MasterCoin: New Protocol Layer Starting From “The Exodus Address”

[marcelus]

please upvote so we can get some exposure on the reddit technology subreddit

http://www.reddit.com/r/technology/comments/1v711z/mastercoin_implementations_reach_100_consensus_on/

Awesome sauce

[prophetx]

I may have missed the "use of alt-chain vs use of bitcoin blockchain" discussion.  Can you point me to the link.

Anyway,  iXcoin (created in early 2011) is in the process of implementing colored coins natively.  iXcoin is a merged mined coin that has currently 7.2 Peta Hash network ( 40% of bitcoin) to secure it.  The nice thing about this approach compared to mastercoin is that we don't sacrifice a lot in hash rate, however we start off with a much solid and well tested foundation.  

iXcoin is just as robust as Bitcoin, using the latest code base.  However, in addition to user defined coins, we will be layer on top our own framework of Smart Contracts.   

This certainly a race to create the most advanced crypto-currency.  We believe iXcoin taking a more conservative approach to implementation can delivery functionality ahead of every other competitor.

www.ixcoin.co will be updated shortly to highlight this exciting new development.

You certainly are a persistent troll.

I am simply informing the community that there are alternatives to Mastercoin.

right... it's called threadjacking ...

[dacoinminster]

I may have missed the "use of alt-chain vs use of bitcoin blockchain" discussion.  Can you point me to the link.

Anyway,  iXcoin (created in early 2011) is in the process of implementing colored coins natively.  iXcoin is a merged mined coin that has currently 7.2 Peta Hash network ( 40% of bitcoin) to secure it.  The nice thing about this approach compared to mastercoin is that we don't sacrifice a lot in hash rate, however we start off with a much solid and well tested foundation.  

iXcoin is just as robust as Bitcoin, using the latest code base.  However, in addition to user defined coins, we will be layer on top our own framework of Smart Contracts.   

This certainly a race to create the most advanced crypto-currency.  We believe iXcoin taking a more conservative approach to implementation can delivery functionality ahead of every other competitor.

www.ixcoin.co will be updated shortly to highlight this exciting new development.

You certainly are a persistent troll.

I am simply informing the community that there are alternatives to Mastercoin.

right... it's called threadjacking ...

I've removed the off-topic posts. Thanks guys.

[udecker]

Cool Wallet! More great news - https://bitcointalk.org/index.php?topic=291914.msg4542958#msg4542958

Great job, Grazcoin!

Good news:
Tutorial for masterchain.info's cool Hybrid web wallet (TM) that does bitcoin/mastercoin sending as well as Distributed Exchange operations is available on:
https://masterchain.info/downloads/masterchain_tutorial.pdf

What it CAN do:

• Show balances of MSC/TMSC/BTC for each of your addresses (just add them to the wallet)
• Initiate a send/sell of each of the funds on the wallet
• Suggest wallet addresses when clicking ACCEPT on an sell offer
• Generate a correct PAY transaction after the offer got accepted

What it CANNOT (yet) do:

• Sync wallet with server is not yet implemented. It means that the wallet is kept only locally in your browser. To re-create it, add the addresses to a new wallet

Few technical details:

• All view pages are rendered locally on your browser using json data from the server (or from your filesystem). The json files are static (so no problem for 1M users together, since users bring their own CPUs)
• Wallet is kept in browser storage. No private information is stored. A secure mechanism to keep the wallet data online will be later introduced
• Wallet operations are done using a POST request from the server to:
  
  • /wallet/validateaddr/
  • /wallet/send/
  • /wallet/sell/
  • /wallet/accept/
    
• At this point, the tx gets the bitcion network using pushtx of blockchain.info (will be later changed)
  

Testing:        
Not enough testing has been done. There are still sharp edges, and some hick-ups.
Example are available in the tutorial.
There is still enough work to get to consensus on DEx.


Sources:
https://github.com/grazcoin/mastercoin-tools

Note:
the wallet is not a cold wallet, but a cool wallet ;-)

[Westphalian]

Re: quote from grazcoin above (masterchain.info wallet/DEx)

It looks like you need to create a new wallet first and then search for your mastercoin/bitcoin address.
Once you find the address you can add it to the newly created wallet.

Are there any official instructions for beta-testers for the wallet and DEx, like where to acquire test mastercoins and where to report bugs?

