A system like PHP Shadow might deter the amateur but I suspect that a serious hacker would find a way to break it. Since the code is still there, just encrypted, it has to be de-encrypted in order to run it. At that point it would be vulnerable. I'd rather trust Ioncube where you don't get the original code in any form, just the byte code. But then again, you said you wanted to do it yourself from scratch.
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faroukmuhammad commented: good resource +4
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happygeek commented: good answer +0
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pritaeas commented: If I'd seen this I wouldn't have posted. +13
aphpdeveloper commented: Thanks for the help so far +0