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| stonecoldpat | kanzure: +1 love your archive website, the level of detail is impeccable | 01:20 |
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| jgarzik | What is the popular term for on-top-of-main-chain protocols like counterparty and mastercoin? | 09:30 |
| jgarzik | sub-coin? | 09:30 |
| bsm1175321 | I'm not aware of any common term. You should invent one. ;-) | 09:33 |
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| maaku | jgarzik: there's a not-nice but accurate 'parasictic consensus' | 09:35 |
| bsm1175321 | maaku: such systems generally lack any form of consensus. Each counterparty/mastercoin/colored coin could be interpreting the OP_RETURN data differently, and no one would know. | 09:37 |
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| maaku | bsm1175321: the same is true of bitcoin | 09:37 |
| maaku | you could change the consensus rules of your own node and no one would know | 09:38 |
| maaku | (except you when you are eventually forked off) | 09:38 |
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| gmaxwell | jgarzik: petertodd calls them embedded consensus systems. | 09:40 |
| bsm1175321 | maaku: The difference is that invalid counterparty/coloredcoin/mastercoin transactions DO get propagated, while with bitcoin they never get mined into blocks in the first place. | 09:45 |
| bsm1175321 | "overlay protocols" | 09:46 |
| maaku | bsm1175321: in principle it's the same though, and trivially fixable. just have the parasitic consensus transactions commit to a prior ledger state from the view of your node | 09:51 |
| maaku | then it would be exactly the same | 09:52 |
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| bsm1175321 | maaku: Indeed you're right. I've talked to a few of them about that, and AFAIK none of them are doing it. | 10:29 |
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| maaku | yeah, flexcap seems pretty simple to implement | 17:00 |
| maaku | started taking a crack at it, it'll probably be a dozen lines of meaningful changes plus a few code movements | 17:01 |
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| nanotube | hm, i call mastercoin et al. 'overlay networks', fwiw. seems accurate? | 18:15 |
| nanotube | so i guess close to bsm1175321's terminology :) and i like protocols better. | 18:16 |
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| --- Log closed Tue Sep 15 00:00:11 2015 | ||
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