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Newcomer I

Implementation of Bit coin

How to implement own version of bitcoin any reference

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10 Replies
Newcomer I

Re: Implementation of Bit coin

Please be more specific, are you referring to creating your own blockchain coin, or just working with wallets and exchanges using the current bitcoin, or an existing competitor? 

 

If you are just looking to work with bitcoin exchanges and wallets, there are many packages for common languages, I've seen some great ones for PHP. 

 

Creating your own coin is a totally different animal, and I don't really recommend it. The  ICO market has been flooded, and regulation has been of concern. 

 

Hope this helps, 

 

Clint

Newcomer I

Re: Implementation of Bit coin

Thought of creating my own version of blockchain coin for our final year project.

Viewer II

Re: Implementation of Bit coin

It's not a trivial exercise. You'll need to be able to read/write/understand C++ and have a solid grasp of crypto principles, genesis blocks etc.

 

This might help: http://dillingers.com/blog/2015/04/18/how-to-make-an-altcoin/

Newcomer I

Re: Implementation of Bit coin

Hi,

 

Thing is I got one more reference https://www.reddit.com/r/Python/comments/6nxjbt/lets_create_our_own_cryptocurrency/

 

But creating own version of bitcoin just for a project is hectic.

 

So anyone guides me any project topic with reference papers based on Security Areas it may be Cloud computing with information secuirty or Network security Domain

Newcomer I

Re: Implementation of Bit coin

 

Very cool idea, I think you could easily create your own for a school project. First, break down the components and get an idea of whats needed, there are multiple pieces to this solution. It may help to read a few whitepapers on some ICOs to get a feel for the technologies being used and why. From my perspective, this can be accomplished with a REST API for communication, connected to a distributed server-side application that handles the coins and verification. I'd keep that simple at first and focus on implementing the blockchain technologies/methodologies that underly digital currency. How long do you have, is it just you?

 

 

 

 

 

Newcomer I

Re: Implementation of Bit coin

I got 5 Months to implement it, but I'm still searching for IEEE papers, the Front end will be implemented by python what I have decided. But I don't know whether to move forward with that topic or go with another topic until I find proper papers and reference on that.

 

can you help me with that, if not bitcoin any topic idea is fine based on security

Newcomer I

Re: Implementation of Bit coin

Python is a fine language and 5 months is a solid amount of time to get something together, although I'd try to limit the scope.

 

Monero has done a pretty good job creating a secure and anonymous coin given the current cybersecurity landscape. I'd read a bit about them, and the main ways they ensure security/anonymity in their currency, it's quite fascinating.

 

https://getmonero.org/

 

You could look at ways to enhance the cybersecurity of exchanges, or wallets. I think wallets would be a really cool approach, maybe create your own hot wallet system using python and your own cryptography for storing and retrieving coins. It may help to aim to for something you can finish an MVP in 2-3 months, and then refine from there. 

 

If you have more questions feel free to ask. 

 

Clint

 

 

Newcomer I

Re: Implementation of Bit coin

Thanks.

 

Actually I have few questions.

 

1. From Where do I start f?

2.I need some material and reference paper on that ; just need rough how to implement it and what is the procedure.

3. What is the new things I can modify to the existing on

 

It is the same as blockchain right!

Newcomer I

Re: Implementation of Bit coin

I'd first start by getting a thorough understanding of the inner workings of blockchain and of course digital currency. Try and understand how all the pieces of the system interact and what their responsibilities are. 

 

Once you feel comfortable with how everything works, you can then focus on one piece, for instance, the wallet. There are two types of wallets, hot and cold. I'd research both and see if you want to create one yourself, maybe you can create something better than our current options. 

 

You are looking at a newer technology that is not well understood, so there will not be as much in terms of "copypasta" bs. If you break it down, you can do it! It is not that complicated if you limit your scope properly, and you may come out with more than just a school project. My undergraduate senior project may not have been a big success like Facebook or whatnot, but it was definitely a springboard onto the fast track for my career. My advice is to take a few days to research a bit and look for an opportunity to innovate in the space. Don't let it overwhelm you, it sounds like you have some time.  

 

Links to get you started:

A fantastic breakdown of the technology by Professor Lakhani - https://www.facebook.com/HBR/videos/10155160141707787/?hc_ref=SEARCH

This guy has a great podcast with short informative episodes - https://www.b21block.com/