Ethereum Foundation Makes Second Crypto Donation to UNICEF

Ethereum Foundation Makes Second Crypto Donation to UNICEF

The Ethereum Foundation followed up on its 2019 gift to the United Nations Children’s Fund (UNICEF) this week with a second cryptocurrency donation. 

UNICEF crypto portfolio manager Cecilia Chapiro said the fund is now accepting applications from startups in emerging markets to receive investments via this second donation of roughly 1,125 ether (ETH), or $262,000 at press time. 

“We are still looking for big donors … also from a technical expertise perspective, we’re always matching our startups with mentors in the space,” said UNICEF blockchain lead Christina Lomazzo. “We’ve not received any more bitcoin, beyond what we got from the Ethereum Foundation [in 2019].” 

Related: Reddit Seeks Scaling Solution for Ethereum-Based ‘Community Points’

There’s no set number, but Chapiro expects to find five to 10 attractive startups for equity-free investments worth $100,000 each. The fund is in talks with other prospective donors, but so far none that could be named for this article.

“When we are going through a global crisis we decided to make a new round of investments to help mitigate the effects of the COVID-19 crisis,” Chapiro said. “It’s the first time we’re doing a call for applications where we’re doing funding in both USD and crypto.” 

According to a press statement, the fund is especially keen to invest in projects that “enable decentralized deal-making, for example through decentralized marketplaces” that “enable people to use, earn, and hold cryptocurrencies,” or “collect, aggregate and validate datasets for blockchain oracles.”

Related: Colombian Government and WEF Weigh Public Ethereum in Bid to Fight Corruption

So far, UNICEF has invested crypto in nine startups in nations including Mexico, India, Turkey, Argentina and Chile. Investments in Bangladesh’s W3 Engineers and Cambodia’s Somleng to date have only been in USD, UNICEF said. Many of the projects from this first round, which may receive a second investment, focused on communication networks. 

For example, the 10-person startup StaTwig in India, founded in 2016, received a government contract to develop a blockchain-based app for tracking rice deliveries in low-income areas. 

“We’re creating the supply chain layer as a base layer, one of the requirements from the government is that we use Ethereum,” said StaTwig co-founder Sid Chakravarthy. “The program benefits 128 million people. … There are close to 2,000 retail shops that get rice from these meal houses.” 

He estimated 250,000 people benefitted from or relied on this application, even if indirectly. He said receiving the investment from UNICEF was the startup’s first time using cryptocurrency. It has received ether and now plans to run an Ethereum node.

“We’re also looking at vaccine supply chains,” Chakravarthy said. “This program didn’t start just because of the virus, in developing countries you have subsidized food programs.” 

Because of the pandemic, poverty is an even bigger problem because many people are out of work. Nonprofit organizations and governments around the world are exploring a variety of blockchain solutions during the pandemic. 

Rakib Islam is another such recipient, founder of W3 Engineers in Bangladesh since 2009. There are now roughly a dozen employees, out of a total of 100, working on a blockchain project for peer-to-peer messages that include coronavirus emergency updates. 

“We want to help the communities in emerging markets handle COVID-19 more effectively,” Islam said. “[Apple and Google] contact tracing isn’t very useful if the community doesn’t have connectivity.”

W3 Engineers also received an investment from Ethereum Classic Labs, $150,000 in fiat, so the team uses both Ethereum and Ethereum Classic blockchain solutions to develop its messaging app. This app was built for people who don’t have access to SIM cards or decent WiFi. Instead, Islam said, the Android mobile app relies on mesh networks and points tallied via an ERC-20 token. 

See also: Bootstrapping Mobile Mesh Networks With Bitcoin Lightning

“The refugees don’t have any tender, any currency, and they don’t have any way to make money because they must stay within the camp. … We thought we should offer a type of point system,” Islam said, describing how the messaging app was developed with feedback from some of the Rohingya refugees in Bangladesh. “Every user, we’re using them to be a node and the role of the phone is to transfer data through them, even if I don’t have an internet connection I can be transferring the information and making a large mesh network.”

Meanwhile, in Cambodia, UNICEF crypto recipient David Wilkie is working on a like-minded communications startup called Somleng. Wilkie described the project as “an open-source cloud communications platform which is currently being used in Africa and Southeast Asia to deliver voice messages to communities affected by COVID-19.”

