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| Original author(s) | Meni Rosenfeld Yoni Assia |
|---|---|
| Developer(s) | Chromaway Coinprism |
| Initial release | 2012 |
| Written in | C++ |
| Engine | Bitcoin (software) |
| Operating system | Cross-platform |
| Platform | CCP, Chromaway EPOBC, Colu’s Colored Coin Protocol |
| License | Open-source licenses |
| Website | www |
Colored Coins is an open-source protocol that allows users to represent and manipulate immutable digital resources on top of Bitcoin transactions.[1] They are a class of methods for representing and maintaining real-world assets on the Bitcoin blockchain, which may be used to establish asset ownership. Colored coins are bitcoins with a mark on them that specifies what they may be used for.[2] Colored coins are also considered the initial step toward NFTs built on top of the Bitcoin network.[2]
Although bitcoins are fungible on the protocol level, they can be marked to be distinguished from other bitcoins. These marked coins have specific features that correspond to physical assets like vehicles and stocks, and owners may use them to establish their ownership of physical assets. Colored coins aim to lower transaction costs and complexity so that an asset's owner may transfer ownership as quickly as a Bitcoin transaction.[3][2]
Colored coins are commonly referred to as meta coins because this imaginative coloring is the addition of metadata.[4] This enables a portion of a digital representation of a physical item to be encoded into a Bitcoin address. The value of the colored coins is independent of the current prices of the bitcoin; instead, it is determined by the value of the underlying actual asset/service and the issuer's desire and capacity to redeem the colored coins in return for the equivalent actual asset or service.[5][6]
- ^ Fujimura, Nakajima, Ko; Yoshiaki (1998). "General-Purpose Digital Ticket Framework".
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^ a b c Bamakan, Seyed Mojtaba Hosseini; Nezhadsistani, Nasim; Bodaghi, Omid; Qu, Qiang (2021-10-05). "A Decentralized Framework for Patents and Intellectual Property as NFT in Blockchain Networks". doi:10.21203/rs.3.rs-951089/v1. S2CID 241216569.
{{cite journal}}: Cite journal requires|journal=(help) - ^ Raszl, Ivan (2014-05-14). "Colored Coins and Coinprism takes Bitcoin to a whole new level". Archived from the original on 2014-05-30.
- ^ "What is cryptocurrency?". WhatIs.com. Retrieved 2022-09-28.
- ^ Aste, Tomaso; Tasca, Paolo; Di Matteo, Tiziana (2017). "Blockchain Technologies: The Foreseeable Impact on Society and Industry". Computer. 50 (9): 18–28. doi:10.1109/MC.2017.3571064. ISSN 0018-9162.
- ^ Çebi, F.; Bolat, H. B.; Atan, T.; Erzurumlu, Ö. Y. (2021). "International Engineering and Technology Management Summit 2021–ETMS2021 Proceeding Book".