Blockchain News

Telegram Open Network Will Finally Launch On October 31st

Published

6 months ago

August 19, 2019

Telegram open network, the long-awaited blockchain of Telegram will finally launch at the end of October according to the reports in the coming altcoin news we have today.

The gram tokens of the network are still yet-to-be issued and are now trading in an unauthorized secondary market. The company still has to publicly acknowledge the project but the investors in the last year’s $1.7 billion token offerings are now seemingly selling their gram allocations via the OTC desks, exchanges and similar. Buying tokens this way could be very risky according to investors as Telegram prohibited investors from re-selling their allocations under a penalty when terminating the contract. The secondary market has improved for the future token of the Telegram open network and between the OTC desks, sales on small crypto exchanges and investments funds, the opportunity to buy tokens before launch date are hard to find.

The investors who bought into the Telegram’s $1.7 billion offerings back in February and March are now not allowed to pledge or sell their tokens in any way before the launch. The original purchase agreement says that if some investors dispose of their future tokens before the Telegram Open Network or TON is life and the allocation can be canceled. One of the investors stated:

“Telegram was the first big project that legally prohibited investors from selling their allocation. Investors usually just share their allocations with friends, without signing documents.’’

The purchase agreement which was written for Telegram by the US legal powerhouse Skadden, Slate, Meagher, and Glom LLP according to one investor stipulates that the buyers of grams may not offer pledge, swap, sell and encumber or dispose of their tokens directly and indirectly. The investors may sell any securities convertible into or exercisable or exchangeable for the investment contract between an investor and the company. The issuance of the tokens is conditional upon the investors’ compliance with the rule. One investor stated for the latest cryptocurrency news:

The future issuance of tokens is conditional upon the investor’s compliance with this rule. If Telegram learns the investor broke the agreement, it can cancel the allocation.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Stefan

Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.

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Blockchain News

CommerceBlock ICO Review: Should You Invest In It?

Published

4 hours ago

February 25, 2020

Stefan

In our CommerceBlock ICO review, we are listing all of the details about this new prosperous ICO. If you are new to it, you should know that it is also new in the cryptonews. However, there is a reason why many are investing in it and its concept is pretty interesting. To begin with, we should say that this is an ICO where the team is actually focused on getting tools and API ready for financial developers to build systems on the back of the blockchain and the BTC/ETH technology. The team believes that there is a huge amount of funds which resides within the traditional banking system and is plagued by nepotism, delays, centralized control and wastage. Another part we would like to highlight in our CommerceBlock ICO review is that the team wants to liberate the funds from centralized control and bring in more security and transparency as well. The fact that the current storage of large amount of funds within the legacy banking systems is a cause for worry for a lot of people in the world. Still, it remains to be seen whether the blockchain would become the liberating force that these funds need so that they are made more accessible to the retail clients who would love the transparency which the blockchain can bring in. As we said above, the current financial system involves the presence of funds within an age-old banking system with centralized control. The CommerceBlock ICO review shows that there are a lot of inefficiencies that this projects can solve. They are also in the blockchain news for stating that this technology would help in the decentralization of control and that it can be used by any individual or business to manage trade flows, hedge currency risk and any such kind of business transaction. The team at CommerceBlock is a small one (from what we can see from their website and white paper) but they certainly have a lot of experience on the blockchain. Full of advisors and expert scientists, the development and maintenance of APIs and SDKs on the blockchain would require a lot of development effort and they plan to hire more developers for this purpose once the funds settle in after this ICO.

Blockchain News

Algorand Cemented Its Position As A Major Ethereum Challenger In 2020

Published

5 days ago

February 20, 2020

Stefan

The world's most used stablecoin, Tether, has recently become the first stablecoin to be issued on the Algorand network. Additionally, Algorand cemented its position as a network which could challenge the Ethereum network in 2020. The crypto news showed that Tether has an estimated daily trading volume of 40 to 64 billion and recently announced that they will be partnering with Algorand. Traders will now have the option to use the USD-backed stablecoin on the Omni, Ethereum, Tron, EOS and Algorand blockchains. Regarding this collaboration and the fact that Algorand cements its position this year as an ETH challenger, the CTO of Tether Paolo Ardoino said:

“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains. Our latest collaboration with Algorand leverages the speed and security of Algorand’s protocol to give traders fast settlement and reduced counterparty risk in their fiat to digital asset transactions. Tether and Algorand both share a desire to keep building next-generation financial products and we feel our growing customer base will appreciate and benefit greatly from this collaboration.”

