Irish Company Unveils World's First Colored Coins Web Wallet

Colored Coins is an advanced application of Bitcoin’s blockchain. The protocol is considered to have Bitcoin 2.0 properties, as it expands the use of Bitcoin’s blockchain. Colored Coins are tokens that are marked to represent real world assets. They can be used to prove ownership of cars, real estate, precious metals, etc., and are pretty easy to issue. While there aren’t very many cryptocurrencies that are Colored Coins, the ones that are colored offer some interesting features. The most common use of Colored Coins is for companies that wish to host an IPO. Setting up an IPO with Colored....

Coinprism is brining colored coins to Android users via a new mobile wallet it describes as the first crypto 2.0 standalone wallet. The Coinprism platform allows individual users and companies to create and issue colored coins, which can then be used as loyalty points or tokens to denote a range of physical and digital goods and services. Colored coins are bitcoins marked with certain properties to reflect digital or physical assets, and can also be used at various events for voting, tipping and more. Flavien Charlon, founder of Coinprism, explained the potential applications of the....

May 13, 2014 (Dublin, Ireland) - The Irish company who released the prediction market Predictious last year is now unveiling their brand new colored coins wallet Coinprism, as well as the Open Assets protocol (http://openassets.org). Open Assets is a new generation Crypto-protocol based on Bitcoin. At the core, Open Assets is simply an implementation of the colored coins idea. The concept is that the protocol takes a very small amount of Bitcoins, and "colors" them with an asset type and quantity, defined by an issuer. The assets can then be transferred through the Blockchain,....

Colored coins allow issuers to add an additional layer of value to bitcoins in a rainbow of different ways. Colored coins are part of an Open Assets Protocol, which means you can attach an additional value to bitcoins. If you want to be able to carry a stable amount of cash with you, but with the simplicity of transactions that Bitcoin offers, now you can. You can now have a colored coin equal one dollar, euro, pound… Since colored coins tie an additional value to Bitcoin, governments or banks can issue Colored Coins that represent represent fiat currencies, thus using the Bitcoin protocol....

Bitcoin is a useful way to exchange money, but what if you could do other things with it? If bitcoiners could use it to issue shares, bonds and IOUs, or even to create alternative currencies atop bitcoins, they could add even more value to this innovative cryptocurrency. Bitcoinx, a community wanting to "democratize finance," is hoping to facilitate just that, with a concept called "colored coins". Colored coins is a concept designed to be layered on top of Bitcoin, creating a new set of information about coins being exchanged. Using colored coins, bitcoins could be "colored" with specific....