Unresolved questions from meetup in Ireland


#1

Our æmbassador Owen organized a meetup in Cork, Ireland on August, 29th and these were the main questions from his audience:

Is there a better explanation of the Cuckoo cycle?

Will people be able to accept it as form of payment like ETH or BTC/When will they able to trial run it?

He was mainly stuck on the STO question: Will æ support STOs?


#2

Let me address all of those :slight_smile:

  1. Better explanation as opposed to what? We did a Q&A session with John tromp a while ago. It is a great resource of information on Cuckoo Cycle. Have look here.

  2. Any cryptocurrency can be accepted as a form of payment. It is a matter of willingness to incorporate it in your business/service. It is more or less just like fiat money - why would you accept USD as opposed to EUR or BGN or GBP? Anyone has an unique reply to that question and based on that - they use a specific currency. It is also a matter of “reach”. How many people have a certain currency, what can they use it for and does it make sense to spend it (as opposed to hodl it). When it comes to crypto, I think the best approach to payments is to use the payment solution that supports the largest amount of cryptocurrencies. Crypto-payment providing services at this point are limited in this respect.

  3. æternity will support the creation of tokens via smart-contracts. It is also planned to support “native tokens” or tokens, which perform the functions of the primary cryptocoin of the network. Nonetheless, that does not affect the “nature” of the token. Being an utility or security token is determined by regulation. It is a matter of legal interpretation. If a blockchain platform supports the creation of tokens, it supports the creation of both utility and security tokens (or any other type of token that regulators come up in the future).

I hope that helps! If you have more questions - shoot :slight_smile:

Regards,
Vlad