THELOGICALINDIAN - Renren the aboriginal bearing of Chinese amusing media has appear its plan to alpha an ICO activity alleged RR Coin In acknowledgment to the account its shares acicular 1357
Also Read: From Mansions to Prisons: Bitcoin and Real-Estate Doesn’t Mix So Well
From Renren to RR Coin
Launched in December 2005, Renren has been dubbed “The Facebook of China” with its Facebook-like appearance and its acceptance amid acceptance in the aboriginal years. It represents one of the best important and acknowledged “real-name registration” SNS companies in China.
Over the years Renren has apparent acceleration of new players such as microblog platform Sina Weibo and Tencent’s adaptable app Wechat. Unlike the two blooming products, Renren is accident absorption in ambrosial to the new masses of Chinese Netizens. The alone band-aid is connected artefact innovation. And the amusing aggregation absitively to about-face its cardinal absorption to the blockchain industry.
According to the whitepaper appear by Renren, they will advance a blockchain-based accessible antecedent belvedere that can almanac user interactions and trading behavior. And the badge RR Coin will be acclimated in assorted scenarios from advantageous users who accord agreeable to charging for advertising.
RR Bread has 1 billion bill in total, amid which 40% will be acclimated for ICO sale, 25% for the RR Bread Foundation, 15% will be accustomed to the aggregation for business and development and the actual 20% for business expansion. “The activity is activity to accession 100,000 ETH,” said a Beijing-based ICO investor. “I anticipate it’s awful overvalued. RR Bread is added like QQ bread of Tencent that is absolutely centralized. They are aloof affairs a new abstraction to accomplish users alive again.” But it seems that new concepts work. Renren’s banal (NYSE: RENN) acicular about 19% in acknowledgment to the news.
Companies Continue Rebirth in Blockchain
In aloof a few months, China’s top dot-com companies are all authoritative blockchain a able new band-aid beyond their businesses.
The fifteen-year old Xunlei Networking Techinologies（NASDAQ: XNET）started a new account that is absolutely afar from its fundamentals. The aggregation launched “Wanke bread mining” cryptocurrency activity on October 12th, and its banal went from beneath than $5 per allotment to about $25 per share, and connected to attestant a 475% accretion in beneath than two months.
Qihoo 360, a arch antivirus software provider afresh went all-in with its futures affairs for the cryptocurrency and blockchain industry. On December 20th, the aggregation launched a blockchain analysis centermost to analyze how the technology can be acclimated to advance banking services. The President of 360 Finance noted: “The analysis centermost will actualize a approach of ‘Blockchain Plus Finance’ that integrates broadcast balance with acute contracts, agee encryption and accord mechanisms.”
Then on December
r 29th, it launched a cast new website covering cryptocurrency account and amount analysis. The website consists of a alive cryptocurrency amount chart, account trading aggregate and amount change over the accomplished 24 hours, which resembles that of coinmarketcap. At the basal of the web page, it addendum that the website absorb belongs to 360 Internet Security Center. However the website has been inaccessible back January 2nd.
Do you anticipate these top Internet giants will affectation a blackmail to small-sized blockchain startups? Leave your comments below.
Images via Shutterstock, RenRen.com
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