Author: Nicolas Dorier 2016-08-02 05:21:49
Published on: 2016-08-02T05:21:49+00:00
The Open Asset protocol is an already implemented protocol used in production with multiple implementations. It is not possible to do provably limited issuance and the scriptPubKey can be anything, not necessarily P2PK. The issuer of the asset is determined by whoever can spend the scriptPubkey. If a colored output is spent incorrectly, it is effectively destroyed. It is not possible to issue more than one asset type in a transaction as the asset issued is defined by the scriptPubKey of the first input. For multiple transfers, it is possible to have several outputs. The marker output is skipped in the list. To prevent users from sending assets to a wallet that does not support Open Asset via another address scheme, the protocol requires address reuse for issuing. However, this is not supported behaviour and insecure. Older clients may accidentally destroy assets but are prevented from doing so by Open Asset protocol. It is not easily modifiable by now for improving it. There were questions about the clarity and thought-out nature of the Open Asset protocol documentation, but there are also no objections to calling it BIP 160. It was originally proposed by Flavien Charlon and there has been no response from Nicolas Dorier, who is known personally by the original author regarding whether or not James MacWhyte can put his name in the BIP.
Updated on: 2023-06-11T05:33:56.722345+00:00