Overstock sold its first cryptobond, the cryptography team at Blockstream unveiled its first prototype sidechain and more top stories for June 9.
Overstock Sells World’s First Cryptosecurity
Overstock has become the first company to solicit qualified institutional buyers in a digital corporate bond which will trade using blockchain technology. CEO Patrick Byrne purchased the world’s first cryptobond for US$500,000. The pioneering development is part of the company’s larger cryptofinance initiative known as Medici, on which Overstock expects to sell a total of US$25 million in digital bonds.
Overstock CEO Patrick Byrne said:
“The cryptorevolution has arrived on Wall Street […] We’re making it official by offering the world’s first cryptosecurity.”
Blockstream Unveils Much Awaited Sidechain Prototype
After eight months of developing its much anticipated sidechains project, which aims to turn Bitcoin into a more versatile platform for innovative decentralizing applications, the cryptography team at Blockstream has unveiled its first prototype sidechain. Company president and hashcash inventor Adam Back called on the Bitcoin community to provide Blockstream with feedback.
“We are now inviting the technical community […] to join in and participate and try out and comment on, and actually suggest changes or improvements”
Web-Wallet Providers Divided over Andresen’s 20 MB Block Size Increase Proposal