Bitcoin startup now banks on colored coins
Funderbeam, a Bitcoin company, is gearing up to launch the world's first syndicated startup investment trading platform which will use the colored coins to record trades. The news came to light when Urmas Peiker, who is the co-founder of Funderbeam, announced it while talking to IBTimes. This task is also aided by the pioneers of Bitcoin blockchain 2.0, ChromaWay, which happens to be one of the primary developers of the colored coins. Henrik Hjelte, Chief Executive Officer of ChromaWay stressed that"connecting the virtual tokens to real assets has a lot of subtleties". Explaining the....
Related News
Though by far the most visible, the recent debate over bitcoin's maximum block size isn't the only area where the technology's decentralized decision-making processes can result in impediments to further development. The colored coins community, for example, recently attempted to consolidate its efforts in a bid to encourage more developers to use the bitcoin blockchain as a vehicle for asset transfer. However, the attempt to merge the best of the sector's offerings to support this goal, started in late 2014, has ended without consensus. As a result, ColoredCoins.org today released a new....
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....
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....
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....