He added the startup doesn’t plan to run an Ethereum node and doesn’t have a plan yet for how to use cryptocurrency. The funding, however, will enable further development throughout 2020. 

As such, UNICEF’s Chapiro emphasized the fund seeks to invest both fiat and crypto in selected startups. 

“Each company will receive up to $100,000 in USD and on top of that they will receive bitcoin or ether,” she said.  

Her colleague Lomazzo added the fund is especially interested in startups that “protect user data” and include diverse teams.

  • Ethereum Foundation Makes Second Crypto Donation to UNICEF
  • Ethereum Foundation Makes Second Crypto Donation to UNICEF

Source: finance.yahoo.com

Author: Leigh Cuen


Cardano News Today – Cardano Will Beat the Ethereum Beast According to Charles Hoskinson – June 18th, 2020

Cardano News Today – Cardano Will Beat the Ethereum Beast According to Charles Hoskinson – June 18th, 2020

  • Charles Hoskinson Says Cardano Will Beat the Ethereum Beast
  • Cardano ADA Regains Bullish Momentum as the Cardano Shelley Mainnet Launch Draws Closer

Cardano News Today – Charles Hoskinson might be the co-founder of Ethereum and the founder of Cardano but he has always favored the Cardano blockchain over Ethereum. On more than one occasion, Hoskinson has asked people to refrain from calling him the co-founder of Ethereum because he wants to be remembered primarily for his work in the development of Cardano. During his most recent interview, Hoskinson said that Cardano is superior to Ethereum. This isn’t the first time he is making such a comment. However, he said that the cryptocurrency community will soon understand why he believes that Cardano is better than Ethereum.

Ethereum 2.0 is the final version of Ethereum. The Ethereum development team has been working on this project for years. It is supposed to be the final version of the Ethereum blockchain. However, Hoskinson strongly believes that Ethereum 2.0 isn’t going to be as good as Cardano after the Shelley mainnet launch. The Cardano development team has been working hard to bring the Cardano Shelley mainnet to full completion. In his words;

“We’ve built a lot of stuff to get some of the best programmers in the world into our system. The guys who write Haskell Code they’re not normal developers. They’re not JavaScript kitties these they all have twenty years developer experience. A lot of them are domain experts and financial engineers because they’re writing Haskell for Barclays Bank, they’re writing Haskell for Wall Street Shops.”

Cardano (ADA) Price Today – ADA / USD

Hoskinson said that Cardano provides something that no other blockchain platform provides. The blockchain allows people to work on several distributed applications that offer value in different parts of society long-term. He talked about the Voucher Program that they are working on in Ethiopia. This program allows people, farmers, to access a blockchain-based financial system. Using this process instead of the traditional method will help them earn 20% more income. This is just one of the many applications that are based on the Cardano blockchain.

After days of moving downward, the Cardano ADA token has started rising against the USD. The token has surged by more than 6% against the USD in the last 24 hours. The token is currently $0.082168. It is up by 3.93% against the USD and up by 4.44% against Bitcoin BTC. The trading volume is $318,309,996 and the market capitalization is $2,130,385,853. Over the last 30 days, the token has increased by more than 55%.

News Source

Source: elevenews.com

Author: Published 20 hours ago


Reddit Seeks Scaling Solution for Ethereum-Based ‘Community Points’

Reddit Seeks Scaling Solution for Ethereum-Based ‘Community Points’

Reddit is anticipating big demand for its Ethereum-based “Community Points” system only one month after rolling out the product.

Now the social media site is looking for a scaling solution.

Posted in the r/Ethereum subreddit Thursday, Reddit announced a partnership with the Ethereum Foundation to find a Layer 2 (L2) scaling technique for the site’s 430 million users. Community Points are earned by garnering “upvotes” on posts and can be used to purchase specialized GIFs or emojis.

Related: Ethereum Foundation Makes Second Crypto Donation to UNICEF

A blockchain for decentralized applications, Ethereum has been eyeing various scaling techniques since its mainnet launch in 2015. 

The scaling debate has been siloed into two parts: Current work on Ethereum’s Proof-of-Work (PoW) blockchain called Eth 1.x and the future Eth 2.0 update, which promises “unbounded” scaling via two technologies called Proof-of-Stake (PoS) and sharding. Eth 2.0, sometimes referred to as Serenity, remains a highly technical project with no firm timeline, though an initial phase is tentatively slated for later this year.

