Avalanche's co-founder helped build a proof-of-work currency six years before Bitcoin...
Emin Gün Sirer (@el33th4xor) co-designed Karma at Cornell in 2003 with two of his students. His bios call it the first currency to mint coins through proof-of-work, though Wei Dai's 1998 b-money proposal sketched the idea earlier.
Karma aimed to stop freeloading on file-sharing networks by tracking what each user gave and took, long before Bitcoin introduced proof-of-work money.
In 2013, he and Ittay Eyal found a flaw in Bitcoin's mining rules. A group of miners could secretly hold back the blocks they found, then release them at the right moment to wipe out rivals' work. Even a minority of miners could earn more than they should. The attack is now known as "selfish mining".
He later co-founded @AvaLabs, the company behind Avalanche (@avax), and still runs it as CEO.
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🚨HUGE: The NYSE is working to bring $40 TRILLION in US stocks and ETFs ONCHAIN.
The exchange has spent a year testing Avalanche and is building a tokenized securities platform with onchain settlement and stablecoin-based funding.
Tokenized shareholders will keep full dividend and voting rights with instant settlement and fractional shares.
"Avalanche checks a lot of those boxes for us," ICE's Head of Strategic Initiatives said, per The Block.
BREAKING: Largest US Brokerage, Charles Schwab, to add AVAX to Charles Schwab Crypto.
Charles Schwab is home to 40m brokerage accounts, and this marks their platforms first expansion beyond Ethereum & Bitcoin.
BREAKING: Kenya Government brings 30M+ academic credentials on chain with Avalanche
Through @KNECKenya, academic records are now verifiable and forgery-resistant, with Avalanche powering the national verification layer.