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TWEET OF THE DAY
“We’re building an 8th generation blockchain that uses zero-knowledge sharded state channel child DAGs to achieve unprecedented scalability, security, and privacy.”
- Every new project. According to Dmitriy Berenzon.
THOUGHT OF THE DAY
💡 We’re trying something new. And tapping on our favorite thinkers in the community to share what’s been top of mind lately. First one’s from Airswap’s Rob Paone (aka Crypto Bobby) on the challenge with Security Token Offerings:
If you’ve been paying attention to the cryptoasset landscape recently, you’ve likely seen the narrative rapidly switch from companies running utility token Initial Coin Offerings (ICOs), to Security Token Offerings (STOs).
With the unclear regulatory landscape around Initial Coin Offerings, and the benefits of Security Token Offerings increasingly being socialized, many companies who would have raised funds through an ICO as recently as a few months ago are now in the process of launching an STO. That doesn’t sound bad though, right? Moving business practices from raising what was likely to be deemed an unregistered security to raising regulated and compliant security tokens?
Well, there’s one major challenge companies are facing when it comes to running an STO…
And you can find out what that is right over here.
Have an opinion on today’s Thought of the Day? Reply back to this email, and we’ll feature our favorite responses in a future issue.
NEWS OF THE DAY
💰 Former fed prosecutor Katie Haun’s co-leading a16z’s crypto fund. Jill Carlson puts it best when she says this is “one small step for crypto, one giant leap for traditional venture capital.” In addition to spearheading a16z’s $300m crypto fund, Katie serves on Coinbase’s board, helped launch the Justice Department’s first crypto task force, played a key role in the Silk Road investigation, and taught a course on cryptocurrency at Stanford.
📈 Release the Tether The stablecoin granted $250m this afternoon. We’re waiting to see if this’ll confirm the “Tether pump” narrative.
🛠 Bitmain’s mining the world. Mining pools powered by Bitmain-produced ASICs are quickly growing in hash-rate share. “Bitmain has already exceeded [46%], and it isn’t even devoting all of its computing power to Bitcoin mining, because it also mines Bitcoin Cash.” As prices fall, less efficient competitors are forced out of the mining business, which means more centralization.
💊 Merck + Blockchain. Merck publicly announced that it’s obtained a patent to reduce counterfeiting of drugs via blockchain tech. Side note: Merck’s also a corporate member of the Enterprise Ethereum Alliance.
💻 ERC-What number are we on? 1155. Witek Radomski, Co-Founder & CTO of Enjin, just released the proposal for ERC-1155, a new standard that improves upon the existing non-fungible proposals to make it easier for game developers to create more complex items easily. For those interested in seeing the EIP itself, here’s the link .
READ(S) OF THE DAY
📖 How many alts are simply following the market? Anthony Xie takes a hard look at the data behind altcoin prices, and how correlated they are to bitcoin and ethereum. Answer? Very. When you consider 6 coins account for nearly 70% of total crypto volume, it’s not tough to see why.
📖 Redesigning Web 3 UX with WalletConnect. A look at Web3 UX design standards and how Pedro Gomes plans to open the world of Dapps to mobile wallets without the compromise of a small screen or a restricted web view.
QUESTION OF THE DAY
“Where do you see the price of bitcoin by the end of Q2?” — Melvin Ab
Crypto Bobby was kinda close.
With just a few days left in Q2, we want to hear your thoughts. Will bitcoin bounce back this week after the Tether infusion? Let us know by sharing your thoughts on Twitter using our handy dandy Twitter social share (located under this sentence).
THING TO KNOW
A buzzword generally used to describe 3rd generation blockchains (blockchains 3.0). Interoperability refers to “metablockchains” that allow for communication between different blockchain networks. Being able to relay information from one chain to another addresses scalability and usability concerns for blockchains that exist today.