Topic: MasterCoin: New Protocol Layer Starting From “The Exodus Address” - page 103. (Read 448462 times)

BitAngels,

I think a good update on Mastercoin is in order since I know many of you have jumped on board and are supporting the open source MSC protocol development.

Too Long Didn't Read: Funds Raised, First Coding Competition a Success, 3 Mastercoin Blockchain Explorers Launched, Mastercoin Clients / Wallets In Development, MSC to BTC Exchange Launched (http://www.buymastercoin.com/#what-is-it), Price of MSC More Than Doubled, Subreddit Launched (http://www.reddit.com/r/mastercoin/), Mastercoin Foundation Incorporated as Non Profit, and Mastercoin.org website launched (http://www.mastercoin.org/).   

Details:
1. As you know we raised 4,740 BTC ($600,000+ USD) as part of the 30 day funding effort for Mastercoin completed August 31st 2013.

2. First coding Competition for $25,000 USD in BTC and Mastercoins Launched (Complete Today October 15th 2013):
Bitcoin Talk Thread with tons of details on the coding done:
https://bitcointalksearch.org/topic/300-btc-coding-contest-distributed-exchange-mastercoin-developer-thread-292628
Github Repos:
https://github.com/maraoz/pymastercoin
https://github.com/maran/mastercoin-ruby
https://github.com/maran/mastercoin-wallet
https://github.com/grazcoin/mastercoin-tools

3. Blockchain Explorers and Mastercoin Exchange Launched (1,200 Mastercoin Transactions Already more every day):
http://mastercoin-explorer.com/
https://masterchest.info/
http://www.buymastercoin.com/

Mastercoin-ruby: A ruby library to parse MasterCoin data. Source: https://github.com/maran/mastercoin-ruby

    Decoda a Mastercoin data-address
    Decode a Mastercoin data-public key
    Encode data to an address
    Encode data to a public key
    Advise how to create a 'old school' transaction using sendmany
    Get the amount of coins bought via Exodus for a given Bitcoin address
    Get the amount of coins bought via Exodus for a given Bitcoin transaction-id
    Decode a Mastercoin transaction based on given Bitcoin transaction-id
    Create and relay a Mastercoin multisig transaction through Bitcoind


Mastercoin-explorer.com: A Ruby on Rails application to index all Mastercoin transactions and show other data. Source: https://github.com/maran/mastercoin-explorer

    Index all Mastercoin related transactions both Exodus payments and simple send transactions.
    Offer a public JSON API so others can easily parse this data without having to index everything themselves. Documentation here: http://mastercoin-explorer.com/api_docs
    Multi-currency support currently has real and test Mastercoins


Mastercoin-wallet: A (QT-based) Mastercoin thin-client implementation. Source: https://github.com/maran/mastercoin-wallet

    Uses the forementioned Mastercoin-explorer API to communicatie balance data.
    Only requires a private key with an existing Mastercoin balance to use.
    Saves keys encoded in config files.
    Does not require local Bitcoind/QT.
    Uses multisig approach.


4. Mastercoin White Paper Updated To Version 1.1
https://sites.google.com/site/2ndbtcwpaper/

5. The Mastercoin Foundation has been Incorporated and 7 Board Members Volunteered.

All in all its been a busy 45 days and the next coding bounty is coming up soon with a focus on the decentralized peer to peer exchanged using the Bitcoin Blockchain.

A big thanks to Ron, JR, Brock, Jonathan, Sam Yilmaz, Anthony and Mich for helping the project progress so quickly.

Best Regards,

David A. Johnston
BitAngels.co

Oops, good pickup.  Bug in transaction validity checking.


should be


I'll correct it now.

zathras:
What is the reason that this tx is invalid? (It is valid on the other 2 implementations).
https://masterchest.info/lookuptx.aspx?txid=9b7506074bab082a75943f3c67c353e27c4e2a926825aa08ebbf13e27eed1869
It seems that also your parsing says that there are enough funds:
https://masterchest.info/lookupadd.aspx?address=1GD6YyXnd7DKvfUKs22Fp3FSGuvK6n4F4j

If returnval > txamount Then 'ok - sufficient funds

If returnval >= txamount Then 'ok - sufficient funds

You already have them.

See:

http://wiki.mastercoin.org/index.php/FAQ#How_do_I_see_my_Mastercoins.3F
http://wiki.mastercoin.org/index.php/FAQ#How_do_I_send_Mastercoins.3F

Should MasterCoin do DNS?

I just noticed that NameCoin is having some serious problems: https://bitcointalksearch.org/topic/namecoin-was-stillborn-i-had-to-switch-off-life-support-310954

Obviously MasterCoin could do DNS. We'd just need a message for "name=IP address" to register a domain name (probably add a fee to discourage squatting), and the sending address would be authorized to rebroadcast with the same name and a different IP address as needed. Might as well support IPV6 while we're at it . . .

I would consider this feature low priority though, since my feature priority ordering is based on what will raise the price of MasterCoins the most, and this doesn't seem like a huge economic value to me . . .

Zathras, the insallation seems not so easy and I don't wanna spend time on it right now. Is it possible to do a brief tutorial/how-to install your software?

I'd be glad to beta-test it afterwhile !

Thanks! I am able to compile and build it now.

Yeah I can see there are some source resources like icons missing from the git repo.  I've done a commit which should resolve it.

As always please feel free to ask any questions & let me have any feedback, thanks!

Tachikoma:

I was trying to understand the compressed public key issue you described, and I checked your code:
https://github.com/maran/mastercoin-ruby/blob/master/lib/mastercoin-ruby/simple_send.rb#L29
It seems you always add '02' at the beginning, and you never use the '03' option.
Choosing '02' or '03' depends on odd/even characteristics of the data, and you could find an example here:
https://github.com/salfter/fillet/blob/master/hex2wifaddr.py#L193
I am not sure that this is the reason, but maybe it eliminates your voodoo rule.

I don't like this.  It discourages newcomers.  Tomorrow may bring a fourth brilliant coder who would like to get it a try.  However, she will be disinclined to try if grazcoin, zathras and tachi are all warm and fuzzy in bed together with solid jobs.  It is better to have the door wide open to people who want to enter and make it very easy for them to come in.

I am not saying the early guys don't deserve a great reward for their efforts - they do.  Also, they deserve whatever it takes to keep them going in the future.  But, lets don't put them on easy street while blocking out the path for others to join.  

Let's run another contest.  Make it independent of the features those three have conquered.  Those three continue their efforts (with pay) to complete them.  Those three are excluded from the new contest.  This assures that at the end of the contest, we have three new stars on the team.  

Giving these guys steady jobs now assures a high barrier to entry for newcomers and pushes them off to work on other projects.  We've got about 479 tasks to complete.  Let's form new contests which attract new talent while locking up that great talent we found last time.

While contest-form of development is good and healthy at early stages, I hope the foundation get convinced that the current developers are doing pretty well, so decide to allocate a fund to hire them (at least part time) to push things more effectively and more collective based.
By the way I should thank you all for the excellent effort, Tachikoma, zathras and grazcoin, very good work!
And my especial thanks to grazcoin team for their sensational new approach, wonderful