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Open-Transactions To Introduce Multisig Voting Pools

 Mark M. Bravura  23/05/2014  Investment, News

"Without a doubt, the Open-Transactions open source framework is extremely robust as it currently stands. However an upcoming future release of Open-Transactions will have full Bitcoin multisig voting pool support. Reportedly, Bitcoin multisig voting pool support is already well under way. When asked when the projected release date was, an Open-Transactions Developer replied back saying that the tentative release would likely not be until around late summer or early fall, 2014. He further went on to say that Monetas (the commercial deployment of the Open-Transactions platform) wanted to make sure that it’s smoothly integrated and extensively tested before releasing the code to the general public."

Why Multisig Voting Pools Matter



"Open-Transactions Introduction

By Mark M. Bravura 05/01/2014 Introduction to Open-Transactions

Open-Transactions Introduction By Bernhard Müller Hug

In order to write about Open-Transactions I will elaborate on some features of Bitcoin first.

Bitcoin is a completely transparent protocol, a scarce resource, a community, a payment system, a commodity, a unit of account, a ledger plus a lot more.

It currently raises a benchmark for what is now called cryptocurrency or digital money.

Bitcoin behaves like a commodity in a sense that one cannot have a negative balance just like one cannot have a physically negative gold balance.

Within the Bitcoin protocol there is no way to lend or owe anyone Bitcoin and transactions cannot be reversed. The current world markets trade commodities and resources without physically moving them.

Therefore a way is needed to issue tokens which are denominated in these commodities. The system is based on trust in the issuer of the tokens. He has the commodity available according to terms agreed.

Conducting business involves trust and I don’t see that technology would ever make trust obsolete. Bitcoin is an ingenious invention and designed to securely hold and transfer value without relying on trust.

There are no intermediaries for transactions and there is a mathematically defined money supply. Bitcoin doesn’t suffice, however, to make a free market or a whole open and distributed economy.

Naturally there is some open source development around integrating a trust based economy with the currently available blockchain-based cryptocurrencies and their 2nd layer features like Colored Coins.

Enter Open-Transactions"


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