Related: Colombian Government and WEF Weigh Public Ethereum in Bid to Fight Corruption

Conversely, Ethereum’s Devcon 5 in Osaka, Japan, in October 2019, exhibited product-ready L2 options such as ZK-Rollups and Optimistic Rollups from the Plasma coding group, now operating under the name Optimism. For example, decentralized exchange IDEX currently trades on its own variant of the product.

However, Reddit is looking for a product that is focused on social media. As the post notes, most L2 solutions have focused on exchanges, which require fast transaction times that most blockchains cannot handle. 

“Many of these designs don’t take into consideration the costs of obtaining tokens or entering the scaling system, which can be significant,” the post states. “Community Points distributions have cost an order of magnitude more gas than all other operations combined, primarily due to on-chain storage costs associated with onboarding new users.”

Applicants are asked to submit proofs-of-concept by July 31 with reviews concluded by September. Unfortunately for these Reddit developers, the only reward is notoriety. 

“This is your chance to earn some fame but, to be clear, there is no prize if your solution is chosen or modified to meet Reddit’s needs. Our lawyer made us write this,” the post states.

Update (June 18, 21:15 UTC): Updated with comment from Ethereum Foundation Executive Director Ayako Miyaguchi.

  • Reddit Seeks Scaling Solution for Ethereum-Based ‘Community Points’
  • Reddit Seeks Scaling Solution for Ethereum-Based ‘Community Points’

Source: finance.yahoo.com

Author: William Foxley


Reddit Asks Ethereum Community for Help to Scale Tokens for 430M Users

Reddit Asks Ethereum Community for Help to Scale Tokens for 430M Users

Опубликовано: 18 июн. 2020 г.

Social content platform Reddit is continuing to push forward with its Ethereum-powered ‘Community Points’ reward system, announcing that it is seeking developers to help it scale the tokens up for use by all of its 430 million monthly users. On June 19, Reddit revealed it was partnering with the Ethereum Foundation to call for projects building Ethereum ( ETH ) scaling solutions.“Our goal is to find a solution that will support hundreds of thousands of Community Points users on mainnet today, and can eventually scale to all of Reddit (430 million monthly users),” Reddit posted. Reddit will accept applications from interested developers until July 31, 2020. Reddit’s announcement emphasizes there are some unique requirements, noting that many existing Ethereum scaling solutions are aimed at exchanges and optimized for transactions.“Many of these designs don’t take into consideration the costs of obtaining tokens or entering the scaling system,” Reddit said. “Community Points distributions have cost an order of magnitude more gas than all other operations combined, primarily due to on-chain storage costs associated with onboarding new users.”Reddit emphasizes that it is currently “unclear how to determine the best solution”, noting that despite significant hype surrounding use-cases comparable to its points system, “there are very few objective real-world reviews or comparisons of various products/implementations.”Reddit invites “all scaling experts in the Ethereum community” to submit scaling demos in the comments section of its announcement, stressing that “all demos need to simulate Community Points usage for 100,000 users.”The platform also requests that scaling experts provide commentary on proposals submitted by other community members so it can better understand the trade-offs that result from various solutions. Demos should include “a live proof of concept showing hundreds of thousands of transactions,” source code, and detailed breakdown of cost estimates, APIs, and how to operate the proposed scaling architectures. Over a five-day period, proposals should be able to handle 100,000 point claims, 25,000 subscriptions, 75,000 one-off point burns, and 100,000 transfers. In May, Reddit announced that it plans to migrate its points system from the Rinkeby testnet onto the Ethereum mainnet before the end of the year. Rumors of Reddit’s crypto-powered rewards first surfaced during early April , with trials for Community Points being launched for the cryptocurrency and Fortnite subreddit communities last month. So far, 17,413 Fortnite-playing Redditors have signed up for the rewards system, while it’s crypto community members have only created 3,646 wallets.

All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/reddit…

#reddit #jpmorgancryptocurrency #ethereumpricecoinbase #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange

Reddit Asks Ethereum Community for Help to Scale Tokens for 430M Users: https://www.youtube.com/watch?v=hq-CG…

Source: www.youtube.com


Ethereum Foundation Makes Second Crypto Donation to UNICEF


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