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Smart Contract Blockchain Cypherium Launches Crowdsale Registration Today
Bitcoinist | Sep 09, 2020 | 17:29
Cypherium, one of the most eagerly anticipated blockchain projects that’s yet to launch, is about to open for crowd sale registration. Set to go live on September 9, the registration portal will enable participants to make a claim for Cypherium Token (CPH). CPH is designed to serve as gas for executing smart contracts and transacting on-chain. The chain in question, CypherBFT, uses the same consensus algorithm as LibraBFT and is thus fast and highly scalable.
At 20:00 UTC on September 9, registration for the Cypherium crowd sale will commence. The sale itself will occur on September 14 via the TokenSoft platform. KYC is required to participate in the public crowd sale.
Cypherium Token Precedes Mainnet Launch
Cypherium has opted to release tokens in tranches to presale and public sale contributors. For instance, 20% of the 300 million CPH allocated to the public sale will be released upon deployment of the CypherBFT main net launch. Thereafter, the remaining tokens will be issued over the next six months.
Hopes are high that Cypherium’s dual-structure blockchain, which combines Bitcoin’s PoW with the HotStuff algorithm favored by Facebook’s Libra, will usher in a new era of enterprise blockchain adoption. Having worked with Google and Fortune 500 company Randstad to develop blockchain applications, Cypherium has the credentials to onboard big names to its new blockchain.
While many of the features that are native to CypherBFT will be familiar – smart contracts; decentralized identity layer; permissionless consensus – others are unique. For one thing, Cypherium’s chain has been engineered with the goal of routing CBDCs in the future. While the spec for CypherBFT sounds impressive, Cypherium has stated that its focus is on creating “real killer apps.” This is a tough feat, but it’s one that Cypherium seems confident it can pull off with the support of its partners – which include the likes of IBM, Chainlink, and IBM.
Cypherium Shares Token Sale Details
300 million CPH tokens will be made available in the public sale taking place on September 14. This is notably lower than the initially proposed threshold of 400 million. The public sale will be split into two phases, with 200 million tokens initially made available for 0.25 USDT each. The remainder will be sold at 0.28 USDT each, and any leftover tokens will be assigned to the Cypherium ecosystem fund.
Cypherium is betting on businesses and governments taking to blockchain en masse, be it to trial UBI, launch CBDCs, or simply experiment with pilot projects for things like energy credit trading and social causes. To facilitate this, it’s ensured that the Cypherium Virtual Machine runs Java. This will enable developers at major enterprises to easily create dApps, without the need to master a programming language such as Solidity.
If the future of global payments lies on-chain, Cypherium looks well-positioned to capture a slice of the action.
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