DigixDAO Offers DGD Token Holders The Option To Dissolve The $56 Million ETH Treasury

DigixDAO, a blockchain project which tokenizes gold on the Ethereum platform with the DGD token, made headlines on the 29th of November when they addressed the community saying they would offer an option to its token holders to either completely liquidate the treasury or keep making grants unless the project sees some headway. Interestingly, right after the announcement, the price of the native token DGD has seen a significant bump. DGD was trading at around $10 mark on 29th and currently, it has reached $19.

The blog post was written by the firm’s CEO Kai Cheng Chng, who noted that the community from now on will be given the option to vote whether they want to keep DAO’s Ethereum treasury intact.

Digix conducted its ICO in 2016 and collected around 466,648 ETH in public sales which were worth the value of around $6 million to $7 million. Cheng mentioned that they had 386,000 ETH in their treasury but DGD token’s market cap is a mere $39 million while if we calculate the value of the ETH held in the treasury it comes to around $58 million.

Should All ICOs Offer a Token Buyback Option?

The decision by Digix has prompted a discussion in the decentralized space on whether more projects should offer a similar exit plan for unsatisfied investors. The discussion seems legit in the light of the fact that a significant majority of projects which raised 100s of millions of dollars have either turned out to be a Ponzi scheme or they are not able to make any headway in terms of development on the project.

Ryan Zurrer, an investor himself welcomed the idea and believed that more people should call out such projects who are sitting on millions of investors’ capital without doing much with it. Nic Carter from Castle Island Ventures agree with Zurrer and called the move from Digix quite mature.

Ricky Li from Autonomy, a token trading company, however, does not agree with Zurrer’s point of view and explained that most of the ICOs raise capital to develop their project and bring real-world value, so it’s highly unlikely they would be keen on buying back their token using the treasury holdings. He said,

“ICOs are not really keen on buying back the tokens with their treasury holdings since they raise money to develop, not speculate on the token price,”

Many others like Mona El-Isa, CEO of Avantgarde Finance were undecided whether it was a good move or not. El-Isa explained why the same parameter cannot be used for every project and said,

“It’s hard to generalize on whether this would be a good or bad thing for space as each situation has its own unique characteristics. Some of these tokens will become very interesting token-activist opportunities. It’s a little bit surprising that we haven’t seen much of that yet.”

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Author: Hank Klinger

Lisk’s Lightcurve Blockchain Studio To Layoff 40% Its Workforce To Reduce Burn Rate

The blockchain project Lightcurve has made the decision to lay off 40 percent of its employees in order to enable moving forward in the market. It is worth mentioning that Lightcurve is part of the open-source platform Lisk, which is powered by a cryptocurrency called LSK and is among the top 100 largest cryptos in the space.

Lisk’s Lightcurve Blockchain Project Reduces Its Staff

Volatility in the cryptocurrency market continues to show its effects on different crypto and blockchain projects. The CEO and co-founder of Lisk, Max Kordek, said on Discord that Lightcurve had to fire 21 employees considering they had to reduce costs. The company had 53 employees that will now become 32.

They will not only help in reducing costs but they will also be focusing on keeping talent in the research and backend development sectors. Meanwhile, frontend development, marketing, and other operations would be downsized.

This staff reduction would also allow the company to become ‘more agile,’ considering a large degree of the funds were going to human resources. Lightcurve is currently based in Berlin, Germany, and the remaining employees will continue with their jobs at the firm.

This is not the first time that a blockchain and a crypto-related company decides to reduce its number of employees. Circle, for example, informed back in May this year that they were reducing staff by 10 percent. This represented 30 employees at that time.

Furthermore, the blockchain firm ConsenSys decided at the end of 2018 that they were reducing the number of employees to rebalance their priorities. After this lay off of around 10% of its staff, the company announced a new roadmap for ConsenSys and a change in its business strategy. And just recently they are parting ways with operations in India and the Philippines.

Chainalysis is another firm that decided to lay off 20% of its workforce to remain profitable while operating in the market. Huobi Global laid off Australian employees back in Feb.

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Author: Carl T

Block.one Set to Launch its Social Media Network ‘Voice’ on February 14, 2020

  • Voice, a social media platform built on the EOS blockchain, is set for release on February 14, 2020. Block.one, the firm behind its design, is optimistic that Voice will compete favorably against the likes of Facebook and Twitter. This innovation will mainly use tokenization to promote activity within the network and leverage its authentication features to eliminate bots which are a menace in existing social media networks.

