Archives for Sh1t
Walletbuilders
A well-known Walletbuilders service will automatically make a coin for you, a free one that only includes Linux and Windows node executables, or for BTC they will let you create a custom one, with your own signage, block parameters, Scrypt PoW and PoS that takes over, after so many blocks, etc. Pre-mine is an option. A seed service for your coin is included on their site, and perhaps a month of hosting a node. Additional hosting is BTC / month. They deliver with the paid coin product pre-compiled Windows and Linux executables for both a node (daemon) and a Qt GUI client. A unique pair of ports that they assign, is used to distinguish your network. Included source code does produce the two…
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.
Free – Cryptocoin Creator and Build-a-Coin
site prizes itself on having created some 1300 coins. And it's possible, as it appears that they do stamp them out for free - if you don't ask for source code or the ability to run it on your own server. If you want those, as any reasonable Altcoin creator would, you are told to email for a quote for a Commercial License. The site itself went through a couple of attempts at a sale on Flippa a year ago - unsuccessfully. Its SSL certificate is expired, and that's why Chrome labels it as Not Secure. Overall, it does not appear recently maintained and does make silly statements, like the fact that it features Elliptic Curve signing, something that all Bitcoin…
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.