The Atlantis hard fork for Ethereum Classic (ETC) has been officially set to occur at block 8,772,000 on the blockchain, according to the Ethereum Classic Improvement Protocol (ECIP) finalization call via Discord on June 20. As per the discussions in the call, the developers and contributors had previously considered putting the hard fork at block number 8.75 million, which is predicted to run on September 15. However, since the 15th is a Sunday, ETC Labs moved to increase the block number in order to have the projected update during the week, when more involved parties, such as exchanges and developers, …

In the crypto industry, there are many examples of how a conflict of interest has led to a company split. Perhaps, the largest ones are the forks of bitcoin (BTC), bitcoin cash (BCH) and the Ethereum (ETH) network. As a rule, the reason lies in disagreements related to the philosophy of the project, its development or financial components. Various views on how the platform should be managed led to the conflict of interest at the headquarters of MakerDAO. It all started with the fact that Andy Milenius, the company’s chief technology officer, left the project, as reported by Cointelegraph on …

Cryptocurrency exchange Ethfinex, the sister exchange of Bitfinex, has launched a test decentralized autonomous organization (DAO), the company confirmed in a blog post on June 12. Ethfinex — which earlier this month launched a decentralized over-the-counter (OTC) trading platform — said it wants to decentralize control of its operations. The DAO was built by DAOstack and is known as efxDAO, with an initial funding budget of $5,000. “Today we reach an important milestone in our path to decentralised governance of Ethfinex,” the exchange’s community lead, Ben Wilson, wrote in the blog post. Wilson added: “We have collaborated with decentralisation protocol …

Decentralized Autonomous Organization (DAO) developer cooperative dOrg has created a limited liability company (LLC) to grant its native DAO legal status, according to a report by independent law firm Gravel & Shea on June 11. As its name implies, a DAO is a firm with no centralization or hierarchy, and is instead governed by open source digital rules on a blockchain — a smart contract — and operated publicly by users via a consensus voting mechanism. According to Gravel & Shea, the native DAO of dOrg, underpinned by the DAOstack framework, is now the first legally established entity of its …

United States-based blockchain incubator and investment firm Blockchains, LLC, has acquired the German Ethereum dev team slock.it, according to a press release on June 3. Slock.it’s team is reportedly around three dozen large, and is known for its creation of the now-defunct decentralized autonomous organization (DAO) project “The DAO.” Co-founders and brothers Christoph and Simon Jentzsch will reportedly join Blockchains as VP of technology and director of blockchain development, respectively. During the first few months of the acquisition, the newly-linked organizations will reportedly ship a line of open-source tools for Ethereum developers. As per the organizations’ acquisition agreement, teams will …

Major United States-based cryptocurrency exchange and wallet service Coinbase has added support for EOS, according to a press release on May 30. The new addition is reportedly available for trading and storage in most areas covered by Coinbase, with the exception of the United Kingdom and New York at press time. The announcement also notes that there are no transaction fees associated with EOS; the cost is instead paid in computing resources, such as a tax on RAM, CPUs, or network bandwidth. Users that run the network also earn EOS by contributing to the computational power needed to run transactions. …

The decision to lower the so-called stability fee for MakerDAO’s Ethereum blockchain-based decentralized stablecoin DAI by 2% has been executed on May 28. The original vote for Maker (MKR) token holders was announced on the organization’s blog on May 17, with a proposal to decrease the stability fee by 2% to 17.5% per year. According to the announcement, the need to decrease the fee was discussed during the MakerDAO governance call that took place on May 16. However, the proposal originally failed, as it did not get the number of votes required to reach its quorum. After that, according to …

Major cryptocurrency platform Coinbase now supports stablecoin Dai (DAI), according to an official press release on May 23. Coinbase says that the token can be purchased and sold, sent and received, and converted or stored in most jurisdictions on its platform, with the exception of New York, for now. DAI is designed to maintain a 1:1 value with the U.S. dollar, but is backed collateral on the MKR platform. Both Ethereum-based token MKR and DAI are issued by MakerDAO. However, DAI has been worth under $1 for much of 2019, which has sparked five voting sessions from DAO users on …

A vote about whether to decrease the so-called stability fee for MakerDAO’s ethereum blockchain-based decentralized stablecoin DAI has started. The vote was announced on the organization’s blog on May 17. If approved, the latest proposal would decrease the stability fee by 2% to 17.5% per year. According to the announcement, the need to decrease the fee was discussed during the MakerDAO governance call that took place on May 16. MakerDAO is looking to change the yearly stability fee in an attempt to improve the token’s peg to the U.S. dollar after its exchange price has been hovering above the $1 …

MakerDAO, the Decentralized Autonomous Organization (DAO) behind the DAI stablecoin, announced a critical security update to its governance contract in a Reddit thread published on May 6. Per the announcement, during the second round of security audits part of the DAO’s partnership with crypto exchange Coinbase and smart contract security startup Zeppelin, a critical vulnerability had been discovered in the governance smart contract. Zeppelin also released an independent critical vulnerability notice. While the announcement claims that the tokens of users who have staked MKR tokens in the contract are not in danger, it also advises users to move them. Still, …

DAI stablecoin, which is pegged to the United States dollar, is now in a relatively stable position, according to the president and COO of MakerDAO, Steven Becker, in an Q&A session on May 2. The transcript of the meeting, which focused on demand and supply imbalance, appeared on Reddit. Becker discussed the efficacy of the stability fee alongside MakerDAO’s head of community development Richard Brown and Vishesh Choudhry of the company's Foundation Risk Team. According to Becker, DAI is now stable thanks to the community’s implementation of the stability fee. “Consider the peg is stable. However it is stable at …

Andy Milenius, formerly the chief technology officer at MakerDAO, published an open letter dated April 3 explaining his concerns over the project’s internal conflicts. MakerDAO is the company behind the decentralized algorithmic Ethereum-based stablecoin DAI as well as the governance token Maker (MKR). In his 24-page-long letter, Milenius describes a conflict between his ideas of equal workspace and democratization true to a Decentralized Autonomous Organization (DAO) and his fellow executives’ desire for a traditional corporate efficiency. The text accuses Rune Christensen, the CEO of the company, of having tried to take control over the DAO, causing the project’s core developers …