Webizing Bitcoin

Hi All

Just a quick progress update.  I've got a bit further in webizing bitcoin
crypto currency.  I've updated the wiki page here:

https://www.w3.org/community/webize/wiki/Bitcoin

You need to be quite familiar with bitcoin at this point to understand the
finer details.  But in a nutshell bitcoin is a public ledger based on
timestamped transactions.

The first part of webizing bitcoin was to translate all of the core
concepts to an ontology which can be found at:

http://w3id.org/cc

A transaction is marked up for example as follows:

https://testcoin.data.fm/.well-known/ni/sha-256/2hrfou161NVATnOKC27bYUZ4SrI9uu99kzaUQFEEn04=

This also has a 'coinbase' message that points to the description of the
coin, currently at:

https://testcoin.data.fm/trinity

The "genesis block" header verifies the data via a proof of work and can be
the basis to grow a new chain:

https://testcoin.data.fm/.well-known/ni/sha-256/AAAAAKytyJoRshg8ZTS47z8HFtiVWy8Uki7EP2dYhuw=

Which has 'mined' new coins into existence.  At the moment I also put a
current block from the bitcoin main net to ensure there was no pre mining.

These coins are for testing only and should not be traded.  All coins that
I mine will go into a faucet and will be distributed to people that have a
linked data webid and bitcoin address (mail me if you would like some, I'll
automate it at some point).

The next thing I'd like to try and build is a tipping robot to work with
Cimba etc. based on webcredits so that it is possible to tip other users
via a micro blog.  After that I'll be looking at distributed exchanges and
pay-for-tasks technology coming out probably in the next quarter.

This post probably will make very little sense to those that are not highly
familiar with crypto currencies, but I'll hopefully put together more
documentation soon!

Received on Monday, 24 March 2014 11:48:34 UTC