Tag: Colored Coins

The Origins of Colored Coins On the 4th of December, 2012, a paper was released by cryptographer, mathematician, and President of the Israeli Bitcoin Association, Mr. Meni Rosenfeld. The paper was titled “Overview of Colored Coins,” wherein Meni explained a mechanism to take advantage of Bitcoin's “fungibility” by segregating a certain number of coins from the rest for special purposes. Meni argued that adding “specialty” to coins by segregating them from the rest could help form niche applications within the…

Dapps or decentralized applications are a part of the whole Smart Contracts ecosystem. When you think about it, the applications you use on your smartphone and computers are just generalized agreements between two parties: I agree to use a product produced by the developer who agrees to satisfy my desire and increase my utility. People realized that since blockchain is on a roll to decentralize everything, why not decentralize applications? And what better way to do that than using smart…