During the last several months, the BitShares share price has dropped, making the network unable to support the core development team via delegate pay. Thanks to their commitment to the vision of BitShares, most core developers were able to stay with the project by selling their personal BitShares and delegate pay in order to support themselves and–for some–their families. As a result, a number of core developers have nearly exhausted their BitShares savings. This is not a desirable or fair scenario, but a solution has been found.
Under the business name Cryptonomex Inc., the core development team has created a new open source blockchain toolkit called Graphene. Why should the BitShares community care? For these very important reasons:
The core development team is willing to launch BitShares 2.0 using an unrestricted and royalty-free version of the latest Graphene toolkit, if stakeholders vote to accept the upgrade.
The 2015-06-01 version of the Graphene toolkit will be released under the CC0 1.0 Universal license so that BitShares has the option to benefit from most of its new technology without restrictions, even if stakeholders choose not to work with Cryptonomex.
Any open-source project other than BitShares that is looking to use the toolkit will only receive permission if it meets certain criteria. For example, one criterion may be the percentage the project will sharedrop onto current BitShares holders. Another criterion may be whether or not the project competes in the same market segment as BitShares. Cryptonomex is committed to the long-term success of BitShares and each case will be considered separately on its own merits.
The Graphene toolkit has many uses in private and closed-source organizations. In exchange for licensing fees paid to Cryptonomex, organizations can use the Graphene toolkit for their closed-source or closed-ledger projects. Although no guarantees can be made as to future revenue streams from these private projects, it is possible that in the future this income can sustain Cryptonomex in maintaining and advancing the Graphene toolkit, and reduce or possibly even eliminate its current dependence on dilution of the BitShares network.