Is it be possible to create multisignature addresses with safecoin algorythm?
I’m wondering how could escrow work in an ebay like commerce that uses safecoin exclusively?
Yes safecoin is multisig capable by default. Any structured Data is (even dns etc.) allowing groups to agree changes.
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Interesting! I hadn’t realised that. Does that apply to modifications as well as transfer of ownership?
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Yes in both cases. It’s very powerful and will allow really interesting applications etc.
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Very nice and very powerful! Mutating data by group consent at the storage level isn’t a concept I have considered before.
I can imagine lots of exciting possibilities with collaborative works, as well as more serious stuff like contracts, specifications and so forth. Access tokens which change with consensus would also be a boon for security.
I have a feeling something very useful will come out of this!
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Thinking about this further, this could potentially be a good way to moderate and blogs too. In fact, pretty much any data which is posted on a site owned by another.
For example, you could have 3 signatures:
- Site owner
- Contributor to site
- Site mediator (could be site owner or third party)
When someone posts, he data could be co-owned by all 3 parties. To change/move/delete the data, at least 2 of the above would have to agree to it.
This could be a really good way for distributed forums and such to self moderate, as each post would just be a structured data type.
Moreover, this would allow the actual data to be held in escrow in some cases. Perhaps a payment was to be made before the data could be put live by the site owner. The mediator would hold it in escrow, until he site owner had completed the payment (and presented the receipt for safecoin, presumably!).
I think his also makes the concept of colouring safecoins redundant. Why would you bother when you can do all these things with any structured data type?
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Yes all of that and much more, when people realise this is available then I believe the tools will amaze us all. This is where I would love to be spending time coming up with new stuff. As soon as possible I will. It’s really something that will open up all you have said and an ton more, like shared computation, intelligence and much more.
This is perhaps the largest part of the system for App devs and should allow them to go much further than copying existing apps etc. Great to imagine what they will come up with.
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