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nadams 2017-04-24 14:44:12 -07:00
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@ -39,7 +39,7 @@ Quorum of Control:: Multisignature constraints in scripts impose a quorum of aut
Timelock/Aging:: Any script clause containing a relative or absolute timelock can only be executed after its age exceeds the time specified.
Replication:: The decentralized storage of the blockchain ensures that when a transaction is mined, after sufficient confirmations, it is replicated across the network and becomes durable and resilient to power loss, data loss etc.
Replication:: The decentralized storage of the blockchain ensures that when a transaction is mined, after sufficient confirmations, it is replicated across the network and becomes durable and resilient to power loss, data loss, etc.
Forgery Protection:: A transaction can only spend existing, validated outputs. It is not possible to create or counterfeit value.
@ -63,7 +63,7 @@ Payment Channels:: Quorum of Control + Timelock + No Double Spend + Non-Expirati
=== Colored Coins
The first blockchain application we will discuss is _Colored coins_.
The first blockchain application we will discuss is _colored coins_.
Colored coins refers to a set of similar technologies that use bitcoin transactions to record the creation, ownership, and transfer of extrinsic assets other than bitcoin. By "extrinsic" we mean assets that are not stored directly on the bitcoin blockchain, as opposed to bitcoin itself, which is an asset intrinsic to the blockchain.