We are excited to work with such a resourceful team at Poloniex to provide our community access to another exchange. Poloniex, now the highest-volume exchange of Monero, currency of anonymous-blockchain project CryptoNote, is now live with MSC trading followed by Maidsafecoin (MAID) trading expected soon after. Poloniex owner, Tristan D’Agosta, stated, “We are highly anticipating the Master Core release and will be adopting it as soon as it is available.”
By Dominik Zynis, Head of Business Development, Mastercoin Foundation
The Mastercoin Foundation is heavily invested in the success of Bitcoin, as most of our funds are denominated in bitcoin with the exception of the development Mastercoins which vest over eternity. So we are generally concerned about the price of bitcoin and whether ecosystem is evolving in a way that will increase that price and therefore lower our burn rate.
It is difficult to attribute direct causal relationships to events like the rise of bitcoin price in 2013. However, factors such as the following would appear to be major factors contributing to the double bubble that happened in 2013:
the halving in late 2012
the emergence of ASICs which are predominately produced by Chinese manufacturers
an influx of interest by high net worth individuals,
continued merchant adoption coupled with consumer adoption
So this begs the question of why the stagnation in price over the last 6 months even though we are seeing even more investment activity in the space.
If one views this from the perspective that the market is a guiding force perhaps one can deduce some patterns that affect the price leading to boom and bust periods.
I propose that this is due to two particular patterns:
Our development methodology in prior months revolved primarily around a generalized, broad milestone system; i.e., build block explorer, build wallet, build decentralized p2p trading functionality and so on. As the Mastercoin Foundation team transitions toward role-based bounties with an incentive structure that is designed for longer-term working relationships, Adam Chamley reports that Omni team is transitioning to two week sprints with version 0.9 underway (2 week sprint is 50% complete) focusing on high value issues, for more insight into this process see the Omniwallet Development Themes document.
Masterxchange & MaidSafe Progress
The Maidsafe automated token distribution system for those who purchased MSAFE tokens with BTC was completed last week. Balances may be seen using Omniwallet (test version)or at Masterchest.info.
Masterxchange.com is testing tools to send MSAFE, they should be announcing time frames for release soon.
Our Head of Security has provided a great workflow chart for our security processes.
Submissions come in via the email@example.com email address, the email is turned into a zendesk ticket and auto responded to with information about the bounty program. A user record is created that will be used to group submissions and save BTC and MSC address. The zendesk ticket is turned into a github issue in our private github. All details including a link to zendesk ticket are included. A blank issue with the submission title is also created in our public security github (this public issue is a placeholder and is created to track level, type, and expected award). Issues are managed internally by the security team classifying and validating the issues. Once patched issues are closed, copied over to the public github repo and closed in zendesk. The zendesk is part of the workflow to handle all the communication between the foundation and the researchers.
Mastercoin Foundation is growing and beyond hiring developers we have a need for two other people who will work to on-board new developers into the Master Protocol ecosystem as well as ensure that we are managing the feedback from stakeholders for the software that Mastercoin Foundation funds. The roles of Developer Evangelist and Product Manager are critical for this.
Furthermore, it is clear that Master Protocol and Bitcoin can some day function as a transaction technology for regulated financial securities, so long as there is development and nurturing of the technology and service provider ecosystem which would enable complying with securities regulations. Thus, in order to further engagement with businesses in the finance and banking sectors who are starting the process of integrating the recent crowd funding rules in the USA, and to ensure that we are able to engage with the regulatory officer counterparts at those businesses as well as regulatory bodies, we are seeking someone that can take on the role of Regulatory Engagement Officer. Continue reading “Mastercoin Foundation is Growing: Developer Evangelist, Product Manager and Regulatory Engagement Officer”→
TROON, Scotland, April 22, 2014 — MaidSafe (http://maidsafe.net/), creators of blockchain-like technologies that can decentralize nearly every aspect of the Internet, including all Web services, today announcedthe sale of $6 million of its software token, safecoin, in five hours, a record for any kind of crowd-sale. The initial $6 million was comprised of $4 million in Mastercoins (the sale took place using the Mastercoin Protocol) and $2 million in Bitcoin. Noticing the disparity, MaidSafe CEO David Irvine partnered with large buyers to purchase the last $2 million for Mastercoins and relist them for sale—under the exact same terms and at a fixed bonus award of 40 percent—for Bitcoins.
“This is the first sale of this magnitude by any company or foundation using the Mastercoin Protocol and it appeared that Mastercoin purchases were going through more quickly than Bitcoin purchases (which needed to be converted to Mastercoin), with no value fluctuation risk as the terms of 17,000 safecoins per Bitcoin were set and adhered to rigorously,” said Irvine. “In order to be fair to the Bitcoin purchasers, we bought the final $2 million with Mastercoins so we could have a more orderly, fair chance at getting safecoins to everyone who tried to get in the first day. Continue reading “News Alert: MaidSafe Sells $6 Million of Bitcoin 2.0 Software in Five Hours”→
Come join Mastercoin Foundation’s board members and executive staff, Craig Sellers, CTO, in NYC on April 7th to celebrate with our host Tatiana Moroz at the NYC Bitcoin Center.
We will be making special announcements around smart tokens via Master Protocol on the Bitcoin network. And get the chance to focus the discuss on how Bitcoin technology can work with the Entertainment industry.