Author: Alex Mizrahi 2016-08-02 17:25:50
Published on: 2016-08-02T17:25:50+00:00
In 2014-2015, an attempt was made to create an RFC-style standard "multiple-colored-coin-protocol" with representatives from all major protocols. However, the effort failed due to lack of interest in collaboration and each company only caring about its own product. Colu asked for requirements but developed a new protocol entirely on their own without taking anyone's input. Merging the protocols may not make sense as some value simplicity, and a combined protocol cannot have this feature. There is little interest in a merged colored coin protocol now, and Colu is moving away from it. ChromaWay would not mind replacing EPOBC with something better, and they are open to adding a new protocol. One idea they have is to decouple input-output mapping/multiplexing from coloring, allowing for more advanced protocols with smart contracts while keeping them compatible with old ones. Core developers generally dislike things like colored coins, so getting their help is unlikely. Blockstream is developing a sidechain with user-defined assets, which they see as the preferred way of doing things. Investors currently have to install multiple wallets to deal with varying implementations, but this can be solved by implementing a wallet that supports multiple protocols.
Updated on: 2023-06-11T05:32:19.043647+00:00