In Wednesday’s installment of The Daily, we examine the trailer for Crypto, the new Kurt Russell movie that ticks off every cryptocurrency cliche in the book. We also detail a new provably fair blockchain platform for the iGaming industry from Faireum. We begin, though, with a look at the token launchpad craze, which has spread to several leading exchanges.
Token Launchpads Are the New Stablecoins
A few months ago, everyone was launching their own stablecoin. Now it’s exchange-integrated ICO launchpads. Following on from the success of Binance Launchpad, whose featured token sales have been significantly oversubscribed, a handful of other exchanges have followed suit. Bittrex IEO launches on March 15, Bitmax Launchpad is already operational and Huobi Prime, Kucoin Spotlight and Okex IEO are all on their way.
Exchanges seem to have spotted a new revenue stream that’s popular with traders, who in turn relish the ease of participation and the potential for a quick flip, given that new tokens are guaranteed to be exchange listed. It remains to be seen whether there is sufficient demand to sustain six exchange-integrated token launchpads, with Crypto Narnia best capturing the sense that some of these new platforms may be little more than a poor man’s Binance.
Faireum Enters the Provably Fair Betting Game
Provably fair betting and cryptocurrency were made for one another. Last week, news.Bitcoin.com reported on Nakamoto Game which operates on the Bitcoin Cash network. Now, Faireum is preparing to go one step further by launching an entire blockchain dedicated to online gambling. The Faireum iGaming platform, which is currently in beta, features thousands of casino games including slots and card games, with a provably fair model enabling punters to ensure verify the outcome of events.
The project claims to overcome the problems associated with Random Number Generators (RNG) used in conventional online casinos, which can be skewed by unscrupulous operators through modifying certain parameters. To combat this, Faireum combines the block hash with a zero-knowledge proof to create a RNG that cannot be deduced.
Crypto Movie Piles on the Canards
With a plot involving a tangled web of fraud and deceit, recounted from the perspective of an AML officer, Kurt Russell’s latest flick sounds like just another generic action movie. And it is, but despite its corniness, it’s succeeded in getting the crypto community talking thanks to its tenuous connection to their world. Packed with Russian mafia and snappy dialogue like “No phone number, no email, just $10m in cryptocurrencies,” Crypto – tagline “Fear is the ultimate currency” – aims for the obvious and judging by its trailer, released on March 11, hits its target.
What are your thoughts on the stories in today’s news roundup? Let us know in the comments section below.
Images courtesy of Shutterstock and Crypto Narnia.
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