Vitalik Buterin spoke on the topic of safety and effectiveness of ICO

Coder from London created rules for ICO and creator of Ethereum shared his thought about it
29 June 2017   1789
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks
 

Ethereum

 An open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

Blockchain community tries to improve the ICO process to avoid technical and other issues happening, like recent Bancor ICO.

Matthew Di Ferrante, coder from London, created few rules for safe and convenient ICO process.

  1. The money raised be released all at once to the development team.
  2. Give investors the ability to set personal caps on valuation.
  3. Change of ICO during and the week before is absolutelly forbitten.
  4. Token resale by the investors is forbitten for 3 months after the ICO.

Matthew asked community's opinion on these rules and Vitalik Buterin, creator of Ethereum, replied to him.

Buterin liked the idea but also added:

  1. Token resale ban isn't good because it can lead to the "wrapped contracts";
  2. Market-driven killswitch is better than democraty-actived killswitch. To prevent malicious "draining" of the developers funds, he proposes the mechanism where tokens bought back for X$ were resold for the same price. 

Do you agree with these rules?

Yes, with all of them
0% (0 votes)
Yes, but only with some of them
0% (0 votes)
No, totally disagree
0% (0 votes)
Total votes: 0

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   67

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.