[udecker]

Re: quote from grazcoin above (masterchain.info wallet/DEx)

It looks like you need to create a new wallet first and then search for your mastercoin/bitcoin address.
Once you find the address you can add it to the newly created wallet.

Are there any official instructions for beta-testers for the wallet and DEx, like where to acquire test mastercoins and where to report bugs?

Westphalian, Marv has been putting together the test plan for DEx at https://github.com/marv-engine/QA/blob/master/MastercoinDistributedExchangeTestPlan.md

Regarding bug reports, Grazcoin may have a preferred location, but you can ask the devs for their preference, and to receive TMSC. 

Still finalizing the formal version of the above.

Grazcoin, this is looking exceptional!

[grazcoin]

Re: quote from grazcoin above (masterchain.info wallet/DEx)

It looks like you need to create a new wallet first and then search for your mastercoin/bitcoin address.
Once you find the address you can add it to the newly created wallet.

Are there any official instructions for beta-testers for the wallet and DEx, like where to acquire test mastercoins and where to report bugs?

No need to create a new wallet. It gets created automatically if it is not there already, e.g.the first time you click "add to wallet" on some address.

No official instructions as the code is still hot directly from the oven. Also being now in the revolutionary & chaotic phase of the development, things may change very fast. Whenever a beta stage comes, I will tag it as beta.
Testing - you are more than welcome. Just follow the tutorial and experiment.

General testing and testcoins - that's not me.
Report bugs to masterchain@bitmessage.ch (please text only).

[Bit510]

Re: quote from grazcoin above (masterchain.info wallet/DEx)

It looks like you need to create a new wallet first and then search for your mastercoin/bitcoin address.
Once you find the address you can add it to the newly created wallet.

Are there any official instructions for beta-testers for the wallet and DEx, like where to acquire test mastercoins and where to report bugs?

No need to create a new wallet. It gets created automatically if it is not there already, e.g.the first time you click "add to wallet" on some address.

No official instructions as the code is still hot directly from the oven. Also being now in the revolutionary & chaotic phase of the development, things may change very fast. Whenever a beta stage comes, I will tag it as beta.
Testing - you are more than welcome. Just follow the tutorial and experiment.

General testing and testcoins - that's not me.
Report bugs to masterchain@bitmessage.ch (please text only).

I created a MSC selling offer at address 12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF, but this address does not have any Mastercoins, why still can send bitcoins? I lost 0.0000543+0.0001086=0.0001629 BTC!!! Is this a bug? People can create a sell order in any Bitcoin address even if no Mastercoins in it?

You can check the tx here: https://blockchain.info/tx/37576aabe7697e688540a91e8603f3f5f33539a23f9b22b811b5de5ca5382485

and here:　https://masterchain.info/Address.html?addr=12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF

and check at: http://mastercoin-explorer.com/addresses/12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF

Can anyone tell me whether it is a bug or not? How can I get my BTC back?

[TKeenan]

How can I get my BTC back?

Hahahaha!  "get my BTC back".  Good one.  

Those are gone.  The good news is that the total amounts to about only 15 cents (US).  The Mastercoin protocol doesn't control whether or not you can put transactions (even corrupt bad ones) on the bitcoin blockchain.  The bitcoin blockchain doesn't know those addresses are without Mastercoin - and doesn't care either.  The mastercoin parsers will notice those addresses are not funded with MSC - and reject the offer.  However, the corrupt offer will still exist on the blockchain and the bitcoin used to form the corrupt offer will still be consumed in forming the bad offer.  Get it?

[BitThink]

Re: quote from grazcoin above (masterchain.info wallet/DEx)

It looks like you need to create a new wallet first and then search for your mastercoin/bitcoin address.
Once you find the address you can add it to the newly created wallet.

Are there any official instructions for beta-testers for the wallet and DEx, like where to acquire test mastercoins and where to report bugs?

No need to create a new wallet. It gets created automatically if it is not there already, e.g.the first time you click "add to wallet" on some address.

No official instructions as the code is still hot directly from the oven. Also being now in the revolutionary & chaotic phase of the development, things may change very fast. Whenever a beta stage comes, I will tag it as beta.
Testing - you are more than welcome. Just follow the tutorial and experiment.

General testing and testcoins - that's not me.
Report bugs to masterchain@bitmessage.ch (please text only).