The premier Voice version has integrated only English as the communication language for its beta. This test release scheduled for early next year will only be accessible to the users who are granted access. Its fundamental goal is to identify any weaknesses within the platform’s security and possible improvements on user experience.

It is notable that Block.one has invested over $30 million in funds for the social media network project. Earlier in the year, the firm spent a significant amount in building its brand through investment on Voice.com as the platform’s domain. Block.one plans to recover its capital by implementing an inflation tax for its native tokens on the EOS blockchain.

Voice will be an open-source project as per its protocol design by Block.one. EOS built tokens will fuel the network whereby participants like content creators will receive Voice tokens as a reward in place for likes on their creativity. Basically, this value creation by the Voice ecosystem is designed to promote a fair compensation for adverts.

So far, the Voice network has received an overwhelming subscription for its beta test according to Block.one. The platform is still accepting applications for on-boarding but noted that some features might be limited depending on the country of operation. In addition, the Voice team has assured that compliance oversight has been prudent to ensure they deliver a product within the scope of regulations.

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Author: Lujan Odera

SpaceChain’s New Milestone: First-Ever Demo of Blockchain Tech on the International Space Station

On Monday, December 5, 2019, community-based space and blockchain-focused platform, SpaceChain sent its blockchain hardware wallet technology to the International Space Station (ISS). As per the press release, this endeavor is the first ever ISS demonstration to date and was achieved as part of the CRS-19 commercial resupply service mission.

This is definitely a milestone for SpaceChain, as the blockchain hardware is said to be installed in Nanoracks’ commercial platform on Station, making it the third blockchain payload containing crucial information about a transaction sent into space by the team.

What happens once everything has been activated? The entirety of this move is said to establish receipts, authorizations, and retransmission of blockchain transactions. Moreover, SpaceChain’s multi-signature satellite wallet requires multiple approvals to complete transactions. This was done to not only secure the transfer of funds but also to make the process faster.

Speaking in regard to this venture is the Co-Founder and CEO of SpaceChain, Zee Zhang, who noted that the third payload launch is just the beginning of the possible development of a New Space Economy. It was further emphasized that:

“The integration of space and blockchain technologies has uncovered new possibilities and opportunities and we are very excited about the prospect of working closely with financial service providers, fintech and Bitcoin developers…”

According to Jeff Garzik, Co-Founder and CTO of SpaceChain, “Blockchain is the next major disruptor in space… Through integrating technologies, new paradigms that were once beyond reach can now be created and add exciting elements in the New Space Economy.”

SpaceChain was awarded funding from the ESA Business Applications and Space Solutions just months ago to explore different use cases for its satellite blockchain technology. Before this launch, SpaceChain was able to develop an open-source OS and flight-tested two blockchain nodes into space within a year’s time. To completely achieve the goal behind the third payload, and for the team to check it off their list of tasks, the testing is expected to done by early 2020.

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Author: Nirmala Velupillai

11 South Korean Firms set to Launch Blockchain Based Identity Certification Service

South Korea, a developed country known for actively promoting the use of blockchain technology in various sectors like education, finance and many more. Now a consortium comprising of 11 major companies in South Korea is now commercially offering a Blockchain mobile identity certification service, named Initial.

The use of blockchain for issuing important Identification related certificates would ensure the safety of the personal data of users. The group was established late this fall and comprises of major tech firms like Samsung Electronics, and three other major telecommunication operators as well as few top tiers banks.

The consortium was created with a goal towards improvement of digital information services that are not just safe but also very easy to manage.

How Would new Blockchain-Based Identity Certification Service Work

The consortium would debut a mobile app in 2020, which customers can upload and download several certificates. The identity the customer will not be kept with any centralized body but on a blockchain, which would ensure that only the owner of the account can access their personal info.

The consortium is planning to offer at least 70 digital certificates via the mobile application. The use of blockchain for managing sensitive personal data has seen many use cases in recent times, and more countries are looking to implement similar use cases to protect the user’s privacy.

