From the Front Page


XCP Weekly Update #14 - New Symbiont Development

Published on August 30th, 2015 by Robert Ross


Weekly Update #14:

Robert Ross is a Counterparty Foundation Community Director and the Director of FoldingCoin Inc. Each week Robert and various guests will bring you the news of what has been going on in the Counterparty communities and also touching base on the other Bitcoin 2.0 communities.

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Please contact me rross@foldingcoin.net with any Counterparty projects you are working on with suggestions to feature them on the show. Or contact me if you would like assistance or advice on how you can create your project on the Counterparty platform. I may not be able to answer your question or help your project, but I will do my best to find the person who can.

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This show is not intended for investment advice.

Counterparty News:

Symbiont launched its first blockchain-based private security earlier this month, converting its founders’ shares, convertible preferred shares and convertible note terms to function on the blockchain. Symbiont CEO Mark Smith opened up on the firm and its market strategy, suggesting that the private equities market will be its main focus. The FX trading veteran and founder of early ETrade alternative MatchBookFX called a robust private securities market “the only future” given that many startups are avoiding public offerings. Adam Krellenstein indicated that Symbiont has created its own “full-featured smart contract language” that works with bitcoin using embedded consensus, and that was built from the ground up to be transferable to other blockchains. “We have a smart securities system, it’s a layer on top of bitcoin, it encodes execution data and publication data in transactions, publishing to the blockchain, so all the data is on the bitcoin blockchain,” Krellenstein said. With this developed, he continued, Symbiont is now focusing on developing its front end and APIs, which will seek to enable its clients to use the technology on their own. Krellenstein suggested this technology was different from token-based systems, such as those in use at Overstock’s tØ platform. Symbiont has not applied for a BitLicense in New York, but suggested it is in talks with FINRA and the SEC to ensure its compliance. “We don’t touch fiat or crypto, we don’t money transfer,” Smith said. “Our customer is responsible for KYC and AML that they sponsor onto our permissioned network. We’re never a counterparty for a trade, we never custody a currency fiat or crypto."

Project News:

Guess what? Now I like video games, It's a mirable!

We are ready for Test Group B. We will give users a few hours before we take a snapshot and distribute 100,000 SJCX in rewards for the second milestone. Any SJCX address can participate for testing purposes, but to receive a reward holding a 10,000 SJCX balance is required. If you haven’t already joined Test Group B, you can find a step-by-step guide to our client software here. If you already installed the software in the previous email, an upgrade to version 1.3 is mandatory to receive a reward. Non-crowdsale participants will have to contribute to the rewards pool at a later date (we would rather move forward on testing and do that later). We are happy to have you with us and look forward to reaching the 1 PB milestone with your help!

  • GetGems has released their development update #16. In this update Gems has announced a few new things. Gems has hired Chen Eilat who is a problem solving enthusiast, focusing on the user’s needs. 3 new features are available on the Android version of GetGems (iOS to come later I am assuming) and they are:
  1. Smart Contextual Stickers: Forget the boring smileys, inconvenience of searching for Gifs, now GetGems analyzes your text and highlights key words and phrases that can easily be replaced by native Telegram Stickers and cool gifs!

  2. Quick Money Transfer Button: Gems added the Gems Button, now you can send and tip Gems with one click.

  3. Telegram Merge: This update also includes the latest Telegram code (3.1.2)
  • IndieSquare has released a new update the mobile wallet. There is a discussion going on at the CounterpartyTalk forums. The following is a list of the newest features:
  1. push notifications, Right now, only between IndieSquare wallets but in the future will be available for any incoming transactions. By setting up your username from setting, your name will be include in the other party's notification

  2. Sign out of the account

  3. Token icons for bitcoin and XCP

  4. you need to type in your pin to see the passphrase

In the Community

Proof of Burn works exactly the way you thought: instead of burning electricity you should destroy your digital coins. No, you do not have to format your hard drive. You "burn" them by sending to such address where they cannot be redeemed. For example, to the address, which is a hash of a random number: chances for someone picking public and private keys for it are negligible.

Shout Outs and Sponsorship's

  • None this week

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