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Archive for the ‘Crypto News’ Category

The Ethereum (ETH) network will be undergoing a planned hard fork at block number 4.37 Million (4,370,000), which will likely occur between 12:00 UTC and 13:00 UTC on Monday, October 16, 2017. Ethereum users should update to the latest version of the Ethereum wallet/Mist if they are using it as well as any of the Ethereum clients – Geth, Parity or Harmony prior to the hard fork in order to be ready. Ethereum websites and mobile applications that allow you to store ether and/or make transactions are running their own Ethereum client infrastructure to facilitate their services and they should be doing the update as well in order to support he hard fork as well.

A hard fork is a change to the underlying Ethereum protocol, creating new rules to improve the system. The protocol changes are activated at a specific block number. All Ethereum clients need to upgrade, otherwise they will be stuck on an incompatible chain following the old rules. Metropolis is a planned Ethereum development phase that includes two hard forks: Byzantium and Constantinople. Byzantium is occurring at block number 4.37M (the hard fork happening tomorrow), while the second part – Constantinople does not currently have a release date, but is expected to happen some time in 2018.

Update: The hardfork has been successful, the new block reward is 3 ETH (down from 5), but also the effective block time and difficulty have pretty much halved, so in the end miners should still be able to get a better profit at the moment compared to before the fork.

Here is a countdown for the time remaining until the Byzantium Hard Fork of Ethereum…

The best way to promote crypto currencies is by using them and today, September 29th is #CryptoISCurrency Day, so put your coins to work and buy something with them on OpenBazaar or pretty much any other place that accepts crypto currencies as a form of payment. People should be able to buy products and services in a secure, private, decentralized, and uncensored way, from anywhere in the world, using money that shares their values and crypto currencies can do just that.

More about the Crypto IS Currency Day initiative and what it is all about…

The Cryptum ICO looks different than most crowdsales of tokens we’ve seen lately and if you are following us closely you know that we are not big fans of ICOs. It is not a single project, but a network of projects funding board games publishing with an interesting concept of providing supporters with returns of investment. More importantly the first game being released is called Blockchain: The Cryptocurrency Board Game. In it the players will compete for obtaining most Bitcoins and Ethereums by mining 85+ coins using 25 different crypto algorithms (with crypto coins taken from the real world). The Cryptum tokens issues by the project will be used for free access to all board games Cryptum is publishing (not only the Blockchain game) and there are already plans for 4 games and 5 expansions.

Cryptum will use the funding acquired from the crowdsale of tokens for three main projects – board game development, crypto mining and the release of a new cryptocurrency, plus maybe some small extra crypto currency related projects like an ICO listing website:
– Board games with 20% to 40% “shared profit” paid after each of the games Kickstarter campaigns, including the Blockchain: The Cryptocurrency Board Game.
– Mining project starting with 50% shared profit and lowered gradually to 30% by the end of a 2 year period after which the mining profit will be used only to fund further development of board games.
– Cryptumcoin should be launched later this year and will be used in some of the services, like for paying for advertisement in icodbase.com, and all token owners can receive some initial amount depending on how many tokens they own. Or they can mine it, as the developers promise good value and ASIC-proof algorithm.

Cryptum will pay back between 20% and 50% of the profits through optional claims (to avoid regulation and listing prohibitions in some exchanges and regions). Еvery feature is accessible by optional claim and if you don’t want to claim your profits based on current token ownership then they will be distributed to other token holders. The number of tokens issued will be limited and they will also be available for trading on crypto exchanges, though actually holding them might end up being more profitable on the long run.

When we initially heard about the idea for the Cryptum project we were quite interested and wanted to take part in it, especially the part about the Blockchain: The Cryptocurrency Board Game. As a result we are not only supporting the project, but our team actually got involved in the project development.

For more information about the upcoming Cryptum ICO visit the official website…


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