Re: MasterCoin: New Protocol Layer Starting From “The Exodus Address”
For the marketplace ("Distributed E-Commerce") feature down the line, how does metadata like pictures and such descriptive info get stored?
Well, with Class B we're limited to a touch over 7KB per transaction so technically we could fit in a thumbnail or small image, but personally (just my view) I come firmly down on the side of keeping things as light as possible. At first thought I'd posit if we need images we store them externally (eg link to a http resource or secondary blockchain that's fit for purpose as a storage provider).
Quote
The size of a Mastercoin packet in a compressed public key is thus 31 bytes (33 bytes minus the first and last bytes for the key identifier (02) and ECDSA manipulation byte). The Mastercoin packet reserves the first byte for the sequence number, providing a total of 30 bytes per packet for Mastercoin transaction data. The range of sequence numbers in a Class B transaction is 1 to 255, providing for a total 7,650 bytes maximum actual transaction data storage per Mastercoin Class B transaction.
I would like to go further then that and actually use a sidechain for data like URLs, names, pictures and whatever. I haven't properly formalised how that would work yet but I think it should be explored.
Would someone have instructions on how to do this when using Electrum?
http://wiki.mastercoin.org/index.php/FAQ#Where_does_Mastercoin_derive_its_value_from.3F_Why_is_it_valuable.3F
Are you linking to the right anchor?