Eric Cohen joined the Auditchain team

It will become the head of XBRL architecture for the New York-based firm
28 November 2017   1242

Auditchain attracted one of the co-founders of the universally used business reporting standard to their team. Blockchain startup Auditorain is developing an accounting environment centered around blockchain-based tokens. AUDT will be used as a service payment service.

Leveraging [blockchain]/DLT technologies to provide a fantastic new foundation, enabled by layers of abstraction, can enable new payment channels, and securely hook in resources of all sorts.

 

Eric Cohen

Cohen is the co-founder of XBRL. He also working for professional services firm PwC. The Cohen's involvement traces back to an event at Rutgers University that focused on continuous auditing. Cohen has also been involved in the development of standards around the world, including the ongoing effort spearheaded by the International Organization for Standardization (ISO).

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   97

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.