I created a MSC selling offer at address 12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF, but this address does not have any Mastercoins, why still can send bitcoins? I lost 0.0000543+0.0001086=0.0001629 BTC!!! Is this a bug? People can create a sell order in any Bitcoin address even if no Mastercoins in it?

You can check the tx here: https://blockchain.info/tx/37576aabe7697e688540a91e8603f3f5f33539a23f9b22b811b5de5ca5382485

and here:　https://masterchain.info/Address.html?addr=12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF

and check at: http://mastercoin-explorer.com/addresses/12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF

Can anyone tell me whether it is a bug or not? How can I get my BTC back?

It should be a bug of the software you used in creating the selling offer, but you cannot get your BTC back because BTC sending is non-reversible.

[Bit510]

Re: quote from grazcoin above (masterchain.info wallet/DEx)

It looks like you need to create a new wallet first and then search for your mastercoin/bitcoin address.
Once you find the address you can add it to the newly created wallet.

Are there any official instructions for beta-testers for the wallet and DEx, like where to acquire test mastercoins and where to report bugs?

No need to create a new wallet. It gets created automatically if it is not there already, e.g.the first time you click "add to wallet" on some address.

No official instructions as the code is still hot directly from the oven. Also being now in the revolutionary & chaotic phase of the development, things may change very fast. Whenever a beta stage comes, I will tag it as beta.
Testing - you are more than welcome. Just follow the tutorial and experiment.

General testing and testcoins - that's not me.
Report bugs to masterchain@bitmessage.ch (please text only).

I created a MSC selling offer at address 12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF, but this address does not have any Mastercoins, why still can send bitcoins? I lost 0.0000543+0.0001086=0.0001629 BTC!!! Is this a bug? People can create a sell order in any Bitcoin address even if no Mastercoins in it?

You can check the tx here: https://blockchain.info/tx/37576aabe7697e688540a91e8603f3f5f33539a23f9b22b811b5de5ca5382485

and here:　https://masterchain.info/Address.html?addr=12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF

and check at: http://mastercoin-explorer.com/addresses/12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF

Can anyone tell me whether it is a bug or not? How can I get my BTC back?

It should be a bug of the software you used in creating the selling offer, but you cannot get your BTC back because BTC sending is non-reversible.

I did not use any software, I just use this website: https://masterchain.info/.

As you said, this website(https://masterchain.info/) has a big risk to trade. Because people will lose their money always without any prompt.

[BitThink]

Re: quote from grazcoin above (masterchain.info wallet/DEx)

It looks like you need to create a new wallet first and then search for your mastercoin/bitcoin address.
Once you find the address you can add it to the newly created wallet.

Are there any official instructions for beta-testers for the wallet and DEx, like where to acquire test mastercoins and where to report bugs?

No need to create a new wallet. It gets created automatically if it is not there already, e.g.the first time you click "add to wallet" on some address.

No official instructions as the code is still hot directly from the oven. Also being now in the revolutionary & chaotic phase of the development, things may change very fast. Whenever a beta stage comes, I will tag it as beta.
Testing - you are more than welcome. Just follow the tutorial and experiment.

General testing and testcoins - that's not me.
Report bugs to masterchain@bitmessage.ch (please text only).

I created a MSC selling offer at address 12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF, but this address does not have any Mastercoins, why still can send bitcoins? I lost 0.0000543+0.0001086=0.0001629 BTC!!! Is this a bug? People can create a sell order in any Bitcoin address even if no Mastercoins in it?

You can check the tx here: https://blockchain.info/tx/37576aabe7697e688540a91e8603f3f5f33539a23f9b22b811b5de5ca5382485

and here:　https://masterchain.info/Address.html?addr=12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF

and check at: http://mastercoin-explorer.com/addresses/12QcQmKr7TaPNSHV4g2Nts3nvQAHwKN9cF

Can anyone tell me whether it is a bug or not? How can I get my BTC back?

It should be a bug of the software you used in creating the selling offer, but you cannot get your BTC back because BTC sending is non-reversible.

I did not use any software, I just use this website: https://masterchain.info/.

As you said, this website(https://masterchain.info/) has a big risk to trade. Because people will lose their money always without any prompt.

