Why has Mastercoin seen so much attention? Essentially, the main attraction of Mastercoin is the sheer number and depth of the features that it brings. The following is a sample of what the Mastercoin specification intends for Mastercoin to support:
User-defined currencies – anyone can create their own currency on the Mastercoin network.
Decentralized exchange – the Mastercoin network itself serves as a fully-functional exchange between any two currencies in the Mastercoin network. Anyone can place an order on the blockchain to trade a quantity of one currency for another, and anyone else can match the orders and have the trade complete automatically without the order poster’s further involvement.
On-blockchain price feeds – trusted organizations can publish price data (eg. the value of one ounce of gold in USD) which can then be used in Mastercoin scripts
On-blockchain bets – it is possible to register a bet with another party that a given price feed will be above or below a certain value at a particular... [More]
Why has Mastercoin seen so much attention? Essentially, the main attraction of Mastercoin is the sheer number and depth of the features that it brings. The following is a sample of what the Mastercoin specification intends for Mastercoin to support:
User-defined currencies – anyone can create their own currency on the Mastercoin network.
Decentralized exchange – the Mastercoin network itself serves as a fully-functional exchange between any two currencies in the Mastercoin network. Anyone can place an order on the blockchain to trade a quantity of one currency for another, and anyone else can match the orders and have the trade complete automatically without the order poster’s further involvement.
On-blockchain price feeds – trusted organizations can publish price data (eg. the value of one ounce of gold in USD) which can then be used in Mastercoin scripts
On-blockchain bets – it is possible to register a bet with another party that a given price feed will be above or below a certain value at a particular future time. This essentially allows leveraged speculation on currency pairs, as well as hedging, so that users can store value in the Mastercoin network without exposing themselves to a high degree of currency risk from Bitcoin or Mastercoin volatility.
Savings addresses – a transaction from a savings address can be reversed within N days (with N set for each address) by a “guardian address”. This essentially provides an additional level of security for high-value savings accounts.
