July 21, 2018

Bitcoin Magazine’s 7 days in Review: Charity Cash and Dim Web Operate-Ins

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This 7 days, the U.S. Office of Justice and other legislation enforcement organizations banded jointly to bring down some undesirable actors on the dim web. EOS is undergoing some developing pains with the launch of its community, exposing the trials and tribulations of an all-far too-centralized governance product.

It was not all unsavory information, even though. A new $300 million crypto fund was released by Andreessen Horowitz to aid expand the ecosystem, and Coinbase’s CEO commenced a cryptocurrency charity fund that now has $1 million to get the job done with.

We witnessed some noteworthy technological enhancements this 7 days as effectively with the announcement of the ERC-1155 token typical for Ethereum. The new typical will develop on and improve ERC-721’s operation, the very same typical utilised to tokenize non-fungible property like CryptoKitties.

Showcased stories by Jimmy Aki, Colin Harper, Erik Kuebler and Nick Marinoff.

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DOJ, U.S. Businesses Seize More than $12M Bitcoin in a Slew of Dim Web Busts

The U.S. Office of Justice, in cooperation with the Immigration and Customs Enforcement’s Homeland Protection Investigations (HSI), the Top secret Assistance (USSS), the Postal Inspection Assistance (USPIS) and the Drug Enforcement Administration (DEA), have apprehended far more than 35 dim web drugs and arms dealers in a nation-vast bust. In the nation’s initially inter-agency crackdown on dim web operators, the sweep finished in the confiscation of navy-quality weapons, drugs and drug production equipment, $3.6 million in hard money and gold bars and in excess of 2,000 bitcoin, valued at all around $12 million.

Andreessen Horowitz Has Released a $300M Crypto Fund

Monetary business Andreessen Horowitz has established a new $300 million crypto fund that is devoted to investing in cryptocurrencies and other blockchain-linked initiatives. Named a16z crypto, the new fund has the business delving further into the cryptocurrency space to expand its existing portfolio, which consists of digital forex exchange Coinbase. In a statement posted on the company’s site, basic spouse Chris Dixon states that the a16z crypto fund offers the business with the versatility to commit in any location of its selecting, from standard equities to digital tokens. As a final result, the business will be ready to commit in both providers and the tokens people providers generate.

Enjin Coin CTO Makes ERC-1155, a New Token Common for Ethereum

Co-founder and CTO of Enjin Coin Witek Radomski has designed the ERC-1155 token, a new typical for defining movie activity tokens on the Ethereum blockchain. Radomski was liable for the improvement of the ERC-721 non-fungible token typical that was utilised in the improvement of CryptoKitties. The new protocol will allow for an infinite range of both fungible and non-fungible products to be deployed as a result of a solitary deal, a breakthrough that has ramifications for tokenized asset management for the gaming sector and beyond.

EOS Founder Wants to Scrap the Platform’s Structure, Begin Anew

The very long awaited EOS launch transpired before this month, but it has not been without having its issues. Daniel Larmier, the founder and specialized architect of EOS, has verified that he wishes to scrap the platform’s current structure and develop a new one. Talking on the EOSIO Gov Telegram Channel, Larmier revealed that he has doubts about the company’s current on-chain governance product and known as the existing structure “unwise.” Whilst Larmier has a proposal to change the complications, people for the change would have to outnumber people from it by 10 %. They would then have to maintain this placement for 30 consecutive days within just a 120-day period of time, so even if Larmier does get his way, we’re not most likely to see the emergence of a new structure for a minimum amount of four months.

Coinbase CEO Brian Armstrong Launches Cryptocurrency Charity Fund

On June 27, 2018, Coinbase CEO Brian Armstrong announced his new cryptocurrency charity fund, GiveCrypto. Armstrong established the philanthropic enterprise to economically empower individuals with direct cryptocurrency distributions. The charity has now lifted $1 million from prominent cryptocurrency group members, and it strategies to raise $10 million by the finish of 2018 and $1 billion in excess of a two-year time body. The nonprofit’s mission is to give 100 % of its cryptocurrency contributions to impoverished individuals, an altruistic aim that at the same time drives cryptocurrency’s true-environment utility.

This article initially appeared on Bitcoin Magazine.