Dear cryptocurrency enthusiast,
We thank you for your interest in our project, and all who already participated in our crowdfund. You are receiving this e-mail because you have either signed up for the Internet of Coins e-mail updates, participated in the crowdfund or have previously been in touch with one of our team members.
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.
The case of the missing PIN
We understand from people with Gmail accounts that our PIN emails, and in some cases our confirmation emails, are not arriving at Gmail customers. This is because Gmail uses excessively strict greylist filtering. In some cases, it may help to send a little test email to email@example.com and keep this email in your outbox, before you start the donation procedure. Then Gmail sees the address as 'whitelisted' because you have corresponded with it before. However, if you do not receive a PIN email, even after checking your spam box, please use 77777 as your emergency PIN in combination with Gmail addresses only. These donations will then receive extra inspection and verification.
In that case, be absolutely sure to paste the correct transaction ID, which is a 64 character long hexadecimal string that identifies your transaction. You can find your 'TXID' by viewing the transactions coming in to the blockchain address that you are donating to, which are listed on our terms page using a block explorer. For Bitcoin donations, for example, you can use: https://www.blocktrail.com/BTC/address/14aV8dULoL67i6xQncfmFsbFaEtpRKskC2/transactions and for Ethereum donations: https://etherchain.org/account/0x197a920123dda17040a065457ef0c01b28a54045#txreceived
In case of not receiving a confirmation email, we also recommend to make screenshots of your transaction, in case these may be needed in later correspondence. You can always contact us about your donation in case of problems. Please understand that we cannot give you a simple refund of any donation, since only the overseeing foundation can decide on individual cases, when serious error is involved.
The release of the tokens
There have been questions regarding where the HYBRID tokens are 'visible' and how donators can know where their tokens are stored. We build on earlier achievements, and hence the infrastructure to carry our tokens will be developed using the (crypto)currency that our supporters donate. At the present moment, this means your registration information is your ticket for our Fundraiser. Make sure to keep a copy of your PIN, the TXID of your donation, screenshots of transactions and confirmation, or the confirmation email. When the network infrastructure is functional, each donator will be able to create their own account on the newly developed system. This account will receive the amount of HYBRID tokens reserved according to the donation at the time of participating. In the course of development, the network will be connected to different coins and token systems, as well as those included in the fundraiser.
Transparency of our fundraiser
You can check any of the blockchains listed on our terms page, to verify that the donated cryptocurrency will only be spent on project development, starting after the fundraiser period. We are proud to be part of an alliance with the Commons Conservancy under the reputable NLnet foundation, an official charity under Dutch rule of law, which guarantees that we cannot use these funds except for the purpose of developing the Internet of Coins.
How to participate?
If you want to ask the team any questions, regarding the project, in general or about our fundraiser, please use one of these ways to do so:
Twitter: ask your question and mention @InternetOfCoins Log on to the chatpage on our website: https://internetofcoins.org/chat Via email: firstname.lastname@example.org
Or check out our Crowdfund Tutorial if you want to know how to participate with cryptocurrencies.
If you haven't received a mailing from us earlier and are new to the project, you can read up on previously published articles on our blog, join the Bitcointalk forum threads or our project website, especially the terms page for our roadmap and legal information. Or watch one of the presentations we have held at various conferences.
Ways to support
Like the project? You can help us out by giving it a Star with your Twitter account on Cyber Fund. You can also follow and retweet us at @internetofcoins to spread the word further. Want to be added to our Slack channel? Just reply to this mail with your request and we'll send you an invite. Once added, you can invite others as well.
Thank you for taking the time to read our updates, we'll be in touch again soon with our next newsletter!
Yours sincerely, Amadeus, George, Jelle, Joachim, Kirsten, Maria, Marjon, Matthias, Pim, Robert, Sergey and Steffen
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.