
Show HN: Create a custom app coin on the Bitcoin blockchain - barisser
https://coins.assembly.com
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barisser
Hi HackerNews,

I'm a Bitcoin Engineer at Assembly. I've built a Colored Coins implementation
on the Bitcoin Blockchain to track partner's ownership of products they build
collaboratively.

As cryptographically secure tokens, Assembly Coins can be transferred with the
same ease as Bitcoin with none of the currency risk. You can cryptographically
demonstrate your ownership over businesses, earn royalties, and be an owner
from anywhere.

Check out the API docs for some cool curl commands to get started. Or sign up
and get free Assembly Coins.

You can see existing the Assembly Coins distribution, wholly derived from the
Blockchain, here:
[https://coins.assembly.com/colors/39u6BdXu8e3aNU8yoMSsVHHvQy...](https://coins.assembly.com/colors/39u6BdXu8e3aNU8yoMSsVHHvQynLVuktZw)

~~~
gee_totes
Sounds cool! Just FYI, the search button on the upper left takes me to:
[https://coins.assembly.com/colors/null](https://coins.assembly.com/colors/null)
when I try to search something

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Oculus
Misread the title to be "Create a Custom App on Bitcoin Blockchain". I've been
dreaming up a framework which allows developers to create applications that
use a single point of truth that's not centralized. With my limited
understanding of the way Bitcoin works, it seems like a good system to model
after.

~~~
bitsweet
Hi Oculus

This API was created so that ownership of the apps built on Assembly _are_ on
the blockchain. We even support the option for you to receive your proceeds
from the profitable products in Bitcoin using this API. This isn't vaporware,
there are already _real_ products being built by a distributed on Assembly
using this.

disclosure: I work at Assembly

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JacobEdelman
This would be great except the 2 cent transfer cost seems high.

~~~
barisser
These are transaction fees inherent to the Bitcoin Blockchain.

But also 2 cents to transfer ownership is a lot cheaper than existing trading
fees.

~~~
JacobEdelman
True, but an alternative system can be built outside of the Bitcoin Blockchain
to feasibly do the same thing. (such as
[https://www.ethereum.org/](https://www.ethereum.org/))

~~~
barisser
Ethereum still involves transactional costs. One way or another you have to
pay for decentralized security. But the costs should be far less than legacy
systems.

Also because of network effects, it is probable that only one cryptocurrency
will dominate, likely Bitcoin. So it is convenient for ownership to take place
on Bitcoin and not in a competing altcoin. We'll see how things progress when
Ethereum comes out.

