I noted today that coingen.io makes it easy to make crypto currencies. I was wondering if it makes sense to register currencies named after countries, gods and companies to hoard them. AFAIK there is nothing that ensures uniqueness of the names of the crypto currencies, right ? there is nothing in the block-chain that critically depends on the name of the currency.

  • Can two cities have the same name? – zaph Jan 7 '14 at 12:10

What keeps coins distinguished is primarily the protocol and secondarily the genesis block.

If someone tries to copy bitcoin exactly using the exact same source only with a different name, all of the users will simply be part of the bitcoin blockchain.

If someone tries to use the same protocol but with a different genesis block then a new bitcoin ripoff has begun.

If someone tries to use the same genesis but with a different source code, the results will depend on the protocol, but most likely it will simply be a fork.

All of the 1st generation alts use variations on the bitcoin source code and have new genesis blocks.

A new protocol and a new genesis block are the best ways to ensure a new coin.

  • good answer. if you ever wanted to know how it is done. here's a "how to copy+paste" clone guide (you really dont even need to know c++, just how to copy and paste) devtome.com/doku.php?id=scrypt_altcoin_cloning_guide – Joe White Jan 7 '14 at 7:03
  • @Thinker No problem! – user5107 Jan 7 '14 at 14:44

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