Komodo to Bitcoin Cash atomic swap performed

New technology was used to purchase Bitcoin Cash for Komodo at BarterDEX platform
18 December 2017   1542

Atomic swap technology was used successfully again, now with Komodo and Bitcoin Cash. 

During the atomic swap, the buyer used Komodo to purchase Bitcoin Cash. The deal took place on the BarterDEX platform and ended quite quickly. It is expected that BarterDEX and Komodo will play a significant role in the study and development of swaps.

Komodo is a digital asset that aims for privacy-centric ideals and hopes to provide more fungible blockchain transactions. The cryptocurrency uses a consensus mechanism called Delayed Proof-of-Work (dPoW) which is similar to bitcoin’s PoW, but also uses a block notarization method.

KMD to BCH Atomic Swap Report
KMD to BCH Atomic Swap Report

Users note that this kind of exchange between crypto-currencies is attractive enough. An important factor is the lack of verification necessary for exchange on centralized exchanges. The fact is that atomic swaps are conducted exclusively on decentralized exchangers.

Now it is not known how the swap will affect the overall Bitcoin Cash ecosystem. Some suggest that this crypto currency can become a permanent participant in atomic swaps, which, against the backdrop of BarterDex's plans to refuse support for Bitcoin, looks quite interesting assumption.

Wyoming Passed Bill Exempting Utility Tokens from Securities Laws

The Wyoming House of Representatives has unanimously approved a bill exempting utility tokens from securities laws  
20 February 2018   78

On Monday, House Bill (HB) 70 passed the House 60 to 0 and will now head to the Senate. The bill exempts utility tokens from securities laws. This will attracts ICO’s launches to the state and will make the state a favorable environment for blockchain startups.

According to the bill, the utility token must meet three conditions:

  1. The token’s issuer must not market it as an investment;

  2. The token must be exchangeable for goods and services, for example, startups must have a working product or service at the time the tokens are issued;

  3. The token’s issuer must not actively make efforts to create a secondary market for the token by entering into a repurchase agreement or agreeing to locate buyers for the token.

It is important to note that there are four more cryptocurrency and blockchain-related bills currently moving through the Wyoming legislature.

HB 19 passed the House of Representatives on Monday and is now awaiting introduction in the Senate. The bill exempts cryptocurrency from the state’s money transmitter act.

HB 101 has passed its second reading in the House and, if it passes its final hearing, will then go to the Senate. This bill will allow companies to create and use blockchains for the purpose of storing records and conducting inter-office communication.

HB 126 has just passed its second reading in the House. It will allow the creation of series LLCs.

Senate File (SF) 111 passed a vote to introduce on Friday and is now headed to a committee hearing. This bill will exempt cryptocurrency assets from state property taxes.