Will it be possible to create our own coin on top of this infrastructure ? What will be the best way ?
Thanks in advance!
Ulrik
Since the transactions are baked into the network to enable safecoin as a distinct data type (acts differently than other data), I can see something akin to what mastercoin built ontop of the existing bitcoin network as a way to do something like that from the start.
At some point, it could be determined that allowing alt coins to use the transaction managers in the network would be for the best and core devs could update the protocol, but I don’t see that happening too soon.
Since safecoin is also the fuel of the network (ie, you need to pay safecoin to get additional resources), it would serve a more specific purpose than other currencies transacted through the network.
bitcoin is transaction oriented, but safecoin is coin oriented (no open transaction to track).
Trying to have your own coin over safecoin or over SAFE network, something like masercoin over bitcoin, is possible however will be very very difficult to do so.
When “division” situation to be further considered, it becomes impossible to create your own coin without a support from Transaction Manager.
As during the division procedure, TM (Transaction Manager) will just simply copy the UDF (user defined filed, where your own coin protocol sits). This may total break your coin system.
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Has there been any more thought given to this?
One of my questions would be how much the network would have baked in either functionality or at least standards for additional tokenization, say of access to data, or access to private groups, company stock, etc.