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| October 18, 2018

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America has a record 7.1 million job openings. It might be time to ask for a raise

October 17, 2018 |

The United States has a record number of job openings, another sign workers have greater opportunity to find better jobs, according to data the Labor Department released Tuesday.

The nation had 7.136 million job openings in August, the highest on record since the Labor Department began tracking…


L.A. Times – Business

Trump Called It a ‘Scary Time’ for Men. Now It’s a Viral Song

October 10, 2018 |

When addressing the allegations against then-Supreme Court nominee Brett Kavanaugh last Tuesday, President Trump had this to say : “It is a very scary time for young men in America, when you can be guilty of something you’re not guilty of.” Fast forward one week, and those words have found a…
Newser

First Major Bitcoin Cash ICO Raises $30M in Record Time

October 9, 2018 |

First Major Bitcoin Cash ICO Raises $  30M in Record Time

On Oct. 8, 2018, the blockchain firm and mining pool Viabtc finished the first high-value initial coin offering (ICO) using the Wormhole protocol and Bitcoin Cash chain. According to exchange data, the Viabtc Token ICO raised US$ 3,700 per second capturing a total of $ 30 million in 2.2 hours.

Also Read: Electron Cash Developer Reveals In-Wallet BCH Fundraiser Prototype

Viabtc Launches Token Sale and Distribution Phases

First Major Bitcoin Cash ICO Raises $  30M in Record TimeThe firm Viabtc had recently launched a new token called the Viabtc Token (VIAT) using the Wormhole protocol. The company refers to viat as a value-added service and privilege token that can be used as “gas” or a method of value transfer. When viat was issued on the Wormhole network a fixed supply of 2 billion tokens was set by the developers. On Monday Viabtc raised $ 30 million during the first major ICO issued on top of the Bitcoin Cash blockchain. Then on Oct. 9, Coinex users who trade the viat token will receive an airdrop from the firm’s stash of CET tokens.

First Major Bitcoin Cash ICO Raises $  30M in Record Time
According to the Coinex accelerator page, the Viabtc Token ICO sold 750M VIAT raising US$ 30M on Oct. 8, 2018.

Viat will be used for a process called ‘Duo mining’ which gives miners normal pool payouts but also an added payout of viat as well. The viat mining payouts will be released in four phases and will give miners extra incentives to join the pool. The mining pool says that users can invite friends to mine with Viabtc and with a referral link they can receive more payout rewards. Viat owners can also use the currency for discounts toward pool fees and “exclusive customer support.” The tokens will be able to purchase mining accessories, Viabtc souvenirs, and the company’s BTC transaction accelerator.

“[The] Viabtc Token can be used as ‘gas’ and value transfer tool,” explains the mining pool. “We will add more application and privileges to it so that its holders can participate in the planning of Viabtc operations, building and improving Viabtc ecosystem together with the Viabtc team.”

First Major Bitcoin Cash ICO Raises $  30M in Record Time
The Viabtc Token can be found on a token-supporting block explorer.

Crypto-Companies Launching Incentive Tokens for Service Discounts Is Trending

Besides trading, viat will solely be used for Viabtc services only in order to bolster the firm within the blockchain industry. The Viabtc Token project is lead by the mining pool’s founder Haipo Yang, and the firm’s COO Huimin Ouyang. Viat will also be subject to a repurchasing plan and a burning process according to the viat ICO’s whitepaper.

“Viabtc will buy back and ‘burn’ viat with 20% of its quarterly revenue at the end of each quarter — This will reduce the total amount of viat steadily on a benign deflation model,” the whitepaper details.

Viabtc adds:   

The repurchase details will be announced timely and the ‘burning’ transactions are available for checking on the blockchain to ensure transparency.

Cryptocurrency companies who have created incentive-based tokens for certain services and privileges have done well over the last year. For instance, the trading platform Binance and it’s BNB token has managed to position itself at the top 14 highest market valuation out of 2,000+ digital currencies.

First Major Bitcoin Cash ICO Raises $  30M in Record Time
VIAT is available for trade with the following trading pairs; USDT, BCH, CET, and BTC.

Viabtc’s exchange Coinex and its CET token also use these coins for incentives and CET is currently worth around $ 0.03. According to the trading platform’s data this Tuesday, viat is trading for $ 0.04 per coin and has over a million USDT in trade volume.

What do you think about the Viabtc Token (VIAT)? Do you think there will be more big ICOs using the Bitcoin Cash network? Let us know what you think in the comments section below.


Images via Shutterstock, Viabtc, and Coinex. 


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com.

The post First Major Bitcoin Cash ICO Raises $ 30M in Record Time appeared first on Bitcoin News.

Bitcoin News

Anthony Weiner Eyes Shorter Prison Time

October 9, 2018 |

Seems Anthony Weiner has been a good boy—for the first time in a while. The former Congress member is having his 21-month sentence for sexting with an underage girl reduced due to good conduct, the New York Post reports. The Federal Bureau of Prisons says Weiner’s time at the…
Newser

An Internet Bill of Rights? One California representative says the time has come

October 7, 2018 |

By July of 2019, Rep. Ro Khanna (D-Fremont) aims to see the House of Representatives pass landmark legislation shielding consumers from the onslaught of data breaches and the anxiety and confusion over the misuse of their personal information on the web.

To nudge such legislation along, Khanna…


L.A. Times – Business

For First Time in 24 Years, a New No. 1 on Forbes 400

October 3, 2018 |

Jeff Bezos recently became the richest person in modern history , and on Wednesday came another milestone for the Amazon founder: For the first time since 1994, Bill Gates has been unseated at the top of the Forbes 400. Bezos is the first new No. 1 in 24 years, with a…
Newser

This Rat Disease Has Infected a Human for the First Time

September 29, 2018 |

For the first time ever, a strain of hepatitis E that heretofore only affected rats and ferrets has infected a human. The case occurred in Hong Kong, where a 56-year-old man living in public housing contracted the disease, the South China Morning Post reports. It’s a “wake-up call,” said Yuen…
Newser

Italy Faces Crunch Time on Budget

September 25, 2018 |

Italy’s new populist government has until Sept. 27 to make a difficult decision: How to reconcile its expensive election promises with the reality of the country’s fragile finances.
WSJ.com: What’s News Europe