DAO Hack May Affect Newbium (Eth) Token Distribution
The current high stakes attack on the experimental DAO framework will undoubtedly affect the upcoming distribution of Newbium Ethereum blockchain tokens. Newbium has taken a revolutionary path for its token distribution by having its coins listed to both the Nxt & Ethereum blockchains.
The Nxt blockchain distribution began on June 1st and is near completion. The Ethereum blockchain distribution was planned to begin within the next few days. However, with the current state of the Ethereum ecosystem due to the DAO hack, it may be wise to wait a few extra days before distribution of Newbium Eth tokens begins.
Although with the many updates being received from both the Ethereum & DAO dev teams it looks as though much of the damage is now contained. With the DAO experiment now on hold the work seems to be at the moment stemming the loss and retrieval of DAO investor funds.
Due to the fluidity of the crisis it is difficult to provide more guidance on Newbium (Eth) token distribution. At this point we will continue to follow the developments and updates from the Ethereum dev team. I am sure this situation is very uncertain for the Newbium community but our policy of listing on dual blockchains has been partially protected us.
Strength in decentralization which motivated our approach to listing on dual blockchains may bring the Newbium community added safety during this turbulent period.
This hack will not only affect both the DAO and Ethereum but all cryptocurrencies. It hampers broad adoption for everyone in this nascent space. During these trying times we must unite and work together for the good of all coins who make up this industry. All crypto communities must share the same burden to remove negative and false impressions while educating the general public.
The cryptocurrency industry has faced these systemic events before such as MT GOX and we have emerged stronger because of it. So even though it may seem that all is lost and the DAO experiment may be over. The industry will evolve becoming more resilient which is always good from a survival perspective.
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