within Bitcoin itself? (separate chain) I know that I can do this with Ethereum, but for Bitcoin it has taken me quite some time to figure it out. The private chain would be more like a separate chain to make BTC transactions out of its main chain and test certain capabilities of it. If this can be accomplished with Bitcoin, then it would be great.

It is possible. if you look in this forum, they are everywhere. But some point in time you will encounter some problem with it unless you really polish the code. And I think there are even procedure on how to clone or create your own blockchain thread here.

franky1

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Quote from: Abiky on July 30, 2016, 07:27:13 PM

Thanks for your advice. I would prefer to just grab the source code of Bitcoin, compile it and select only the IP addresses from my private group. So it will start from block 0, basically from scratch. This way it would be better for me and my group to test certain capabilities and develop our way towards an almost perfect cryptocurrency. It will be a new altcoin but will be left in the dark for quite some time, because it will run in a private blockchain until it is decided to make it go public.

It will be pretty interesting to see how our little project would go on for the next months. Roll Eyes

your gonna fail instantly..
if you are proposing the end result is to mine "in the dark" for a while before going public.. you are talking about a term called 'pre-mining" and no matter what features your new coin may have, it will instantly be categorized as a shit coin due to you not publicly releasing code allowing the public to start at block 0 at the same time as yourselves.

so if your gonna have a go, have a go. just dont be a simple bitcoin replicant. try something totally different.
and after you have had a play privately.. kill that blockchain data. and release the code publicly so everyone gets a chance to start at block 0. using hopefully some great new features.

here is an idea.. there is big business not so much in the coin creation (code based) but in the physical equipment needed for the block creation (asic machines)

if you want to get ahead of the future. first code a coin that uses 512bit or 1024bit hashing.. and then develop ASICS to do it more efficiently. eventually other coins will use 512/1028 so by you being one step ahead in the physical ASICs race, you can be as good as bitmain..

Abiky

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Quote from: franky1 on July 30, 2016, 05:01:32 PM

for testing purposes of bitcoin....
just grab the source code, compile it and only select connections from IP addresses in your private group. this will start off a new chain from block 0 if the other nodes in your private network do not have the 7 years of blockdata.
if you want to start with the 7 years of bitcoins blockchain data be aware. you are automatically hit by the difficulty that comes with it. so trying to create new blocks ontop of the 7 years data privately will take alot of hashing power/time.

if you however start to change the code and mess with things, or create new blocks its no longer "bitcoin code" and would be rejected if you tried to open your private network to the public. in actual fact your new blocks would get rejected and your nodes would simply grab the real bitcoin blocks.. well if your concensus rules have not changed too much to invalidate real bitcoin data.

for testing purposes of new features
just grab the source code tweak it to add new features, compile it and only select connections from IP addresses in your private group. this will start off a new chain from block 0 with 0 difficulty.

Thanks for your advice. I would prefer to just grab the source code of Bitcoin, compile it and select only the IP addresses from my private group. So it will start from block 0, basically from scratch. This way it would be better for me and my group to test certain capabilities and develop our way towards an almost perfect cryptocurrency. It will be a new altcoin but will be left in the dark for quite some time, because it will run in a private blockchain until it is decided to make it go public.

It will be pretty interesting to see how our little project would go on for the next months. Roll Eyes

SeoShark97

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I do not think that this is possible, maybe it's possible if you have some tens of millions of dolars, because nobody will use your wallet, you will need a lot of employees with high skills in cryto coins. I can continue but I think you got what I mean.

Topic: Can I create a private Bitcoin blockchain? (Read 2009 times)