Lightchain promises millisecond transaction time for Bitcoin

Lightchain technology promises to shorten transaction times and help with blockchain performance issues
17 January 2018   127

Right now Bitcoin blockchain is congested with slow transactions and the fees are rising by hour. So, the Lightchain technology comes to the rescue. This double-layer blockchain aims to resolve this issues by implementing one master chain together with several sub-chains. The prime chain, like Bitcoin, will provide transparency and the overall control, while sub-chains resolve the transactions and synchronize the results on regular basis to the master chain. The developers promise the speeds up to 100 000 transactions per second with maintaining the current tamper-proof qualities of the blockchain.

This effect is achieved by implementation of “Proof of Machine” concept and using an in-memory database cache on the sub-chains. The in-memory cache reduces the time needed to fetch frequently used data, thus increasing total operating speed. The whitepaper goes on to explain, that there will be only one prime-chain, or mother chain, to provide decentralized distributed network that is immutable and transparent to public, while the number of sub-chains can be extended when necessary to increase performance.

This concept is one among many others promising to solve the existing Bitcoin blockchain problems. SegWit, Lightning Network, Schnorr signatures all devise their own way around the issues, and now Lightchain comes forward to expand the amount of possible solutions.

SEC Suspends Trading in 3 Companies

On Friday The U.S. Securities and Exchange Commission temporarily suspended the trading of three companies as they made the purchase of cryptocurrency and blockchain-related assets
17 February 2018   103

According to the announcement, the trade of  Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. will be suspended between 9:30 a.m. EST Friday and March 2. The notice was dated Feb. 15.

SEC stated that its trading suspension orders state that recent press releases issued by CHIT, PDXP, and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.

The release also indicates additional reasons for the suspensions. The agency’s orders also say there are questions regarding the nature of the company's business operations. In case of CHIT, the Commission suspended trading in the securities because of its delinquency in filing annual and quarterly reports.

In August 2017, the SEC  issued a warning for investors about the companies that may publicly announce ICO or coin-related events to affect the price of the company’s common stock.

Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. 

U.S. Securities and Exchange Commission