Algorand [ALGO] – Algo Capital Closes $200M Financing Round

In addition, the company raised about $66 million previously from investors including Union Square Ventures and Pillar Venture Capital. That is a …
Algorand [ALGO] - Algo Capital cierra una ronda de financiación de 200 millones de dólares

Algo Capital, the financial institution behind the innovative Algorandblockchain announced on Tuesday the closure of their funding round towards the Algo VC Fund. More than $200 million was raised from several noteworthy investors including Brainchild, NGC Ventures (NEO Global’s venture arm), TechCrunch founder’s Arrington XRP Capital, Eterna Capital, GSR, Cognitive Blockchain, Rokk3r Inc, Wibson, Tezos investor 11-11 Ventures, DG Ventures, Winslow Strong, and Invermaster. This was markedly greater than their goal of $100 million.

The Algo Capital is a separate entity from the Algorand Foundation as well as the Algorand LLC two of the main entities that are helping build the Algorand ecosystem. Despite this, Algo Capital will be using the funds to “invest in category-leading businesses that are building on the Algorand technology platform” according to a press release published on Tuesday. The fund will only be used to support Algorand specific blockchain startups.

The latest fundraiser adds to funds that were already raised in previous events. For instance, Algorand conducted a relatively successful token sale earlier this summer raising $60 million through CoinList platform. In addition, the company raised about $66 million previously from investors including Union Square Ventures and Pillar Venture Capital. That is a massive war chest that will be allocated specifically to improving and developing on the Algorand blockchain.

funds Algo VCfunds Algo VC

So far Algo Capital has revealed the initial beneficiaries of the funds. One of them is Securitize, a blockchaincompany building a security token issuance platform akin to the popular IEO model except that the tokens are regulatory compliant. Then there is BlockDaemon, a blockchain infrastructure, and middleware orchestration platform. IDEX and OTCXN, both exchanges close out the initial list as revealed by Algo Capital. IDEX is second largest decentralized exchange by trade volume, initially the leading before Binance launched its DEX platform. OTCXN is an institutional exchange and cross-custodian settlement platform.

The Algo Capital was founded and is led by David Garcia, a veteran blockchain investor, Pablo Yabo, a blockchain technology expert as well as entrepreneur-turned VC Arul Murugan. In a statement, Murugan said that,

“Our investment approach specifically targets companies that are creating the next great blockchain applications and infrastructure solutions, and as a result, helping to speed blockchain adoption and bring millions of new users into the Algorand network.”

Algorand is a Proof of Stake (PoS) network that seeks to provide the same services that Ethereum offers only with better throughput. It has the capability to support decentralized applications (dApps) and has an active developer population. Ethereum is eyeing a PoS consensus mechanism with its major upcoming network-wide overhaul. It is currently plagued with slow transactions speeds and rising network fees. Now that Algorand has a head start, maybe it will be too late for Ethereum by the time it migrates to PoS over the coming to years.

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Ethereum Classic (ETC) Suddenly Rockets 30% in a Week But Why?

Last but not least, the Ethereum Classic event is also going to take place in the first week of October, and generally, the price of a token rises when …
Ethereum ClassicEthereum Classic

While Ethereum has been in the middle of a bit of flux due to the halving and other associated factors, Ethereum Classic has been surging. The coin jumped by as much as 30% over the past week and much of the gains have been due to the slew of positive news that has come about with relation to Ethereum Classic.

The coin started off the past week at $5.50, and today it has climbed to as much as $7.20 as more and more investors piled onto it. Here is a look at some of the reasons why it rose by that much.

Key Drivers

One of the biggest reasons for optimism with regards to Ethereum Classic is the upcoming Atlantis Fork that is going to take place on September 13 next week. It is believed that the fork event is going to improve security considerably on the blockchain, and that has become a source of excitement for many investors. In addition to that, the Atlantis Fork is also expected to lead to better compatibility with Ethereum as well.

Ethereum Classic Labs, which has been a center of research and development, has also made an important announcement. In a new development, it has emerged that North Block Capital, an investment group based out of London, has joined the Studio Program.

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The association with North Block Capital could prove to be a hugely important event since the investment group is going to help sell the token in Asia. As everyone knows, Asia remains one of the most important markets for cryptocurrencies. As far as crypto usage and development are concerned, the continent is lightyears ahead of many other regions.

Last but not least, the Ethereum Classic event is also going to take place in the first week of October, and generally, the price of a token rises when such an event takes place.

