It’s been another exiting and productive week. Mastercoin is blessed and priviledged to provide a platform for so many innovative projects
Today, I would like to introduce you to Crypto Next:
Crypto Next plc is an Isle of Man company that offers digital currency products starting with a multi-currency, multi-lingual exchange platform and extending to merchant and remittance services. It is the first company to launch an exchange offering multiple Fiat and multiple digital currencies, via a platform which is available in several languages.
Their mission is to bring digital currencies to grassroots level by designing a user-friendly system that is simple and intuitive. They also offer white label exchanges and merchant payment systems, thereby hoping to facilitate the widespread use of digital currency.
Crypto Next released a coin in July 2014, the Crypto Next Coin (CXC), based on the Mastercoin protocol. CXC is a token that can be used in lieu of fees on Crypto Next’s digital currency platforms, potentially saving users a fortune in trading fees.
Another Milestone closed out with a few feature improvements detailed below. But the majority of the work has been going into converting everything over to work with the new database infrastructure. The list of items to convert is steadily shrinking and while the highest priority items are now undergoing testing it’s always good to have more use cases/hands on the product testing it out. So we are inviting anyone who wants to come and start testing/using the Database driven Omni front end to do so. If you are interested please read the following information carefully.
Obligatory Warning Messages: We want to be explicitly clear on the following points:
This is a PreProduction Testing instance of the Database driven interface.
The interface may periodically be unavailable as new changes are rolled in/tested.
Wallets on this server may be removed when we move to the production service.
Please make sure you Backup any Addresses you don’t want to lose from this server.
Still interested in giving it a shot? Great, here is what we are looking for from you, the users:
Last week I attended the Inside Bitcoin Conference in London.
I must say – WOW – Mastercoin was heard, mentioned and discussed all over.
I met many teams that already launched and those that are going to launch their projects on the Master Protocol soon, such as Lazooz, Factom- Notary Chains, MerchantCoins, Maidsafe, API Networks, etc.,
Mastercoin earned its popularity with hard team work, great leadership, huge progress of the Master Protocol, ability to facilitate great innovative projects, providing an almost 24/7 support – thank you Mastercoin team!
People I met at the conference knew a lot about Mastercoin and therefore, the discussions were mostly focused on finding ways to cooperate, partner and facilitate the Master Protocol.
Today, I would like to introduce you to SovereignCoin
What is SovereignCoin? – SovereignCoin is a Silver Backed Coin
The mission of SovereignCoin is to harness the purchasing power of physical silver, to energize and mobilize this tremendous resource, by anchoring to it a trading unit called a Sovereign. A Sovereign is a digital representation of one gram of silver utilized by SovereignCoin holders to record and reconcile value. No longer need the purchasing power of silver be trapped away inside one’s vault.
A Sovereign from the SovereignExchange has already existed for many years but now with the advent of cryptocurrencies and Master Protocol SovereignCoin is about to be born to aid in the secure and seamless transaction of this digital representation of a gram of silver.
Every Sovereign is 100% secured by physical silver, allocated and insured with a private bullion depository. At any point, members may tender their Sovereigns with The Sovereign Exchange Treasury and take delivery of 99.9% pure investment-grade silver. Gold denominated Sovereigns are also available.
The website is still under construction, meanwhile, if you want to know more please visit:
As Adam noted a new Omniwallet instance based on this new release has been spun up, if you can get a minute to create an account and exercise a few moments on the site to test it out, we would greatly appreciate that (currently in-development, balances and sends should work though). We appreciate all bug reports and pentesting results, if you have a moment to write a few sentences describing your issue. Development on this item continues
If you haven’t had a moment to test Mastercore, it’s fairly simple if you’re running Linux/Ubuntu using the binaries above, but in the case you’re not, head on over and try out our Vagrant box at the link below. What the Vagrant box allows for is quick and easy spin-up and tear-down of the Mastercore code. It was developed in-house by our team and tested by yours truly. Easily the fastest way to have a running Mastercore node to test or deploy if you are using Windows or Mac OSX.
We’re working on test plans behind the scenes to rigorously analyze and identify potential faults and corner-cases for the Mastercore 0.0.7 codebase. This includes whitebox and blackbox testing, fuzzing of inputs, and unit testing. If you’d like to give feedback the link below, we’re calling it the “Crowdsourced Testing” approach.
A few notes about consensus… Within mastercoin-tools/Omniwallet a regression was found and fixed last week that incorrectly interpreted the buyer’s fee when parsing a buyer’s Distributed Exchange Accept. That fix is live and details/code can be found here.
