Oh well, is there any other benefits on the technical side by introducing MSC as the middle coin between higher level protocols and blockchain? such as cleaner, easier to implement, or making it easier to support more sophisticate protocols in the future, etc.
I'm curious because if there's no real benefit of it why counterparty, a similar project, opt to burn the donation seed. It sounds less like they do it to get rich yet they still introduce XCP as middle coin.
BTW, I'm don't mind getting rich quick just like everybody. But a friend asked me this question, and I could not come up with a good answer.
Part of the original Master Protocol concept was the ability for anyone to easily create a currency on top of the
BTC blockchain.
A simple proof-of-concept, even if that’s all it was, is enough technical justification for Mastercoins (MSC) to exist. Create the means to create a currency by creating a currency.
MSC provide an example of what can live on top of a cryptocurrency blockchain. If it has similar but separate utility to the underlying coin as well, it will have its own value, more if its utility is higher.
Is it a technical necessity? No.
Tim Berners-Lee didn’t just publish a whitepaper, and he didn’t just write a protocol, he made this:
http://info.cern.ch/hypertext/WWW/TheProject.html Which doesn’t look anything like this:
http://bitcoinwisdom.com/markets/btcchina/btccny…but they are delivered via the same technological mechanism. Applied genius with renumerated development resources.
Satoshi didn’t just publish a whitepaper, either. He made real
BTC. And has a million of them. And a massive community of developers and enthusiasts, all building an economy from scratch, making MasterCoin, counterparty, ColoredCoins, etc feasible to conceive. Four years ago, few understood why he made “bit" coins.
So, if the Master Protocol lives atop the
BTC blockchain, and Mastercoins live on top of the Master Protocol….
Who’s going to figure out what else can live on top of the Master Protocol? The few who understand what else might. And look: dedicated resources to do just that.
The ability to push the boundaries of what could live on top of Mastercoins is a huge benefit on the technical side. Having that ability makes phrases
such as cleaner, easier to implement, or making it easier to support more sophisticate protocols in the future, etc.
much less of a pipe dream, and more like your dream.