An Initial Coin Offering will be launched on the blockchain of Bitcoin (BTC) by the end of 2018. This is indeed a great news for the Bitcoin (BTC) community. Over the years, Ethereum and other blockchain projects have been the preferred choice for a lot of firms that want to create new digital currency tokens.
Sidechains Give Bitcoin the Ability to Host ICOs
Bitcoin (BTC) – the largest blockchain in the world by market cap – will now be a part of this competition. Thanks to a sidechain developed by RSK, bitcoin will now be able to host the new mechanism of fundraising also. The original concept of an Initial Coin Offering was first initiated on the blockchain of Bitcoin (BTC).
However, Ethereum came onboard with a much easier and better blockchain infrastructure. This stole the heart of most entrepreneurs that are interested in raising funds via Initial Coin Offerings.
Later in November, Temco will leverage both the technology of RSK and the seminal idea to launch a public token sale. Temco is a blockchain startup based in South Korea. The startup is targeting supply chain management, and they aim to raise $19 million in the public token sale.
RSK started working its smart contract sidechain for the world’s most dominant blockchain project since 2016. RSK wrote the smart contracts in Solidity. The network is also driven by “smart Bitcoin (SBTC)” – a Bitcoin-pegged digital currency. The sidechain of RSK is still in its beta phase, and only a couple of digital currency projects are currently deploying smart contracts on the platform.
Bitcoin Will Likely Compete with Ethereum in the Future
Scott Yoon, the CEO of Temco, and Joey Cho, the head of business head development at Temco, commented on the recent development. They believe that Bitcoin blockchain will soon be a home to an enormous number of digital currency projects. They also believe that it will have the functionalities of Ethereum one day.
Coinfloor Slashes Its Employee Numbers in a Blow to Bitcoin (BTC)
Coinfloor was launched back in 2013, and it’s the oldest Bitcoin (BTC) trading platform in the United Kingdom. The firm recently revealed that it wants to cut down on the number of its employees in a blow to Bitcoin (BTC).
Bitcoin (BTC) is known for its high level of volatility. However, the digital currency has been stagnant over the past month. The digital currency has been stuck between $6,200 and $6,800 throughout last month. Investors have been waiting patiently for when the digital currency will get back on its feet.
According to a report by Forbes, the CEO of Coinfloor, Obi Nwosu, said that the firm has seen a considerable level of change in trade volume all over the market. He said the firm is presently restructuring its business model to focus on their competitive advantages in the space. The restructuring will also help them to serve their customers better. He said they are making some redundancies and staff changes as part of the restructuring.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin (BTC) is currently changing hands at $6,594 after an increase of less than one percent over the past 24 hours. The world’s most dominant digital currency has a market cap of $114.15 billion with a trading volume of $3.34 billion over the past twenty-four hours.