Internet of Coins Update #4: NEM, Waves, Bitshares and Early Birds

03 Mar 2017 / CodaSiren

If this is your first e-mail update, you can always read the previous ones at our weblog. And remember: the fundraiser starts March 21st. We send these updates once per week.

Topic of this week: Early Birds
As you may have read before, we started this project to just build tech. With all our code being open sourced by the Commons Conservancy and our fundraiser expenditures managed by escrow NLnet, we made sure we would be able to do just that. So in terms of governance, we are held accountable for the milestones we set, and what our actions are.

Bearing this in mind and with the Funding Terms being released next week, we would like to announce a one-time offer for the fundraiser first to our subscribers. We recommend to first always read the terms themselves upon release. They will describe, among other things:

  • the pricing rates of the hybrid tokens issued ($1 per token on opening at any of the supported chains, rising up to $2 at closing June 21st)
  • the amount of tokens issued (1,000,000 per supported blockchain type, currently 7 systems)
  • the reward system for all participants of the fundraising period:
    • 5% additional payout of initially raised tokens by participants after the first year,
    • 3% additional payout of initially raised tokens by participants after the second year,
    • 2% additional payout of initially raised tokens by participants after the third year,
    • 5% payout in issued tokens of future added asset systems upon their addition by the foundation to the network
  • the amount of tokens reserved (700,000 (10%) for Early Bird participants, and 700,000 (10%) for development and payouts)
  • the minimum threshold for the fundraiser (less than $350,000 raised for development will always default to a full refund)

As subscribers, we want to extend to you the offer of becoming an Early Bird participant. Early Birds are eligible to receive the hybrid tokens at a 5% discount, or $0.95 per token. Your tokens will be reserved and allocated before the fundraiser starts. The minimum entry to become an Early Bird is a value equivalent to 10 BTC. The funds are allocated at our escrow, and will be fully refunded if the minimum threshold for the crowdfund is not reached.

Interested? Send an email to and we will provide instructions on how to participate. The Early Bird offer ends March 21st 00.01 UTC; the day the fundraiser starts at 10.00 UTC.

Development evolution
BIG UPDATE: our hybrid asset now supports NEMWaves and Bitshares as well!
This makes the total amount of supported asset chains for the fundraiser now 7. This week we gave our first live demo at Bitcoin Wednesday Amsterdam, explaining how we use combinations of blockchains, setting up currency recipes, and providing a first look at our GUI which the alpha group is currently testing. We´ll send the link once the presentation is up. In the meantime, Amadeus wrote an article on how we deal under the hood with our client security, which got published here.

Campaign growth
The banner campaigns have caused quite a stir and we´re very happy with the signups going through the roof! The Spanish, Russian and Chinese site translations are coming along nicely. This week we got some great feedback on our presentation at Bitcoin Wednesday Amsterdam.
After recently adding Marietje Kardaun as an adviser on Ethics, we now also welcome Bas Wisselink, boardmember of the NXT Foundation, as our latest member of the Committee of Recommendation. Being involved in blockchain projects for many years, he will reflect with us on the integration of the NXT platform and the cooperation with academia.

Latest publications
We see an increase of our articles on the developer blog being picked up. Our latest pieces are on the objectivity and security of the platform, how we implemented fingerprinting and keys and our views on personal finance for expats. Bitcoin has proven how easy and cheap it can be to transfer value worldwide, so let´s make that happen for all blockchain value systems.

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 us at @internetofcoins to spread the word further :)
If you have a suggestion for a blockchain event where we really should be, drop us an email and we´ll try to come by. Our next presentation will be at the Blockchain UA conference in Kiev, March 17th.

Thank you for taking the time to read our updates,
we´ll be in touch again next week!

Yours sincerely,

The team behind Internet of Coins - Amadeus, George, Jelle, Joachim, Marjon, Matthias, Pim, Robert, Sergey and Steffen

Evolution Versus Revolution

08 Oct 2014 / CodaSiren

The word revolution comes from the latin revolutio, meaning a turn around. It could mean a modification of an existing constitution, or a complete change of it. However, revolution is almost always understood as a quick change. And that is exactly where my pitfall detector starts ringing.

In recent months we have seen many claims of "revolutionary" developments and technologies in the crypto scene. Next to a plethora of new coins being announced, there are also organizations claiming to have “the next big thing”. The many new hypes are often flashy enough to woo a great amount of users of cryptocurrency into investing their coins into these ventures.

Along with many revolutions that have happened in human history came not only rapid, significant changes in (geo)politics and social situations, yet most often also systemic instability and insecurity, loss of cultural identity, and destruction of value. Pitfalls, many of them historically documented, that come back with every revolution. And these mass-behavioural cycles, in circling back to zero, oust unwanted elements out of a system. What can we deduce from this? Revolution also means reinvention and reset, and the effects of this are not solely beneficial.

Evolution, on the other hand, is less often highlighted in social and cultural contexts. And yet in a manner of speech we often refer to positive development processes in society and in our cultures as evolutionary ones. Nature itself contains many forms of evolution and progression, and it forms a prime example for our own development.

When weighing evolution versus revolution, the Internet of Coins team has decided on attempting to navigate a more long term route. Instead of simply declaring another revolution, they seem to rather declare an evolution aimed at augmenting technologies that are already out there. It is the announcement of a project that is aimed at organic growth. Not reinventing wheels, but rather enhancing the current state of money-like informational commodities we call crypto currency.

It is possible to bring change step-by-step. To replace the current financial structure all of the crypto currency enthousiasts together need to create something so useful that it makes the current systems obsolete. This movement and the work it encompasses are of such magnitude that it cannot be done overnight. So we may want to choose our positions wisely

With the Internet of Coins project and the other decentralized options out there it may become realistic to start adding stability and overall constructive development to the cryptosphere. Together making strides towards being evolutionary, instead of just revolutionary.



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