Internet of Coins to Create a Trustless Environment

24 Mar 2017 / CodaSiren

Internet of Coins to Create a Trustless Environment

The basic idea underlying the entire venture called Internet of Coins is to eliminate blind trusts on third parties for the security of your value transfer. The idea is to get rid of any centralized exchange, federated partnership, or multi-gateway that makes transactions expensive.

Internet of Coins aims to create a decentralized, self-sustaining economy by implementing inter-blockchain connectivity which is sustained by a hybrid P2P meta-network to leverage each of its participant’s strength in numbers.

The idea which was conceived during the summer of 2014 was basically to create a trustless environment in which the security of your value transfer is not dependent on the assumption that you are to trust the person on the other side of the network willing to trade.

Further, it is the platform’s dream to integrate all coins into an interconnected and financially liquid nervous system. Existing wallets will not require any tinkering or adaptations to have their blockchains and value systems hooked into this decentralized network.

It is not their intention to impose any limits on the creativity which is overflowing in the current developments in cryptocurrencies. Rather, they would like to see it continue in parallel without any restrictions. And they would definitely like to save countless innovations with valuable technology from abandonment.

Internet of Coins plans to bring all of this into action by enabling every cryptocurrency user to create hybrid assets that interconnect value systems and blockchains.

Internet of Coins, though, looking to create a trustless environment, is trustworthy itself. They are currently under assessment by rating agencies Smith & Crown and ICOrating. Internet of Coins is already listed at Cyber Fund. Through their cooperation with established escrow partner NLnet, they aim to provide a solid basis for long-term continuity.

Internet of Coins Update #2: Trust, languages and wallets

16 Feb 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: trust

With Internet of Coins (IoC) we aim to create a trustless environment in which the security of your value transfer is not dependent on the assumption that you are to trust the person on the other side of the network willing to trade. However, the fundraiser, which we are organizing to scale this project, does require trust. And for that, you sometimes may like a third party to review your options. Which is why we are currently under assessment by rating agencies Smith & Crown and ICOrating. Internet of Coins is are already listed at Cyber Fund. Through our cooperation with established escrow partner NLnet, we aim to provide a solid basis for long-term continuity. Their 20-year experience as an organisation supporting open-source initiatives has been a great help. But of course don´t believe just us; perform your own critical assessment. Especially before participating in any crowdfund.

 Development evolution

Our alphatest is almost ready for deployment. Amadeus has worked hard to build the interface for the hardware wallets we are providing to the testers; mainstream users who have asked for a pilot to use cryptocurrencies as a replacement for fiat currency within their community. We have had some requests for a Slack channel, and will set up one to keep in touch with the development community. We usually steer clear of proprietary software, but in this case we´ll make an exception ;-)

 Campaign growth

We are multilingual! A team of community translators joined us from who are now translating all our announcements to Chinese, Dutch, German, French, Greek, Indonesian, Italian, Japanese, Polish, Portuguese, Russian and Spanish. Including these e-mail updates, so you can always find one in a language of your choice on the boards. Site translations are in the works, expect to see new language options next week. We will also start recruiting some social media ambassadors.

 Latest publications

Tatiana Moroz from CryptoMediaHub interviewed Joachim on her show about Internet of Coins. It is a very good introduction to what the network has to offer and what technologies we are using. You can view the interview here.

Currently we are also working on the Funding Terms, to make sure they are available for everyone before the fundraiser starts.

 Ways to support

Love the project? You can help out by giving it a *Star* through your Twitter account on Cyber Fund. 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.

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




events Bitcoinference altcoins bitcoin Hybrid Assets history integration dapps decentralized meta-network inter-blockchain value exchange exchanges risk hacks multigateways smart contracts smart oracles assets cryptoequity merchants instability evolution revolution development consortium politics Virtual Bitcoin Expo Bitcoin Wednesday Ethereum Arnhem Bitcoin City eclectic architecture atomic transactions RPC calls Bitalo launch open source mammals crypto decentralisation cryptosphere economy autonomous banks dinosaurs Crypto Money Expo Bitcoin Embassy API future pizza day altcoin nxt xcp counterparty block explorer SIDN funding NLnet exchange peer shared mesh peersm technology cooperation beta New years eve Cyber.Fund blockchain finance ethics government manifesto update campaign Blockchain Expo London trust trustless fintech technologies tokens deterministic transactions internet of coins greenpeace Technologies Hybrid cross-blockchain environment crowdfund cross-blockchain Hybrid asset HYBRID weavechain immutable storage consensus column personal finance financial freedom authentication Fingerprints Keys decentralized anonymity social tech technological advancements economic freedom hybrid assets decentralized economy inter-blockchain connectivity P2P meta-network security cryptography NACL encryption Development evolution NEM Waves Bitshares Early Birds milestone hacking spree token release pricing schedule transparency grandma human readable hashstrings libraries missing PIN alpha wallet fundraiser hardware node virtual machine early bird VirtualBox DIY ICO Alert TOR live first transfer LSK grant release early holders pioneers distribution trade hybrid tokens third party exchange early holder scam policy trading preparation ethereum wallet ethereum blockchain CLI internet coins research low bandwidth multiple-token interchange etherdelta local storage usability legal hiring ERC20 token upgrade Ethereum foundation XHY ethereum classic ETC user interface teeny tiny token support torrent smart contract markets expansion command line asset management NXT blockchain star decentralized storage favourite cryptocurrencies dashboard token management user settings ISOC Internet Society awards startup script documentation hybridd node system Chaos Communications Congress Internet Innovation Award nomination beta wallet token mining Telegram altcoin implementation