Weekend News Bits: Hedera & CMC By Michael Creadon

in syndication •  3 years ago 

Hedera Hashgraph is going live soon after months & months of anticipation. For alt-coins, bereft of positive news for 2 years, this is positive as reportedly:

"Hedera Hashgraph is creating a fast and secure alternative to Bitcoin."

From Venture Beat, a blog:

"Hedera Hashgraph, the company behind an enterprise-grade blockchain alternative that raised $124 million last year, plans to grant open access to its mainnet beta on September 16 as part of a new milestone for its fast & secure public ledger technology.

"The platform will allow any developer from the general public to create an account & build decentralized applications (dApps) on the Hedera Hashgraph platform...

Open Access also marks the beginning of Hedera’s strategic 15-year coin distribution, with Hbar tokens beginning to be released to participants in simple agreements for future tokens (SAFTs) offerings, through which the company raised the $124 million in 2018.

“With Open Access, we are excited to welcome any and all to join the hundreds of third-party developers already building distributed applications on our platform,” said Hedera Hashgraph CEO Mance Harmon in a statement quoted by Venture Beat.

There are questions about SAFTs; questions about Hedera's blockchain solution; questions on why it all took so long.

Now, maybe, we'll get answers.


In other news this Labor Day weekend...


Coinmarketcap, which has quietly & seemingly cornered the market on digital-asset pricing in recent years, announced changes to their scoring & ranking system this afternoon - a long-awaited change that should keep critics at bay for now.

Coinmarketcap announced changes to their scoring & ranking system

Any game-able system will be gamed & crypto types have shown infinite & myriad ways to manipulate the scoreboard - putting bewilderment in investors' eyes & ruthlessly damaging the reputation of an industry desperately in need of legitimacy.

Fake volume numbers are a scourge; CMC apparently has a plan. Another thorny dilemma is how to account for "unknown market caps."

Let's illustrate an example: I launch an ICO called MIKE & issue a trillion shares. I own 100% of MIKE. Then I sell one share to my trusted, old 4Rev pal Varun Sehgal for $1. And now I report to the world that I'm a trillionaire. You think I'm exaggerating. Not by much.

Here's what I see: decentralization is a noble goal; then reality sets in. To advance, crypto must adhere to similar if not exactly the same principles enshrined in the old-fashioned, centralized model. Purists shriek with horror: change is good. Real money won't move into the space until & unless ls it's clear volume numbers mean something & asset prices aren't rigged. Probably not yet perfect but it's a start.), which has quietly & seemingly cornered the market on digital-asset pricing in recent years, announced changes to their scoring & ranking system this afternoon - a long-awaited change that should keep critics at bay for now.

Any game-able system will be gamed & crypto types have shown infinite & myriad ways to manipulate the scoreboard - putting bewilderment in investors' eyes & ruthlessly damaging the reputation of an industry desperately in need of legitimacy.

Fake volume numbers are a scourge; CMC apparently has a plan. Another thorny dilemma is how to account for "unknown market caps". Let's illustrate an example: I launch an ICO called MIKE & issue a trillion shares. I own 100% of MIKE. Then I sell one share to my trusted, old 4Rev pal Varun Sehgal for $1. And now I report to the world that I'm a trillionaire. You think I'm exaggerating. Not by much.

Here's what I see: decentralization is a noble goal; then reality sets in. To advance, crypto must adhere to similar if not exactly the same principles enshrined in the old-fashioned, centralized model. Purists shriek with horror: change is good. Real money won't move into the space until & unless ls it's clear volume numbers mean something & asset prices aren't rigged. Probably not yet perfect but it's a start.

...Syndicated From 2 Original Articles By Michael Creadon on LinkedIn

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Nice work @shanghaipreneur

Mike is prolific. Can you believe he writes about a bunch of other stuff besides crypto/blockchain? Grind and crank 'em out.

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