iExec to release the next version of its Cloud solutions platform

The Ethereum Cloud solution for dApps iExec is advancing into v2.0 on May 31 and introduces Cloud Marketplace
28 April 2018   781

iExec, the project that deals with the cloud solution for dApps and provides blockchain-based decentralized cloud computing has announced the release date of it Cloud Marketplace – May 31. iExec v2.0 will feature fully operational marketplace platform network accompanied with the PoCo algorithm that, in its essence, enable the first decentralized cloud.

At iExec we do believe in decentralized economy, and we are proud to build the next Internet that will support your business in this new ecosystem.

 

Gilles Fedak

CEO & founder, iExec

To be more specific, the marketplace will allow the trading of computing resources as commodities. The key point of the upgrade is the ability for computing resources to join iExec network. Up to now, off-chain computations with iExec were performed on the project's own machines and dApp developers had to trust iExec for the correct execution.

In the marketplace users will be able to choose from different worker pools, see their prices and select the most suitable pool for their needs. Among other features there will be Pay-per-Task pricing method and Proof-of-Contribution consensus protocol elaboration. More details on the update can be found here, and the project page can be studied here. At the moment of publication, iExec market parameters are as follows

  • Average price:  $1.57
  • Market cap:       $126,069,863
  • Volume (24H):   $2,254,410

 

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   304

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.