Bodhi Kicks Off Multi-Blockchain Expansion With Ethereum This Week

Bodhi, a decentralized crypto prediction market, begins its expansion to additional blockchains starting this week, when it will begin to support the Ethereum platform.

On June 1, participating exchanges will credit all holders of BOT, the original Qtum blockchain-based Bodhi token, with the same amount of a new token, BOE, which stands for “Bodhi On Ethereum.” BOE will be listed for trading at a future date after all BOE distributions are completed, Bodhi said in a news release.

“This will open the prediction market to many more users, which will facilitate more accurate predictions,” Xiahong Lin, founder and CEO of Bodhi and a former Twitter engineer, said in the release. Bodhi was founded in May of last year.

Ethereum users must use the BOE token to access the Bodhi platform, and the new token will not raise any additional funds. The future tokens will be issued as a free airdrop to BOT holders at a 1:1 ratio and have the same total supply – 100 million — as BOT. The new BOE token is based on the Ethereum ERC20 token model standard, making it compatible with many projects within Ethereum.

In a post at Medium on Friday, Bodhi said BOT will remain the primary token in the Bodhi ecosystem as the marketplace expands to multiple blockchain platforms.

“Where we must issue a new token, we will continue to issue them for free to holders of BOT in the same manner as we are implementing with the Bodhi-On-Ethereum (BOE) token release, the post said.

For its expansion, Bodhi will stick with blockchains that already run a mainnet, support smart contracts and have a healthy user base and ecosystem, the press release said.

EOS, Tron Migrating Away From Ethereum
Tron (TRX) and EOS (EOS) tokens could see some price action this week as developers of both take key steps on their migrations away from the Ethereum blockchain.

Tron will launch its mainnet on Thursday. The digital coin’s founder, Justin Sun, said in a post at Medium earlier this month that the mainnet had achieved, in tests, transactions per second hundreds of times faster than Ethereum’s with “improved overall stability.”

“Since Tron is Java-based and provides a developer-friendly environment, the industry will be able to break away from Ethereum and its low-efficiency, congestion-prone network, high fees and steep learning curve,” Sun said in the post.

Globalcoinreport.com called the Tron mainnet debut “one of the year’s main events in the cryptocurrency community,” and anticipates a rally in the coins as they launch on a new, autonomous blockchain to create decentralized applications.

Meanwhile, EOS launches its mainnet on Saturday. A number of exchanges have announced support for EOS’s token swap, according to AMBCrypto.

Captainaltcoin.com anticipates a major correction in EOS on the launch.

Digital Currency Main Theme of FinTech Conference Latam

A diverse group of speakers from top tech firms will discuss digital currencies at the FinTech Conference Latam in Lima, Peru, on Wednesday and Thursday.

Digital currency is the conference’s main theme. Mobile payments and wallets, alternative lending and finance, and open platforms are among topics on the agenda.

Among the speakers are Malika Cantor, global lead for Google’s Launchpad AI Studio; Joaquin Valle, partner at Boston Consulting Group; and Carlos Bittrich of IBM Peru and Bolivia.

Notes From Last Week

Investors, legal experts and blockchain startups convened in Los Angeles on Thursday at the Blockchain Law Summit. The conference looked “to connect leading blockchain legal experts with most promising blockchain startups.” Read more here.

Also last week was CryptoCon at the San Diego Convention Center. Speakers included Nick Spanos, founder of cryptocurrency trading floor Bitcoin Center NYC and co-founder of Zap.org, and Timothy Enneking, managing director at Crypto Asset Management. Read more here.

Meanwhile, Ubex, which describes itself as a global decentralized advertising exchange, launched a token sale last Monday. The Zug, Switzerland-based project is led by CEO Artem Chestov. Ubex said its goal is to “create a global advertising ecosystem with a high level of mutual trust and maximum efficiency.Read more here.

Michelle Rama-Poccia
Michelle Rama-Poccia has written financial news since 2001, covering everything from Latin American debt capital markets to the U.S. credit crisis. She began her career on the enterprise desk at Dow Jones Newswires, and was an editor and producer for Thomson Reuters before her stint as Fast Money, Strategy Session and Options Action producer at CNBC. Most recently, Michelle has worked as a contributing editor for TheStreet.com.