New research grant secured
We have received word from the Dutch SIDN Fund that the Internet of Coins project has been awarded a grant of $70,000 (USD) for further development of our wallet with the decentralized exchange. The foundation stated:
“Internet or Coins creates a system where the exchange of cryptocurrency is democratised and open to everyone worldwide. This is in line with the objective of SIDN Fund to strengthen the Internet. An open and free Internet, which is accessible to all, trusted by the public and seen as a foundation on which to build.”
Over 500,000 HYBRIDs registered
This week, we were happy to see the fundraiser counter jump to 543,000 HYBRIDs registered. Most of the donations have been sent in Ethereum and Bitcoin, but we see the NEM, WAVES, NXT, Counterparty and Bitshares community participating as well. As we are entering the last week of the crowdfunding campaign, we thank all who already decided to be part of our journey.
Just two more days to go!
The fundraising period will close on the 21st of June, 10:00 CEST, the beginning of summer. Only two more days are left to register your donation. After that, development will start according to our roadmap (see our terms page for more details). We will keep you informed about procedures and the development of our infrastructure through our newsletters and on Twitter.
More transactions sent using IoC alpha wallet
As we mentioned in a previous newsletter, we have done our utmost to get a 'live' version of our wallet out there for testing by you, our supporters. Since the alpha is available we have seen the node push several transactions into the network. People are already trying it out, and thus far without any issues. The public alpha is available for testing at http://kth3qittpclsdrk6.onion so you will need to use TOR to access it. It supports just Bitcoin and Lisk for now, so we can test the basic functionality of the transaction mechanisms. Please do not store large amounts of value on this wallet yet, it is to be considered experimental until after more extensive testing and there may be bugs.
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.