$8 Million Ploughed Into DAO Within Hours; ‘Cryptocurrency’ Not ‘Crypto’ Pleads AP

In today's cryptocurrency news: $8 million locked into dxDAO just hours into launch; Tezos realizes a major milestone; and the Associated Press pleads for 'cryptocurrency' over 'crypto'.

The cryptocurrency markets have regained upward momentum over the past 24 hours. At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $8,726.7 (+2.5%) and $283.9 (+7.8%). As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 4,384.5 (+2.7%).

Top cryptocurrencies' performance in the last 24 hours

$8 Million Ploughed Into dxDAO Within Hours

Not yet 24 hours after its mainnet launch, the dxDAO – a decentralized autonomous organization (DAO) for community governance of software protocols – has locked $3 million worth of ether (ETH) and $5 million worth of various ERC-20 tokens into its smart contracts.

The first thirty days of the dxDAO’s existence – called the Vote Staking Period – is a period wherein participants are able to earn so-called Reputation, which represent voting power within the DAO. According to its drafted whitepaper, “the dxDAO is built on DAOstack’s framework and Reputation is the intrinsic DAOstack voting power signifier.

Tezos Triumph: First-Ever On-Chain Blockchain Upgrade Succeeds

After three months of voting and testing, Tezos (XTZ) completed its first-ever on-chain governance procedure. An upgrade proposal called Athens A garnered the most support from so-called bakers. It went live on the Tezos mainnet at block height 458,752.

Tezos is a multi-purpose blockchain which aims to combine a self-amending protocol and on-chain governance process to manage future changes and implementations to the network. Given its unique focus, Tezos’ successful implementation of Athens A will represent a landmark accomplishment moving forward.

‘Cryptocurrency’ Not ‘Crypto’, Rules Associated Press

Associated Press’ AP Stylebook – a handbook used globally by writers from various fields – issued guidance on the correct use of the term cryptocurrency, notably suggesting that writers ought to “avoid using the shorthand crypto, which can be confused with cryptography.”

For many, the addition by Associated Press – which adds new terms to its Stylebook each year – serves as further proof that the crypto cryptocurrency space is gaining mindshare among the wider population.