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Token Daily for August 23



"They still won't be approved but this is hilarious: 'the Commission (Chairman and Commissioners) delegates some tasks to its staff. When the staff acts in such cases, it acts on behalf of the Commission. The Commission may review the staff's action, as will now happen here.'"

- Matt Odell on the SEC going back and reviewing the rejections that went out yesterday. 



🏠 Selling real estate shares on the blockchain Indiegogo is promoting a "real estate scheme" where accredited investors can buy shares of the St. Regis Aspen hotel in the form of digital tokens - Aspen Coins. The hotel's reportedly looking for $18 million of investment in security tokens.

⚒ Bitmain is losing its monopoly over cryptocurrency mining Although Bitmain controls as much as 85% of the crypto mining equipment market, Canaan Inc. and Ebang International Holdings are catching up. And according to Bitmain CEO Jihan Wu, up to 40% of Bitmain's profit over the next 5 years could come from selling AI chips instead of mining equipment. 

🇬🇧 UK government pilots blockchain as a way to secure digital forms of evidence.

💸 Bittrex is now enabling USD trading

🚨 We're actually giving away BTC 800 dollars worth to be exact. And you only have to submit your email to be in the running. 



🚀 Binance Labs Incubation Program Binance's incubation program is a 10-week on-site program designed to help early-stage teams with the resources and mentorship needed to build their products and bring them to market.


🔬 Crypto Table Submitted by TD'er Jesal Gadhia, Crypto Table is "a periodic table of cryptocurrencies" that arranges each asset by use case. 



📖 Bitcoin ETFs, Custodians, and Collateral. Nik Bhatia assesses some of the pros and cons of the financialization of bitcoin.



Opinions and observations from our readers. Have a thought you'd like to share? Reply directly to today's issue, and we'll review your submission.

James Prestwich:
"We can write declarative contracts in Solidity today. In fact, Solidity has been adding features that make it more declarative. And the best practices for Solidity (like Checks-Effects-Interactions) are declarative. The community already recognizes this need, even if they haven't named it yet.

To write declarative contracts in Solidity, we move the logic of the contract into a set of require function calls. These statements have access to the current state of the contract. Then, instead of providing arguments to a function, the user calls the function with the end state they want. The new state is verified by the require calls. They compare it to the current state, and check that any changes made are allowed. If all requirements are satisfied, the new state is written over the old state.
Below is a simple declarative game." 

To learn how to write a declarative smart contract in Solidity, check out James' full post over here.   

Can normal people use it?

Part of Richard Burton's four questions to consider when creating a great wallet. The other three questions are right over here





Tony Sheng breaks down the difference between rents and fees by describing rent-seeking as the practice of acquiring economic gain without creating value for users. By contrast, fees can only be charged if the user values the service enough to pay it.

The problem in crypto is people cry "rent-seeking" whenever they see a fee. According to Tony, fees that are not rents include:

  • Transaction fees that secure a protocol like Bitcoin or Ethereum
  • Founders reward that funds a foundation like Zcash
  • Transaction fees that incentivize network participation like 0x
  • Transaction fees in non-fungible token (NFT) collecting games 
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