CHIP-2021-02 Group Tokenization for Bitcoin Cash

Hi All,

I understand the points made by Tom elsewhere that a CHIP is not a goal in itself. What drove me to partake in activities leading to this was that all the conversations I saw about Group Tokens seemed to be wasting energy because it was not clear what the conversation is about. I wanted to break what I saw as deadlock. Now we have a more concrete subject which I believe addresses many of the historical concerns about group tokens, because it has evolved since the time you may have last looked at it! I hope that everyone’s familiarity with the base concept has already been increased. I see this CHIP as a starting point, so we can better focus future discussions and get better ROI on everyone’s energy.

With this in mind I present you the Group Tokenization For Bitcoin Cash CHIP.

I want to thank @andrewstone for creating Group Tokens and accepting my help in bringing it forward, and everyone else for having patience with me even though I came in banging. This shows me the maturity of this community. You didn’t sneer me off, instead you constructively criticized me and offered me a way to do better, and for that I am thankful. This is the way.

I believe the whole of us could benefit from this development and that other proposals could, at this early stage in the upgrade cycle, start to think on how to use Group Tokens to enrich their proposals with it.

With this synergistic effect Bitcoin Cash could deliver a more powerful set of features than any single team could alone!

Best regards,
Anonymous Contributor A60AB5450353F40E

Quick update: I started working on a doc which I intend to attach to the CHIP. The idea is to explore some use-cases of Group Tokens which would be enabled by implementing the spec. I decided to start with a stablecoin example seeing how it’s one of more popular uses of tokens, and start with examples using only genesis, baton, mint, melt to demonstrate the power and versatility of group token approach. It’s hosted here:

The idea is to answer the “How to do X with group tokens?” kind of questions. This is just to let anyone interested know of its existence and I’ll simply update it in the repo as I think of new examples and copy examples from Andrew’s functional description document.

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I just have the wish that the part you labeled “technical description” actually described the tech. It now is a bit like a history of ideas, realizing how it didn’t work, and then how direction was changed.

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