Featured image: DepositPhotos © zentilia

DigixDAO (DGD) Price Hits $19.26

The ICO – or initial coin offering – raised $5.5million to acquire the 85% of the DGD tokens. “ DigixDAO Token Trading. DigixDAO can be traded on the …

DigixDAO logoDigixDAO (CURRENCY:DGD) traded down 0.5% against the US dollar during the 24-hour period ending at 8:00 AM Eastern on August 21st. DigixDAO has a market cap of $38.52 million and approximately $740,542.00 worth of DigixDAO was traded on exchanges in the last 24 hours. One DigixDAO token can now be purchased for about $19.26 or 0.00189545 BTC on cryptocurrency exchanges including HitBTC, OKEx, Binance and Radar Relay. In the last week, DigixDAO has traded down 7.7% against the US dollar.

Here is how similar cryptocurrencies have performed in the last 24 hours:

  • XRP (XRP) traded down 3.7% against the dollar and now trades at $0.26 or 0.00002604 BTC.
  • Binance Coin (BNB) traded 3.5% lower against the dollar and now trades at $27.20 or 0.00267384 BTC.
  • Tether (USDT) traded down 0.5% against the dollar and now trades at $1.00 or 0.00009802 BTC.
  • Bitcoin SV (BSV) traded 5.4% lower against the dollar and now trades at $133.49 or 0.01312218 BTC.
  • Stellar (XLM) traded 1.8% lower against the dollar and now trades at $0.0680 or 0.00000668 BTC.
  • TRON (TRX) traded 3.7% lower against the dollar and now trades at $0.0170 or 0.00000167 BTC.
  • Chainlink (LINK) traded down 8.1% against the dollar and now trades at $2.24 or 0.00022022 BTC.
  • Tezos (XTZ) traded 3.3% lower against the dollar and now trades at $1.13 or 0.00011136 BTC.
  • NEO (NEO) traded 3.7% lower against the dollar and now trades at $9.46 or 0.00092995 BTC.
  • COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.

DigixDAO Token Profile

DigixDAO (DGD) uses the hashing algorithm. It was first traded on April 28th, 2016. DigixDAO’s total supply is 2,000,000 tokens. DigixDAO’s official Twitter account is @DigixGlobal. The official message board for DigixDAO is medium.com/@digix. DigixDAO’s official website is digix.global. The Reddit community for DigixDAO is /r/digix and the currency’s Github account can be viewed here.

According to CryptoCompare, “The DAO token is built on ethereum. The ICO – or initial coin offering – raised $5.5million to acquire the 85% of the DGD tokens. “

DigixDAO Token Trading

DigixDAO can be traded on the following cryptocurrency exchanges: Bitbns, Binance, IDEX, Gate.io, OKEx, AirSwap, Radar Relay, Liqui, HitBTC, Bancor Network, Huobi, Livecoin, Cobinhood and BigONE. It is usually not presently possible to buy alternative cryptocurrencies such as DigixDAO directly using US dollars. Investors seeking to acquire DigixDAO should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy DigixDAO using one of the aforementioned exchanges.

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Ethereum Classic (ETC) Shooting Up in a Plummeting Crypto Market. Here’s The Reason

Ethereum Classic (ETC), the 18th largest cryptocurrency by adjusted … On the 7-day Ethereum Classic price chart, ETC is seen to steadily rice up the …

Ethereum Classic (ETC), the 18th largest cryptocurrency by adjusted volume has been rising in a tumbling crypto market today

CryptoMarketapp

Wednesday morning, ETC had surged up by nearly 6% from its closing price on Tuesday by gaining about $0.11. Within one hour, ETC had grown further by another 1% pushing the price further against price gravity to record an outstanding 7.1% price surge.

ETC 7-day Price Chart

At the moment, Ethereum classic is trading at $6.11 and maintains a market cap of $691.16 million with a 24 hours trading volume hovering around $897 million.

Hard Fork Catalysing Price Surge

On the 7-day Ethereum Classic price chart, ETC is seen to steadily rice up the chart. Ethereum Classic is likely seeing this price surge owing to its inbound hard fork. The upgrade is expected to include mining difficulty adjustments, the introduction of proof of zero knowledge, and preparation for denial of service attacks.

Traders have, therefore, diverted their attention towards this cryptocurrency with the hope that its forthcoming hardfork will spell good news as was seen previously with Byzantine and Spurious dragon hardforks.

