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Comment by flashdance | Hacker News Reader

This is being launched on the WAVES platform. It's pretty much colored coins with a built-in decentralized exchange. I guess that means you'll be able to trade your WhopperCoins for Bitcoin/Ethereum/Coinye West.

Some high-level details: http://www.waveswiki.org/index.php?title=Features#Custom_App...

Whitepaper: https://blog.wavesplatform.com/waves-whitepaper-164dd6ca6a23

I don't own any WAVES: this isn't an endorsement, just figured you guys might want to know how this works "under the hood". Honestly, it seems pretty sketchy. The whitepaper doesn't cite anything other than some github repos and the ethereum whitepaper. There's so many platforms out there that promise they're the best thing since sliced bread: I'd stay away if I were you...

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I haven't heard Coinye West in years. Biggest competitor to Dogecoin back in the day, if I remember correctly.

...until all the developers dumped their coins after they got hit with a lawsuit from Kanye West's lawyers.

Who could have seen that coming?

Can these be GPU-mined? I really want to mine some WhopperCoins and then go redeem them for a Russian burger.

I wish you were right and you could generate burgers with your GPU, but there's no such thing as a free lunch!

In super simplified (edit: and inaccurate) terms, a bunch of WAVES have been specially flagged as WhopperCoins. Any client that receives these specially marked WAVES know that they are WhopperCoins. Even if you could mine WAVES with your GPU (they're PoS not PoW) you wouldn't generate WhopperCoins, because your WAVES won't be specially marked.

This is the basis for how colored coins work [1] and a lot of other token platforms work on similar principles.

Burger King initially controls all 1 billion of the tokens, and is distributing them as part of a rewards program. The only way to get them is to buy food at BK, or to buy it from someone who has some.

[1] https://en.bitcoin.it/wiki/Colored_Coins

Edit: the user below me says that WAVES doesn't work like colored coins, but you still aren't able to mine them. I'd delete my post but I made a slick pun and I can't bear to take it down.

No this isn't colored coins; Its a first class asset on the WAVES network. The protocol itself supports user issued assets (aka cryptoassets). Colored coins is a hack for bitcoin-like protocols that don't support native assets.

I based my assumption on the FAQ, but I haven't looked into this network too much and it sounds like you have.

Thanks for the clarification, I guess I shouldn't trust wikis. ¯\_(ツ)_/¯

> What is Waves’ advantage over traditional crowdfunding platforms? Waves is a coloured coins blockchain platform with an integrated decentralised exchange. Our unique selling point...

http://www.waveswiki.org/index.php?title=FAQ

Someone needs to consolidate data about these cryptocurrencies in a wiki with the same standards/format as Wikipedia...

So, could this be used for an app game creator, to create an 'app arcade' for a collection of apps, using only the colored coins as 'app arcade' specific tokens?

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