Ethereum Fog: ETH fork implemented

The fork of ETH blockchain Ethereum Fog was implemented earlier than it was scheduled and Binance and KuCoin exchanges announced support for the fork
18 December 2017   8038

Ethereum Fog is a fork of Ethereum Blockchain which was implemented on block 4,730,660, producing a new chain with the token ticker code “ETF” on December 14. Initially, the fork was scheduled to occur on January 1, 2018, but it was launched earlier than the planned date.

As it is stated on the website of Ethereum Fog, it uses the same consensus algorithm as the Ethereum, and aims to fix the problem of scalability, paving the way for a larger decentralized storage network, to create a decetrazlied world computing machine in the fog, and to build business partnerships for a large Fog ecosystem.

KuCoin exchange has announced its permanent support for all forked tokens and claimed that it has automatically taken a snapshot of all user ETH holdings and will issue ETF in a 1:1 ratio within 24 hours.

Moreover, Binance exchange has stated that the distribution of Ethereum Fog had been completed on December 17. Binance will announce the opening of withdrawals for ETF after the blockchain is deemed to be stable.

dOrg to Become The First DAO With Legal Status in US

DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract
13 June 2019   183

The decentralized autonomous organization (DAO) dOrg based on the DAOstack framework registered dOrg LLC in Vermont, USA. This was the first precedent in the United States, according to law firm Gravel & Shea.

According to the company, the blockchain-based limited liability company (BBLLC) has a legal status, which allows it to enter into agreements and protect the interests of participants in accordance with applicable law.

Note that a DAO is a company in which the centralized leadership and hierarchy is replaced by a smart contract. Decisions in such organizations are made by voting by the participants, which provides consensus.

dOrg asked us to help design a DAO legal wrapper after discovering the potential of BBLLCs. We believe that dOrg is now the first legal entity that directly references blockchain code as its source of governance. Its material operations and ownership interests are managed entirely on-chain.

Oliver Goodenough

Law professor, Vermont Law School and special counsel, Gravel & Shea

dOrg believes that they have made the first step in integrating the DAO format into the existing economy.

Some time ago, Moloch DAO attracted 1000 ETH from Vitalik Buterin, Joseph Lubin, start-up ConsenSys and non-profit organization Ethereum Foundation.