Using the BCH network to issue coins has been a hot topic in recent months. In recent weeks, there have been a number of platforms for issuing tokens, such as Bitmain’s Wormhole protocol and Bitprim’s Keoken. This week, the developers of Cryptonize.it launched a multicolored coin multi-signature desktop wallet based on the BCH network.
A color coin wallet based on BCH
This week, the developers of the Cryptonize.it platform and Cashpay wallet released a new color coin protocol that makes it easy for anyone to issue tokens using the BCH protocol. Users can issue tokens that represent any asset, including precious metals, U.S. dollars, stocks, and coupons. With the launch of the Color coin Wallet, the Cryptonize team plans to issue a token called Cryptonized Cash (CC), which holders can use to get discounts on certain items on the Cryptonize.it platform. CC will be deployed in the coming weeks when it is integrated into Cashpay wallets, the protocol’s lead developer told Bitcoin.com.
Color coin wallet created by cryptonize.it. A tried-and-true token-issuing protocol that was used by many members of the community to issue coins. Joel Dalais, one of the moderators of the Slack channel BchChat, has issued a token called the “Bchchat Slack token” that people use to join chat rooms. In addition, BCH supporters have issued a token called Lightning Coins (LNT), which in particular can run on the chain and have lightning-fast transaction speeds.
BCH supporters create lightning coins based on the BCH network. News.Bitcoin.com had a brief interview with Ari, founder and developer of Cryptonize, who explained that while there are already many coin distribution platforms based on the BCH network, color coin wallets are “proven.” Ari says the protocol is being implemented for Cashpay Wallets, and his team is working with “existing SDK/ service providers” to integrate color coins to make wallets super simple and lightweight. He also explained that Copay wallet already has a color coin plug-in, which wallet operators can easily integrate.
Ari explained to news.Bitcoin.com, “We appreciate and look forward to all of the token projects that have been launched so far, but with a product as simple and proven as ours, it’s hard to beat.”
News.Bitcoin.com launched the Posternut Power token (PPT) on August 20. News.Bitcoin.com tested the Color Coin wallet to get a taste of issuing, receiving, and storing BCH tokens. We loaded 1,832 bits (about $1) of BCH into our wallet and wrote down a 12-word mnemonic for backup. After topping up, users can issue their own tokens, which cost about 23 bits. We built 100 Posternut Power Tokens (PPT). Once a token is issued, users can add a token icon or Logo, enter the token name, the total number of tokens created, and some custom metadata. In addition, we received some Ninja Cash from the Ninja Society.
Our first BCH token we received today was Ninja Cash as a test. Cryptonize.it’s colorful coin wallet is pretty easy to use if you know how to use a BCH wallet. Unlike the wormhole protocol, the platform is graphically friendly and only takes a few minutes to issue coins. However, like the wormhole coin-issuing platform, it is currently not compatible with SPV clients (such as mobile wallets). In addition, you can issue tokens with a wallet, but you cannot change an already issued token. However, the color coin wallet works very well, and if it becomes more compatible with Cashpay and other light wallets in the future, the app could become very popular.
Original link: news.bitcoin.com/a-bch-f… op-wallet-launches/