New EEA Architecture Stack to help Blockchain Accepting

The Enterprise Ethereum Alliance (EEA) declared about a new Enterprise Ethereum Architecture Stack that will standardize Ethereum enterprise solutions
04 May 2018   665

The key aim of the decision is assisting organizations in developing Ethereum-based solutions. According to EEA, the new stack will help in streamlining the process of creating enterprise blockchain solutions by “eliminating the need to build in-house enterprise-friendly implementations or engage third-party developers to create private-permissioned Enterprise Ethereum applications”.

EEA is a company with the high-profile members such as Accenture, BP, Credit Suisse, and Microsoft. It is also a non-profit institution. Fortune 500 firms, academics, developers, startups and technology vendors have entered the consortium of EEA in March 2017, to develop open-source standards for the sphere. 

Ron Resnick, EEA Executive Director, confirmed the key objects of the initiative out in the official press release. As claimed in his report, EEA works on delivering a world-class standards-based specification for Enterprise Ethereum solutions. This will also be proceeded by a TestNet and certification program. The standards-based way of  organization will make able the enterprises to deliver great and improved customer experience and create innovative solutions.

The new architecture stack by EEA is made of 5 tiers. The base of the stack is a peer-to-peer protocol layer that is followed by a core of blockchain layer on top. This layer directs transactions, consensus, and on & off chain data storage. The middle layer is combined of privacy and scaling elements. The fourth layer is focused on oracle interactions, wallets and key management. The final application layer is geared toward dApps and smart contract tools. 

The experts believe it will substantially power the blockchain technology adoption in the enterprise space.

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.