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6 votes
Accepted

Can Taproot be used to commit arbitrary data to chain without any additional footprint?

Yes, you can commit to data this way, but there is nothing special about Taproot here. The Pay-to-Contract construction used to tweak the root key in Taproot is generally usable, and has in fact been ...
Pieter Wuille's user avatar
5 votes
Accepted

Problem of colored-coins/assets and other coins with a parent/child relationship of paying for fees with only the parent currency

It's definitely a common problem found in a lot of those platforms that make it easy to create your own colored coin/token. Asking users to acquire the native token, such as Bitcoin with Counterparty ...
T.K's user avatar
  • 281
3 votes
Accepted

Bitcoin Protocol OP_RETURN + Omni USDT Tether + CoPay Multisig Help

I have solved my problem with a lot of debugging and help from the community on IRC irc.freenode.net #bitcoin-dev and also from people on the bitcointalk thread I started about this Topic. I invite ...
Grégory Saive - evias's user avatar
2 votes

Is it true that colored coins or digital assets (counterparty / ethereum / nxt assets / etc.) have an issue of paying fees?

Agreeing with all of the above, especially the point about seeing the native tokens in these systems as a form of fuel, rather than purely and simply a currency. Nxt has taken a couple of approaches ...
EvilDave's user avatar
2 votes

Is it true that colored coins or digital assets (counterparty / ethereum / nxt assets / etc.) have an issue of paying fees?

I noticed that even if I created an account for my customers, they have no way of sending that token back to me when they wish to redeem it as these platforms require their transaction fees be paid in ...
whatever's user avatar
  • 318
2 votes

Is the idea of color coins/open assets still alive? Are there any interesting projects ahead on this way?

There are at least 5 different colored coins implementations on bitcoin that I'm aware of. The ones in active development include: Colu - They recently showed how their implementation can be used ...
Jimmy Song's user avatar
  • 7,759
2 votes

How does Whopper Coin released in the summer of 2017 on the Waves platform solve the native fee problem inherit with many colored coin approaches?

On the Waves platform, it is possible for transaction fees to be paid in tokens. To do this, a full node with mining capabilities (anyone can run a node, but at least 10,000 WAVES is required to ...
deeplizard's user avatar
2 votes

Problem of colored-coins/assets and other coins with a parent/child relationship of paying for fees with only the parent currency

This is a tough one, and I think it's possible to find a solution to it, but it will depend on what your application is and the tradeoffs you're willing to accept. Today: Using Bitcoin, you could ...
Steve Ellis's user avatar
  • 1,072
1 vote

Is it possible to create a token on the Bitcoin blockchain?

Many different projects have been started as an attempt to bring tokenization on to Bitcoin such as Taro, Counterparty, and RGB. It is worth noting these are not Bitcoin core standards but are ...
Poseidon's user avatar
  • 653
1 vote

Is it possible to create a token on the Bitcoin blockchain?

BRC-20 tokens are created on the Bitcoin blockchain and don't follow Bitcoin rules for halving and mining. You could think of it as a bit like like writing "IOU €50" on a $1 banknote. The US ...
RedGrittyBrick's user avatar
1 vote

Is it possible to build pay to script without destination address?

Addresses are a human-convenience feature, and have little bearing on the underlying Bitcoin transaction. Common types of addresses rely on sending coins to scripts that allow spending by signatures ...
Raghav Sood's user avatar
  • 17.1k
1 vote

Implementation of tokens/assets/colored coins on top of bitcoin lighning nodes / channels?

Just wanted to add that Colu has been working on this problem since at least 2016, so i would dive deeper into their repositories, if you haven't already: https://github.com/Colored-Coins the most ...
InfoMiner's user avatar
1 vote

How do coloured coins work?

Coloured coins work by making use of OP_RETURN. I'll discuss the Omni Layer, which is currently the primary coloured coin implementation on Bitcoin. Omni works by encoding additional data within an ...
Raghav Sood's user avatar
  • 17.1k
1 vote

How to unlock colored coin?

Colored coins are second layer networks that run another protocol on top of the Bitcoin (or another) blockchain. While they transmit the full transaction information within their network, they don't ...
Murch's user avatar
  • 76k
1 vote
Accepted

How to unlock colored coin?

bitcoin wiki states that OP_RETURN: "[...]Marks transaction as invalid. A standard way of attaching extra data to transactions is to add a zero-value output with a scriptPubKey consisting of ...
I'll be respawned's user avatar
1 vote

Colored coin adds meta data to OP_RETURN. Why isn't this frowned upon?

I think I get it now. So Blockchain.info's wallet use to have a field for adding custom messages via a public note field. (https://blog.blockchain.com/2014/05/09/tutorial-how-to-send-bitcoins-using-...
cloudnthings's user avatar
1 vote

How do Bitcoin and Colored Coin react to malformed transactions?

Yes. That is exactly correct. A valid CC tx is a valid Bitcoin tx with extra structure that only CC nodes see. Bitcoin nodes do not validate the color aspect.
Assaf Shomer's user avatar
1 vote

How do Bitcoin and Colored Coin react to malformed transactions?

I think you are correct. It is perfectly reasonable that a colored-coins transaction is malformed while its bitcoin-level data is correct. Indeed, most colored-coins transactions are legal bitcoin ...
FedFranz's user avatar
  • 652
1 vote

Is it true that colored coins or digital assets (counterparty / ethereum / nxt assets / etc.) have an issue of paying fees?

Unfortunately, fees are part of the protocol and cannot be avoided. However, there are some platforms that release users from this burden. For instance, as far as I know, the Colu platform (based on ...
FedFranz's user avatar
  • 652
1 vote
Accepted

List of companies that has Implemented their own cryptocurrency or Color Coins in their business?

This question is too vague, like asking list of companies that use arrays in programming. Colored coins are programming abstractions(just a type of data structure) and when truly used for a technical ...
skang404's user avatar
  • 616

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