jquinn



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NewbieActivity: 42Merit: 0 Re: MasterCoin: New Protocol Layer Starting From The Exodus Address November 10, 2013, 03:28:34 PM

Last edit: November 10, 2013, 03:50:58 PM by jquinn #1821 I had a quick question, which may have been answered before, but I could not find it:



What if the private key to the exodus address gets compromised or lost? Is there a plan for implementing a more distributed design which could indicate which transactions are mastercoin transactions?



EDIT: I suppose that same functionality would remain even if the key were lost/compromised, but there would then be two ghost addresses associated with an MSC transaction, and the reward mastercoins which are supposed to fund development on into the future would also be lost. I understand the utility in having a central location for the purposes of parsing the block chain for MSC data, but it seems too centralized to have just one address. Thoughts?

ripper234



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Ron Gross







LegendaryActivity: 1358Merit: 1002Ron Gross Re: MasterCoin: New Protocol Layer Starting From The Exodus Address November 10, 2013, 06:27:21 PM #1824

Sorry for all the extra work I'm causing you...



https://trello.com/c/6iy9kvwl/18-spec-for-gambling-aka-masterdice



Quote We can build a decentralized SatoshiDice quite easily.



Player1 bets against Player 2 on the result of the hash of block height N % 2. The blockchain locks in the funds and decides the winner.





https://trello.com/c/6P2o8QZS/19-spec-for-copy-trades-aka-mastertoro-etoro-clone



Quote Rough idea:



COPY(my_address, my_priv_key, copied_address)



From this moment onward, every operation done by copied_address is copied by my address, in proportion to our funds. Meaning if copied_address holds X MSC and my_address holds Y MSC, and copied_address now places a market offer to sell Z MSC, then my_address will sell Z*Y/X MSC.



This of course needs more details to account for multiple currencies and assets stored on the same address.



https://trello.com/c/MX0ZymMD/20-soec-for-events-feeds



Quote Anyone can publish events into the blockchain.



E.g. A soccer league publishes results of all soccer games..



(This is analogous of course to Price Feeds)



https://trello.com/c/6ZXtVWKz/21-spec-for-prediction-market-event-betting



Quote 1. Using Event Feeds, users can bet on the results of events.

2. A prediction market is phase two - once bets that were already closed can now be freely traded.



It also made me fear that we might put some serious strain on the bitcoin blockchain soon.

Think of what SatoshiDice did to BTC... now add prediction markets, copy trades etc.



So I also added



https://trello.com/b/uRutPlms/project



which is perfect for our upcoming



Quote A lot of people don't know this is possible, but it is. Mastercoin isn't a specific technology, it's a project that can switch backends/infrasturcture if needed.



I think we need to brainstorm about this a bit, and see whether this can help us combat some potential future scalability issues / changes in the Bitcoin protocol. This ticket is for creating a wiki article document this scenario.



We decide on a certain block height in the future. The decision is done via decentralized voting of course.



Then we start a new dedicated alt chain which is entirely premined by holders of Mastercoin. Tokens on the new chain are initially owned by private keys of MSC holders.

OK, a few interesting brainstorms today made me dream out more work for you guys!Sorry for all the extra work I'm causing you...It also made me fear that we might put some serious strain on the bitcoin blockchain soon.Think of what SatoshiDice did to BTC... now add prediction markets, copy trades etc.So I also addedwhich is perfect for our upcoming Documentation Week

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Co-founder of the Israeli Bitcoin Association Please do not pm me, use ron@bitcoin.org.il instead Mastercoin Executive DirectorCo-founder of the Israeli Bitcoin Association

zbx



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MemberActivity: 64Merit: 10 Re: MasterCoin: New Protocol Layer Starting From The Exodus Address November 10, 2013, 09:30:04 PM #1828 Quote from: jquinn on November 10, 2013, 04:12:59 PM Quote from: Tachikoma on November 10, 2013, 03:45:05 PM Although I think this is highly doubtful I also don't think it's a real problem. Yes the funds will be gone but most open source projects run fine without backing. It will still work wether somebody is in control of Exodus or isn't.



Good point. It will retain the crucial functionality of acting as a pointer to all the MSC transactions.

Good point. It will retain the crucial functionality of acting as a pointer to all the MSC transactions.

What about the bitcoins that go to the Exodus Address as part of every Mastercoin transaction? I'd rather not have that money go to an address controlled by any person or group of people (whose identities and motivations one can never be certain of). I mentioned this issue to dacoinminster a while back, and he said that he didn't think that very much money would come in that way; but even if it's only a small amount, it's a loose end, and in particular one that smacks of centralisation.



