Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
Peter R
on 29/05/2014, 14:15:29 UTC
By "spin-off protocol" do you mean something akin to coingen, where you just input your specifications (or the code of the protocol you want to spin-off) and it produces the resulting protocol including initial coin distribution according to a specified BTC block? So that like it is easy to start your own coin right now, it would become easy to do a spin-off?

"Protocol" was a bad word choice.  We1 are (slowly) working towards establishing best practices for launching spin-offs, and we hope to develop some software tools for making this easier for developers.  I've received a handful of generous donation offers in comments and by PM, but so far I have not accepted any, mostly because I don't want to be the "central point of failure."  Perhaps we could create a 2-of-3 wallet that people could donate to, where the three keys are held by three trustees.  These funds could be used to pay out bounties to encourage work to get done.  I would match Andrian-X's offer and contribute 1,000,000 bits (1 BTC).   

(The technology may not be advanced enough yet, but it might be useful if donators received colored coins [e.g., using the new coinprism wallet] in proportion to their donations, that would allow them to vote on how the funds are spent.)

1By "we" I mean interested people in the community.  Hopefully we can include "you" as part it!