Coinprism successfully used in bitcoin mining sale

We just received an email from one of our readers who contacted us to let us know some news. Coinprism, who we wrote about from the 31st bitcoin Dublin meetup, and which has build a coloured coin system to enable things to be transferred around the internet.

The sale, posted over at utilised the coloured coin system to successfully sell all of it’s hashing, 250 terrahashes in total, which was sold at $4.20 per coin (worth 10 gigahashes), and a maintenance fee of $0.0014 per GH/s per day. The sale of the batch, now closed shows how this method, built on the Open Assets protocol, can be used in a real way.

So we’re very happy that a team, which started in Dublin, has been able to successfully show that it can work. From reading into the terms of the sale, these owners can trade the coloured coins between themselves, or others, with the bitcoin address associated with the coins being the person who gets the reward for the mining, or to resell on.