Bytecoin to release High Load Resistant feature

Bytecoin released an updated roadmap and revealed the High Load Resistant feature to be rolled out on July 23
01 July 2018   364

With an updated version of the project development, Bytecoin announced the High Load Resistant release scheduled for July 23. The improvement follows the release of a new stable API. It will be an integral guard mechanism, a payment queue, that is capable of maintaining high load instances on the network. With that said, the transactions that are moved from the pools in the process do not get lost. Another feature is an improved wallet cache that will aid the blockchain scanning performance.

Bytecoin is a private, decentralized cryptocurrency with open source code that allows everyone to take part in the Bytecoin network development. The project's mission is to develop a new financial system, more efficient than the existing ones, i.e. providing all the same functions at less cost for the users. Price-wise, Bytecoin (BCN) indicators at the moment of publication are as follows:

Average price 0.003005 USD
Market cap 552,627,674 USD
Volume (24H) 17,234,000 USD

SEC to Slap ICO Founder With $30K Fine

Additionally, David Laurance, founder of Tomahawk Exploration LLC got 2 lifetime bans
15 August 2018   118

The US Securities and Exchange Commission (SEC) on Tuesday reported that it has issued two new bans directed against David Laurence, the founder of Tomahawk Exploration LLC. Tomahawk allegedly stands behind fraudulent ICO, writes CoinDesk.

Laurence, according to the SEC, raised funds through the sale of Tomahawkcoin tokens, in the process of using misleading advertising materials and fraudulent statements that it is a tenant of drilling sites.

Moreover, the sale of Tomahawkcoin tokens, according to the SEC, was accompanied by a false promise that "the holders of tokens will be able to exchange Tomahawkcoin for shares and receive a potential profit from oil production and secondary tokens trading."

According to the SEC, Lawrence neither acknowledged nor denied the charges, but he and his company agreed to these bans, as well as a fine of $ 30,000.

...Tomahawk issued tokens as part of the Bounty Program to generate interest in the ICO, which benefited Tomahawk. Distribution of tokens that are securities in exchange for promotional services to advance the issuer's economic objectives or create a public market for the securities constitute sales for purposes of Section 5 of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
 

SEC

The first prohibition of the SEC is a ban on the director's work in public companies, and the second does not allow Lawrence to own and trade in so-called "penny" shares. Both prohibitions, according to the announcement of the SEC, are lifelong.