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Show HN: Create a custom app coin on the Bitcoin blockchain (assembly.com)
34 points by barisser on Sept 30, 2014 | hide | past | web | favorite | 12 comments

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...

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

Why isn't the Assembly platform itself open-source (see: Gittip aka Gratipay)?

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.

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

"single point of truth that's not centralized"

Outside of the blockchain, what other examples are out there? It seems to me like trying to do something similar with Usenet, DHTs, IRC, XMPP, BitTorrent, or Freenet all have issues that don't really allow for this. Am I just mistaken? Please, enlighten!

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

These are transaction fees inherent to the Bitcoin Blockchain.

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

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/)

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.

hahah, ethereum.

Or you know, you could use practically any other system that doesn't try to be money (or en ethereum's case, an everything wannabe)

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