Mastercoin: A Second-Generation Protocol on the Bitcoin Blockchain
Alternative currencies have become a popular topic in the Bitcoin space. We have Litecoin and Primecoin introducing alternative mining algorithms with novel properties, PPCoin replacing mining entirely with a non-costly alternative, Ripple creating a cryptocurrency network that can store credit relationships and user-defined currencies, and over seventy....
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The Mastercoin Foundation announced its launch earlier this week. Its development team, let by JR Willet, hope to add a programmable 'money layer' on top of bitcoin's existing block chain. The development work will allow just about anyone to create their own virtual currencies using the existing Bitcoin protocol. In turn, this would allow new currencies to effectively 'piggyback' on bitcoin's infrastructure and economy. It isn't a simple plan, as Mastercoin isn't just another cryptocurrency, it's a new protocol - a protocol that could change the way people feel about virtual currencies. In....
HolyTransaction, a universal cryptocurrency wallet, announced today that they are extending their support to the Mastercoin protocol and all of the Mastercoin's smart properties. Mastercoin uses the Bitcoin blockchain to store records and data and allows users to create their own digital tokens and by that creating smart properties. Smart properties enable the online exchange of assets such as bonds, real estate, and stocks with the security, efficiency and low-cost of the Bitcoin protocol. "The Mastercoin Protocol can be used for things such as decentralized crowdfunding, asset....
Bitcoin expert J. R. Willet is looking to transform not just Bitcoin, but the cryptocurrency world. In his view, Bitcoin is incomplete, and has led to the creation of altcoins which he says has diluted the message of Bitcoin. He wants to change the situation by creating a protocol layer that exists on top of Bitcoin. That protocol layer will allow for a plethora of new digital currencies to be created that will all exist on the Bitcoin block chain. It's called MasterCoin. The MasterCoin protocol can be described by analogy to the HTTP protocol, which the World Wide Web runs on, being a....
Mastercoin launched its distributed exchange today. Mastercoin has launched a decentralized exchange feature, which is in effect a distributed exchange. Several months ago, the Mastercoin team launched the idea for this type of exchange. The concept had potential, as shown by the raising of 4.740 Bitcoins in a public kickstarter (this was worth about $600.000 at the time). The development process had contests for bounties to get developer's attention. “We got some excellent developers to kick in and start developing four different wallets, and saw the ‘Bitcoin 2.0’ ecosystem built up from....
A GUI version of the Mastercoin Wallet. We are less than two months away from the first implementation of a user-friendly distributed exchange. The Mastercoin Foundation announced a launch date of March 15 for their distributed exchange, which means Mastercoin enthusiasts will get a chance to test out the kind of decentralized exchange that bitcoiners have been talking about for years. Although bitcoins and mastercoins will be the only currencies available for trade at launch, this is definitely a huge moment for the cryptocurrency community as a whole. Mastercoin is also lacking a....