Highlights and News:
Blockstack Announces SEC Filing for $50M Regulated Token Offering
We filed an offering statement with the Securities and Exchange Commission (SEC) to conduct a $50 million token offering using the SEC Regulation A+ framework. Upon approval, the offering is expected to be the first SEC-qualified token offering of its kind. The net proceeds of the offering will be used to accelerate the development of the Blockstack decentralized computing network and app ecosystem. See this Wired article, Cheddar interview, Laura Shin’s podcast, and Off the Chain podcast.
Q1 saw overall app growth accelerate, from 46 at the beginning of the quarter to a total of 86 by the end, 63 of which successfully took part in the App Mining program. Some of the most notable apps created during Q2 include BitPatron, a decentralized alternative to Patreon, Forms.ID, an elegant alternative to Google Forms, and Lander, a personal home page for the decentralized internet.
Dave Morin joins as advisor, expanded leadership team
Dave Morin, former Co-Founder & CEO of Path and founder of Slow Ventures, joined us as an advisor. Dave was involved with the early days of Facebook where he co-created the Facebook Platform and Facebook Connect. We welcomed Brittany Laughlin (Lattice Ventures) as our Investor Relations Partner and Dr. Diwaker Gupta as our Head of Engineering, amongst others (details here).
Over 45 Blockstack events (meetups, hackathons, conferences, virtual workshops) took place in Q1 2019. Highlights included Blockstack’s Hong Kong event on January 10th, and Muneeb Ali’s keynote at East Chain Open Hub in Kuwait. We met close to 3,000 developers at events this quarter. We’re starting our Asia tour and will be at Consensus, Token Summit and CogX, among others.
App Mining Program
App Mining program is maturing as we’ve been running the pilot for several months now. This App Mining Github repo has details on policies, reviewers, and process. We added three new reviewers: TryMyUI joined as an App Reviewer to rate based on app UX, we added a ‘Digital Rights’ App Reviewer to rate on decentralization properties of apps, and Awario was introduced as the 5th independent App Reviewer to help App Miners understand their market and grow their brand and user base.
Platform Reliability Improvements
Blockstack.js 18.3.0 was released and alleviated most protocol handling issues, making Blockstack much more seamless across different browsers. Additionally, the Blockstack QA Process was significantly upgraded. Read about all the product updates that were made this quarter to support Blockstack developer success.
Q1 saw the introduction of Radiks, an indexer that allows developers to easily implement complex, collaborative social features and various types of notifications in-app. See Radiks in action by trying the Banter demo application, developers can learn more about Radiks here and if you missed the virtual workshop, download it here.
Work on v2 of the Stacks blockchain continued this quarter. SIPs (Stacks Improvement Proposals) describing Proof-of-Burn Leader Election and the Smart Contracting Language were published. Work on the implementing of proof-of-burn mining and the new VM for the smart contracting language is ongoing, and can be tracked via the develop branch of blockstack-core.
Gaia Hub Location Choice
From our interviews in Oct and Nov, the most requested platform upgrade was allowing users to setup and select their own Gaia hub. Updates on our progress is here: User choice of Gaia hub now available during on-boarding and Gaia AMIs for EC2 and Gaia documentation
In Q2, we will be working on our recently announced regulated token offering, releasing our findings regarding a token economics study that we’ve undertaken, publishing v2 of the Blockstack Whitepaper, supporting more than 50 hackathons, growing our global community, and ramping up efforts to help developers acquire more users.
Thanks for your support and feel free to reach out!