Rules

Rules This part of the metadata is one of novel features of the new colored coins protocol which opens up the possibility of creating smart contracts with colored coins.

The current implementation of the colored coins protocol supports 4 kinds of rules:

• Fees
• Expiration
• Minters
• Holders

Each one of the above 4 rule types accepts a JSON object (or objects) with two keys

• params: Specifying relevant parameters to be discussed below
• Inheritance: Specifying how this rule is inherited upon transferring the asset

Fees

This rules specifies a fee and and a Bitcoin address to which we must pay the fee on every transfer of the asset.

TODO are we talking about satoshis or about asset units? is the address a Bitcoin address

The Fees rule can accept an array of JSON objects each specifying the following parameters:

params

• amount: The amount of units of the relevant asset that must be payed to the address
• address: The Bitcoin address to which the amount must be transfered