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Blockchain Newsletter: Move Over, Bitcoin. Ether Is the Digital Currency of the Moment [2017W26]

Altcademy Team wrote on 7 February 2018

This Week's Update on Bitcoin and Blockchain [2017W26] Issue: Week 26 of 2017

Markets
  • Price per Bitcoin BTC is at ~$2508 USD (-2.1% from last Monday)
  • Price per Ether ETH is at ~$270 USD (-24% from last Monday)

Articles

This week’s new initial coin offerings (ICOs)
  • TenX (White Paper)
  • TenX is a cryptocurrency payment solution provider where users use an e-Wallet (android version currently available) app coupled with a debit card (virtual and physical card available by order) to make payments.
  • TenX partners with Visa and Mastercard allowing TenX payments to be accepted at over 36 million points in 200 different countries.
  • Currently, you can fund your TenX wallet with Ether, Bitcoin and Dash, TenX is working to support any EC20 (an Ethereum digital token standard) tokens in the future.
  • TenX users can perform cryptocurrency exchanges with any other TenX users in a decentralized manner.
  • TenX will be using the COMIT protocol for facilitating cross-chain and crypto-fiat transactions. TenX will be the first liquidity provider to kickstart the COMIT protocol.
  • TenX has created and successfully sold the PAY token in an ICO to raise 200,000 Ethers on June 24th 2017. The ICO reached its goal in 3 hours. The exchange rate for the ICO was 350 PAY per ETH.
  • 70 Million PAY were sold and represents 51% of PAY tokens that will ever be created.
  • PAY token holders will earn 0.5% of the aggregate payment volume that is spent by all users with the TenX Card in the form of Ether.
  • TenX Card users will receive 0.1% from each transaction they make with the TenX Card, as an incentive in the form of PAY tokens (similar to how users are rewarded with air-miles or other forms of cash back in kind for usage of existing cards today). This additional reward for users in the form of PAY tokens is bought on the open market and will create price support.

  • OmiseGo (Crowdfund White Paper Draft)
  • We covered OmiseGo three weeks ago. They have announced their crowdsale date to be 27 June 2017.
  • If you missed the review, here is the recap. OmiseGo is planning to build a decentralized exchange that allows eWallet users (Venmo, Alipay, etc.) to send and receive fiat currency (USD, RMB, etc) to and from each other.
  • The final settlement for transactions between different eWallet providers is primarily facilitated in Ether using Ethereum Smart Contracts.
  • All transactions and activities on OmiseGo will incur a transaction fee and OMG token holders earn the right to win those transaction fees by validating the blockchain.
  • The OmiseGo token value is derived from the transaction fees derived from activities on OmiseGo.
  • The OmiseGo crowdfund campaign is selling 65.1% of OMG tokens issued to raise a maximum of $19 million USD equivalent in Ether. The minimum cap is set at $8 million USD and the crowdfunding period is 1 calendar month.

  • Starbase (White Paper)
  • Starbase is a crowdfunding and crowdsourcing platform for startups.
  • Starbase provides a selection of tools for Ethereum digital token issuance, payment and crowdsale.
  • Teams can easily create a project on Starbase, issue new tokens to hire new team members or raise fund through an ICO.
  • Supporters can use starbase to participate in ICOs or work on startup projects in exchange for tokens.
  • Starbase is issuing and selling STAR tokens in an ICO. STAR tokens will be used as an utility token on the Starbase platform.
  • The platform will collect fees in STAR tokens for token issuance, crowdsale, and work payments.
  • STAR token holders will receive the collected fees as rewards.
  • Starbase is issuing 1 Billion STAR tokens initially for the project with an inflation mechanism based on Starbase platform performance.
  • Starbase is offering 12.5% of the 1 Billion STAR tokens in its ICO. The minimum goal is 1 Million USD and the maximum cap is set at 25 Million USD. The final exchange rate depends on the total fund raised. You can simulate the token exchange rate here. The ICO is planned to begin on July 1st 2017.

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