RAM It All: Rising Costs Are Turning EOS Into a Crypto Coder’s Nightmare

Compared to ethereum, EOS seems to have scalable dapps figured out. Users of decentralized applications (dapps) on ethereum frequently chafe at the fact that any action – sending a tweet, playing a card, breeding a cat – costs money in the form of “gas” and takes time, as miners hash out the new state of the chain. At first glance, EOS suffers from neither of these issues. There is no fee to send tokens or call a dapp smart contract. And in contrast to ethereum, even when the EOS blockchain is…

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The Fight Over Masternodes: The WTF New Way to Earn Money With Crypto

There’s a fight going down on crypto Twitter right now. But while that fact alone should come as no surprise, this time the bout is a bit more notable given it’s between a number of cryptocurrencies using so-called masternodes. While the term is flexible, generally speaking, masternodes are defined as computers on a network – staked with tokens – that perform additional work besides just helping run the software that governs a given cryptocurrency. The mechanism, while an older idea, is starting to gain some traction with significant projects such as…

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Korea’s Jeju Island Appeals to President in Push for ICO Hub Status

The governor of South Korea’s Jeju island is maintaining his push to turn the autonomous region into a blockchain and initial coin offering (ICO) free zone. On Thursday, South Korean provincial governors hosted a meeting with President Moon Jae-in to discuss job creation in the country. In his remarks, Governor Won Hee-ryong of the Jeju province proposed to the president that the island should be designated as a special hub for blockchain to allow companies to conduct ICOs, as CoinDesk Korea reports. Won argued that, by doing so, the region would…

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Binance Backs $32 Million Funding for Unicorn Founder’s Crypto Stablecoin

Yet another stablecoin is attracting big investors. Announced Tuesday, the founder behind a $1.4 billion startup unicorn called TMON is revealing he has raised a $32 million seed round to build a stablecoin called Terra. But while a number of startups have deployed stablecoins – cryptocurrencies engineered to track the price of another asset, usually fiat currency – Terra comes with a notable addition: an existing user base. Created by Korean entrepreneurs Danial Shin, who founded and chairs TMON, one of the top e-commerce websites in South Korea, the Terra project is…

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China Now Has a Way for the Public to Report Illegal Token Sales

A Chinese self-regulatory association is working to assist government agencies in cracking down on illegal initial coin offerings (ICOs). The China National Internet Finance Association (NIFA), a self-regulatory organization founded by the People’s Bank of China (PBoC), has added a “token sales” category to its platform that allows the public to report on potentially illegal financial activities. NIFA currently operates an online portal where individuals can file complaints or reports on suspect financial activities. Areas that have been on the association’s radar to date include peer-to-peer lending, internet insurance, equity financing…

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With Nearly $200 Million on the Line, EOS Is Building A Voting System

There’s an account on the EOS blockchain with $35 million worth of tokens in it that no one can touch – and its balance is growing constantly. At the end of EOS’ first 12 months as a live blockchain, this account (called eosio.saving) will be worth close to $192 million, assuming the recent EOS market price of $4.79. In theory, that money is being set aside to fund all sorts of initiatives that might be beneficial to the EOS community: building out new tech features, conducting security audits, sponsoring meetups, hiring…

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The Weirdest Prediction Markets on Augur Right Now

Do you believe in God? Would you put your cryptocurrency holdings on it? Augur, an ethereum-based platform for betting on the outcome of real-world events, aims to be a repository of crowd-sourced knowledge for journalists, investors and policymakers, as well as an effective tool for hedging against adverse outcomes. But it’s also become one other thing: a hilarious place to troll. Forums for questioning a higher power are just one of many markets that currently exist on the decentralized prediction market, developed by the non-profit Forecast Foundation and funded with one of…

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Crypto Startups Are Destroying Millions of Coins – And Investors Love It

Throwing away revenue? It might not make sense in conventional business, but don’t tell that to crypto entrepreneurs. Indeed, for some projects, economist Joseph Schumpeter’s notion of “creative destruction” is taking on a literal meaning in that they’re actively destroying their own money supply – and generating value for investors in the process. It’s turning out to be an unexpected benefit of the initial coin offering (ICO) model, whereby startups and projects fuel and fund their projects with a scarce digital asset they create. In short, these projects can use the token…

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Losing the Lambos: It’s Time to Get Serious About Crypto’s Big Questions

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. “Crypto in crisis.” Mainstream press outlets covering battered crypto markets have frequently invoked that phrase in recent weeks. For those of us who’ve followed the cryptocurrency scene for five years or more, the natural retort is: “When hasn’t it been in crisis?” I would suggest that crisis – or at…

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Can Security Tokens Save Crypto From the Bear Market Blues?

“Security tokens will save crypto.” That’s what Trevor Koverko, CEO of the crypto project Polymath, told CoinDesk at a blockchain technology festival in Toronto this week. There, tokenized dividends were the week’s hot topic, even despite the bear market in August in which bitcoin and ether prices dipped to below $6,000 and $300, respectively. But Koverko was far from alone in his views. Alan Wunsche, CEO of the crypto startup TokenFunder and co-founder of the industry consortium Blockchain Canada, told CoinDesk he believes tokenized assets are the future of capital…

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