The Atlantis hard fork for Ethereum Classic (ETC) has been officially set to occur at block 8,772,000 on the blockchain Tuesday, September 17, around noon UST.

Summary
Ethereum Classic (ETC) Rising In A Collapsing Crypto Market, Here's The Reason.
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Ethereum Classic (ETC) Rising In A Collapsing Crypto Market, Here’s The Reason.
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Ethereum classic rises up the charts against all odds ahead of its Atlantis fork in september
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Dare Shonubi
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Coingape
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DisclaimerThe presented content may include the personal opinion ofthe author and is subject to market condition.Do your market research before investing in cryptocurrencies.The author or the publication does not hold any responsibilityfor your personal financial loss.
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Are Decentralized Autonomous Organizations Back?

Dai retains its value through several feedback mechanisms that have been implemented as a system of smart contracts on the Ethereum blockchain.
Are Decentralized Autonomous Organizations Back? 101
Source: iStock/scanrail

Despite the infamous ‘The DAO’ hack, which somewhat tainted the name of decentralized autonomous organizations, DAOs have been witnessing a resurgence in the past twelve months.

At least this is what Circle Research analysts claim in their 2Q2019 Crypto Retrospective Report.

A decentralized autonomous organization, commonly referred to as a DAO, is a blockchain-powered virtual organization that operates independently of a central authority based on a set of predefined coded rules. DAO stakeholders (such as token holders, members or contributors) vote on proposals provided by the community on how the DAO’s funds should be spent. When a proposal is approved through voting, funds are dispersed automatically through the use of smart contracts.

The idea behind a DAO to effectively manage the funds of a decentralized cryptocurrency project where all key stakeholders can have a say in how the project’s funds are managed.

1xBit

According to Circle Research, a number of new DAOs have launched in the past year, which may suggest that we can expect more DAO activity going forward.

Currently, some of the most notable DAOs include MolochDAO, Aragon, dxDAO, MakerDAO, and the DashDAO.

  • MolochDAO was launched in early 2019 to help to manage and coordinate funds for Ethereum core development
  • Aragon is a decentralized application (dapp) that provides infrastructure for blockchain projects to create and operate DAOs
  • dxDAO is a community-driven decentralized autonomous organization that was created by the Gnosis project in May to control the DutchX decentralized trading protocol
  • MakerDAO is a smart contract protocol that operates the DAI credit system and is governed by the MKR token holder community
  • DashDAO acts as the de facto treasury for the digital currency Dash (DASH) where community members submit proposals that require funding and the community votes on each proposal. 10% of newly issued DASH goes to the DashDAO to enable the project to fund its ecosystem without requiring outside assistance.

Are there any achievements?

Most DAOs are still early-stage projects that are yet to show whether they will succeed in their mission or not. However, we have already been able to witness some achievements by DAOs:

MolochDAO raised funds for Ethereum core development

In May 2019, ConsenSys founder Joseph Lubin announced that the MolochDAO has managed to raise over USD 1.5 million in ETH from the likes of ConsenSys, the Ethereum Foundation, and Vitalik Buterin, co-founder of Ethereum. The funds are to be used to fund the further development of the Ethereum project.

The MakerDAO managing the Dai stablecoin

The MakerDAO administers the popular stablecoin, Dai (DAI), which has its value linked to the U.S. dollar. Dai retains its value through several feedback mechanisms that have been implemented as a system of smart contracts on the Ethereum blockchain. Since its launch in late 2017, Dai is largely managed to retain its peg to the dollar. However, earlier this year Dai was trading below its dollar peg and MakerDAO stakeholders had to initiate an Executive Vote to raise the Stability Fee.

Watch the latest reports by Block TV.

Dai price chart:

Are Decentralized Autonomous Organizations Back? 102
Source: coinpaprika.com

The DashDAO funding the DASH ecosystem development

Arguably the biggest success in the DAO space has been the DashDAO. DashDAO has helped the cryptocurrency Dash (DASH) to become and remain one of the leading digital currencies in the market today. Any member of the Dash community can write a proposal and receive funding from the DAO. Hundreds of proposals have been passed for things such as marketing efforts, awareness building, and, of course, development.

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Decentralized autonomous organizations (DAOs) are an exciting area within the blockchain space that has the ability to disrupt existing business structures and funding models. In 10 to 15 years, it will be very interesting to see how the DAO space has developed.

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