Reddit Moves to Blockchain Points; Canaan Mining Loses Millions; 19,000 BCH on CashFusion

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Reddit is developing a blockchain points platform. Block.one set to use its resources to vote in EOS governance processes. Binance CEO praises Brave browser’s privacy. Canaan files losses for $148 million during 2019. CashFusion reaches 19,900 BCH fused in less than a year, and Gemini adds support for three new cryptocurrencies.

Reddit Presents Blockchain Points Platform

Reddit, the blogging and digital board platform, is reportedly developing a new blockchain points platform for rewarding users. These blockchain points would be used to recognize the value of the contributions of certain users and will allow holders to buy special memberships in order to use emojis and offer polls. The points would be stored as ERC-20 tokens on the Ethereum blockchain, bearing a resemblance to the Donut initiative launched last year by the Ethrader subreddit to monetize Karma points.

Block.one to Involve in EOS Governance

Block.one, the company that started the EOS ICO, is planning to use its resources to start influencing governance choices relating to the EOS blockchain. Block.one will leverage its humongous token stash to “begin highlighting and voting for many of these candidates (block producers), potentially even in rotation, to showcase these organizations’ achievements, values, and network contributions,” according to a statement. This will impact the decentralization of governance processes that had already been criticized for collusion and buying votes.

Binance CEO Praises Brave Privacy

Changpeng Zhao, Binance co-founder and CEO, praised the Brave browser for its privacy policies and invited his followers to install and use it. Zhao declared in a Tweet that Brave was a great way of protecting everyone’s privacy. Brave claims to be making great strides for user privacy, going to the extremes of filing a formal GDPR complaint against Google along with letting Brave users control the ads they want to see while being paid in proprietary tokens (BAT).

Canaan Creative Files Losses for $148 Million in 2019

Canaan Creative, the first publicly traded mining company, filed a loss of $148.6 million last year, according to documents provided to the SEC. The company, considered the second largest cryptocurrency mining equipment manufacturer behind Bitmain, has been struggling since its IPO that managed to raise only $90 million last year. The company eventually earned just $204.3 million in revenue compared to $384 million in 2018. Canaan also lowered its expectations for Q1 2020, estimating $8.5 million in revenue due to the coronavirus outbreak.

CashFusion Reaches 19,900 BCH Fused Milestone

CashFusion, the privacy oriented Bitcoin Cash protocol, reached a milestone, having fused more than 19,000 BCH since November 2019 during its Alpha testing stage. CashFusion, an evolution of the earlier privacy tool CashShuffle, also recently raised its fundraising goal for a audit. Those wishing to give it a spin can download a special build of Electron Wallet and activate the CashFusion option.

Gemini Adds Support For ChainLink, Dai and Orchid

Gemini, the regulated US cryptocurrency exchange, will add support for three new cryptocurrencies on its platform. Dai, the Ethereum based stablecoin, ChainLink, the oracle cryptocurrency, and Orchid, the VPN token, will be listed on Gemini by April 24th. With these cryptocurrencies, Gemini will have trading support for 9 cryptocurrencies, and custody support for 15 more. Gemini recently announced being the custodian of the first publicly traded bitcoin Canadian fund, and added support for BAT, Brave’s browser token.

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