Byzantium fork for Metropolis is live

Byzantium fork for Metropolis is now live on Ethereum’s Ropsten testnet
19 September 2017   2932

The date of a launch for the Byzantium testnet, the next critical step towards Metropolis, a major upgrade for Ethereum, has been announced recently.

The day has come

Thus, today marks a significant milestone for Ethereum. The first iteration of Metropolis upgrade is finally being tested on Ethereum’s testing network, as reported by ethnews.com.

According to the report, the Ethereum Ropsten testnet has reached block number 1,700,000. Hence, Geth 1.7 has automatically implemented nine Ethereum Improvement Proposals (EIPs) as well as the Byzantium hard fork.

There are two main upgrade optimizations taking place today:

  • Data storage requirements for fast-synced nodes have been nearly halved, from 26.3GB to 14.9GB.
  • The reduction of filtering time required for contract events being stored and indexed by the EVM from minutes to seconds.

It is believed, that this is the beginning of a new era and a gradual shift away from proof-of-work and toward proof-of-stake. 

Ethereum charts on coinmarketcap.com Ethereum charts on coinmarketcap.com

Meanwhile, Ethereum is doing well and making progress in growing. At the time of writing, the price of the cryptocurrency is about $283, its market capitalization is $26,847,744,466.

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   346

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.