Nasa to Use ETH Blockchain For Deep Space Exploration

Project funded by NASA is looking to use the ETH blockchain’s smart contracts technology to automate spacecraft maneuvering while avoiding space debris
17 April 2018   745

A research project called "A sample of fault-tolerant network interaction and computation" is headed by  Dr. Jin Wei Kocsis, assistant professor, specializing in the field of computer technology. This is reported by CCN.

Kocsis received a three-year grant of $ 330,000. She intends to use it to develop a cognitive architecture that will allow the aircraft to travel in outer space without relying on critical data from Earth scientists.

Instead, smart contracts based on Ethereum will help them "think on their own" in the process of detecting and evading debris that could cause serious damage to the device in the event of a collision.

In this project, the Ethereum blockchain technology will be exploited to develop a decentralized, secure, and cognitive networking and computing infrastructure for deep space exploration. The blockchain consensus protocols will be further explored to improve the resilience of the infrastructure.

Dr. Jin Wei Kocsis

Assistant professor of electrical and computer engineering, University of Akron 

Kocsis believes that the decentralized infrastructure will, among other things, help automate the collection of data, which in turn will free up human resources, currently conducting complex calculations during flights, and throw them into data analysis.

I hope to develop technology that can recognize environmental threats and avoid them, as well as complete a number of tasks automatically.

Dr. Jin Wei Kocsis

Assistant professor of electrical and computer engineering, University of Akron 

Whether the project will use a public or private version of Ethereum blockchain is unknown.

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   410

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.