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   7228

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.

AION to Unveil Future Plans

Foundation sold half the BTC and ETH, and it did it very well - at the beginning of this year
06 December 2018   185

The Aion Foundation, which is responsible for the development of the protocol of the same name and collected $ 23 million in Bitcoin and Ethereum on ICO in October last year, published a report in which it shared information about its financial operations. The report was prepared with the support of Deloitte, however, it cannot formally be considered an audit.

According to the Aion Foundation CEO Matthew Spoke, the foundation sold half the BTC and ETH, and it did it very well - at the beginning of this year. Having spent $ 10 million on launching its blockchain platform and opening offices in Canada, China and Barbados, the fund had assets of $ 14 million as of October 31 of this year, $ 5.8 million of which was placed in Fiat.

We’ve liquidated a decent amount of our bitcoin and eth that we raised as proceeds to make sure that we are stable in this type of period. As we continue to spend in our operations we’ll end up liquidating more bitcoin and eth over the course of the next few months.
 

Matt Spoke

CEO, Aion Foundation

The Aion protocol has already attracted active users, including the video game start-up ClanPlay, but Spoke claims that his company will continue to rely on hard currency.

The foundation has roughly 18 months of runway, Spock estimates, while developing his system to a level at which it can compete with centralized counterparts, such as Amazon Web Services, will take about five years. Aion expects to launch its first Java-based virtual  machine, thanks to which developers can use decentralized tools, by the second quarter of next year.

Spoke suggests that at this time his company will have to attract additional funding from cryptocurrency funds and accredited investors in exchange for their own tokens. His goal is to prevent the reduction of the team, which currently includes 61 people, and the operation of the Ethereum model of ConsenSys, a company sponsoring projects in its own ecosystem.

In the future, Aion intends to publish such reports on a quarterly basis and transfer data to the Messari network in order to increase the confidence of its tokens holders.