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Distributed Digest: Tuesday, February 19, 2019




PlasmaChain staking goes live, DutchX 2.0 smart contracts are deployed, and Afri Schoedon updates the Ethereum community.

Your daily distillation of crypto news for Tuesday, February 19, 2019:

Delegators Unite!

The Loom Network announced yesterday, February 18, that its Plasma Cash-based sidechain, PlasmaChain, is officially open for staking. Holders of LOOM, the network's native token, can become delegators and stake their coins toward validators.

PlasmaChain runs a delegated proof-of-stake consensus model, meaning "delegates" (called validators) are selected to validate the network. Validators are chosen by delegators, or users who stake their LOOM on parties they believe can best secure the network. Those with the largest staking pools become the official validators of PlasmaChain.

Any LOOM holder can act as a delegator and stake on validators, with delegators retaining ownership of their tokens throughout the staking process. Further, much like proof-of-work networks have block rewards for miners, validators on PlasmaChain receive guaranteed block rewards over time as a sort of payment for validating the network. Validators can then choose to share some of the funds with their delegators.

The current list of PlasmaChain validators includes the groups Mythos, bitfish, MW Partners, Chorus One, ShipChain, and Block Matrix. However, Loom plans to onboard more validators every month "to further decentralize the network."

DutchX 2.0

Christiane Ernst of Gnosis today announced that EDCCs (aka smart contracts) for the second version of the DutchX decentralized trading protocol have been deployed to mainnet. Ernst said the "primary aim with this new deployment is to provide the dxDAO … with the auctioneer powers of the DutchX."

Gnosis ceded its auctioneer powers, or control over the protocol's six modifiable parameters, with the first version of the DutchX's smart contracts. This decision was made to prevent centralized control of the DutchX.

With the DutchX 2.0, however, these powers are being shifted to the dxDAO, which is the decentralized autonomous organization responsible for the protocol's governance. The dxDAO has not been launched yet due to security reasons, but projects can integrate with the DutchX 2.0 in the meantime.

Afri Speaks

Earlier today, Afri Schoedon took to Twitter to dispel any misinformation about the recent Ethereum community debacle. He maintains that he has not quit social media, only Ethereum. "I am no longer coordinating hard-forks, building testnets, or contributing otherwise," he continued.

Schoedon also said he never worked on Polkadot, the project he mentioned in an earlier tweet that was later criticized by the community. Further, he said all his Ethereum contributions from 2015 until now have been unpaid except for his work on the Parity Ethereum client. With that in mind, he is "no longer interested in spending [his] free time" within the Ethereum community.

"I did not hate Ethereum, I loved it," he closed.

Dani Putney

Dani is a full-time writer for ETHNews. They received their bachelor's degree in English writing from the University of Nevada, Reno, where they also studied journalism and queer theory. In their free time, they write poetry, play the piano, and fangirl over fictional characters. They live with their partner, three dogs, and two cats in the middle of nowhere, Nevada.

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