The items below provide more information about the CoinSpark protocol.
Is CoinSpark an altcoin?
No, CoinSpark uses regular bitcoins for all of its operations. No other tokens or coins are required for CoinSpark transactions.
Is CoinSpark centralized?
No, all CoinSpark operations are recorded in full on the bitcoin blockchain, which is decentralized and replicated thousands of times across the Internet. Any server-side functionality can be delivered freely by any entity, and we provide open source versions that anyone can run.
Is the asset contract an enforceable legal document?
The CoinSpark asset contract template was drawn up in close collaboration between our developers and a cryptocurrency specialist at RPC in London, with a separate US version localized by US lawyers. The goal is for the contract to be fully enforceable under contract law. Nonetheless, as per the Terms of Service, we recommend that you consult with your own lawyers to verify the contract’s suitability for your needs.
How much does it cost to transfer an asset?
All asset transfers, no matter the quantity, cost the minimum bitcoin transaction fee (currently BTC 0.0001 or 10,000 satoshis) plus another 10,000 satoshis sent to the recipient. The transaction fee is collected by the bitcoin miner who confirms your transaction. Note that some assets may have additional per-transaction fees, paid to the issuer, in units of the asset.
How do I back up my bitcoin and assets?
If you are using the SparkBit wallet, you should quit SparkBit, then back up the
SparkBit-Data directory. This contains your bitcoin private keys and information about your assets. Locations of the directory are as follows:
How is CoinSpark metadata embedded in bitcoin transactions?
CoinSpark makes extensive use of
OP_RETURN outputs, which were added in Bitcoin Core 0.9. For more information about the thinking behind CoinSpark, read the Bitcoin Colors white paper or view the Bitcoin 2.0 presentation.
Do I need to use coinspark.org to create CoinSpark assets?
Absolutely not. The CoinSpark protocol enables anybody to create CoinSpark assets on the bitcoin network by embedding the appropriate metadata in a bitcoin transaction. The CoinSpark library and accompanying documentation provide everything required to implement this yourself, using your own asset contract. This site provides a simple asset creation form and API to make this process easier for end users and developers.
Can I use the CoinSpark logo on my product or article?
You may use the CoinSpark logo in any product or service which uses any part of the CoinSpark protocol. In addition you may use it in any article, online or in print, which mentions CoinSpark. Click to download the logo in many useful formats and sizes. If you are unsure if a particular use is permitted, please contact us.
Who is responsible for the CoinSpark protocol?
The CoinSpark protocol is being developed by Coin Sciences Ltd, a UK company backed by leading angel investors, with a lean team of developers in San Francisco and Israel.