Bitcoin, Crypto currency, Blockchain

Ethereum-based projects forms Ethereum Community Fund

The Ethereum-based projects OmiseGo, Cosmos, Golem Maker, Raiden Network and Global Brain Blockchain Labs yesterday, announcing the 15.02.2018 the establishment of the “Ethereum Community Fund” (ECF). The ECF aims to encourage the further development of the Ethereum infrastructure and decentralized applications on the Ethereum Blockchain, and thus in the long term, the Ethereum network strengths.

The objective of the ECF is to create an innovative environment and a common platform for the various Teams and projects can work together to be part of the Ethereum Ecosystem. In addition, the ECF will take over the coordination between existing projects, in order to create a common basic infrastructure for the Ethereum Ecosystem.

The founding team of the Ethereum Community Fund consists of:

  • Jae Kwon (co-founder of tender mint and Cosmos)
  • Julian Zawistowska (founder of Golem)
  • Jun Hasegawa (founder of OmiseGO)
  • Rune Christensen (founder of Maker)
  • Yasuhiko Yurimoto (CEO and founder of Global Brain Blockchain Labs, one of the largest risk capital providers in Japan)

Among the advisers to the ECF, the founder of Ethereum, Vitalik Buterin, and is the Executive Director of the Ethereum Foundation, Ayako Miyaguchi.

Jun Hasegawa said in a OmiseGo blog post that the pooling of common Strengths and competencies will provide the basis to create a network that will not only change the Blockchain industry, but also the world.

I strongly believe this technology has incredible promise, but only by laying a strong foundation can we hope to see this technology reach its full potential and gain mainstream adoption. This begins with investment now in public infrastructure that is scalable, versatile, and decentralized. One project in isolation can create a product to disrupt an industry, but by working together we can create a framework that will change the world.

OmiseGo

OmiseGo is a project that the motto “Unbank the banked” followed. The aim of the project is to develop a decentralized Exchange, the transactions in real-time processes at low cost.

On the decentralized exchange in both cryptocurrencies as well as Fiat currencies can be traded and exchanged.

Goal of OmiseGo is, according to the white paper, the people, have no access to banking, to allow OmiseGo and the Wallet of a equivalent access to financial services and to replace the classical banking. The basis for this is the Wallet from the OmiseGo.

This should be a virtual Cash card, direct debits, and perform real-time billing.

Maker

The Maker-Token is a rather complex construct, which is always to be used in connection with the currency DAI. The DAI is like Tether, a”Stable-Coin”, i.e. a “stable” crypto-currency, which has the objective to keep the exchange rate of 1.00 Dollar.

The Maker-Token in this context is the management of currency, what price to absorb the fluctuations, thus, the DAI remains the course of about a $ 1.00.

Note that Ethereum is held as a security from the Maker to guarantee the liquidity of the System. Smart Contracts track the prices of Ether and DAI and liquidate automatically Ethereum as needed.

Golem

Golem is an Ethereum-based project in the field of Cloud Computing, which is similar to Amazon AWS or Google Cloud, just decentralized.

The Golem network, users can rent computing power for a fee or book. This works on the Installation of the Golem client.

The payment network via the Golem Network-Token. How much computing power will cost the buyer and how much the provider receives, and is controlled by Ethereum Smart Contracts.

Cosmos

Cosmos intends to create a network of distributed ledgers (Blockchains), in which many independent block chains in so-called zones can co-exist.

Raiden

The Raiden-network provides a Protocol solution to the scaling problems of the Ethereum network.

In this case, the Protocol Ethereum is intended to complement, and not replace it. In Boom times, like in December 2017, as the crypto kitties were in the Trend, increased the transaction costs of Ethereum is relatively strong.

The confirmation times were relatively long. An adaptation in the Mainstream at the time was not possible.

Raiden should have a solution for you. With Off-Chain transactions, the scalability is solved the problem of Ethereum (and all of the ERC-20 tokens).

The Raiden Protocol is to enable 100,000 transactions per second (VISA creates in comparison with only 45,000 transactions per second), and thus the processing is virtually in real time with low fees.

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