There are many different reasons why you may want to learn how to make a blockchain— you may be building a fintech application, creating a supply chain management solution, making tokenized digital assets, exploring blockchain gaming, or leveraging blockchain for secure records management. Whatever your target use case is, you’ll need to learn how to make a blockchain before developing the perfect solution.
Broadly speaking, there are 4 ways to adopt blockchain technology: you can code a new blockchain protocol from scratch, fork an existing blockchain’s source code, submit code to a single-chain smart contract platform, or you can make a blockchain on a multi-chain platform.
Of course, all of these methods come with their relative merits and drawbacks, but the last option stands out as the superior choice. Launching a sovereign, application-specific blockchain combines the independence of creating a new protocol or forking an existing chain’s source code with the security and programmability of building on a single-chain smart contract platform.
Enter the Antara Composer, a web application that lets you customize and launch a Smart Chain in just minutes. It also lets you add all the extra features and white label products you need to go-to-market quickly.
Komodo is an AWS Advanced Technology Partner so can add full seed nodes and cryptocurrency mining nodes through AWS cloud services. You can choose to protect your Smart Chain with the power of the Bitcoin hash rate with delayed Proof of Work security. Lastly, you can choose to have your coin listed on AtomicDEX, Komodo’s third-generation decentralized exchange application.
While the Antara Composer is still in a beta phase, it’s fully functional and can help you launch your production-ready Smart Chain today. This article will explain how to make a blockchain with Komodo’s Antara Composer.
How To Make A Blockchain
Before designing your Smart Chain, you’ll need to create an account and sign in to the Antara Composer. This will only take a minute and will help keep your Smart Chain project secure. After that, it’s time to begin making your Smart Chain. Check out this video tutorial to watch how to make a blockchain with Komodo’s Antara Composer in real time.
In case you need a little bit more information, this post will break down the blockchain building process, step-by-step, and provide additional details that aren’t covered in the video tutorial. Let’s dive right in.
Step 1: Name Your Smart Chain
First things first— you need to name your Smart Chain. This can be anything you want but it must be fewer than 20 characters.
Step 2: Pick Your Pre-Mine Supply
Next, you need to pick your pre-mine supply. Pre-mine supply, as the name suggests, is the supply of coins generated before your chain’s network is opened up to the public for cryptocurrency mining (or staking). This is not to be confused with circulating coin supply (the total number of coins in existence at a given point in time) or total coin supply (the maximum supply of coins that will ever be created on a particular blockchain).
The total pre-mine supply, whatever you choose it to be, will be created in the very first block of your Smart Chain. The coins will be sent to your personal KMD address, which you will enter in Step 4. Pre-mine supply cannot be greater than 2 Billion.
Step 3: Set Your Smart Chain’s Ticker
Now, your Smart Chain needs a ticker. The ticker is the symbol that will appear when your chain’s coin is listed on market capitalization websites like CoinMarketCap or CoinGecko and when it is listed for trading on exchanges like Binance or AtomicDEX. Your ticker must be only capitalized letters and numbers. It is advised to limit your ticker to four or five characters at the most.
Step 4: Enter Your Personal KMD Address
This is where you’ll enter your personal KMD address, which is where the pre-mine supply of coins you chose in Step 2 will be sent, so it’s crucial to enter your address correctly and to make sure you have that address’s private key or seed phrase backed up.
If you don’t have a KMD address already, it’s easy to generate one by creating a Komodo wallet. Then all you need to do is copy and paste your KMD address. All KMD addresses begin with the letter ‘R’ and are 34 characters in length. Here is an example address:
It’s also important to note that you’re entering a KMD address because you will be able to receive your new Smart Chain’s coins with that address. In fact, you can use one address (along with one private/public key pair) to send and receive coins from any of the chains within the Komodo ecosystem.
So don’t get confused! Your Smart Chain will be completely independent and autonomous from the KMD blockchain and the KMD coin. Your Smart Chain will have its own native currency. You can just use the same address to receive coins from either blockchain.
Step 5: Enter Your Public Key
At this point, you’ll need to enter the public key of the address that you entered in Step 4.
When completing Step 5, you need to enter your compressed public key, which is a 66 character string of numbers and letters. The first two characters of any valid KMD pubkey will be either “02” or “03.” Make sure to enter your pubkey correctly.
If you don’t have your public key and don’t know where to find it, please see this guide to learn how to find your pubkey.
Step 6: Submit Your Logo
Simply upload the logo of your business or project. You must submit your logo in PNG file format and the file cannot be larger than 500 kb of data. Apart from that, the logo can be whatever you want it to be!
Step 7: Add A Brief Description Of Your Smart Chain
In Step 7, you’ll just need to enter a brief description of your Smart Chain project. This will be the boilerplate copy used to describe your Smart Chain on explorers, wallets, exchanges, and other sites and apps that will list your Smart Chain’s coin. It doesn’t need to be lengthy but make sure it’s well written and that it accurately describes your project.
Step 8: Pick Your Privacy Settings
It’s time to choose your privacy settings. You have two options: a fully transparent blockchain or a blockchain with optional zero-knowledge proof transactions.
Zero-knowledge proof transactions, also known as the zk-SNARK protocol, are the most robust form of security available in the blockchain industry at this time. Komodo inherited this privacy technology from the ZCash project, from which Komodo was originally forked.
Now, zero-knowledge proof privacy has been disabled on the main Komodo blockchain but it remains an optional available to all projects that build a Smart Chain with Komodo’s technology.
