Bitcoin Forum

I understand that there are a few tool kits out there for coloured coins which run off of the Bitcoin blockchain, for example, coloured coins, mastercoin and counterparty.

Although I understand that the underlying mechanisms for each are different I am looking to find out more about the variety of custom blockchains and transaction validation rules that can be created with each.

For example:

    1. Could an altcurrency be created using any of these which uses demurrage in the same way that Freicoin does?

    2. Could an altcurrency be created using any of these which destroys coins in the same way that PPC does per transaction?

That's the kind of thing Ethereum promises. We'll see.

Is Ethereum backed by any University's or big businesses? I noticed one of the dev's is a professor.

I'm very sure based on it's initial spec that Ethereum will be able to do this. However it is not a coloured coin on the bitcoin blockchain so I would like to exclude it from the topic of this thread.

Specifically I'm interested in whether coloured coins, mastercoin and counterparty can do this?

[EDIT: I've moved this thread to Development & Technical Discussion as it may be more appropriate there.]

Our approach seems better than colored coin, please check icoinhost.com for detail

Both of those are bad ideas, and they are possible (or will be shortly when better tools arrive).

+1

I'm not advocating demurrage. At first glance it appears egalitarian, but it takes away the power of liquid savings from poor people that can't afford to not have access to funds for emergencies. Rich people can always divert into non-liquid assets and still have liquidity. Colored coins don't need to be destroyed because they can be recolored.

I'm not advocating any of the above. I'm seeing if the block validation rules for coloured coins would allow such processes.

Thanks for clarifying.

https://github.com/OpenAssets/open-assets-protocol/blob/master/specification.mediawiki