Gab is getting into crypto-world

The controversial social media intends to make an ICO
01 February 2018   1671

According to the SEC filing of February, 30th alt-right-leaning Gab intends to raise $10 mln in its ICO. The funding is going to be under Reg A+, that allows non-accredited U.S. investors to buy equity in startups.

As Gab CEO clarified, the company already created 2 mln tokens on Ethereum and is willing to sell it as Class B shares in the company, $5 a piece upon release. Because of the company’s ideology that many ICOs are “fraudulently raising funds” by bypassing regulations and standards, it decided to go fully in fiat.

The media brand also is planning to launch its own peer-to-peer social networking infrastructure Exodus. The company says it would allow to “offload the risks of routing data”. The architecture would rely on an existing distributed data protocol Dat and a content addressing system IPFS. It also considers such platforms as EOS and Blockstack.

The reactions on Twitter are all but welcoming:

@bitninja61o8 said «Lol Alt Right lol get real losers. The day I listen to these people for Credible Crypto news is the day I have lost my mind. Lol».

@EduEngineer said «Are there even enough alt-right to devote an online t-shirt shop to? C'mon, it's the crypto world. We can be the ones to not make every god damn thing political». 

@ali said «They’re not alt-right. And even if they were, the promise of $crypto belongs to all. Stop ruining it with shoddy journalism».

Algorand to Raise $60M in 4 Hour Tokensale

The project was founded by a MIT professor and a Turing Award winner Silvio Micali and is designed to solve the problems of scalability and consensus in the DLT
20 June 2019   2131

The blockchain-project Algorand, aimed at creating an “borderless economy ”, announced the successful completion of the  ALGO tokensale, during which it raised over $ 60 million, CoinDesk reports.

The campaign was held on the CoinList platform and was conducted in the format of the so-called “Dutch auction”, in which the highest price is first announced, after which it gradually decreases.

Simultaneously with the completion of the tokensale, it was announced the launch of the main network of the Algorand. The platform processes 1000 transactions per second with a delay time of less than 5 seconds, which, as noted, puts it on par with such major payment networks as Visa and Mastercard.

In his work entitled The Monetary Experiment: Algorand A Thesis For Algo Currency Markets, the head of Arrington XRP Capital, Michael Arrington writes that Algorand is a project where macroeconomics meets cryptocurrencies. He also notes that Algorand, as a blockchain-resistant Proc-of-Stake algorithm, is distinguished by a combination of advanced cryptography and a smart economic model.

The Algorand project was founded by a professor at the Massachusetts Institute of Technology and a Turing Award winner Silvio Micali. The main task of Algorand is to solve the problems of scalability and consensus in the blockchain.

As noted, the exact number of buyers who participated in the auction remains unknown, but because of high demand, the campaign lasted less than four hours. In total, 25 million ALGO tokens were distributed with a starting price of $ 10 and a closing price of $ 2.40.

Representatives of the project also stated that since tokens are distributed to customers' wallets and are not available on stock exchanges, there is no need to talk about any value of Algorand market capitalization.

Algos are being dispersed to wallet right now (for successful bids).  Therefore – there are non on exchanges. [Therefore, no market capitalization is available for Algorand, though some have speculated it sits around $6 billion.] Which is still a top 10.

Algorand Team

Earlier, the project announced plans to auction 600 million ALGO tokens per year, and in the first five years it is planned to release 10 billion tokens.

Also note that over the last year, Algorand raised $ 66 million in venture capital from investors such as Union Square Ventures and Pillar Venture Capital.