Blockchain Integration: A16z-Backed Cryptocurrency Index Platform Unveils V2

Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Fredrik Vold
Author Categories
About Author

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. Read more
Source: Adobe / Postmodern Studio

Alongside, a cryptocurrency index platform backed by venture capital giant Andreessen Horowitz (a16z), has launched its V2, aiming to take a decentralized approach to crypto investments using blockchain technology.

The startup will allow crypto investors to gain exposure to a basket of the top 15 cryptocurrencies via a single token – AMKT – in a similar way as exchange-traded funds (ETFs) work in the traditional financial market, a report from The Block said.

With its V2 release, Alongside fully migrates the product onto the blockchain, decentralizing key components of its offering.

In traditional finance, ETFs often involve multiple participants handling various aspects of the fund, each charging their own fees.

In contrast, Alongside’s V2 reduces centralization and leverages the blockchain to offer a more cost-effective, decentralized, and globally available index product.

According to The Block’s report, the company believes this release will appeal to crypto investors seeking a more decentralized approach to investing across a range of tokens.

The report added that Alongside’s approach differs from other on-chain crypto funds by decentralizing the custody of assets, keeping it fully on-chain.

In V1, the platform utilized a wrapped asset model with crypto exchange Coinbase as the custodian, but in V2 this has now been fully migrated onto the blockchain.

Decentralizing the fund’s methodology


While Alongside has achieved some decentralization in terms of custody, it’s still reportedly exploring ways to decentralize the methodology of the fund, including the rules that govern the composition of the fund.

Ultimately, this aspect is left to holder governance, executed via a multisig arrangement where Alongside does not have a majority vote.

More Articles

Altcoin News
Kanye West Says He Rejected $2 Million Offer to Promote Alleged Crypto Scam
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-08 09:46:28
Bitcoin News
Florida Senator Proposes State Investment in Bitcoin to Hedge Against Inflation
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-08 09:43:01
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors