BitShares - Bitcoin

About MassGrid

I am sure most people were like "Wtf is this shit" when they first saw the MassGrid partnership was announced. So I am going to try my best to create a tunnel between these East and West information silos for you guys.
First, most people probably managed to find the one and only English article on MLGBI (Massive Linked Grid Based Infrastructure) that is about to be re-branded into MassGrid and launched with a LoMo partnership.
As the article mentioned, MGLBI was very famous in China for its meme name at the beginning. What made this story extra interesting is that it turned out to be a very legit project and backed by a well-known Chinese angel investor Charles Xue (who has his own wiki page)
Essentially MassGrid is a currency that uses the PoW algorithm to provide computational power to "meaningful" tasks such as AI, data mining, etc. Similar to Golem but MassGrid is its own blockchain.
The other massive backers include Li Xiaolai, one of the biggest and earliest BTC miner from China, reportedly owning over 100k BTC at one point. He is now a well-known angel investor.
Frank Lee is also a core member of MassGrid. Frank Lee was a big miner for LTC and at one point was responsible for over 50% of all LTC mining power in the entire world. Frank Lee was the one who announced the new name MassGrid to the Chinese community.
MassGrid coin has reportedly been trading in peer to peer market @ 50x of ICO already in the Chinese community. ICO price was 0.2 RMB (0.03USD)
Finally, CEO of LoMoStar, Fei Xiong is also a backer in the MassGrid project. As some of you might know already, Li Xiaoli is a close associate with FeiXiong and Frank Lee as they co-founded a mining company before.
It is only logical for miners to be backing a project like this. Their core competency is generating computational power after all. Why not put it to a more "meaningful" use case?
What this means for LoMo? My opinion is that this will obviously bring a lot of attention to the LoMo community in China. In my opinion we have barely seen the tip of the ice-berg of how influential FeiXiong is in the Chinese blockchain community.
So yeah, go participate in the airdrop, these tokens might actually worth a lot in the future.
Source:
https://mp.weixin.qq.com/s/4eXpYI1rO6rdwFmHi560ZQ
submitted by neo5eva to lomostar [link] [comments]

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