Square Is Hiring Crypto Engineers, Kakao Raises $90 Million To Develop Blockchain Network, ICOs Are Changing And Lightning Introduces Loop — The Crypto2Cash Chronicle
Your daily dose of crypto and blockchain news, summarized by the Crypto2Cash team
Square is hiring crypto engineers
Payments startup Square has announced that it will hire a number of Blockchain engineers and designers. The announcement was made via a Twitter post of Jack Dorsey, famous Bitcoin proponent and CEO of Twitter and Square. The post said that Square is looking for three or four engineers and one designer “to work full-time on open source contributions to the bitcoin/crypto ecosystem.” He further added that these new developers will focus solely on contributing to the crypto network and not on the commercial interest of square.
(Source: Coindesk)
Kakao raises $90 million to develop Blockchain network
Kakao, South Koreas biggest messaging app with over 44 million active users, has recently completed a $90 million funding round to develop their own Blockchain called Klatyn. This was the first step of many to migrate all of Kakao’s existing branches, including KakaoTalk, KakaoPay and many more, onto a Blockchain. The company also announced that it will be integrating a crypto wallet into KakaoTalk.
ICOs are changing
A study recently published by Coin360 has shown many interesting facts on how ICO’s are changing. Firstly the study concluded that ICO’s are becoming more professional, with around 70% of them noting a soft cap and a hard cap in the second part of 2018, in 2017 this figure only was around 40%.
Furthermore the study noted that ICO duration has been rising steadily from an average of 31 days in November 2017 to 97 days in February 2019, a sign that investors are more cautious and measured with their money. The average success rate also has increased significantly, with around two thirds of all ICO’s reaching their targets.
Lightning introduces Loop
Lightning Labs has released a new feature to the Lightning network called Lightning Loop. The new feature allows people to withdraw the Bitcoins they originally deposited to open up the Lightning channel. This is called “looping out” and allows user to receive more payments. The feature is expected to “contribute to the efficiency, scalability and usability of Lightning”.
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