Lufthansa to invest in ICO startup

Lufthansa Group partners with a blockchain travel platform Winding Tree
11 October

Initial Coin Offerings have evolved into one of the most powerful means to gain money for the project. The ones held a successful ICO raise millions of dollars, make partnerships and gain popularity. 

Now, the airline giant Lufthansa joins the blockchain path and even invests in the ICO.

Thus, the Lufthansa Group is working closely with the Switzerland-based startup Winding Tree, that has dedicated itself to the reorganization of travel distribution and built on the Ethereum blockchain. The company believes, that, in the future, airlines, hotels and other travel service providers will offer their services on Winding Tree's platform, and companies interested in content will only connect to the B2B blockchain-distributed digital marketplace to present specific offers tailored to their customers' needs. This will result in a large number of new apps for travelers, who will then be able to book Lufthansa Group flights via the offer that best suits their preferences.

In order to finance the initial development and facilitate acceptance by suppliers, Winding Tree is launching a token sale of its cryptocurrency "Líf" on the 1st of November. To reinforce its confidence in the new technology, Lufthansa Group is participating in the presale after regulatory clearance from Swiss authorities.
 

Markus Binkert
Senior Vice President Distribution & Revenue Management Lufthansa Group Airlines

On top of that, as part of the partnership, Lufthansa will also be investing in Winding Tree as part of its forthcoming sale of a token called LIF, which is to be used for settlement and data transfer.

Ethereum network is still unstable

Byzantium had executed on Monday, but developers aren't ready to call the software transition complete
18 October

Organizations and developers are better off refraining from launching large projects until the Ethereum network is fully stable after the recent Byzantium update. This is said by the Gavin Wood, Parity Technologies head and reported by the Coindesk.

Since new versions of the software were released just days before the fork, much of the network has not yet been updated. So, at the time of press, slightly more than 25% of Parity customers updated, in Geth this indicator is slightly higher - about 59%. So, in total, the update was made about 45% of the network.

Another aspect that should also be taken into account is the short time for testing. In particular, the developers recalled previous versions of the software, discovering critical errors that could make the network vulnerable to DoS attacks or lead to incompatibility between nodes and, as a consequence, network sharing.

Therefore, the question of how safe the network is at the moment is fully justified and, taking into account what has been said above, remains open. This is exactly what Gavin Wood warned, recommending at this stage to refrain from launching large-scale projects.

In addition to the nodes that have yet to update, there is also a possibility that in the current Byzantium software there may be bugs that endanger the security of the Ethereum network. The most dangerous among them is a bug of consensus, in which nodes can not communicate. Its result can be the separation of the block-man into several incompatible chains.

As far as is known, at the moment developers are conducting extensive tests, trying to detect such bugs before they are active. As Gavin Wood says, if the network does contain such a bug, it will take several days to prove itself.

I don't think anyone believed the network was going to self-combust on block 4,370,000.
 

Gavin Wood
Head, Parity Technologies

The head of Parity Technologies is also convinced that if problems are discovered, the Ethereum development team will quickly release new updates designed to prevent any harm to the platform.