Colored Coins Startup Colu Gets $2.5 Million Investment

Colu, a startup developing Colored Coins technology, has gotten a $2.5 million investment.

The round was led by Israel-based Aleph and US-based Spark Capital. Other contributing investors included Barry Silbert’s Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Opportunity Corp. and Box Group.

Colored Coins is an open source project that seeks to create new solutions based off of Bitcoin's Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term functionality. Bitcoin transactions can be "colored" to represent, for example, the transfer of smart property. A large array of applications are envisioned, including multisig functionality, micropayments and peer-to-peer exchange.

Colu is building API technology allowing developers to access Colored Coins functionality and to build distributed applications more easily. Developers can add blockchain-based approvals to transactions involving more than just digital currencies.

The funding will go toward to marketing the technology for real-world applications and growing the Colu team.

The round marks the latest investment in blockchain-based API technology. Two weeks ago, BlockCypher secured a $3.5 million investment for building out its “web services for blockchain."

For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.