ANN: [OPAL] | POS | Secure Messaging |NO ICO

[BLACKCOIN883]

I would like to proudly announce that Opal is releasing colored coins, effective immediately.

Colored coins allow you to create an on blockchain asset, which has tons of potential use cases.

The implementation is Open-Assets compliant and we are excited to have you try it out.

GUI is in development, but you can try it out command line with http://github.com/opalcoin/colorcore

In the current Opal implementation, outputs represent a quantity of Opal, secured by an output script. With the Open Assets Protocol, outputs can encapsulate a quantity of a user-defined asset on top of that Opal amount.

There are many applications:

    A company could issue colored coins representing shares. The shares could then be traded frictionlessly through the Opal infrastructure.
    A bank could issue colored coins backed by a cash reserve. People could withdraw and deposit money in colored coins, and trade those, or use them to pay for goods and services. The Blockchain becomes a system allowing to transact not only in Opal, but in any currency.
    Locks on cars or houses could be associated with a particular type of colored coins. The door would only open when presented with a wallet containing that specific coin.

Really cool feature !

Now this looks rather good, will open the doors to some great projects.

[Truther]

I would like to proudly announce that Opal is releasing colored coins, effective immediately.

Colored coins allow you to create an on blockchain asset, which has tons of potential use cases.

The implementation is Open-Assets compliant and we are excited to have you try it out.

GUI is in development, but you can try it out command line with http://github.com/opalcoin/colorcore

In the current Opal implementation, outputs represent a quantity of Opal, secured by an output script. With the Open Assets Protocol, outputs can encapsulate a quantity of a user-defined asset on top of that Opal amount.

There are many applications:

    A company could issue colored coins representing shares. The shares could then be traded frictionlessly through the Opal infrastructure.
    A bank could issue colored coins backed by a cash reserve. People could withdraw and deposit money in colored coins, and trade those, or use them to pay for goods and services. The Blockchain becomes a system allowing to transact not only in Opal, but in any currency.
    Locks on cars or houses could be associated with a particular type of colored coins. The door would only open when presented with a wallet containing that specific coin.

Really cool feature !

Now this looks rather good, will open the doors to some great projects.

Token could even be used for in-game micro-transaction as well. Definitely a great number of possibilities with this feature.

[Voidlord]

In the current Opal implementation, outputs represent a quantity of Opal, secured by an output script. With the Open Assets Protocol, outputs can encapsulate a quantity of a user-defined asset on top of that Opal amount.

There are many applications:

-Shares A company could issue colored coins representing shares. The shares could then be traded frictionlessly through the Opal infrastructure.
-Backed coin A bank could issue colored coins backed by a cash reserve[/b]. People could withdraw and deposit money in colored coins, and trade those, or use them to pay for goods and services. The Blockchain becomes a system allowing to transact not only in Opal, but in any currency.
-Locks on cars or houses could be associated with a particular type of colored coins. The door would only open when presented with a wallet containing that specific coin.

-Tickets are transferable bearer tokens which are designed to be eventually redeemed for some kind of real world value.
Examples of tickets include:
Event entry passes
Store coupons and special offers
Frequent flyer miles and other redeemable rewards

-Certificates are transferable and redeemable in the same manner as tickets, and they additionally entitle the bearer to some kind of revenue paid through the blockchain.
Certificates can be used for bearer securities, such as securitized loans, mortgages, bonds, and dividend-paying stocks.

-Smart properties are transferable like tickets and certificates, and in addition, every particular smart property is both unique and atomic. Only one smart property of a given identifier can be created, and once created it may not be subdivided.
Smart properties can be used to indicate ownership of an unique real-world asset, and can also be used for objective naming of content-addressed mutable data.  This naming function is related to, and an extension of, hash-based naming.

A common operation in software engineering is to use cryptographic hash functions to create short identifiers for large pieces of data. This is useful because hash values are easy to communicate since they are short, and also are easy to check since they are deterministic. This means if you know the name of some piece of data, you can independently verify that you have the correct copy of it. But the limitation of hash-based naming is that the named data can never change.

Smart property overcomes this limitation. Because of a Bitcoin feature (OP_RETURN) that allows arbitrary data to be attached to transactions, every time smart property is moved it can be associated with a new hash. This means if you use the smart property as the name of your data instead of using the hash, you can change that data and everybody who knows the identifier of the smart property can identify the most current version of the data.

This is an exciting new capability with deep implications, and we do not believe we have fully mapped out all the possibilities it opens up.

Now this looks rather good, will open the doors to some great projects.

-In-game tx Token could even be used for in-game micro-transaction as well. Definitely a great number of possibilities with this feature.

Opal for Open Pit-mine of Aurum & Lot more  

Im just a simple miner and some technical things go above my head.
But I feel there is something special about this whole project, besides ltc this is all I look at and there are always some interesting developments going on.
I am curious to see how this will unfold.

If time will tell, der arr lot of fruits on da Tree, which mean sun & earth give us good sugars !

Sun Tsu 10.34: as sun is unreachable now (POW) you can mine earth (Opool) with http://www.o-pool.com/)

[sensimilia]

awww yeah

[RCan06]

Wow, I honestly haven't looked in this coloured coin concept too much, but it looks like it opens a ton of doors! Very cool, I keep getting more excited about OPAL developments, and simply owning/being part of this coin/community! 

