Transforming The Bitcoin Economy: Master Protocol Smart Property Business Requirements

The last several months the Master Protocol developers spent laying the technical foundations of the Master Protocol, we now begin to add more focus on the design of smart contracts and smart property types.  With that we’re introducing an effort to create an open source business requirements document which will be used as the basis for further development of The Master Protocol specification.  But first some background. Continue reading “Transforming The Bitcoin Economy: Master Protocol Smart Property Business Requirements”

Transforming The Bitcoin Economy: Master Protocol Smart Property Business Requirements

Introducing Mastercoin Wallets – Decentralized Bitcoin and Virtual Currency Trading

Announcing the release of alpha version of various Mastercoin wallets at: www.mastercoinwallets.org
Try out a couple decentralized trades with your friends! Or join us at  the ##Mastercoin IRC Chat room.
If you haven’t heard about Mastercoin it is the native coin of the Master Prootocol, which among other capabilities, enables decentralized trading of virtual currencies on Bitcoin. Today on February 24th our development staff has officially released an alpha version of a Windows-based wallet where you can test out the concept of decentralized trading of small amounts of bitcoin with “Test Mastercoins” to get acquainted with how it works.
The very cool think about decentralzied trading is that it requires no log-ins or accounts at exchanges.  In fact the concept of a central authority for exchange operations does not even exist. Transaction and account data is stored on the Bitcoin Blockchain. You keep your secret Private Keys to yourself. The ultimate sense of security!
Trading Bitcoins and other virtual currencies can be dangerous if you have to choose to trust partners in far off lands; case in point is the very fresh drama enveloping MtGox. Keep in mind that Bitcoin is designed to let anyone send bitcoins without the need to trust third-parties.
Master Protocol extends the capabilities of Bitcoin for trading multiple virtual currencies using only the Bitcoin network. Completely trustless. We get complete control over our secret private keys which give access to our Bitcoins and other virtual currencies that Master Protocol enables.
Today our distributed team of developers make available a total of three wallets to use.  Today you can test out trading bitcoins for test versions of Mastercoin.  The countdown to March 15th begins when real Mastercoins will be able to be traded using these applications. Soon after that more virtual currencies will grow directly on Bitcoin.
Go to www.mastercoinwallets.org and pick one of the wallets and follow the instructions, for the Windows wallets you will need something like Bitcoin-QT running locally. Once you have either wallet running head over to Mastercoin Faucet and get some free Mastercoins and Test Mastercoins.
Introducing Mastercoin Wallets – Decentralized Bitcoin and Virtual Currency Trading

Date for the launch of the Mastercoin Distributed Exchange (with REAL MSC) is set!

Date for the launch of the Mastercoin Distributed Exchange (with REAL MSC) is set! March 15th.logo msc

From developer sync up meeting notes today.

The deadline for the DEx will be as follows:

  • item 1 February 15th – Draft User experience walkthroughs
  • item 2 March 1st – DEx implementation consensus
  • item 3 March 1st – Hard-core testing
  • item 4 March 1st – End-User workflows & User Interface examples decision
  • item 5 March 15th – dual launch of two DEx implementations
  • item 6 March 31st – criteria evaluation
Date for the launch of the Mastercoin Distributed Exchange (with REAL MSC) is set!

$500 Mastercoin Weekly Community Contest – Submit Your Project

Announcing a weekly contest for best community project as judged by staff of the Mastercoin Foundation.

How does it work?  Every Friday you or your group submit a project for consideration.

If you are the winner you will be paid $500 in Mastercoins or Bitcoins at the current exchange rate.  If your project did not get chosen don’t worry you can submit it again the following week.

What are the criteria? Continue reading “$500 Mastercoin Weekly Community Contest – Submit Your Project”

$500 Mastercoin Weekly Community Contest – Submit Your Project

Bitcoin Security Enforcer Needed for Mastercoin Projects – $1000 referral bounty

CC 2.0 License Wikimedia

We want someone to manage the security testing for Mastercoin clients. The job description would mainly consist of:

  1. Creating bounties
  2. Publishing them on various channels
  3. Evaluating the responses and coordinating fixes with the dev team
I started this as an hourly bounty ($40/hr plus dev MSC distribution), but it can may evolve to be more than that.
We will pay a $1000 (paid in btc) bounty if you refer the person who is hired.
Please send an email to dom (at) mastercoin.org
Bitcoin Security Enforcer Needed for Mastercoin Projects – $1000 referral bounty

Development Update 4: Master Protocol Wallet and Distributed Exchange Milestone

We have reached the halfway milestone in the DEx and Mastercoin Wallets 300 BTC bounty.  There is now a tabulation of the results based on feedback from participates and 150 BTC will be paid out as well as corresponding MSC soon thereafter.  This post covers the major accomplishments throughout this contest as well as the results and judging methodology.

Methodology

Milestone Results

Developer Results

Continue reading “Development Update 4: Master Protocol Wallet and Distributed Exchange Milestone”

Development Update 4: Master Protocol Wallet and Distributed Exchange Milestone

Coinify Everything: Dreams of Coinication, Part 2

We use a lot of fancy techno-words trying to describe a lot of the functions and possibilities with Bitcoin. Yet it is really simple.   Virtually anything can be turned into a “coin” using Master Protocol.

Our universe is filled with objects, real or imaginary.  Those objects can be transferred, they can also be transformed or grouped together.

We can coinify private and public objects by agreement; get them all aboard the Bitcoin boat.  Here are a few simplified examples to get you thinking about the possibilities:

Continue reading “Coinify Everything: Dreams of Coinication, Part 2”

Coinify Everything: Dreams of Coinication, Part 2

Coinify Everything: Bitcoin and Master Protocols, Part 1

A lot of people are trying to make sense of what Bitcoin is.

 CC BY 2.0, HarshLight
CC BY 2.0, HarshLight

Is it a commodity? A payment system? Is it money? Is it the antithesis to centralization?  Is it some way to build consensus? Ultimately, most people want to understand whether Bitcoin is something useful to them in their lives.

Continue reading “Coinify Everything: Bitcoin and Master Protocols, Part 1”

Coinify Everything: Bitcoin and Master Protocols, Part 1

First Bay Area Bitcoin and Master Protocol Meetup

The Mastercoin Foundation hosted its first Bay Area meetup on Wednesday evening, January 15, 2014, in Palo Alto at the offices of Perkins Coie LLP.The hosts, Taariq Lewis (Smart Property Lead) and Ryan Keenan (World Chapter Planter) declared the event a major success. There were over thirty Bitcoiners and Mastercoiners in attendance.

Continue reading “First Bay Area Bitcoin and Master Protocol Meetup”

First Bay Area Bitcoin and Master Protocol Meetup

Master Protocol Developer Update #3: Getting Ready for Bitcoin – Mastercoin Exchange Testing!

leftronics jan 2014Testing & QA Plan / Marv

Curtis & Faiz

MasterChest.info / Zathras

Mastercoin-Explorer / Maran and Jeffrey

Masterchain.info/ Grazcoin & Grimentz

Tutorial for masterchain.info‘s cool Hybrid web wallet (TM)

Recall that there is 100 BTC plus Dev MSC being given away just for testing, half of that will be given away in the next week!  Both the Mymastercoin Wallet from Bitoy, profiled in lat week’s update, and Grazcoin’s Hybrid Wallet are available for testing.  Additionally Marv Schneider is putting together a test plan.

Continue reading “Master Protocol Developer Update #3: Getting Ready for Bitcoin – Mastercoin Exchange Testing!”

Master Protocol Developer Update #3: Getting Ready for Bitcoin – Mastercoin Exchange Testing!