A Brief History of Colored Coins – What Made them Special

On the 4th of December, 2012, a paper was released by cryptographer, mathematician, and President of the Israeli Bitcoin Association, Mr. Meni Rosenfeld. The article 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 particular purposes. Meni argued that adding "specialty" to coins by segregating them from the rest could help form niche applications within the Bitcoin blockchain. By "coloring coins,"…