Bitcoin Global News (BGN)
August 03, 2018 -- ADVFN Crypto NewsWire -- What if I told you
that over $100 million of Crypto is about to be given out, for
free?
According to a recent
report released by Coindesk, a
project called Handshake has secured over $10 million in
funding.
Joseph Poon, who is best known as the creator
of Bitcoin’s Lightning Network, is leading this project in
connection with several other big players like Andrew Lee, the
CEO of Purse, which is a company that acts an exchange
location for Amazon gift cards and Cryptocurrencies.
On top of this, the project is
already backed by heavy-hitter Venture Capitalists like
the Founders
Fund and Polychain Capital, which are both
known for leading the charge in terms of traditional finance
backing the Blockchain space.
What is most interesting about
Handshake, however, is its plan to release a large amount of Crypto
coins and tokens into the community for free, which begs the
questions: how and why?
According to Poon, one of the major
reasons for doing this is to eventually “kill” the ICO space
including its overall importance.
The way that they hope to do this
is through what they term the uniqueness of their project’s basic
technology.
At its heart, Handshake will
exist as a simple Blockchain that does what Blockchains do
best.
In other words, it will serve to record transactions between
all of its users.
Beyond this, Handshake aims to
change how companies prove ownership of domains and products
through allowing them to publish ownership of these items on the
project’s main chain and thus, prove it forever.
While this may not seem to be a
unique idea so much as a repetition of what almost every Blockchain
project aims to do, leaders and VCs like Ryan Zurrer, an executive at Polychain Capital,
seem to think otherwise.
In Coindesk’s piece on the subject,
Zurrer was basically quoted as saying that Polychain sees Handshake
as an interesting social experiment that bears watching.
On top of this, it plans to release
a multitude of tokens for free to promote its usage, which it has
compared to the early age of Bitcoin
faucets that aimed to promote Bitcoin usage.
As Handshake moves forward, time
will tell if it releases further information related to how it
intends to stand out from the pack, but having such leadership as
well as such investors can only bode well for its
future.
By: BGN Editorial Staff
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