The it's a bug of that website. Maybe you could report this to its owner. This kind of offer should be treated as invalid and should not let it happen. The BTC loss is minor, but the problem is that the invalid offer will ruin the blockchain and increases the trouble in parsing later.

[dacoinminster]

1/17/2013 I have completed raising funds to work full-time on Mastercoin! Please be on the lookout for major announcements soon

[marcelus]

1/17/2013 I have completed raising funds to work full-time on Mastercoin! Please be on the lookout for major announcements soon

Congratulations

[udecker]

Newest dev update:

More info on the Distributed Exchange testing (Dev MSC + BTC100, folks… for *testing*.  Get testing!)

Marv has put together a test plan, available at https://github.com/marv-engine/QA

Also on deck:

• Curtis & Faiz Web wallet
• Zathras' simplified spec, and blockchain scanning optimizations
• consensus (consensus!)
• Maran & Jeffrey’s mastercoind project, and DEx support in verification API
• Grazcoin’s cool Hybrid web wallet^TM
• and…

http://blog.mastercoin.org/2014/01/17/master-protocol-developer-update-3/

There may be lots to do, but *lots* of things happening, too.  And fast.

Keep up the great work, guys!

[hmmmstrange]

Mastercoin got a bit of publicity today. Max Keiser talked quite a bit on protocols being built on top of bitcoin, describing these as "bitcoin 2.0"

http://rt.com/shows/keiser-report/episode-551-max-keiser-769/

Some of the other exciting features being developed by Mastercoin include a decentralized betting exchange and using contracts for differences to create currencies that don't need to rely on a third party for physical backing.

One thing that needs to be pointed out about the Mastercoin protocol is the mastercoins on that layer also have their own value separate from bitcoins. This means that Mastercoin is also an alt coin. There are some interesting features that are being added to the Mastercoin protocol, such as the ability to mark certain mastercoins in a savings account where payments can be reversed if the are made without the address holder's permission.

[nanobit]

Mastercoin got a bit of publicity today. Max Keiser talked quite a bit on protocols being built on top of bitcoin, describing these as "bitcoin 2.0"
http://rt.com/shows/keiser-report/episode-551-max-keiser-769/

There's also an article about Bitcoin 2.0 (or UltraCoin) on Zerohedge:
http://www.zerohedge.com/contributed/2014-01-19/bitcoin-20-aka-ultra-coin-bitcoins-derivative-layer-allows-virtual-control-re

[jmerme01]

Is this the right faucet to post in to get mastercoin from http://mastercoin-faucet.com/bitcointalk-intro?
My wallet is: 1DnLB9AvyWjke2QVMW94Nx56HhWHFkdwVW

[marvschneider]

Newest dev update:

More info on the Distributed Exchange testing (Dev MSC + BTC100, folks… for *testing*.  Get testing!)

Marv has put together a test plan, available at https://github.com/marv-engine/QA

Also on deck:

• Curtis & Faiz Web wallet
• Zathras' simplified spec, and blockchain scanning optimizations
• consensus (consensus!)
• Maran & Jeffrey’s mastercoind project, and DEx support in verification API
• Grazcoin’s cool Hybrid web wallet^TM
• and…

http://blog.mastercoin.org/2014/01/17/master-protocol-developer-update-3/

There may be lots to do, but *lots* of things happening, too.  And fast.

Keep up the great work, guys!

My strategic test plan https://github.com/marv-engine/QA/MastercoinDistributedExchangeTestPlan.md is in pretty good shape, I think. I haven't yet tailored the other files I forked from bitcoin/QA because I'm still getting my arms around what test mechanics people have used already. Please let me know.

[niner]

Mastercoin got a bit of publicity today. Max Keiser talked quite a bit on protocols being built on top of bitcoin, describing these as "bitcoin 2.0"
http://rt.com/shows/keiser-report/episode-551-max-keiser-769/

There's also an article about Bitcoin 2.0 (or UltraCoin) on Zerohedge:
http://www.zerohedge.com/contributed/2014-01-19/bitcoin-20-aka-ultra-coin-bitcoins-derivative-layer-allows-virtual-control-re

This guy is claiming 'Ultra Coin' is the 'AKA' for Bitcoin 2.0
wtf?

http://www.boombustblog.com/blog/item/9193-bitcoin-20-aka-ultra-coin-the-derivative-layer-above-bitcoin-that-allows-virtual-money-to-control-real-things