RATE Group | Sirin Labs Drops IOTA For FINNEY Blockchain Smartphone, Looks To Ethereum
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Sirin Labs Drops IOTA For FINNEY Blockchain Smartphone, Looks To Ethereum

02 Aug Sirin Labs Drops IOTA For FINNEY Blockchain Smartphone, Looks To Ethereum

Posted at 22:04h in Ethereum News by

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New information has come to light regarding the FINNEY “independent blockchain network” and Sirin Labs’ quest for a permanent blockchain solution.

In an earlier article, ETHNews reported that FINNEY was cooperating with IOTA to create a Sirin Labs native blockchain.

But Moshe Hogeg, CEO of Sirin Labs, recently told ETHNews:

“We’re not with iota, we looked into it and decided to go a different route.”

Nimrod May, the Sirin Labs chief marketing officer, clarified this statement, saying, “At launch, we will be using the Ethereum blockchain.” However, it seems that the company will be using a private Ethereum blockchain rather than the main chain. He said that, at least in the beginning, “the FINNEY will process transactions through a series of complete nodes hosted at Sirin Labs.”

Sirin Labs will not call Ethereum home forever, though. As May put it, “Our plan since the release of our white paper, has always been to migrate the SRN token and Sirin Labs ecosystem to a next-generation…

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