On 15th October, Charles Hoskinson, the CEO, and Founder of IOHK opened up about the split between IOHK and Cardano Foundation [CF], in an interview with The Crypto Lark. Here, he stated that the Cardano ecosystem was planned to be supported by three pillars, namely, IOHK, Cardano Foundation, and Emurgo. However, the tensions between the parties led them to part ways.
Hoskinson stated that the Cardano Foundation was formed to handle tasks such as community management, community outreach, regulatory outreach, lobbying and more. He then added:
“…as well as things like just being that golden source of truth for information – What is Cardano, why is it good? Who should use it? If there is a hack or an event, having a common place to go.”
Subsequently, the CEO explained that Cardano Foundation was operating on two-levels, mid-level, and executive-level. Here, the executive level had four members on the CF board at the time when the foundation was formed. However, IOHK and Emurgo witnessed that the board was diminished to just two people over the past 15 months.
He continued to express the disappointment and frustration built up within the Cardano ecosystem due to the dysfunction of CF. In his words:
“One of our frustrations over the last two years has been that the foundation is not really fit for purpose in the way that it’s structured the governance it currently has.”
Hoskinson also cited an event where the Cardano Foundation denied its duty and backed out from a trip to Ethiopia for the purpose of Cardano’s first MoU. Regarding this, he revealed that IOHK received an email from CF after the Ethiopia trip. According to Hoskinson, CF began using the Cardano trademark in unethical ways that were counterproductive for the ecosystem. He stated:
“When we went to Ethiopia, we invited the foundation to attend they agreed up until a week before we went they were gonna go with us. So we were going to go to Ethiopia – the first government in the world to acknowledge Cardano sign an MoU. They [CF] backed out, we said okay so IOHK signed it and then we got just an incredible email, basically saying hey you didn’t tell us you were going here.”
This is where IOHK decided to depart from its association with the Cardano Foundation, stated Hoskinson.
76497|Tron-based USDT: Huobi Global, OKEx and Gate.io announce support for new TRC-20-based Tether
Tron Foundation’s relentless push for mass adoption received a major boost recently when Justin Sun, the Foundation’s Chief Executive Officer, announced their partnership with Tether [USDT] to create new stablecoin. The partnership would essentially bring USDT on the Tron blockchain, making transactions faster and free-of-cost, while also improving the use-cases of the stablecoin.
Three major exchanges have now announced support for the Tron-based version of Tether, further bolstering its position in the market. Singapore-based exchange Huobi Global, Malta-based exchange OKEx, and Gate.io, a blockchain assets exchange platform, announced in separate press releases that they will be supporting the new version of Tether.
The TRX-USDT partnership was announced in early March in an effort to bring in a TRC-20-based USDT into the crypto-market. The ‘improved’ coin would stick to the technical token standards maintained by the Tron blockchain and would be interoperable with all Tron-based DApps and protocols.
In their respective press releases, Huobi Global and OKEx stated that the decision was fueled by strong user demand for inclusion of a full-spectrum of stablecoin trading. The exchanges also made it clear that there would now be three different protocol versions of USDT on their platforms: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20, and the new USDT-Tron.
Though the exchanges are some of the world’s largest in terms of trading volume, Tron Foundation had earlier said that the TRX-USDT version was made primarily for Tron-powered Decentralized Exchanges [DEX].
Recently, Tron Foundation also announced an incentive scheme exclusively for TRX-USDT holders. The $20-million incentive plan included the addition of a 20% initial Annual Percentage Rate [APR] for holding the cryptocurrency, which was significantly higher than its prime competition, the USDT-Omni. The plan also announced a scheme spanning over 100 days where USDT-TRX holders would be rewarded more USDT-TRX.
Tron’s DApp program and BitTorrent Token [BTT] launch also saw huge success this year, leading to a temporary surge in the token’s price before a bearish market ensued. On March 17, TRX registered a transaction volume that was five times more than the cumulative transaction volume of its closest competitors ETH and EOS. The transaction volume during this move was recorded to be over $100 million.
76476|DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum
The cryptocurrency market was punctuated by several altcoin surges this week, with Tezos and Ontology leading the charge. The latest entrant to ride the bull wave was DigiByte, the 35th ranked cryptocurrency on CoinMarketCap. It climbed up the charts to become the biggest gainer in the top 50.
At press time, DigiByte [DGB] was trading at $0.015, and was rising by 9.72%. The cryptocurrency held a total market cap of $169.073 million with a 24-hour trade volume of $3.091 million. A majority of the trade volume was split between BiteBTC and Bittrex, two popular cryptocurrency exchanges. BiteBTC recorded DigiByte transactions worth $1.156 million, while Bittrex recorded $315,308 worth of DGB trade.
The 24-hour chart showed the cryptocurrency’s value shooting up, before settling into sideways movement. DGB’s value surged from $0.0126 to $0.0144, in under an hour. It was speculated by many online that the addition of DigiByte on Magnum Wallet, and its latest release, the Magnum Notifier Bot, was what sparked the DigiByte surge. The bot is a free-to-use Telegram bot which notifies the user when the connected wallet participates in any transactions. The bot also gives DGB holders all transaction related information.
DigiByte was also helped by its community starting a new online campaign requesting Coinbase CEO Brian Armstrong to add DGB to its fold. Frederik Bf67, a Twitter user, and a DigiByte fan tweeted:
“Hello Brian, i would love to see @coinbase adding @DigiByteCoin to it’s platform. You know #DGB has been around for a long time and has proven itself over time to be a highly secure and fast blockchain with exellent use cases suported by thousands of people on every continent.”
Another DigiByte fan, Mark Brown replied on the same thread saying,
“Tell that to @barrysilbert , he’s the one to talk to brother 😏
@brian_armstrong and @AsiffHirji can do so much. It’s out of their hands.
I’ve even helped pass along a petition and nothing. I’ve gotten over 10k signatures to have #dgb added to #coinbase and nothing.”
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