Breakout Coin, the gaming industry payment coin, has raised around 650 BTC (more than $400,000 according to current exchange rate) to date in its public crowdsale.

The crowdsale, which began June 13 and runs until July 7, offered a 25 percent bonus for buyers in its first hour, followed by a 15 percent bonus for the entire first week, helping to skyrocket early coin sales. Until 11:00 am PDT on Monday, June 27, buyers will receive a 10 percent bonus BRK, followed by 5 percent bonus BRK for the third week of the crowdsale.

“We’re delighted by the community’s response acknowledging the bright future for a secure blockchain token for online gaming,” said Breakout Coin Co-Founder Paul Kim. “We’re eager to continue building momentum throughout the duration of the crowdsale.”

The Breakout Coin sale is being hosted by leading cryptocurrency exchange Bittrex. Over 6.6 million Breakout Coins were initially offered, which along with a prior sale and tokens for incentivizing players and gaming sites, will bring the total number of BRK to ever be in existence to 19,500,000, according to Kim.

“The Breakout Crowdfund has raised 650.51 BTC and distributed 765.47 shares worth approximately 4500.00 BRK each”, the BRK crowdfund page on Bittrex reads (at press time).

Permissive Smart Contracts

Breakout Chain developers have also begun work on a new type of smart contract called a “permissive smart contract” that promises to mirror the workings of traditional contracts more closely. Permissive smart contracts do not execute transactions themselves, but instead act to mediate the transactions performed by users of Breakout Chain. Permissive smart contracts seek to address potential weaknesses of other types of smart contracts like the one in The DAO that caused a loss of nearly $60 million worth of Ether.

“Permissive smart contracts are very similar to legal contracts in that both specify what people can and can’t do in a fiducial relationship,” said Breakout Chain lead developer James Stroud. “The inability for legal contracts to execute transactions has never hampered their usefulness because execution is left to the parties of the contract. The same will be true for permissive smart contracts.”

More details about permissive smart contracts can be found in this white paper.