Galaxy Digital Invested $30M into Everipedia

Everipedia is a project led by Wikipedia co-founder, Larry Sanger
09 February 2018   486

The billionaire Mike Novagratz' cryptocurrency bank, Galaxy Digital (GD), announced its first major investment. The Everipedia project, a decentralized branch of Wikipedia, attracted $ 30 million through the sale of shares to the Ecosystem Fund, reports Coindesk.

According to the publication, only strategic investors could take part in the round of financing. Everipedia plans to spend  attracted funds on the launch of its own P2P-network.

Note that the post of Director of Information in Everipedia currently holds the co-founder of Wikipedia, Larry Sanger. Last year, the project announced plans to move the entire infrastructure to the blockchain.

The company intends to create a censorship-protected system based on smart contracts. In addition, on the platform, crypto-currency tokens will be issued to encourage volunteers.

In the era of fake news and a general distrust in central entities like governments, corporations and the media the world stands to benefit enormously from a decentralized and uncensorable knowledge base.

Larry Sanger
Co-founder, Wikipedia

Previously a billionaire and head of Galaxy Investment Partners Mike Novogratz successfully collected the necessary amount of investment to launch Galaxy Digital - a crypto-currency trading bank, whose shares will be quoted on the Canadian stock exchange TSX Venture Exchange.

Electroneum to update its blockchain

Electroneum announced that new code will be released on May 30 as its blockchain reaches Block 307500
26 April 2018   50

Electroneum announced its fork is scheduled to take place at block 307500 on May 30. The fork is special as it will not result in two currencies: this is achieved by allowing all the exchanges and pools to update their software in advance. The update covers the following aspects

  • anti-ASIC code:

the implementation of such code will ensure security against any network attack

  • increase of transfer fee:

to ensure Electroneum blockchain withstands blockchain flooding, base fee will be increased to 0.1 ETN

  • block size increase before penalty:

the increase will allow miners to scale the blocks faster and get more transactions into a block

  • disabling of RingCT and Mixin:

disabling some privacy features with letting wallets remain private will get a less wait to fit a transaction into a block and a leaner blockchain size

  • 3 days mempool life:

it will ensure a reduction of the possibility of the returned transactions

Readers will be able to find the rest of the remaining details of the update here. As for the market indicators for Electroneum, here is what they look like at the moment of publication:

  • Average price   $0.024453
  • Market cap         $166,770,279
  • Volume (24H)    $1,234,100