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Support SLP Tokens

Discussion in 'Budget Proposal Discussions' started by ponysauce, Apr 3, 2019.

  1. ponysauce

    ponysauce New Member

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    Bitcoin Cash has recently started a new initiative for something called Simple Ledger Tokens. It is really picking up steam. Here is the specification: https://github.com/simpleledger/slp-specifications/blob/master/slp-token-type-1.md. It's just OP_RETURN data tied to inputs, very simple, but that's what makes it so valuable and great. Since OP_RETURN data is pretty much the same across all coins (versus Address formatting, etc), with the exception of some byte length restrictions, libraries are cross-compatible with multiple chains.

    These tokens are a bit different from Omni Layer tokens, as they can be more easily verified by SPV wallets (like Electrum). There is also an Electrum-SLP library available. They are more decentralized than Omni Layer as well, since Omni Layer requires special nodes.

    Setting up support for SLP tokens might not that much work, for someone who has worked with porting bitcoin libraries to Dash before. To run a full node for SLP verification, a masternode would only need to set-up BitDB, SLPDB, the rest.bitcoin.com API. They'd also need to integrate it into existing block explorers. This would be if they wanted to make use of the open-source work done by BCH -- it would also be possible to write SLP verification from scratch, just by looking at the specification. It might be wise to increase the size of OP_RETURN data to at least 80 bytes, or possibly whatever BCH uses.

    For a price, I can set-up SLP tokens on Dash. I am looking to open an SLP token based business across as many chains as possible. However, my past attempts at getting funding from dash for helpful projects (dashtrader.info in 2016) was not taken very well. In the end, I would just like SLP tokens to be implemented, it doesn't matter to me if I am the one to do it or not.

    I would really like to bring my token to Dash, so having support for SLP tokens would be a really good use of the budget system. It would bring a lot of users from other SLP token based currencies. It would also help me in my quest to overtake Ethereum.

    Please e-mail me at [email protected] if you would like to interview or discuss more
     
    #1 ponysauce, Apr 3, 2019
    Last edited: Apr 3, 2019
  2. ponysauce

    ponysauce New Member

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    I have submitted this proposal as a draft to DashNexus