CoinBlock is an open source blockchain platform which allows anyone to create and trade crypto assets (colored coins). CoinBlock colored coins run on top of another blockchain & therefore new coins are not generated by mining. Instead, coins are created based on the result of voting events conducted on the blockchain. CoinBlock assets are defined with an inflation rule & event resolution rule which determine exactly how events are resolved and how many coins are generated and given to the winners.
Currently the inflation rules supported are:
Zero inflation - Good for representing ownership of real world assets & for shareholder voting.
Linear inflation - Good for prediction markets & strategy games
Exponential inflation - Good for prediction markets & strategy games
You can get started on CoinBlock either by signing up for a web wallet account via
CoinBlock.org (easy) or by
installing the CoinBlock app on your own computer (more secure / decentralized).
To install CoinBlock, first install any proof of work blockchain such as Bitcoin or Litecoin. CoinBlock requires you to run a full node, so please remember to set txindex=1 in your coin.conf. Then install the CoinBlock web app and sync it with your blockchain. After setting up your node, import game definitions for the assets that you wish to use.
To create your own colored coin, create a game definition using the CoinBlock GUI & then share this definition with others.
Some CoinBlock games are entirely decentralized whereas others require some centralization. In strategy games such as
Mock Election 2016, some centralization is employed in the form of an escrow address. Players can buy in by sending bitcoins/litecoins to the escrow address, and can sell out by sending colored coins to the escrow address.
For more information, please read the
CoinBlock whitepaper, visit
CoinBlock.org or check out the
CoinBlock web app on github.
