The LTB Network Forum


Trackable Tokens?

Back to Metacoin Central

Jump to bottom

Comments

dpc

Is there any crytpo-related tech out there that allows tracking of individual tokens? I know this removes the fungibility of a currency coin, but fungibility isn't what I'm after.

Lets say I want to track 100 tokens. I don't care where they go or who owns them or how many times they get transferred, but when they come back I'd like to be able to identify that specific coin and relate it to a coin that I sent out. Currently this could be done by creating 100 different Token types, but that seems like an excess of overhead. Just curious, any thoughts or suggestions?

0 likes
  • Cryptonaut

    I dont think there is anything like this yet, but I dont see why it wouldnt be possible. sounds like a new service idea!

    Permalink
    1 like
  • dpc

    @cryptonaut I dont think there is anything like this yet, but I dont see why it wouldnt be possible. sounds like a new service idea!

    I'd be interested if you or @adam would be willing tho share the breakdown of fees you've needed to pay counterparty for LTBcoin distribution and other tokens. Seems to me you guys are the reigning experts of actually using counterparty assets in a meaningful way. Fees will dictate usability for many projects.

    I know its .5 xpc for creating an asset, but after that the fees get fuzzy from my reading of the counterparty forum. Your real world experience would be helpful.

    Permalink
    1 like
  • Cryptonaut

    @dpc

    @cryptonaut I dont think there is anything like this yet, but I dont see why it wouldnt be possible. sounds like a new service idea!

    I'd be interested if you or @adam would be willing tho share the breakdown of fees you've needed to pay counterparty for LTBcoin distribution and other tokens. Seems to me you guys are the reigning experts of actually using counterparty assets in a meaningful way. Fees will dictate usability for many projects.

    I know its .5 xpc for creating an asset, but after that the fees get fuzzy from my reading of the counterparty forum. Your real world experience would be helpful.

    With counterparty (at least in its current form), you have to make a seperate transaction for every address you want to send to. Normally this costs like 0.0003 (0.0001 fee, 0.0002 used as dust payments for blockchain escrow). At that normal cost, it would cost about 0.03 just to send assets to 100 different addresses. Some of this is recoverable though.

    With some programming, you can configure the miner fees paid and also the dust payment sizes used which actually hold the counterparty metadata. Our system automates this whole process. Right now I believe we are paying something like 0.00008 per address we want to distribute stuff to.

    If you want to just pay out dividends though, there is a built in dividend (called "pay distribution") feature in counterparty, where you can just send it out with a single normal transaction fee. The complicated part comes in when you want to distribute tokens based off of something other than how many shares/tokens they already have (e.g a stock dividend versus our Proof of Participation rewards).

    Permalink
    2 likes
  • SilverBullet

    I think its a great idea but i just dont see to many people wanting to keep track of all those coins and over time it just become's a big head ache.

    Permalink
    0 likes
  • odolvlobo

    @dpc Is there any crytpo-related tech out there that allows tracking of individual tokens? I know this removes the fungibility of a currency coin, but fungibility isn't what I'm after.

    Keep in mind that there are no tokens, so there is nothing to track. If I gave you 1 token and someone else gave you 1 token, you wouldn't have one token and another token. You would have 2 tokens.

    I think the technology called "colored coins" is close to what you are looking for.

    Permalink
    1 like
Jump to top

Post Reply

Please Login to post a reply to this thread.

© Copyright 2013–2016 The LTB Network. All rights reserved .