Note that if you choose public transactions only, zero-knowledge proof transactions will be disabled on your Smart Chain. If you choose public and private transactions, private transactions will be available to users on an opt-in basis. The default option will be transparent transactions but private transactions will be possible for those who wish to make them.
Step 9: Choose Your Consensus Rules
When launching a Smart Chain with Komodo’s technology from the command line, you also have the option to choose your blockchain’s consensus rules. Your chain can be 100% Proof of Work, 100% Proof of Stake, or anything in between.
The beta phase of Antara Composer only supports Proof of Work consensus rules. In future releases, you’ll be able to choose any combination of Proof of Work and Proof of Stake you wish from the Antara Composer web app, just as you can from the command line interface.
Step 10: Choose Your Antara Modules Settings
The Antara Framework is Komodo’s flexible, end-to-end framework for simple and efficient blockchain development. The first layer of the Antara Framework is the Smart Chain layer. The second layer is the Antara Module layer.
Antara Modules are optional, Turing complete plug-ins that come standard with all Smart Chains. In fact, the Antara Module library comes with a number of powerful options— tokens, oracles, stablecoins, instant micropayment channels, trustless price feeds, and much more.
You have three options with regard to Antara Modules: enable modules with cross-chain capabilities, enable modules without cross-chain capabilities, and disable modules altogether. It’s best to activate the modules from launch if you plan on using them to build your blockchain solution.
If you need some guidance on what modules are available, what they do, and how you might be able to use them in your business, contact one of the third-party service providers listed on Komodo’s ecosystem page.
Step 11: Set Your Block Rewards
Now, it’s time to choose your block rewards. This is the number of coins that a miner or staker will earn for mining or staking a block in your Smart Chain. It’s important that you offer block rewards to provide incentive for people to join your Smart Chain’s network, therefore boosting its decentralization and security. At the same time, it’s also important to keep block rewards low enough that your coin will still remain somewhat scarce.
Under the Rewards dropdown menu, you can also adjust the frequency and magnitude of reductions in your Smart Chain’s block rewards, as well as when the block rewards cease completely. For instance, the Bitcoin blockchain block rewards are reduced by 50% every 210,000 blocks. At the time of writing, Bitcoin block rewards are 12.% BTC per block but they will be cut in half to 6.25 blocks in May 2020.
You can customize your Smart Chain’s reductions in block rewards. Perhaps you want them to drop by 75% every 100,000 blocks, and end completely at Block 1 Million. Or maybe you want your block rewards to fall by just 30% every 200,000 blocks until Block 2 Million, when the block rewards stop altogether. Both of these scenarios are possible and can be set with ease. There are literally millions of other options to choose from. You can set these figures to whatever you want.
Step 12: Add Your Extra Features & White Label Products
In Step 12, you have the opportunity to add extra features and white label products that will drastically reduce the amount of time you need to spend on development and greatly accelerate your go-to-market. Here are brief descriptions of all the options you have to choose from:
- Nodes - full seed nodes, provided by AWS, that will increase the decentralization and security of your Smart Chain’s network.
- Mining Nodes - mining nodes that will contribute hash rate to your network. When they mine blocks, they will receive the corresponding block rewards you chose in Step 11.
- Explorer - a block explorer that shows the details of every block in your Smart Chain— when it was mined, which address received the block rewards, all of the transactions contained in each individual block, etc.
- Wallet - a white label multi-asset wallet in which users can store your Smart Chain’s coin. You can choose which other assets the wallet will support. You can also brand the wallet.
- AtomicDEX Listing - a listing on AtomicDEX, Komodo’s third-generation, atomic-swap-powered decentralized exchange. It is still in a beta phase but this is a truly revolutionary product that will change the way digital assets are exchanged and open the doors for the mass adoption of blockchain technology around the globe.
- dPoW - Komodo’s delayed Proof of Work (dPoW) security service, which protects every integrated blockchain with the same level of security as the Bitcoin network.
- SPV Server - simple payment verification (SPV) servers, which will enable “light mode” for your Smart Chain’s coin and allow it to be added to mobile wallets.
All of these features and white label products are essential to nearly every blockchain business. That’s why the Komodo Dev Team made it a priority to make all of them available to all projects that build within the Komodo ecosystem.
No other blockchain platforms offer these types of features and products. Instead, if you build on another blockchain platform, you’re left to your own devices when it comes to doing basic things like making a block explorer, setting up SPV servers. You’ll also have to pay hefty fees to wallet providers and exchanges for them to support or list your Smart Chain’s coin.
Komodo eliminates all of these issues by giving every Smart Chain project the choice to add these additional options from launch, all from within the Antara Composer web app.
Step 13: Pay For Your Smart Chain
Now, it’s time to pay for your Smart Chain. You can pay with fiat currency via PayPal or you can pay with cryptocurrency via CoinPayments. Watch the video tutorial here to learn more about paying with cryptocurrency.
Step 14: Build Your Solution!
Last, but definitely not least, it’s time to build your solution! Using Komodo’s Antara Framework, building any type of blockchain solution or application is easier than ever before. You can code custom Antara Modules or simply use the modules available in the current library. The Integration Layer's open API allows you to connect apps, games, and other programs directly to your Smart Chain.
If you’re a developer, check out Komodo’s recently-updated developer documentation to start building now. Komodo’s technology is open source, free, and permissionless.
Join us as we continue to offer cutting-edge blockchain solutions that accelerate global blockchain adoption.