Cheers

[bassguitarman]

https://twitter.com/redditbass/status/556283157771595776

[2fresh]

I have a question for the community:   is there any interest in having a resource to buy or sell Opal directly for fiat?

`

I think it would be very cool, but I do believe the team has some kind of opal/fiat arrangement in the works if I'm not mistaken.

[bassguitarman]

I have a question for the community:   is there any interest in having a resource to buy or sell Opal directly for fiat?

`

I think it would be very cool, but I do believe the team has some kind of opal/fiat arrangement in the works if I'm not mistaken.

This is still happening, but partnership is taking longer than expected

[NoobKidOnTheBlock]

I have a question for the community:   is there any interest in having a resource to buy or sell Opal directly for fiat?

`

I think it would be very cool, but I do believe the team has some kind of opal/fiat arrangement in the works if I'm not mistaken.

This is still happening, but partnership is taking longer than expected

Hey good to hear that OPAL is still going strong with their developments and their plans for this coin I'm still holding my OPAL and know that they are worth the holding for sure Keep up the amazing work guys

[bassguitarman]

 Opal now has a live rest api and live blockchain explorer powered by node.js and magic!  http://live.opal-coin.com

[Voidlord]

Opal now has a live rest api and live blockchain explorer powered by node.js and magic!  http://live.opal-coin.com

useful tool, well done !

[0bert]

Opal keep on rockin! 

[etoque]

Opal keep on rockin!  

absolutly

And all this stability make opal eruptive  

[Voidlord]

Could anyone issue an asset or only a select group or only opal's team?

Those who have an Opallet (Opal Wallet) 

[Voidlord]

I just made some Op'shopping at Poloniex, nice place & very fast transactions, compared to Cryptsy.
I used to be a BTC-e user, and they are even slower than Poloniex.
Do anybody know why Polo are like five time faster with withdrawal/deposit ?

[QFT]

Probably depends on the amount of confirmations the exchange requires?

[Voidlord]

Probably depends on the amount of confirmations the exchange requires?

Yes, i did not find anything about that on their faq or terms.

EDIT: i just tested Cryptsy, very fast tonight, as Poloniex, 60-100 sec, but not confirmed.
(Poloniex Opals came as confirmed)

[etoque]

Probably depends on the amount of confirmations the exchange requires?

Yes, i did not find anything about that on their faq or terms.

EDIT: i just tested Cryptsy, very fast tonight, as Poloniex, 60-100 sec, but not confirmed.
(Poloniex Opals came as confirmed)

Mehh,cryptsy definitivly suck man,no automatic withdrawl/deposit, when volume is low yeah its fast but wait whem the volume pickup. It can take over 12 hour sometime. EVERYTIME

+ big fee

...

[Voidlord]

In the current Opal implementation, outputs represent a quantity of Opal, secured by an output script. With the Open Assets Protocol, outputs can encapsulate a quantity of a user-defined asset on top of that Opal amount.

There are many applications:

-Shares A company could issue colored coins representing shares. The shares could then be traded frictionlessly through the Opal infrastructure.
-Backed coin A bank could issue colored coins backed by a cash reserve[/b]. People could withdraw and deposit money in colored coins, and trade those, or use them to pay for goods and services. The Blockchain becomes a system allowing to transact not only in Opal, but in any currency.
-Locks on cars or houses could be associated with a particular type of colored coins. The door would only open when presented with a wallet containing that specific coin.

-Tickets are transferable bearer tokens which are designed to be eventually redeemed for some kind of real world value.
Examples of tickets include:
Event entry passes
Store coupons and special offers
Frequent flyer miles and other redeemable rewards

-Certificates are transferable and redeemable in the same manner as tickets, and they additionally entitle the bearer to some kind of revenue paid through the blockchain.
Certificates can be used for bearer securities, such as securitized loans, mortgages, bonds, and dividend-paying stocks.

-Smart properties are transferable like tickets and certificates, and in addition, every particular smart property is both unique and atomic. Only one smart property of a given identifier can be created, and once created it may not be subdivided.
Smart properties can be used to indicate ownership of an unique real-world asset, and can also be used for objective naming of content-addressed mutable data.  This naming function is related to, and an extension of, hash-based naming.

A common operation in software engineering is to use cryptographic hash functions to create short identifiers for large pieces of data. This is useful because hash values are easy to communicate since they are short, and also are easy to check since they are deterministic. This means if you know the name of some piece of data, you can independently verify that you have the correct copy of it. But the limitation of hash-based naming is that the named data can never change.

Smart property overcomes this limitation. Because of a Bitcoin feature (OP_RETURN) that allows arbitrary data to be attached to transactions, every time smart property is moved it can be associated with a new hash. This means if you use the smart property as the name of your data instead of using the hash, you can change that data and everybody who knows the identifier of the smart property can identify the most current version of the data.

This is an exciting new capability with deep implications, and we do not believe we have fully mapped out all the possibilities it opens up.

Now this looks rather good, will open the doors to some great projects.

-In-game tx Token could even be used for in-game micro-transaction as well. Definitely a great number of possibilities with this feature.

Opal for Open Pit-mine of Aurum & Lot more  




EDIT: Here is, as promised, the modified one: more decent typo:

[etoque]

Good stuff ! Colored coin open many new way for Opal