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Author Topic: How to increase bitcoin data storing size? Bitcoin colored coin?  (Read 157 times)
wsxdrfv
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October 15, 2018, 04:20:16 AM
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I heard about bitcoin colored coin?

What is it?

and bitcoin can store data other than transaction data up to 80 bytes?

If then, how to put data to transaction?

And then later how to extract that data for use?

and how to increase that 80 bytes size? and up to what size increasing possible?

Thanks.
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October 15, 2018, 04:31:09 AM
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 #2

You seriously should do some research before ask about common/topic. https://en.bitcoin.it/wiki/Colored_Coins should answer your question.
The most popular colored usage that i know is Tether (USDT) through Omni Layer protocol.

And then later how to extract that data for use?

If you know the Transaction ID, just select the output which uses OP_RETURN and encode/decode it if necessary.

and how to increase that 80 bytes size?

1. Change soft-limit on source code
2. Make hard-fork and make sure majority agree with the changes

and up to what size increasing possible?

Should be very big, but limited to limit with size that database (LevelDB or whatever database your client use) support.

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October 15, 2018, 09:37:57 AM
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What do you want to achieve?

If you want to issue your own token on the Bitcoin blockchain, look into Omni [1] or Counterparty [2]. Conceptually these tokens are similar to Ethereum's ERC-20 tokens, but with lesser smart contract capabilities.

[1] https://www.omnilayer.org/
[2] https://counterparty.io/

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