Aug 032014
 

StellarStellar is a decentralized protocol for sending and receiving money in any pair of currencies”. Sound familiar? It should, as it’s pretty similar to Ripple, another similar protocol that was heavily criticized for it’s poor distribution strategy (Ripple was 100% pre-mined and then distributed). Stellar might see better reception in the community and succeed where Ripple had failed. Stellar is already backed by one industry-heavyweight: Stripe.

In a blog-post published on July 31, 2014, Greg Brockman wrote

Stellar is (like Bitcoin) a decentralized payment network; unlike Bitcoin, it supports transactions in arbitrary currencies—you can use dollars, Euros, bitcoins, or anything else. Stellar implements something very close to the idealized “IP layer for money”

Stripe has funded Stellar with $3 million in return for 2% of all Stripe, although the project isn’t run by Stripe but by a team of people at Stellar Foundation. Stripe has also promised that they’ll auction off a majority of their Stellars to interested companies, with the profits being returned to the Stellar Foundation. The Stellar Foundation already has some big names, especially the board: Jed McCaleb (the founder of Ripple, and original founder of MtGox before he sold), Keith Rabois (One of the famous “PayPal Mafia“, COO of Square), Patrick Collison (CEO of Stripe), and adviser list, including Naval Ravikant (Founder of AngelList), Sam Altman (President of Y-Combinator), and Dan Kaminsky (a famous security researcher).

With an impressive backing, Stellar might just succeed where Ripple failed. Even though there were several good ideas with Ripple, it failed to live up to the hype and couldn’t make inroads into financial institutions as it envisioned. Stellar, with a stellar list of backers and board members, might be better suited to succeed in this aspect, since the net worth of all its board members and adviser list combined counts into several billions of dollars, and they have the clout required to ensure wider adoption. Another interesting aspect of Stellar is that there’s a steady 1% inflation per year.

There will be an initial supply of 100 billion Stellars, 50% of which are being given away to anyone who signs up with a Facebook. See the full distribution of Stellar, and note how different it is from Ripple’s distribution. You can sign up now, and get 6000 Stellar for free (you have to connect with your Facebook account).

It would be an interesting experiment to watch how Stellar makes progress and whether it can succeed in truly “disrupting” money transfer and do better than Bitcoin.

 

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Aug 012014
 
Bitshares X Launched with Delegated Proof of Stake (DPOS)

After a much awaited wait, BitsharesX has finally launched. A Chinese firm, DACSunlimited has launched the first version of the Bitshares code, and also honored the Protoshares/Angelshares distribution at 50%/50%. This is big news for the Protoshares community, and will be the first real-life version of the Delegated Proof of Stake (DPOS). The version released [...]

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Jul 012014
 
Expresscoin Expands into Canada

Buying and selling Bitcoin and altcoins has become easier for Canadians, as Expresscoin is set to expand into Canada. Expresscoin will offer crypto currency payments through DebitWay a trusted third party that offers merchants INTERAC Online Payment services, which allow consumers to pay for goods and services online, directly from their own bank account in real time. [...]

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Jun 222014
 
Bitcoin Job Fair in New York City

There’s a Bitcoin job fair for all job-seekers and companies in the Bitcoin/cryptocurrency space on Saturday, June 28th 2014. This event is being organized by the New York Bitcoin Center, which has been hyper-active of late in conducting Bitcoin related events throughout New York City. It was only a matter of time before Bitcoin needed [...]

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Jun 192014
 
Bitgo, a Multisig Wallet, Raises $12 Million Series A Funding

Bitgo, another Bitcoin wallet provider, raised $12 million in Series A venture capital funding. This is good news for startups looking to build the next generation of Bitcoin plumbing for the internet that will truly see the potential of what Bitcoin can do. Bitgo advertises itself as “world’s first multi-signature secure wallet” on its website. [...]

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Jun 172014
 
Bitcoin Conference in Chicago in July 2014

The North American Bitcoin Conference is coming to Chicago on July 19th and July 20th 2014. This is the second North American Bitcoin Conference, the first one being held in Miami. Just like in Miami, the conference promises an exciting ‘pre-party’. Also, remember that Bitcoin has grown a lot in one year, and the conference in [...]

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Jun 152014
 
Hester Street Fair Bitcoin Opening

Hester Street Fair has attracted some of the best small local businesses, artisans and artists in New York every Sunday to New York’s lower east side. It has everything from delicious food to vintage jewelry to modern fashion. For this season, Hester Street Fair has transformed into NYC Bitcoin Fair. All the vendors there now accept [...]

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Jun 112014
 
Travel Industry is Important for Bitcoin

Today there was interesting news that Expedia has started accepting Bitcoin for hotel bookings. This is an important milestone, as the travel industry is an important one for Bitcoin to crack. It is, I believe, the first step towards Bitcoin usage and adoption by travelers and tourists, a very big industry that would hugely benefit from using [...]

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