Author: Nicolas Dorier 2016-08-13 02:25:04
Published on: 2016-08-13T02:25:04+00:00
The discussion revolves around the Open Assets (OA) protocol, which has become stable and is being used by many companies in the industry. The goal is to make OA 1.0 the Bitcoin Improvement Proposal (BIP) since it is the one people are using. The idea of creating a new "multiple-colored-coin-protocol" that merges the features of different implementations has failed in the past due to different assumptions and tradeoffs taken by each protocol for different use cases. Therefore, there is no point in creating yet another "standard" that nobody uses. However, it would be useful to have other colored coin protocols such as EPOBC and Colu. ChromaWay is willing to replace EPOBC with something better and can support multiple different kernels, so adding a new protocol is not a big deal for them. One idea is to decouple input-output mapping/multiplexing from coloring, enabling advanced protocols with smart contracts that are compatible with old ones to a certain extent. Core developers may not be interested in colored coins, but Blockstream is developing a sidechain with user-defined assets that could be a preferred way of doing things. Investors do not need to install multiple wallets to deal with varying implementations since a wallet supporting multiple protocols can be implemented. Nicolas is proposing the BIP on behalf of Flavien, who will ACK as needed, but Nicolas will drive the discussions.
Updated on: 2023-06-11T05:32:54.302423+00:00