🚫 Indiegogo quietly cancels its first ICO after raising $5.2 million for Indiegogo alum Fan Controlled Football League (FCFL). Though they haven't provided a definitive reason for the recall, all signs point to a regulatory crackdown.
⚡️ Hydroelectric dam to be used for cryptomining in New York. DPW Holdings intends to repurpose hydroelectric dam Valatie Falls by Q4 2018 to source hydroelectric power for crypto mining operations.
🔎 Search giant Baidu is joining Alibaba and Tencent in censoring crypto-related content. The company is looking to ban forum topics that discuss crypto-related activities on Baidu Tieba, its Reddit-like platform. Currently, the "digital currency" and "virtual currency" subforums are unavailable.
⚠️ Critical EOS RAM exploit. Right now, an EOS user can install code that allows them to insert rows under another account, sending them tokens. This "lets them lock up RAM by inserting large amounts of garbage into rows when dapps/users send them tokens." The team's spun up a temporary fix until a proper solution can be implemented.
🚨 We're giving away $800 worth of BTC. And you only have to submit your email to be in the running.
READ OF THE DAY
📖Layer 1 should be innovative in the short termbut less in the long term. Vitalik on the tradeoffs between building more functionality into base-layer blockchains themselves (layer 1) and focusing on protocols on top of the blockchain (layer 2).
📖 Token bonding curves in practice. An article by Paul Kohlhaas that explores the practical use of token bonding curves and curation markets to fund, curate, and distribute ownership of intellectual property.
THOUGHT OF THE DAY
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.
"Reputation, one of the largest components of identity, has long been the engine society. But on the internet, it has largely warped into a competition to maximize number of likes, favorites, retweets, and shares. We’ve strayed away from the efforts that make content and products truly reputable and instead over-index on the end result. It doesn’t matter what you put into the web as long as what comes out matches a nebulous metric for success. And that’s wrong.
There’s a very simple reason for this behavior: we don’t know what the systems to derive reputation look like on a global scale."
Have thoughts on reputation in Web 3.0? Submit them by directly replying to this email, and we'll feature our favorite response in a future issue.
Short for Single Point of Failure. A SPOF is a part of a system that, if it fails, will stop the entire system from working. In a Web 3.0 world, a centralized entity or component of a system is generally considered a single point of failure.