OriginTrail is releasing an update

The next iteration cycle of OriginTrail ends on May 21 as it launches Surveyor Release v0.8a featuring bidding and consensus check
24 April 2018   781

OriginTrail is going to release an update of its OriginTrail Decentralized Network, or ODN on May 21. It bears the codename "Surveyor Release v0.8a" and introduces 2 key elements:

  • initial version of consensus check with privacy layer
  • second installment of the bidding mechanism

First implementation of the bidding mechanism was introduced in Kosmos Release v0.6a (disregards the node reputation scores). It serves to nodes being able to form agreements and bid on providing services to each other in the network. The mechanism is based on Ethereum smart contract. Supposedly, this update will move several operations off-chain to the ODN network layer and improve token utilization.

Regarding the consensus check, this will be the first version to utilize it. This check represents the validation mechanism for interactions between supply chain parties used in OriginTrail protocol. Privacy sublayer of the protocol will form the foundation for the consensus check functionality. At the moment of publication, OriginTrail market characteristics are as follows

  • Average price: $0.209265
  • Market cap: $53,259,534
  • Volume (24H): $533,493

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.