how would one go about creating a colored coin?
i want to create a colored coin for my company FakeCo for my thesis and give it away to study how it spreads (FakeCo would also have fake PR and fake earnings announcements, etc)
Well, if it's all fake, I guess testnet will suite you... The difference is that testnet coins do not cost anything and can be obtained from a faucet; also someone can easily do 51% attack (to double-spend, for example). The advantage of using testnet is that our software is too slow to run on mainnet atm.
So there are three options:
- ArmoryX: I have no idea if it still can be used on testnet (as it requires old version of bitcoind), but maybe it does. ArmoryX is fairly mature in terms of functionality. (Particularly, p2p trade works.) But might crash from time to time. It requires installation, there are only Windows binaries
- WebcoinX: it is web based, and presumably easier to use. But it's currently under development, so might be buggy. But, I think, basic functionality like sending and receiving coins works.
- NGCCC: it is a command-line client, written in Python... probably not what you want
So, WebcoinX: http://bitcoinx.github.io/webcoinx/ (Note that currently there is a bug: you need to reload page after user interface loads, as it isn't initialized properly on the first run)
To issue colored coins, get some coins from a faucet (check 'overview' tab) and then go to 'Issue' tab. Fill the form, and that would be it.
If you would rather use ArmoryX, please let me know.
I wrote my comment before the btc-tc news came out. I believe after this people would have more interest in this project.
I have tried to read some of the material but I guess I have some trouble understanding the status and support level for this project. A few more questions:
1. What do you mean "our software is too slow", which software are you referring to and what do you mean by too slow? How will this be addressed?
2. Are there known issues that would result in compromised integrity of an issue of colored coin (I think you call it color leakage or dilution in one of the papers)?
3. Are there issues with the way the accounting for colored coins works and harmonization with the bitcoin development path which could put an issue of colored coin at risk?
4. What is being developed now and what is planned? Is there some other online forum where dialog is taking place?
thanks!