I’m also collecting feedback on the future of Mastercore’s Metadex RPC layer. If you have any relevant feedback, are a trader, or wish to see some functionality in the RPC, please do comment and explain your motivations in the document below.
One of our primary goals at the Mastercoin Foundation is to provide innovative solutions for unsolved problems, and to suit what we build to the needs of those who wish to use it.
This past week was just that: what do those who are integrating Master Core need from the platform, and how can we provide that in a timely, robust manner? On Monday, the Foundation released version 0.0.7 of Master Core, which was promptly gobbled up and integrated by a variety of exchanges, asset issuers and payment processors for their upcoming Master Protocol launches.
In this release, we added p2sh multi-sig for sends and asset issuances, a new way to issue assets that provided more flexibility for issuers, and lowered the required Bitcoin transaction fees to 1/5th of where they were originally. Integrators and testers have been busy hammering against these features on Bitcoin Testnet and the Mastercoin Test Ecosystem in preparation for the full-fledged live ecosystem mainnet release next week.
A few notable enhancements that were provided were for two major projects that will be launching within the next few weeks, and laying the groundwork for other major projects that will be launched within the next few months. Those include multi-sig security and send-to-owners functionality, and firming up the spec for Savings Addresses while tidying up the remaining MetaDEx functionality.
Integrators have provided amazing feedback on how to revoke issued tokens elegantly, how to make it more opaque to the end-user that Bitcoin 2.0 projects are riding on top of bitcoins as they move across the blockchain, and what kind of administration needs that asset issuers need to properly manage their asset portfolio. Some of these things are protocol-level, while others are interface and presentation to the end-user.
The 0.0.7 release can be downloaded here for any and all wishing to play with the last sneak peek before the official launch next week.
The MetaDEx (meta-coin decentralized exchange) will be the next major feature in Master Core after next week’s launch, and professional traders have provided input on how best to interact with it, and Omniwallet is being prepped to provide an easy-to-use user interface for you and me.
A write-up on the merits and utility of the decentralized exchange is in the works, and the information such an exchange can provide with the assets planned for launch in the coming weeks will begin to demonstrate the power of decentralization and smart contracts.
The final touches on the Master Core UI will be completed this weekend, and a Bitcoin Core-based downloadable wallet will be made available for all Master Protocol users.
As usual, the development teams at Mastercoin have been hard at work polishing and testing these features so that they can have the greatest impact upon release. We’re excited that we’re on the home stretch, and we know that you’ll be impressed with what is delivered.
If you see the potential and want to join the journey, we firmly believe the more masterminds the better. Everyone is always invited to contribute, so please feel free to ask me anything, and to get involved. We’re getting more and more interested parties such as developers, issuers and innovators each week as we build momentum for the future of digital financial platforms. Come join us.
After a very busy month of development with countless hours spent testing, debugging and sorting through data we have our new back end powerhouse, OmniEngine. Over the past 36 hours these 1900 lines of code have been running smoothly. Continually checking Mastercore for new blocks, processing all new Mastercoin data and putting it into our database (stats pictured) for use by OmniWallet. While going through our own integration tests we also identified and reported a few important bugs to the Mastercore team. They have worked diligently to update and fix these and they have been rolled into the most recent tagged release (If you haven’t checked out Mastercore yet you should take a look).
What benefit is an updated back end with out a matched front end? Just like a coin we’ve got a flip side to our story. OmniWallet’s front end is also currently having it’s API endpoints updated to use data from the database. At present we are about 40%-50% complete with this process. We have spun up a new instance of OmniWallet that is using the database data for the updated components and are testing them to ensure accuracy. Once the API updates are complete and all testing is done we’ll start importing encrypted wallets into the db and begin the new servers preparation for release.
Mastercoin is an amazing foundation that is being adopted and implemented by innovators all over the globe. As time goes by, this fact is just getting more and more reinforced.
The Master Protocol became the platform for asset-backed tokens. reward-backed tokens,reputation-backed tokens. Idea-backed tokens and many more.
Would you beleive that the Master Protocol can support projects that expertise in Life Science R&D?
Now is is clear that Innovation and thinking out of the box has no limits and we are happy to be the fertile ground for that.
Today I would like to introduce you to the Spacelite project – Life Science R&D
SLC- Spacelite is an asset backed token, each SLC is backed by 100 grams of SpaceLite, a highly medicinal potassium-oxygen based alkaline electrolyte mineral for human consumption.
SpaceLite is a Life Sciences company that continues to R&D natural life extension nutrients & technologies. It produces a unique formula that is simply added to water, enhancing your training ability by giving a boost of natural elements, which increase muscle development and reducs lactic acid in conjunction with a series of other health benefits.