Note that Vitalik Buterin brought this matter up in



If one of the multi-sig outputs in a Class B (or C) transaction can be used to identify the transaction as a Mastercoin transaction, then there is no reason to have that output be spendable, right? What about the bitcoins that go to the Exodus Address as part of every Mastercoin transaction? I'd rather not have that money go to an address controlled by any person or group of people (whose identities and motivations one can never be certain of). I mentioned this issue to dacoinminster a while back, and he said that he didn't think that very much money would come in that way; but even if it's only a small amount, it's a loose end, and in particular one that smacks of centralisation.Note that Vitalik Buterin brought this matter up in his recent article on Mastercoin for Bitcoin magazine If one of the multi-sig outputs in a Class B (or C) transaction can be used to identify the transaction as a Mastercoin transaction, then there is no reason to have that output be spendable, right?

ripper234



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Ron Gross







LegendaryActivity: 1358Merit: 1002Ron Gross Re: MasterCoin: New Protocol Layer Starting From The Exodus Address November 11, 2013, 07:31:59 AM #1832

I've added many items that need documenting over the various channels



Please see updated information



As you might remember, the rewards will be handed out retroactively. You can start working on it now and capture all the good parts even before we launch it.



Documentation is an essential part in our outreach and war against FUD.

It will be a tremendously useful tool for us and will enable us to do much more effective PR and lower the hate level. I'd like to remind everyone that we're gearing up towards launching our Documentation Contest Week.I've added many items that need documenting over the various channelsPlease see updated information on Trello As you might remember, the rewards will be handed out retroactively. You can start working on it now and capture all the good parts even before we launch it.Documentation is an essential part in our outreach and war against FUD.It will be a tremendously useful tool for us and will enable us to do much more effective PR and lower the hate level.

Executive Director

Co-founder of the Israeli Bitcoin Association Please do not pm me, use ron@bitcoin.org.il instead Mastercoin Executive DirectorCo-founder of the Israeli Bitcoin Association

Luckybit



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Hero MemberActivity: 714Merit: 500 Re: MasterCoin: New Protocol Layer Starting From The Exodus Address November 11, 2013, 07:41:58 AM #1833 Quote from: ripper234 on November 11, 2013, 07:31:59 AM

I've added many items that need documenting over the various channels



Please see updated information



As you might remember, the rewards will be handed out retroactively. You can start working on it now and capture all the good parts even before we launch it.



Documentation is an essential part in our outreach and war against FUD.

It will be a tremendously useful tool for us and will enable us to do much more effective PR and lower the hate level.

I'd like to remind everyone that we're gearing up towards launching our Documentation Contest Week.I've added many items that need documenting over the various channelsPlease see updated information on Trello As you might remember, the rewards will be handed out retroactively. You can start working on it now and capture all the good parts even before we launch it.Documentation is an essential part in our outreach and war against FUD.It will be a tremendously useful tool for us and will enable us to do much more effective PR and lower the hate level.

This is something I can help out with, keep me updated on what needs to be documented and on the contest. I will contribute to this when/if I get the chance to. This is something I can help out with, keep me updated on what needs to be documented and on the contest. I will contribute to this when/if I get the chance to.

zbx



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MemberActivity: 64Merit: 10 Re: MasterCoin: New Protocol Layer Starting From The Exodus Address November 11, 2013, 01:47:27 PM #1837 Quote from: Tachikoma on November 10, 2013, 10:15:53 PM It can only be decoded by trying to decode the transaction as a Mastercoin transaction. If you would have to do it for every known multisig it would drastically decrease the ease you can identify Mastercoin transactions with.



Is it harder to identify a transaction as having a particular string in a multi-sig output than as having a particular string in a regular tx_out? What if MSC transactions were identifiable by the fact that the first public key in their multi-sig output was, except for the last byte, all zeros? Is it harder to identify a transaction as having a particular string in a multi-sig output than as having a particular string in a regular tx_out? What if MSC transactions were identifiable by the fact that the first public key in their multi-sig output was, except for the last byte, all zeros?

zbx



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MemberActivity: 64Merit: 10 Re: MasterCoin: New Protocol Layer Starting From The Exodus Address November 11, 2013, 03:11:13 PM #1839 Quote from: Tachikoma on November 11, 2013, 01:49:27 PM Then it wouldn't be a valid ECDSA point.



I thought that it was decided that any arbitrary 33-byte number can, by manipulation of the last byte, be made into a valid ECDSA point.



In any case, the public key would just have to be both obviously unspendable and still a valid ECDSA point. It could be, for instance, the point on the curve in question which, when in compressed form, has the lowest numerical value. (This is just another example.) I thought that it was decided that any arbitrary 33-byte number can, by manipulation of the last byte, be made into a valid ECDSA point.In any case, the public key would just have to be both obviously unspendable and still a valid ECDSA point. It could be, for instance, the point on the curve in question which, when in compressed form, has the lowest numerical value. (This is just another example.)