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Author: Hank Klinger

Bitfury Launches Exonum Enterprise Blockchain As A Service For Corporations And Governments

Bitfury, a Bitcoin Mining leader based in Amsterdam, has launched yet another transformational blockchain product designed for corporations. The firm announced through its medium blog post on Dec 5 that they had released Exonum Enterprise to facilitate private blockchains on its network. This is an improvement to its existing Blockchain as a Service (BaaS) ‘Exonum’ which launched back in 2017 as an open-source platform.

The firm’s CEO, Valery Vavilov, said that the Exonum enterprise will not only improve interoperability but also network security and transparency. Bitfury has been working on Exonum enhancements since its launch two years ago; today the company boasts of a well-proven track record in blockchain scaling for enterprises. It is notable that this tech innovation placed Bitfury in Forbes ‘Blockchain 50’ earlier in 2019.

Exonum blockchain has attracted a number of users in the global arena since it was launched. The Republic of Georgia leveraged the Bitfury tech to register over 2 million land titles within its jurisdiction; they can be validated on the Exonum blockchain. Other significant players who have implemented this blockchain tech include engineering giant Aricent, Ukraine’s Auction State Agency, South Korean hospital, and Synergy University which has validated over 100k diplomas on the Exonum network.

Exonum Enterprise

This advancement by Bitfury will bring a new range of features to improve user experience and blockchain scaling options. Corporations will be able to launch private blockchain networks on Exonum Enterprise in less than five minutes. In addition, the BaaS is built to track blockchain deployments with a standby support tea from the Bitfury DevOps.

Interested clients can easily integrate their private blockchains with Exonum enterprise using the Bitfury Software Development kit. This ecosystem leverages the Exonum consensus algorithm to keep the network running in case of shortcomings like malfunctioning nodes. It is also anchored to the Bitcoin blockchain for upgraded security and data privacy. Finally, the Exonum Enterprise blockchain is designed to accommodate an average of 5000 Tps efficiently.

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Author: Lujan Odera

South Korea’s KT Corporation Is Going After Blockchain Tech with China Mobile

  • The new collaboration will be focused on integrating blockchain technology and 5G roaming.
  • South Korea’s Kakao Corporation has boasted that its own blockchain – Klatyn – is far superior to Facebook’s Libra.

KT Corporation is the largest telecommunications provider in all of South Korea, and they’ve decided to team up with China Mobile. In their new project, the twosome will be focusing on 5G roaming and blockchain technology, according to reports by The Korea Herald on December 5th. The launch of 5G roaming capabilities for Chinese citizens is scheduled by KT for late December.

While the companies prepare for the 5G launch, they are also working to establish a time-saving and cost-cutting blockchain system, which will be used in determining roaming charges for mobile customers. The Korea Herald reports that this new setup – known as the B.Link system – is made to “self-analyze roaming data from the two carriers and can process roaming charges on a real-time basis.”

About six months ago, KT had revealed that they’d already created their own blockchain network. Much like the collaboration, the KT Network Blockchain focuses on roaming, user identification, and other use cases. Prior to the announcement of the network, KT launched their Blockchain-as-a-Service, which helps South Korea firms access the technology with ease.

Both South Korea and China have been supportive of blockchain technology, as Cointelegraph has reported. After all, China hosted a publicity campaign in November, making  fintech a part of formal state policy. In South Korea, the Kakao Corporation recently stated that the new Klaytn blockchain has a much more advanced format than the controversial Libra token from Facebook.

A study published last year, referenced by CoinTelegraph, projected that blockchain technology stands to bring in $1 billion in added value for the telecoms sector in the next three to four years.

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Author: Krystle M

China Continues Supporting Blockchain Technology With New Investment In Hainan’s Free Trade Zone

Blockchain could receive support in China from Hainan Province. This region released the first blockchain pilot zone in the free trade zone of the province. This would bring talents, improve technological adoption and it would eventually help investment grow, among other things.

The goal is to test a wide range of blockchain solutions in different industries, including healthcare, trade, tourism and many others. Blockchain companies are also going to be receiving financing from a special fun of 1 billion yuan ($142 million) in order to expand in the region.

It is worth mentioning that the blockchain pilot zone was launched back in October 2018 in the Hainan Resort Software Community (RSC). The RSC is an internet industrial park located in the province. Until now, there are more than 100 different blockchain firms and companies operating there and offering services not only to China but also to other countries.

The goal is to create a free trade zone in the region by 2020 and become a totally free port in the next five years.

