Komodo to Develop Atomic Swaps with New Partnerships

Komodo has announced its partnership with Populous platform and ValueNet Capital, a venture capital fund based in Beijing
27 March 2018   788

Komodo is a platform which is expanding into the blockchain network powered by Atomic Swap Technology. We should remind our readers that atomic swap is a feature in cryptocurrencies, that allows for the exchange of one cryptocurrency for another without the need for a trusted third party.

We have already shared some news regarding the implementation of atomic swap technology, for instance it was successfully used with Komodo and Bitcoin Cash in December 2017. And on March 26, 2018 the team at Populous have announced its partnership with Komodo decentralised platform. 

populous and komodo cooperationPopulous and Komodo Cooperation

As Ben Fairbank, the General Manager at Komodo stated, the platform believes that partnership with Populous will enhance their offerings with the introduction of Atomic swaps. This should be a nice example of the flexibility of the technology to work across platforms. The atomic swaps technology will enable participants to contribute in Populous’ gold liquidity pool.

What is more, on March 27, 2018 Komodo Platform has announced a strategic partnership agreement with ValueNet Capital, a venture capital fund based in Beijing. The cooperation will reportedly focus on decentralized initial coin offerings.

Valuenet capital and komodoKomodo and ValueNet Capital Cooperation

As it was stated on the official website of Komodo platform, the partnership agreement between Komodo Platform and ValueNet Capital is live from March 23, 2018 and is effective until both parties decide to terminate the agreement.

While ValueNet will provide risk assessment and strategic consulting, Komodo Platform will apply its technical expertise to ensure all dICOs are launched securely and successfully.
 

Komodo Platform Announcement

Moreover, on our website you can read about the Supernet migration from NXT over to Komodo Assets Chain.

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   236

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.