Author: Luke-Jr 2013-05-21 04:04:28
Published on: 2013-05-21T04:04:28+00:00
Bitcoin developer Mark Friedenbach has proposed a way to uniquely identify coloured coins and chains using UUIDs. He suggests that any chain can be identified by its genesis block, which is more than sufficient for tagging chains or coloured assets. Friedenbach proposes using Version 4 (random) UUIDs with the random bits extracted from the double-SHA256 hash of the genesis block of the chain. The proposal would help adopt the payment protocol to coloured coins. The method would require defining a "UUID" message type in the case of encoding the chain identifier. Bitcoin currently uses raw hashes extensively as UUIDs; whether the payment protocol should be influenced by that or not is being debated. Some altcoins may share a blockchain, or even merely the genesis block, so requiring a 1:1 mapping between genesis block and chain or coin seems non-ideal.
Updated on: 2023-06-06T17:36:26.572170+00:00