Crypto News, August 24 2018: Green Day

Highlights: Plasma goes open-source, Loom expands its ecosystem, and new opportunities for blockchain developers.

OMG Plasma Repo Now Available

Source: Omisego

An alpha release of the Omisego network repository is now available on Github. The initial release of the Plasma implementation is built on proof-of-authority, with the goal of moving towards proof-of-stake in later releases. Plasma has currently been released on an internal testnet but is not yet ready for a public launch.

Loom’s Chains, Explained

Source: Medium

The Loom Network published a post today updating the community on their tech stack, specifically detailing the three sidechains they currently have in production - PlasmaChain, GameChain, and SocialChain. In short: PlasmaChain is a bridge to Ethereum enabled by Plasma Cash, which allows token transactions to happen across other sidechains without hitting the mainnet. GameChain executes most of the logic traditionally handled by a backend server, and is a sidechain of PlasmaChain. Finally, SocialChain is a sidechain for social applications which uses ERC20 tokens to reward users for contributions. The entire ecosystem seems to be developing nicely; the full details are definitely worth a read at the source linked above.

AirGap Open-Source Vault

Source: AirGap

AirGap, an open-source mobile application, is now available. The app is meant to be loaded on an old or unused mobile device, which the user then disconnects from the internet. Then, using a current mobile device where public information is stored, transaction details can be created and a QR code can be generated. The old device scans the QR code and is able to approve the transaction; then, another code is generated so the current device can scan and submit details to the blockchain. In short, “AirGapping” devices ensures that private keys remain on a device that never connects to the internet.

Komodo Rebranding Announcement

Source: Komodo

The Komodo platform will be teaming up with Denver-based design firm Ideas by Nature to rebrand to Komodo 2.0, an overhaul which will involve changes to the brand identity, strategy, and of course, assets like their logos and website. Full details of the timeline and implementation can be found at the source linked above.

ETF Denials to be Reviewed

Source: Twitter

Yesterday’s denials of 9 ETF applications by the SEC will be reviewed by the Chairman and the Commission. As explained in the tweet above, the denials came from staff delegated to make the decisions, and the actions that led to those decisions are going to be reviewed.

U.S. Customs Blockchain Project Begins Testing Soon

Source: CoinDesk

The United States Custom and Border Protections agency have entered a proof-of-concept phase for their shipment tracking system and will begin testing it after Labor Day. The system is meant to address inefficiencies in the current paper-based system.

Announcement: GitCoin Requests

Source: Medium

We’ve been using Gitcoin for a while to seek blockchain development bounties, and the launch of Gitcoin Requests expands the functionality of that space. Gitcoin has received funding from sources like the Ethereum Foundation to fund other open-source initiatives related to web3 tech, meaning repo maintainers and independent developers can now submit requests to Gitcoin to fund bounties for fixing issues. Gitcoin also published a more detailed article regarding the implications of such an ecosystem, particularly for the current employment model. We detail this a bit in our video segment, but the source article is also worth the read.

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Written content adapted/edited by @thepinkfreudian.