Bitfury introduced blockchain to a mining company

Hut 8 Mining Corp. began trading under symbol "HUT"
07 March 2018   372

One of the largest listings happened yesterday, March 6: mining company Hut 8 Mining Corp. in Toronto is now traded on TSX Venture Exchange. The public listing looks to be a significant one as Hut 8 currently operates 100,000 machines with plans to engage 220,000 more terminals in the span of the coming six months. Such statistics makes Hut 8 the world's largest crypto-mining company whose shares can be bought publicly.

Today’s listing on the TSXV is a milestone for Canadian investors, who can now access one of the world’s largest publicly traded crypto-mines without purchasing the underlying cryptocurrency. In crypto-mining, scale is what determines success in the short term, but is also what allows mines to weather any volatility over the long term. Our exclusive partnership with Bitfury, one of the world’s leading full-service Blockchain companies, facilitates the kind of scale that will allow us to deliver ongoing value to investors.


Sean Clark

Interim Chief Executive Officer, Hut 8

Bitfury officially backs Toronto company and it will be represented with a symbol "HUT" at the exchange. Also in the announcement it was mentioned that a veteran venture capitalist and leading world figure in blockchain Bill Tai will lead the board of directors of the company.

Listing on the TSX Venture Exchange is a milestone for the growth of Blockchain and cryptocurrency companies. We look forward to continuing our work with Hut 8 as we advance this technology and its value in North America.


Valery Vavilov

Chief Executive Officer, Bitfury

Hut 8 intends to further deepen the cooperation with Bitfury by using its resources of hardware, software and technology to design low cost data centres and attractive capabilities.

7 Accounts blocked by EOS BP without Going an Arbitration

EOS is facing another issue just days after its mainnet activation, as the newly elected block producers have frozen 7 EOS accounts on suspicion of being stolen
19 June 2018   49

The backlash began as the block producers did go over arbitration, an integral part of the EOS’s governance system. The critics are certainly questioning the credibility of the project. Jackson Palmer, the creator of Dogecoin and a well-known person in the blockchain industry, questioned the very governance process constructed by EOS and the role of EOS Core Arbitration Forum (ECAF).

The structure of EOS’s governance has been parted into 3 distinct groups - block producers, arbiters, and token holders. This separation resembles the executive, constituency, and judicial, of any governed system respectively. 

On 17 June 2018, the top 21 Block Producers unanimously agreed to protect property that may have been compromised through phishing attacks or other scams where member’s private keys were compromised. The EOS911 initiative was created by EOS42 as a way to prevent victims of private key theft from having their tokens lost once the 72-hour unstacking period ended following the EOS Mainnet Launch. Once that period ended, the thieves would be free to transfer the tokens wherever they’d like, rendering futile any recourse available to the community at this time.
EOS New York, in their recent post

So, in this case, the block producers did not go with the arbitration, rather they only conferred with them. Then the post added:

Foreseeing the process that would be required to act, EOS New York, on a call with BPs and BPCs, requested an expedited review of the merits of the case from ECAF (EOS Core Arbitration Forum) who was also on the call. The idea was that if ECAF found merit in the evidence provided, a formal ruling from ECAF would ask the BPs to “freeze” the accounts in question until such time that a thorough and formal review of the claims could be completed.
EOS New York, in their recent post

This is not the first problem EOS is facing amid its mainnet activation, as within 48 hours of that, the network suspended because of some bug. Though the error only led to a 5-hour network blackout, that is surely not something the team would have expected.