BitTorrent File System Details to be Available

BitTorrent File System is similar to similar to the IPFS protocol, but with such improvements as blockchain intergration and 100M user base
31 May 2019   626

The launch of the previously announced decentralized P2P file storage system based on the BitTorrent token (BTT) will be held in the third quarter of this year.

BitTorrent File System (BTFS) will allow users to directly share files and use the resources of other network participants to store them, similar to the IPFS protocol, but with some improvements, including the blockchain integration itself, a user base of 100 million people and support by various development groups.

Additionally, Justin Sun, CEO Bittorrent and TRON founder, directly compared BTFS and IPFS.

The BTFS infrastructure will consist of 100 million BitTorrent user nodes, thousands of full TRON nodes, 27 super representative nodes and global TronGrid nodes.

Testing platform began in late May. After the official launch, a number of decentralized applications (dApps) will start to work based on BTFS.

Disclosure of new details about the upcoming launch of the platform did not help to avoid the BitTorrent token correction in the market, which followed after Bitcoin reached the $ 9000 mark.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   1850

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.