• eMusic launches digital token
    Alt coins

    eMusic led the way with MP3 downloads. Can it do the same on blockchain?

    The 22-year-old music company has launched digital tokens so artists are fairly compensated when songs are bought… but there are a few drawbacks

    eMusic was one of the first companies to bring song downloads to the internet—now, it’s attempting to be a trendsetter once again by embracing blockchain.

  • Reddit crypto-based rewards
    Ethereum

    ‘This is adoption’—Reddit rolls out crypto-based rewards system

    The Community Points program pilot will reward frequent and popular posters in two subreddit forums with Ethereum-based tokens usable on the site. If successful, it could put a cryptocurrency wallet in 430 million Redditors’ hands

    Reddit has officially unveiled Community Points—a crypto-based rewards system that will allow users to build their reputations and accrue ERC-20 tokens on the Ethereum blockchain. The social network said contributors will be able to earn points whenever they submit quality posts or make meaningful comments that drive conversations forward.

  • MakerDAO bringing Bitcoin to Ethereum
    Alt coins,  Bitcoin,  Ethereum

    MakerDAO bringing Bitcoin to Ethereum blockchain

    It’s hoped the addition of ‘wrapped Bitcoin’ will give the DeFi sector a much-needed boost, but bridging the two blockchains is fiddly to say the least; tBTC pitched as a better alternative

    Wrapped Bitcoin—an ERC-20 token that is backed on a 1:1 basis with BTC—is now being accepted as collateral for MakerDAO loans. It’s a significant development, not least because the crypto community has lamented the lack of a bridge between BTC and ETH for some time.

  • Tether launches gold-backed cryptocurrency
    Cryptocurrencies,  Tether

    Tether launches gold-backed cryptocurrency

    The new Tether Gold tokens will be backed by one fine troy ounce of gold stored in a secure Swiss vault, the company said

    Tether launched a gold-backed cryptocurrency, tether gold (XAUT), that can be redeemed for one fine troy ounce of gold stored in a secure Swiss vault—assuming you can redeem 430 tokens currently worth about $670,000 at once.