Coinprism: Coloured Bitcoin Exchange Shuts Down
Coinprism: Coloured Bitcoin Exchange Shorts Down.
Dublin-based Coinprism, a wallet service founded in 2014 as an early blockchain startup, is closing down, according to an alert on the company’s website. Both the Coinprism block explorer and the Coinprism API will be closed.
Users who hold funds in a Coinprism wallet are being advised by the startup to transfer their bitcoin and colored coins out of Coinprism and into another wallet or export their private keys.
After the launch of the development of the ERC-20 Ethereum driving many ICO tokens outdated.
Coinprism was a platform fueled by a colored bitcoin wallet for the trading of digital assets, founded by Flavien Charlon. In the email, Coinprism offers relief to its users, reminding them that bitcoin and colored-coin funds are independent of the Coinprism platform and instead reside on the blockchain. As a result, they will not disappear alongside the Coinprism exchange.
But the bitcoin and colored-coin funds can’t be accessed without the use of a private key, and as a result, Coinprism is imploring users to export them. Feb. 11, 2018 is the latest block transaction of the coinprism. When attempting to create a Coinprism wallet, we were brought to a page informing users of the impending shutdown.
Coinprism used “colorized” bitcoin to represent any asset that the user wanted to trade ranging from equity shares to a vehicle, gold or even a home on a blockchain-agnostic platform. The now-defunct company likened its color-coded digital coin system to the HTTP protocol of the internet, adding another layer to bitcoin that it said bolstered the applications for the cryptocurrency.
A Reddit user saw some red flags as much as a year ago when they were exploring various colored-coin companies.
Other anecdotal feedback from Reddit users was that Coinprism customer service was “lacking” and that developers had abandoned its Open Assets protocol.
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