Dev Update 12: Inventing Smart Property

Major progress was achieved this week by the dev team as they enter the thickest part of developing smart property creation for the Master Protocol.


Ingredients for Smart Property

Security Bounty Program

Wallet Support



Masterchain Updated

Mac OS Support

It is one thing to read the dev update cliff notes on progress made each week, but it takes an alchemist’s mindset to understand the problem solving that goes into making each implementation a definable leap forward in each of the dev team’s cycles.

There are four key ingredients that will result in a successful launch of smart property features later this month and the dev team is hard at work making sure that happens with precision.

  1. command-line issuance

    • how will we manage private keys?

    • how will users issue the “stop” tx?

  2. windows wallet for send and receive

    • how to display only some of many if not thousands of tokens?

  3. centralized exchange

    • Formalizing what integration/API needs to look like

    • Documentation for third-parties

    • Which version of mastercoin-tools will they use?

  4. correctly reflected smart property balances

This week Zathras made one giant leap for smart property kind by pushing out the first test transactions for New Property Creation via Fundraiser. In the coming days he and others on the dev team will continue ironing out every minute detail before achieving the creation of the first live fundraiser on the blockchain.

Security Bounty Program

Since the successful launch of the Mastercoin Foundation’s Security Bounty Program, over 10 issues have been reported and fixed including three critical security issues. The program has been a major hit thus far. The crowdcurity security program will be launched in parallel over the coming week.

Wallet Support

Providing technical support to all Mastercoin Foundation web property and wallet users remains high priority as always. This past week, support issues have been streamlined through Zendesk and tickets are being processed in record time thanks to the organized effort of all team members.

The Master Protocol Education website is constantly evolving and several issues that users may have can already be found answered at:


The Omniwallet team this week reached delivery of its 0.4 milestone. In this release smart property names and balances will be shown. The UI has been taking shape and based on the screens below, things are getting quite exciting!



Adam Chamely this week built and released an Omniwallet one click installer.


Zathras this week has added full smart property support in library (SP_Experimental branch). The library allows encoding and decoding of smart property transactions, parsing, identification, data structures/classes, etc. The first state processing engine for smart property draft has also been achieved. Further, Zathras conducted a full engine rewrite to bring all processing out of DB tables into local in-memory datasets which has led to more big processing performance improvements.


Grazcoin this week announced that has received a major upgrade with the parser code re-factored which contains the common parser like Omni has (the official code is located on the foundation’s github).

The parsing engine code is available at: (the default branch which is JSON). The exact commit number which runs on the server can be found on the bottom of the page.

In addition to the parsing engine there is the new Masterchain web wallet (early versions were in demo), which can be found as a separate project on:

The wallet is still under heavy development. Several of the users requests have already been addressed:

1. “security” issue of search string – now only a valid bitcoin address or txid are allowed. There was absolutely no security problem as a user could only manipulate his own browser (and it wasn’t easy), but since already 2 people noted that issue – it got blocked.

2. Nicer handling non existing addresses searching. – Addresses without MSC/TMSC were never shown on – now user get a proper message.

3. “Add address” button inside the wallet – user can add either the address or directly the private key, which auto generates the address. To really keep the private key – the wallet has to be open (password given).

4. Wallet’s password is kept under with 750 iterations (should be reasonable also for an older mobile device).

5. Private keys are currently encrypted using the wallet’s password (will become more secure soon – without backwards compatability, as cloud storage gets introduced).

6. Click on currency when visiting an address page, switches to the other currency view of that address. Same for all page types.

7. Avoid “no public key on blockchain” at least when wallet with private keys exists (currently implemented only for send and not for sell/accept). When no wallet exists, better text instructions are given.

8. Avoid caching and google translation.

9. Functional backup and restore of the wallet.

10. Sort addresses according to MSC/TMSC/BTC balances.

Mac OS Support

Joining the Mastercoin Foundation’s dev team this week as a new full time RBB is Sean G. He and Tomás will begin working on a Mac OS implementation of Mastercoin Tools. Further, Sean has begun working on a JSON API. More updates to come over the next several weeks.


Dev Update 12: Inventing Smart Property

4 thoughts on “Dev Update 12: Inventing Smart Property

  1. james ronald says:

    Hey, those gears in the photo won’t turn. They are locked in that position. They also aren’t meshed properly, which doesn’t matter since they won’t turn. Not a good symbol for this project which I’m very excited about by the way.

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