COSS Token Upgrades to ERC223

The COSS token will go through an upgrade on March 4, 2018, eliminating the problem of lost tokens, allowing developers to handle incoming token transactions and save energy
02 March 2018   748

COSS aims to resolve usability issues, related to virtual currencies, in an innovative way. The platform gathers cryptocurrency services and products into one portal allowing users to gain control over their finances, to manage transactions, to integrate merchants’ payments, to deposit funds.

At the end of February, COSS has reported that it is upgrading to ERC223 standart.

The COSS token will go through an upgrade on March 4, 2018. During the change, withdrawals and deposits of COSS token will be disabled for 24 hours prior to the swap and 24 hours after the swap. The COSS token will temporarily be removed from EtherDelta during this process, and also HitBTC will be informed to halt deposits and withdrawals while this is ongoing, but it will not impact ongoing trading.

Coss erc223 standartCOSS Announcement

Improvements:

  • Eliminates the problem of lost tokens which happens during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). ERC223 allows users to send their tokens to either wallet or contract with the same function transfer, thereby eliminating the potential for confusion and lost tokens.
  • Allows developers to handle incoming token transactions, and reject non-supported tokens (not possible with ERC20).
  • Energy savings. The transfer of ERC223 tokens to a contract is a one step process rather than a 2-step process (for ERC20), and this means 2 times less gas and no extra blockchain bloating.

The swap of the tokens will happen automatically and the users do not have to send the “old” COSS anywhere.

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Nishiawakura to Launch First Municepal ICO in Japan

Officials studied the possibility to strengthen the economy of the village thru the ICO since November 2017
19 June 2018   135

The authorities of the Japanese village of Nishyavakura from Okayama prefecture announced the start of the initial coin offering (ICO). Officials studied the possibility to strengthen the economy of the village thru the ICO since November 2017. This is reported by Bitcoin.com.

With the help of the ICO and its own crypto currency, the authorities hope to get money for "a sustainable regional economy in the future, providing the municipal authorities with new financial resources and developing the region with the help of starting investments."

1500 people lives in village, and 95% of area are occupied by woods. In the early 2000s, when all the municipalities of the country joined the city's districts, Nishyavakura managed to remain an economically independent village and since then the authorities have been seeking funds for its development.

In order to promote the creation of a sustainable region in the future, as a means for small local governments to secure new financing resources and to build up regions through upfront investment, tokens issuance, and the creation of virtual currencies, we will introduce fundraising through an ICO for the first time as a municipality in Japan.
 

Nishyavakura Statement

The local economy association will issue tokens called Nishiawakura Coin (NAC). The owners of coins will have the right to vote, which will allow them to participate in decision-making regarding enterprises in the village.