Ethereum's Geth 1.7 software update

Ethereum's Geth node software including support for the "Byzantium" upgrade has been released
16 September 2017   2463

A new version of Ethereum's Geth node software has been released. In addition to a series of performance enhancements, the update includes support for "Byzantium".

According to the developers, the update, named Megara, is the first incarnation focusing on laying the groundwork for the upcoming Metropolis hard forks (Byzantium and Constantinople), consisting of 125+ code contributions for various parts of the project.

Byzantium fork

As reported, the release has been reformatted to include all improvements developed for Byzantium, which forms the first of two parts in the wider "Metropolis" update. Megara also includes a formal block number for the launch of Byzantium on Ropsten, the Ethereum testnet. The block number is now officially 1,700,000, which seems to be reached in about seven days.

Performance optimizations

The 1.7 release series of Geth is also aimed to focus primarily on performance improvements. Among the performance enhancements are steps to cut the amount of data storage required by a node from 26.3GB to 14.9GB – making ethereum significantly lighter to run. Updated nodes will also be able to process contracts faster, with filtering times reduced from minutes to under a second.

Trezor wallets

The team has introduced support for the Ledger hardware wallet. Due to popular demand, it has been expanded on hardware wallet support to include the Trezor. The Geth console can be used to unlock the Trezor, which will request the user to enter the shuffled PIN code and send that over to the Trezor for verification.

Transaction journal

According to the team, Geth 1.7.0 journals all locally created transactions to disk and loads them back up on a node restart. This ensures that even if the originating node goes offline, cheap transactions still have a chance to be included when the node comes back. The transaction journal can be an enormous help for node operators during software upgrades by not having to worry about local transactions going missing. Furthermore, the journal also acts as a resiliency mechanism against node crashes, ensuring that no transaction data is lost, as the company details.

Rinkeby updates

As reported, there have been a lot of fine-tuning of Puppeth and Rinkeby over the course of this release, such as better ethstats logging to detect malicious reporters and IP address blacklisting to deny access for them.

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   235

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.