Recently I've been trying to find developers to help me to complete
colored coins client implementation, with no success: I'm now working on it alone.
I know that there developers well-versed in cryptocurrencies in this thread, so I'm asking here too.
Brief intro: colored coins can be used to represent ownership of securities or smart property; they can exist in existing blockchain (Bitcoin/Litecoin/Devcoin) and do not require changes to protocol; they do put any data extra into the blockchain they use, and so transactions involving colored coins do not bloat blockchain any more than normal trade transactions; colored coins can be used to implement
decentralized exchanges for stocks, bonds, etcWhat: We already have several working prototypes, now we need to make an implementation which is actually usable. This involves optimization, improvements to user interface, security-related improvements etc. The most promising implementation now (in terms of what can be completed quickly) is so-called NGCCC (Next-generation colored coin client). It is implemented in
Python, has small code base, works together with bitcoind.
Why: Well, people were asking for a thing like this for quite some time, but complete implementation have been delayed for various reasons. (We actually had a fully functional prototype back in January.) Right now, BTCT.co is closing, and issuers are looking for a new home, so it would be nice to offer them decentralized exchange. Another reason is competition from Mastercoin: Mastercoin aims to offer something similar, but is worse in term of decentralization. So I think it's better to complete the good thing until the bad thing takes off.
The deal: I'm looking for
Python developers who understand what it takes to implement a cryptocurrency wallet. We need to implement this thing as soon as possible, so I need developers ASAP. There is
70 BTC compensation pool, it will be spread over several milestones and will be awarded to developers proportional to their contributions. I'm also looking for
JS developers for another implementation, but it is lower priority. If interested, please PM me.
How is this relevant for Devcoin: OK, since it is a Devcoin thread, I have to explain why it is relevant, so:
- We can discuss colored coins on Devcoin blockchain: I believe it would be beneficial to Devcoin as it will allow Devcoin users to do crowdfunding and whatnot, there is a plenty of creative uses. It won't significantly affect Devcoin blockchain unless becomes wildly popular. However, there might be a challenge in getting it to work on Devcoin chain, as devcoind is based on old version of bitcoind. (Right?)
- I'm going to request Devcoin bounties (shares) for this project, as it is an important open source project (IMHO)
- Developers can request to be paid in Devcoins (partially), in might be able to pay a bit more (e.g. out of Devcoin bounties), and BTC->DVC conversion can help Devcoin price a bit