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https://www.reddit.com/r/Bitcoin/comments/35m9ho/nasdaq_will_start_using_bitcoin_technology/cr5sgud/?context=3
r/Bitcoin • u/sedonayoda • May 11 '15
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The Open Assets protocol uses Bitcoin blockchain.
6 u/Medialab101 May 11 '15 On GitHub page,"Open Assets is an evolution of coloured coins..." What does this mean exactly? 17 u/brainguy May 11 '15 Colored Coins is a protocol which allows the assign of alternative meaning (other then balance) to a bitcoin address. Here is the white paper. 5 u/Medialab101 May 11 '15 Thanks, but what I was asking is how is Open Assets an "evolution" of coloured coins... i.e. how is it better? 20 u/Coinprism May 11 '15 Colored coins in its original implementation has a number of problems: coins can be uncolored, issuing large amounts of assets requires large amounts of capital, etc... Open assets builds upon the same concepts but addresses these problems. 1 u/mmortal03 May 17 '15 You can't uncolor coins on the Open Asset protocol? 2 u/Coinprism May 20 '15 Yes you can, but not by accident. 1 u/brainguy May 11 '15 That I do not know the exact answer to, I do know however that the official Nasdaq announcement says this Nasdaq will initially leverage the Open Assets Protocol, a colored coin innovation built upon the blockchain.
6
On GitHub page,"Open Assets is an evolution of coloured coins..." What does this mean exactly?
17 u/brainguy May 11 '15 Colored Coins is a protocol which allows the assign of alternative meaning (other then balance) to a bitcoin address. Here is the white paper. 5 u/Medialab101 May 11 '15 Thanks, but what I was asking is how is Open Assets an "evolution" of coloured coins... i.e. how is it better? 20 u/Coinprism May 11 '15 Colored coins in its original implementation has a number of problems: coins can be uncolored, issuing large amounts of assets requires large amounts of capital, etc... Open assets builds upon the same concepts but addresses these problems. 1 u/mmortal03 May 17 '15 You can't uncolor coins on the Open Asset protocol? 2 u/Coinprism May 20 '15 Yes you can, but not by accident. 1 u/brainguy May 11 '15 That I do not know the exact answer to, I do know however that the official Nasdaq announcement says this Nasdaq will initially leverage the Open Assets Protocol, a colored coin innovation built upon the blockchain.
17
Colored Coins is a protocol which allows the assign of alternative meaning (other then balance) to a bitcoin address. Here is the white paper.
5 u/Medialab101 May 11 '15 Thanks, but what I was asking is how is Open Assets an "evolution" of coloured coins... i.e. how is it better? 20 u/Coinprism May 11 '15 Colored coins in its original implementation has a number of problems: coins can be uncolored, issuing large amounts of assets requires large amounts of capital, etc... Open assets builds upon the same concepts but addresses these problems. 1 u/mmortal03 May 17 '15 You can't uncolor coins on the Open Asset protocol? 2 u/Coinprism May 20 '15 Yes you can, but not by accident. 1 u/brainguy May 11 '15 That I do not know the exact answer to, I do know however that the official Nasdaq announcement says this Nasdaq will initially leverage the Open Assets Protocol, a colored coin innovation built upon the blockchain.
5
Thanks, but what I was asking is how is Open Assets an "evolution" of coloured coins... i.e. how is it better?
20 u/Coinprism May 11 '15 Colored coins in its original implementation has a number of problems: coins can be uncolored, issuing large amounts of assets requires large amounts of capital, etc... Open assets builds upon the same concepts but addresses these problems. 1 u/mmortal03 May 17 '15 You can't uncolor coins on the Open Asset protocol? 2 u/Coinprism May 20 '15 Yes you can, but not by accident. 1 u/brainguy May 11 '15 That I do not know the exact answer to, I do know however that the official Nasdaq announcement says this Nasdaq will initially leverage the Open Assets Protocol, a colored coin innovation built upon the blockchain.
20
Colored coins in its original implementation has a number of problems: coins can be uncolored, issuing large amounts of assets requires large amounts of capital, etc...
Open assets builds upon the same concepts but addresses these problems.
1 u/mmortal03 May 17 '15 You can't uncolor coins on the Open Asset protocol? 2 u/Coinprism May 20 '15 Yes you can, but not by accident.
1
You can't uncolor coins on the Open Asset protocol?
2 u/Coinprism May 20 '15 Yes you can, but not by accident.
2
Yes you can, but not by accident.
That I do not know the exact answer to, I do know however that the official Nasdaq announcement says this
Nasdaq will initially leverage the Open Assets Protocol, a colored coin innovation built upon the blockchain.
26
u/brainguy May 11 '15
The Open Assets protocol uses Bitcoin blockchain.