As we are exiting 2016, we are very thankful to all the people and organizations who have supported the Internet of Coins project this year. We have a few announcements, and we´ll make them. Next weeks in 2017!
For now, we wish everyone a wonderful New Year´s Eve and... you may want to keep tabs on the Cyber.fund Radar ;)
Greetings from Joachim, Amadeus, Jelle, Steffen, Sergey and Robert
The Internet of Coins project is proud to announce a joint cooperation effort between programmer Aymeric Vitte and the development team of Internet of Coins. After a technical review of the latest developments in distributed networking technologies, the Peer Shared Mesh technology pioneered by Vitte came out as the foremost candidate and his protocol specifications are seen as an excellent basis for implementing our own network topology. In this way, Vitte's ground-breaking work on distributed network technology will be extended and implemented into the cryptosphere.
Internet of Coins developer Amadeus de Koning explains: "The partnership with Vitte is an important step in realising the ambitious goal that Internet of Coins has set for itself, which is to unite cryptocurrencies in a fluid exchange network, without reliance on trusted third parties, such as exchanges, that at present form key points of failure in the crypto ecosystem. We believe exchanges have validity as cryptocurrency marketplaces, but as stores of wealth they have quite a poor track record. Therefore we see a need for supplemental mechanisms of exchange that are less vulnerable to trust issues, yet able to cross the boundaries between various blockchains."
Aymeric Vitte, lead developer of the Peer Shared Mesh (peersm) technology and CTO at NAÏS, comments: "I am happy to see the adoption of the peersm technology in a cryptocurrency application. This will form another example of a field in which the reliable and open standards of peersm can be applied. We will be working together with the Internet of Coins to integrate, modularise and further develop the peersm technology stack."
First of all, we wish you all a wonderful 2016. 2015 has treated us well. Thanks to advice from Startup Bootcamp and Holland Fintech we have slowly been growing. We welcome new team members Sergey Kazenyuk and Steffen Hoffmann and thank them for their contributions to the client! The SIDN foundation has been very supportive as a partner as well, in addition to their support via the grant we were awarded in August.
As a decentral open source collective, it is good to have a stable foundation where upon each of our contributors can build freely. For development, these are the internal Git and testnodes, which provide means to an end. Regarding other areas a solid basis is required as well. For this, we got in touch with the Dutch NLnet Foundation.
Michiel Leenaars, Director of Strategy at NLnet:
“Digital payment systems and the internet are a great match, but we are at an early stage. There is a lot of experimenting that needs to be done before we can ultimately converge and find the solutions that will scale to the whole Internet. The Internet of Coins is an ambitious open source project, and full of promising ideas. We are looking forward to working with the team to mature their technology.”
The NLnet Foundation used to be the first Internet provider of the Netherlands and has supported numerous projects with advice, contacts or funding. Among them you may recognize the Tor project, NoScript extension or WebODF library. Yes, they’re cool. And from now on, they will be advising us on shaping and developing the Internet of Coins project further.
In other news: the recent Cryptsy hack again underlines the need for a stable, non-commercial decentralized exchange system. You can find a good read here about how the hack took place.
Since our previous update before summer, we have been focusing on securing funding for continuous development. Today, we learned our efforts bear fruit. As of the 25th of August, the Stichting Internet Domeinregistratie Nederland (SIDN, or Foundation for Internet Domain Registration Netherlands) announced their support for development of the Internet of Coins, and awarded us with a Pioneer grant!
SIDN operates as registry for second level domain names in the Netherlands. Its foundation supports innovative projects which inspire an open and free use of Internet. We are very pleased with their support and will continue to cooperate as the project evolves. Part of the money will be used for coding bounties.
During our quest for angels, someone asked us "Why aren't you doing a digital ITO or IPO to acquire funding?"
Of course we would not be the first project. But let's be clear on this. We do not want you as a consumer to spend your cash on a project which is still in development. And like any startup, we are working with pivoting goals between timeboxes. So we aim to secure development 'the old-fashioned way'. Try out our client once there is a beta.
As part of this strategy, we have decided to separate the Internet of Coins project from our smart contracting agency Metasync, so it becomes its own entity as a non-profit foundation. Stay tuned for more info, or get in touch.
Pizza day is upon us! It has been a while since our last update. In this time we have seen a strong decline of the Bitcoin price, mining organisations going bust, and other initiatives consolidating their efforts to stay relevant in the cryptosphere. Also there is good news when looking at the adoption of Bitcoin and cryptocurrency concepts by businesses in general.
Meanwhile, we have been working on building hybridd, the client/server node for IoC. The skeleton of the node has been written and is now in alpha-testing. It is a modular construction that makes it possible to tie in any kind of value-related functionality. We have created some proof-of-concept modules to start filling in the blanks. [Read more...]