colored-coins / colored-coins-protocol-specification Goto Github PK

I was reading your documentation on Introduction. The first paragraph introduces a convention to be used among the document, which is being violated by the end of the same paragraph as follows:

Bitcoin as a currency unit should have been written with a lowercase b according to that convention, but has been capitalized within the brackets at the very end.

This issue gives the impression to the careful reader that the documentation to come is likely going to be poor in quality, and otherwise is not critical at all.

The company can issue a locked startup-x-to-the-moon asset with an amount of, say, 1 million units and send 25% of the issued units to the VC firm upon receiving their investment.

in https://github.com/Colored-Coins/Colored-Coins-Protocol-Specification/wiki/Benefits
will be...

The company can issue a locked startup-x-to-the-moon asset with an amount of, say, 10 million units and send 25% of the issued units to the VC firm upon receiving their investment.

10, no 1. right?

On this page: https://github.com/Colored-Coins/Colored-Coins-Protocol-Specification/wiki/Introduction

I think:

Digital asset on top of the Bitcoin Blockchain...

should be:

Digital assets on top of the Bitcoin Blockchain...

the markdown links for internal Wiki titles are broken, when the title is on a different page.

• ctrl-f ]( to see 10 examples:
  https://github.com/Colored-Coins/Colored-Coins-Protocol-Specification/wiki/Coloring%20Scheme

this appears in other pages as well. (FAQ, Rules etc.)

Was going through the wiki pages about the "Coloring Scheme" and have a question about it.

https://github.com/Colored-Coins/Colored-Coins-Protocol-Specification/wiki/Coloring%20Scheme

Given that you are trying to solve the space constraints of OP_RETURN's 80 byte limit by using the 1|N mutisig approach, I was wondering why not use a simpler approach of storing all the asset manipulation instructions and the info_hash in IPFS (or equivalent)?

You could store the asset manipulation instructions and the info_hash on IPFS and then store the IPFS mutihash for that data in the OP_RETURN field of the transaction.

That will help solve the problems of Decentralization, Robustness, Ownership and Provable immutability as mentioned on your Benefits page https://github.com/Colored-Coins/Colored-Coins-Protocol-Specification/wiki/Benefits

If you talk about your reasons or motivations for your approach in any of your whitepapers or documents, could you please point me to it? I am eager to understand why why you went with 1) torrents over IPFS and 2) mutisig approach to solve space constraints over using an indirection through IPFS?

Here. Public keys are required for unlocked assets and prev_tx+index for locked while example states the opposite.

What is the license for the specification as it exists in the repository now?

Should be 80 Bytes now. Most used client (0.11) https://getaddr.bitnodes.io/dashboard/#user-agents

"40 Bytes limit of the OP_RETURN "

"For example, let's return to the company from our previous example. The company can issue 750,000 units of a new unlocked asset, call it startup-x-round-B. This time each unit is redeemable for its proportion in the total amount of the new asset out of the existing 750,000 locked startup-x-to-the-moon. Initially each unit of the new asset is redeemable for exactly one unit of the old asset, but in case of a new round of funding the new asset can be diluted by issuing more units."

Should these numbers be 7,500,000 instead of 750,000?

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Example Step one has "Transfer 4 units of asset A from the first input to the first output."
Should read "Transfer 3 units of asset A from the first input to the first output"

[https://github.com/Colored-Coins/Colored-Coins-Protocol-Specification/wiki/Introduction#2-asset-metadata-and-the-rule-engine]

Because of the 40 Bytes limit of the OP_RETURN field

Given that the limit was raised 80 bytes in version 0.10 (If I'm right), and the version node are approximatively at 78% more than 0.10 https://bitnodes.21.co/dashboard/
Colored coin use all available space ?