Creating Bitcoin Cash-Based Tokens with New Platform

August 21, 2018

Over the last few months the idea of Bitcoin Cash-based tokenization was the matter of heated debates: there have appeared platforms for creating new tokens like Bitmain's Wormhole, Bitprim's Keoken, etc. This week Cryptonize It joined them. The developers of the platform have launched a multi-signature wallet (Colored Coins) Bitcoin Cash.

When using tokenized assets customers will be able to issue tokens that represent almost everything including precious metals, dollars, shares and coupons. For instance, by starting Colored Coins wallet the Cryptonize team plans launching a token named Cryptonized Cash (CC) with its holder being able to use CC tokens for cut-rate exclusive products by Cryptonize.it. CC will be available as soon as it is integrated in Cashpay in the weeks to come.

The founder and developer of Cryptonize It Ari Kuqi explained, that despite lots of other token platforms that use bitcoin cash, the CC wallet protocol was field-proven. Ari asserts that the protocol is getting integrated in Cashpay, while his team collaborates with the existing SDK and service providers to take CC into account and make it light and handy. The founder of Cryptonize says that wallets have got plugins ready to support colored coins and wallet operators can easily integrate them.

Colored Coin wallet by Cryptonize It is user-friendly, especially if you have already dealt with any BCH wallet. When compared with Wormhole the platform has got easy-to-use interface, creating a token will take just some minutes. The project is not quite compatible with the amicable SPV client at the moment. In addition, you can create and issue a token with the wallet but can not change issuing with minted tokens. Still the CC wallet woks fine and has got radiant prospects given Cashpay compatibility and SPV client support are implemented.

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