Archives for Cryptonote
CryptoNight, CryptoNote, and Monero
In looking further, it turned out that CryptoNight is a hashing algorithm used for PoW of the CryptoNote protocol-based coins. The most famous of the bunch is Monero, but the list also includes Bytecoin, Dashcoin, and dozens more. One review points out that "Monero is a time proven and reliable crypto beloved by the Darknet." I'm going to leave it at that and move on to coin types that have more general appeal, with better-studied algorithms and widely tested implementations.
Blockchain Dynamics
We learned a lot about Altcoins by listening to the Blockchain Dynamics podcast. They have a forum on Cryptopia. The hosts, Brandondoge and Jookly, often sneer at “another Scrypt coin or a Cryptonight clone” and chuckle at what comes out of the Walletbuilders service. And they praise some “good miner coins”. Not sure what they meant by all that, we asked them in the forum. So, the Blockchain Dynamics hosts took good five minutes to review the Practice Coin announcement, starting around 59-minute mark. They have expressed a number of doubts and concerns about the project, like its incremental value or longevity. Will have to dig in and address them all, going forward.
Beginnings
Welcome to Practice Coin. This was our first post on the infamous Bitcointalk, announcing the project: So, I'm jealous. Everyone seems to have an Altcoin these days, so I want one too. But I don't know how to do one, and it seems like when somebody asks about it, they are told to "clone this or that" or given all kinds of random or obsolete advice, perhaps by folks who never done a coin themselves. Some say that Altcoins is a stupid idea Or describe how to do it in X easy steps There are some docs from Shakezulu floating around, from a few years back Now, I know that there are people out there who'll do one for a…