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killerstorm edited this page Jan 21, 2014
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1 revision
We cannot assume that colored coin wallet will be able to recognize any colored coins sent to it. Thus to make sure that transfers are safe, we need to make sure that it is only possible to send colored coins to a wallet which is ready to accept them.
This can be accomplished using color addresses, a new address format used by colored coins.
Simple format for color address: <base58-encoded 80-bit color set hash>@<bitcoin address>