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Will Stellar Win the Battle for Blockchain Talent by Acquiring Chain (a Blockchain startup)?

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Stellar

Most of the professionals who are experienced and skilled at developing Blockchain based applications are not your typical Silicon Valley programmers and engineers. In fact, hardly will you find any of the leading developers of Blockchain technology living or working in Silicon Valley. Generally, there is a seeming disconnect between open source platform developers and creators of commercial products for software companies in Silicon Valley.

Why are there few Blockchain developers in the Valley?

The reason for this is simple. Most developers who are experts at creating open source Blockchain and cryptographic platforms are millionaires. Blockchain initiatives and cryptocurrency startups are investing heavily into the crypto space and as the wall street journal puts it, a developer can earn as much as $1 million in bonus offers alone.

Furthermore, the lines between industry and open source projects continue to get thinner going forward and multi-billion conglomerates are continuously looking to invest more in talent so as to build sustainable solutions. Coinbase, for instance, is planning to increase spending on open source Blockchain based projects with products such as the open source fund that is designed to attract the best Blockchain talent.

With the profits made by Blockchain and cryptocurrency based companies like Coinbase, it’s easy to see that a good number of Blockchain companies can easily afford to pay leading Blockchain developers in the range of millions for a single project. Simply put, Blockchain talent is rare and in demand.

Trudging the tough terrains of talent in the industry

However, Blockchain companies are still finding it tough to retain the best talents in the industry. For example, BitGo (a Bitcoin security startup) lost one of its leading developers (Alex Bosworth), who left the company to go work on the implementation of the lightning network.

As it seems, developers in the Blockchain and crypto space find it more fulfilling to work on open source projects that advance the industry as a whole instead of working for individual companies. Could the case be different for open source projects like Ethereum and Stellar?

Stellar’s search for Blockchain talent

Thankfully, Stellar is one of the leading open source Blockchain enterprises that connect banks, to payments systems so as to enable individuals to move money quickly. In fact, Stellar is currently in talks with Chain (a San Francisco based tech company that builds financial industry Blockchain based technologies).

According to Fortune, Stellar is looking to acquire the startup for a sum of $500 million that will be paid in stellar lumens (XLM). Chain has the engineering talent to develop Blockchain technology hence the move by Stellar to acquire this Silicon Valley-based startup makes total sense.  Even though Stellar has yet to disclose what it intends to do with Chain once the deal goes through, it is highly likely that Chain’s pool of leading developers will be working to build Stellar’s open source products if the deal becomes successful.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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