Golem to Launch at Ethereum Network

One of the first ICO startups finally launched beta version
10 April 2018   1509

After two years of development, one of the first ICO start-ups, which raised 820,000 ETH in 2016, is launched in the main network Ethereum. This is reported by Trustnodes.

The road to mainnet was a complex and challenging one, more than the Golem team would have expected. After 14 major (and some more minor ones…) software iterations of the Golem Alpha version that supported several OS including MacOS, Windows, and Linux; combined with more than two years of research and development, the Golem team decided to launch the Beta version, called Brass onto the Ethereum Mainnet.
 

Golem Team

Golem Mainnet 
Golem Mainnet

This is a beta version, so it can have some bugs. 

Golem is a dApp, and as any other, it required testing through a contained “laboratory”. But in order to progress, we need to get out of this comfort zone, and make sure the elements that we have worked hard, and continue to build, are responsive and working well on a decentralized setting.
 

Golem's Blog

Thus, the developers launched an experiment, the participants of which can lease the computing power of their computers to anyone who wants to.

The idea behind Golem developers is to create a super-computer that will combine the computing power of users' computers that want to sell them, and subsequently will redistribute these capacities in favor of those who need them.

The first area of application Golem will be the rendering of computer graphic interfaces (CGI). Typically, this task requires significant computing resources, which Golem is ready to provide at significantly lower prices than competitors.

It is also worth noting that this event had a great impact onto Golem price - it rose for 23% in 24h.

Golem Price ChartsGolem Price Charts

At the moment of press, these are main market parameters of GNT:

  • Average Price: $0,245395
  • 24h Vol: $45 280 900
  • Market Cap: $204 723 723

CEO AriseBank Admitted to Fraud

Now Jared Rice faces up to 120 years in prison, however, confession may reduce this period to 20 years
22 March 2019   151

AriseBank CEO Jared Rice confessed to deceiving investors for $ 4.2 million in cryptocurrency. The plea agreement filed in the federal court of Dallas, Dallas News кузщкеы.

According to the document, Rice promised investors a "guaranteed return" of up to 20% of the invested funds, as well as opening bank accounts insured by the Federal Deposit Insurance Corporation and Visa-related debit and credit cards, although he did not have agreements with these companies.

The $ 4.2 million received from the ICO Rice spent on his girlfriend, lawyers, as well as on hotels, food and trips by Uber.

It is noteworthy that Jared Rice’s plea for cryptocurrency fraud was one of the first of its kind in the United States.

Now Rice faces up to 120 years in prison. However, confession may reduce this period to 20 years. Also, the organizer of the scheme will have to pay damages to deceived investors.

The final verdict on the case will be delivered on July 11.

Jared Rice was arrested in November 2018 on charges of fraud with unregistered securities and fraud using electronic means of communication. In December, the US Securities and Exchange Commission (SEC) obliged him and Stanley Ford, co-founder of AriseBank, to pay about $ 2.7 million as part of the settlement of the charges.