Led by a Turing award winner named Silvio Micali, Algorand is a public, permissionless and proof-of-stake blockchain that is currently working on creating a borderless global economy. The inherent design and architecture is how Algorand cemented itself from the competition, easily conducting 1000 transactions per second and a block production time of 5 seconds per block. In comparison, the Ethereum latest news show that Ethereum manages less than 25 transactions per second and has a block production time of 15 seconds. All in all, Algorand is on a good way to provide a highly scalable platform for Tether to function at its maximum capacity. On the other hand, the network can leverage Tether's immense popularity to attract more users and institutions to its platform. This won't only increase the platform's usage - it will also bring in more developers and applications as well. While Algorand cements itself as a direct competitor to Ethereum, Tether (USDT) is also moving up and recently become the latest high profile project to collaborate with Algorand. The native token of Algorand, ALGO, has meanwhile been accepted on many major exchanges in the likes of Binance, CoinBasePRO, Huobi, Kraken and several others.

Blockchain News

Rarible Blockchain Art Platform Sparks Fraud Discussions

Published

1 week ago

February 16, 2020

Stefan

Rarible, the blockchain-based art platform had one of its artists, Karan Singh, notifying the platform that some of his work was fraudulently listed. The issue was resolved quickly but the NFT space has started discussing the crypto regulation issues and how to prevent these incidents from happening in the future as we are reading in the crypto news today. The primary goal behind the Rarible blockchain platform is to tokenize the works of digital art is that the tokens are visible on the blockchain. The creator and the points of sale can be tracked over the life of the work. The hosting platforms such as Rarible, will mint the tokens using Ethereum and other competitors in the space including SuperRare and KnownOrigin. Once an artist uploads the work and the work gets created to a tradeable ERC721, the artists can then auction the piece so the buyers take solace in the token and trust that they are the true owners of the digital creation. However, with the latest fraud case, this trust was breached. Karan Singh who worked with Apple reported a fraudulent copy of its work on the blockchain-platform: “This is actually my work,” he tweeted, linking to his Instagram account. “And so are all of these. [Take] them down.” Another user that pretended to be Singh, had sourced the work of the artist and placed them on sale at Rarible according to the co-founder of Rarible, Ilya Komolkin. Komolkin banned the impersonator and asked the holders to burn all of the tokens that they had minted including Singh’s work. The German artist Mario Klingemann also helped to identify the fraud after having bought the work. After the announcement, he urged the buyers to burn their tokens too. The platform mitigated much of the issue and Singh’s fast response helped to keep the fraud under relative wraps and prevented the imposter from making tons of money. Since then, members of the NFT community have posed various solutions to prevent such events from happening in the future. In Singh’s, the stakes were low because he caught the fraudster quickly. If he hadn’t arrived when he did, the fraudster could have easily made money.

Blockchain News

HotBTC- New ICO Cryptocurrency Exchange Was Just Launched

Published

1 week ago

February 15, 2020

Stefan

HotBTC, a new cryptocurrency exchange with ICO cryptocurrency focus, has just been launched and is considered to be the best place for ICO listings, new tokens, trading, blog writing, and profit-sharing as we are reading more in the latest cryptocurrency news today. The crypto investors and traders now have another perfect place where they can trade crypto as the new HotBTC exchange was launched recently. It is fast, secure and is built with the latest technologies so it is perfect for ICO cryptocurrency listings. The platform makes it easy for users to find an exclusive page where they can browse and select ICOs based on the sector or keywords so they can even check out pre- ICO listings, upcoming ICO cryptocurrency or past projects. Airdrops have an exclusive section which will show start and end dates displayed along with the description. The first 100 ICO listings are free and there will be ZERO trading fees for the first 30 days. HotBTC is a place where the investors of the world and traders can trade coin services, purchase Ether or Bitcoin at the lowest prices and check out upcoming ICOs. The trading is instant and the withdrawals are automated. Ronak Tejani from the exchange commented:

“HotBTC has a dedicated focus on listing ICOs, making it a unique trading platform that will be welcomed by the crypto community all over the world. As an exchange, it also offers great features like lightning-fast trades, no hidden fees, and industry-standard security.’’

Trading speeds at the newly launched HotBTC are extremely fast and the token prices get updated every 60 seconds. The users can build a new crypto portfolio with multiple layers of protection and can benefit from the account monitoring, wallet management and full authority on withdrawals and deposits. HotBTC has other amazing features such as profit sharing and has a 50 percent revenue sharing scheme on the profits with qualified users. The qualified traders can become partners and can even receive dividends in BTC. HotBTC has been launched recently and aims to fulfill the wishes and desires of the crypto community, traders, crypto project owners, ICO cryptocurrency ideas and anyone else that is interested in the great future of the cryptocurrencies.