During the last few months, blockchain technology became a hot topic in China and around the world. The Chinese President Xi Jinping pushed for wider blockchain adoption a few months ago.

This generated a massive price increase in Bitcoin’s price, despite the fact that the leading cryptocurrency remains far from being legalized in China. There are other countries such as Belarus that have created crypto and blockchain hubs. The country established the High Technologies Park as a special economic zone that attracted several crypto-related companies.

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Author: Carl T

Blockchain Research: Major Competition from Bitcoin Mining Pools Pushes Bitmain Out

  • Blockchain is one of the largest companies in the cryptocurrency industry.
  • AntPool, BTC.com, and ViaBTC almost took up enough of the hashrate last year to create a 51% attack on the blockchain.

Mining is a critical component of Bitcoin, required to keep the blockchain updated and scaled as necessary. Recently, one of the largest companies in the crypto industry – Blockchain – decided to analyze the changes in how blocks are distributed within some of the biggest mining pools. Mining pools are used for individual miners to combine their resources, and the graph posted by Blockchain shows that the competition is still relatively consistent, and there’s yet to be a leader to emerge.

Last year, BTC.com – owned by Bitmain – was a top mining pool last year. However, through the last few years, the market share has been decreasing. Based on the data available through Blockchain’s tweet, it looks like the one-time leader is now only responsible for about 15.5% of the blocks mined for Bitcoin.

Instead, Poolin appears to be taking the slight lead, which only entered into the crypto mining sector in 2017, led by former employees of Bitmain. The pool didn’t start to rise amongst the many competitors until late last year, but it has continued this progress through 2019. Still, the competition is tight, and Poolin’s market share is 16.6%, but that hasn’t stopped some people from predicting that it will become a dominating pool for the market.

The third and fourth places are taken by F2Pool (14.8%) and AntPool (9.9%), respectively. However, it is worth pointing out that the only pool that has stayed consistent with their market share through the last two years has been AntPool, despite residing at the fourth place.

Even with this competition, unknown pools account for 24.7% of all blocks mined, which is a good thing, as it helps decentralize the Bitcoin network. Through the first half of 2018, the collective blocks mined between BTC.com, AntPool, and ViaBTC nearly reached 51% of the hashrate, which puts the whole network at risk for a 51% attack. As unknown pools account for a bigger portion of mined blocks, it is easy to stay away from this risk.

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Author: Krystle M

Ethereum’s Decentralized Finance (DeFi) Ecosystem is on the Rise, But Why is ETH Still Bearish?

Ethereum’s blockchain network has been on a fundamental uptrend with more Decentralized Finance (DeFi) launching within its ecosystem. The network is now hitting record highs of 2.7 million ETH; this activity is however not reflecting on the price of its native coin. The ETH altcoin is currently down by 1.75% in the past 24 hours trading at $146.20 as per coinmarketcap stats.

The ETH Network Fundamental Growth

Vitalik’s blockchain has survived the times despite criticisms from other communities like Bitcoin and DApp oriented networks. The Ethereum network has grown to dominate the DApp arena and ultimately secured a number 2 market cap position. Analysis within the blockchain space shows that the ETH network is pretty healthy based on its activity and hash rate.

A recent tweet by into the block highlighted the ETH network’s health status based on the past day. According to the stats, ETH blockchain had over 244k active users while the number of newly created addresses stood at 70.7k. It is also notable that only 23.9k addresses had left the network in a span of 24 hours.

Last month’s Ethereum performance summary further highlights the general improvement within the blockchain’s ecosystem. The use of DApps had significantly grown with ETH miners hitting over 9 million blocks. In addition, over 15 million ETH addresses had a positive balance. November also marked the launch of a multi collateral DAI by MAKERDAO; this DApp now accepts both ETH and Basic Attention Token (BAT) for collateralization.

ETH Still Plunging?

Despite the DeFi’s success, the general outlook of the crypto market has not spared ETH’s price. It’s been struggling to maintain support at $150 but the bears pulled it below this level as it slid further down this quarter. However, the last crypto winter was worse than the ongoing downtrend; ETH was trading at around $90 as the peak of 2018’s bear market. The price uncertainty is an inevitable consequence of speculation but the ETH fundamental growth and gradual roadmap realization still stands out.

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Author: Lujan Odera