Binance Chain Testnet Launchdate Unveiled

As reported by CEO, Binance Chain is a fork of the Tendermint, in which many things were cut off, including smart contracts
12 February 2019   231

The CEO of Binance announced the date of the upcoming launch of the Binance Chain test network, which is the basis of the Binance DEX decentralized exchange.

Binance Chain is built on the Tendermint protocol from the Cosmos Network project. According to Zhao, the architecture of this protocol is best suited for the tasks of the new site. The blockchain at the heart of Binance DEX will operate on the basis of the delegated share (Delegated Proof of Stake, DPoS) and the Byzantine Consensus (Byzantine Fault Tolerant, BFT).

Also, according to Zhao, Binance Chain is a fork of the Tendermint, in which many things are cut out, including smart contracts. This is done to increase productivity, which is more important for exchange tasks than an abundance of opportunities.

The platform interface will allow projects to release tokens based on Binance Chain and “carry out ICO effectively”, ​​attracting funds in BNB tokens.

Gladius to Register Token as Security & Refund Investors

Startup self-reported in SEC on unregisted securities offering and cooperate with Commission, so it won't be fined
21 February 2019   102

Cryptocurrency startup Gladius Network LLC has informed the US Securities and Exchange Commission (SEC) about the sale of unregistered securities. On February 20, the SEC filed relevant charges.

During the ICO, the Gladius project raised $ 12.7 million in cryptocurrency equivalent for the development of a network for leasing computing facilities to protect against cyber attacks. The SEC stressed that the startup did not register their tokens as securities, as required by federal law, and did not agree to exclude them from the rules in the legal manner.

Moreover, tokensale was held after the publication of the SEC report on the situation with The DAO, in which the regulator stated that ICO can offer securities.

The press release says that Gladius contacted the SEC in the summer of 2018 and expressed interest in cooperating with the investigation. Thus, the agency refused to levy a fine, because the startup voluntarily agreed to return the funds to investors who require it and register the token in accordance with the provisions of the Securities Act of 1934.