Internet of Coins Update #13 - Send in the clowns

11 May 2017 / admin

Internet of Coins Update #13 - Send in the clowns

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.

Creative endeavours

Over the weekend our signup form was subjected to a hacking spree and received free penetration testing. Around nine hundred attempts were made to compromise the signup form, by injecting scripting commands and URL-crafting. However, ultimately it did not appear to have impacted our systems at all, thanks to best practices in handling user input. As always with the Internet of Coins project, we strive for a robust infrastructure that precludes the possibility to take advantage of it in mischievous ways.

Developments under way

Since passing the minimum viable goal for our project last week, code development has been starting up. Momentarily several of our developers are busy documenting standards and sorting out the various connectivity options for network transports, as well as making sense of the convoluted bitcoin and altcoin protocols, in order to implement deterministic transactions. As you may know, threats continue to arise for the fragile cryptocurrency sector. In all our developments, we strive to create future-proof architecture that will safeguard and respect the fundamental liberties of our supporters.

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. Since Internet of Coins represents a completely novel kind of cryptocurrency development, although we will build on earlier achievements, 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. This means your PIN, the TXID of your donation, screenshots of transactions and confirmation, or the confirmation email. When enough of the network infrastructure is ready, each donor will then be given an account on the newly developed system, that will hold the amount of HYBRID tokens reserved according to the USD value of the donation at the time of participating. In the course of development, the network will be connected to different coins and token systems, starting with 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.

HYBRID pricing schedule

The next price per unit increase for HYBRID is scheduled to happen on the 19th of May. Until that time the PPU value will be 1.45 USD, and after that it will increase to 1.65 USD when issued. Check our terms page for the authoritative schedule.

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: info@internetofcoins.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, Maria, Marjon, Matthias, Pim, Robert, Sergey and Steffen



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