What is a colored coin? | Bitcointalksearch.org

resUnioC

newbie

Activity: 14

Merit: 0

Quote from: gentlemand on April 30, 2015, 08:04:59 PM

Quote from: resUnioC on April 30, 2015, 07:15:24 PM

dont want wach video, but like to know what a colored coin is....
or is the topic to hard to find own words?

A colored coin is effectively a coin that has been turned into a token representing something else, be that a stock, property, whatever you want it to be. Once the coin has been transferred to another person so has the ownership of the item it represents.

http://www.coindesk.com/colored-coins-paint-sophisticated-future-for-bitcoin/

thanks man,
i assumed it somehow, this coin has nothing to do with a color itself...
maybe it is called colored coin, because of the technic to detect it again.

tyz

legendary

Activity: 3360

Merit: 1533

Colored coins are coins or tokens which are maintained within a already existing blockchain. One of the best examples is the NXT Monetary System that lets you create new coins which are maintained and secured by the NXT blockchain and baked by Nxt coins.

SirLolicon

sr. member

Activity: 322

Merit: 250

Sound Engineer for Hire

It's like another coin branched out from Bitcoin's blockchain.

People use it to create assets, just like Counterparty Tokens and NXT Assets

cryptojumper

full member

Activity: 154

Merit: 100

How do I get that colored coin wallet? Is this an upgrade to an existing wallet or it is like an altcoin wallet? Can I use it for storing regular bitcoins, or satoshies to be more precise Grin

?

Velkro

legendary

Activity: 2296

Merit: 1014

Personally for me, colored coin is complicated system build on top of complicated system which Bitcoin is :>
So no way it will be used, its hard to understand Bitcoin and there is absolutely no need to complicate it more.

Gibbs187x

full member

Activity: 126

Merit: 100

Moon

Quote from: sdmathis on April 28, 2015, 01:52:00 PM

I've heard people mentioning colored coins, but I have no idea what they are. Could someone please explain to me what a colored coin is? Thank you.

Colored Coins enable developers to create Smart Property on top of the Bitcoin blockchain. There’s no need to purchase extra coins – just use regular bitcoins to create and transfer assets. Explore new possibilities like advanced financial tools, smart contracts and peer-to-peer exchange over the Internet. https://www.youtube.com/watch?v=fmFjmvwPGKU

gentlemand

legendary

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Welt Am Draht

Quote from: resUnioC on April 30, 2015, 07:15:24 PM

dont want wach video, but like to know what a colored coin is....
or is the topic to hard to find own words?

A colored coin is effectively a coin that has been turned into a token representing something else, be that a stock, property, whatever you want it to be. Once the coin has been transferred to another person so has the ownership of the item it represents.

http://www.coindesk.com/colored-coins-paint-sophisticated-future-for-bitcoin/

resUnioC

newbie

Activity: 14

Merit: 0

Quote from: sdmathis on April 28, 2015, 02:22:05 PM

Quote from: Amph on April 28, 2015, 02:17:59 PM

this video seems to explain well what is it

https://www.youtube.com/watch?v=mzIzXgGbUfg

Thad explains it very well. Thanks for your help.

dont want wach video, but like to know what a colored coin is....
or is the topic to hard to find own words?

sdmathis

hero member

Activity: 546

Merit: 500

AKA The Rubber Monkey

Quote from: Amph on April 28, 2015, 02:17:59 PM

this video seems to explain well what is it

https://www.youtube.com/watch?v=mzIzXgGbUfg

Thad explains it very well. Thanks for your help.

Amph

legendary

Activity: 3248

Merit: 1070

this video seems to explain well what is it

https://www.youtube.com/watch?v=mzIzXgGbUfg

sdmathis

hero member

Activity: 546

Merit: 500

AKA The Rubber Monkey

I've heard people mentioning colored coins, but I have no idea what they are. Could someone please explain to me what a colored coin is? Thank you.

Topic: What is a colored coin? (Read 1053 times)