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Topic: which variables make my coin unique? (Read 65 times)

member
Activity: 294
Merit: 28
October 10, 2021, 09:03:39 PM
#3
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I was wondering, which variables make my coin unique?
Variables? and to which coin do you mean? The Bitcoin about to be forked or the new version?
If it's the next version,then it's dawned on you; how you would fork it,the instructions you would give and how you want to operate with it.
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In other words, what are the factors that make a bitcoin a bitcoin and a dogecoin a dogecoin?
Fine. Bitcoin mining is limited and there are complicated processes you've got to learn prolly to be able to mine.
It takes alot of time,comsumes power and is somewhat slow for miners at a larger rate
While,dogecoin on the other hand mines faster and unlimitedly,; (miners have developed the new-age mining system and they have also curtailed exothermic reactions from thier mining machines,inshort i don't even think you need a machine to mine dogecoin,an upgraded linux system could do)  Cheesy
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Why can't we transfer money to each other? Because of different Genesis blocks? Ports? File names? Nodes?
Good.!
About these,genesis blocks can be made equal through FORKING;  all of these depends on the instructions and information the nodes carries,it not about the file name though; but you could possibly change these informations to your simple commands by 'forking' bitcoins into your prefered altcoin (this will make your nodes carry your own instructions,either to enable monetary transfer or not)
legendary
Activity: 4466
Merit: 3391
October 10, 2021, 07:07:23 PM
#2
I have a question. I am forking bitcoin to create my own altcoin. I was wondering, which variables make my coin unique? In other words, what are the factors that make a bitcoin a bitcoin and a dogecoin a dogecoin? Why can't we transfer money to each other? Because of different Genesis blocks? Ports? File names? Nodes?

Ultimately, the genesis block and the consensus rules together are what make a coin unique, but coins with different rules can share a genesis block and be unique (BTC and BCH, for example).
newbie
Activity: 10
Merit: 0
October 10, 2021, 06:58:14 PM
#1
I have a question. I am forking bitcoin to create my own altcoin. I was wondering, which variables make my coin unique? In other words, what are the factors that make a bitcoin a bitcoin and a dogecoin a dogecoin? Why can't we transfer money to each other? Because of different Genesis blocks? Ports? File names? Nodes?
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