Take me to Bermuda
Issue: 034
EOS on the move
EOS took center stage this week as Multicoin Capital released their analysis and bet on EOS. If you haven’t heard EOS is a smart-contract platform, similar to Ethereum, using a Delegated Proof of Stake (DPoS) consensus algorithm. DPoS means that a certain number of validators are chosen to verify transactions and maintain the blockchain’s immutability.
Multicoin’s analysis sparked a debate across the community. Spencer Bogart argued that EOS is only platform-grade censorship resistant as opposed to sovereign-grade censorship resistant. App developers can build freely on top of EOS as they see fit and no central organization will be able to stop application development. However, a government, like say the US, could flex its muscle and ‘force’ the selected validators to censor an application that the government deems harmful. E.G. money laundering app, or secret document app. Government’s can’t do that against a PoW blockchain like Bitcoin.
TwoBitIdiot also disagreed with Multicoin, retorting that the EOS token doesn’t seem to have a purpose, the Ethereum community has a strong ethos and ‘sticky’ developer following, and EOS’s team is not as strong as the team behind Ethereum.
Multicoin responded to criticisms of its initial analysis, suggesting EOS will also be sovereign-grade resistant, but it is taking a different path to get there than Bitcoin and others and must currently prioritize performance vs. decentralization.
Naturally, EOS is worth more than SpaceX, despite not having launched their mainnet.
Shoutout to my homeland
Bermuda and Binance inked a deal $15M deal that allows Binance to set up its global compliance center on the island. Binance, a Chinese company and one of the largest digital asset exchanges in the industry, will set up an exchange in Bermuda subject to all of the local laws and regulations. There is intense competition between nations to be as regulation friendly as possible to attract industry participants. Bermuda outlined its ICO friendly regulation saying the ICO application process would require the disclosure of information about the company, the digital asset being issued and “the rights of the purchaser to assist the public in making informed decisions about participating in any proposed ICO.”
This certainly sets the bar for other regulators trying to attract industry leaders.
And yes this outfit is what Bermudians wear to work. Don’t judge. It keeps you cool (pun intended) in July and August.
Ethereum Projects Launch Mainnet
A couple key projects built on top of Ethereum have officially launched V1 of their products.
Golem launched their mainnet early last month, allowing participants to buy and sell compute power for CGI rendering.
Aion also launched their mainnet last week, allowing participants to connect blockchains together and begin creating a network of blockchains similar to a network of computers, re: the internet.
