Ravencoin is coming to Salt Lake City

First Utah meetup by Ravencoin is set on May 7 to share the details about the project
18 April 2018   1715

Ravencoin is organizing the first Salt Lake City meetup on May 7. The venue is at Overstock Peace Coliseum. Ravencoin core developer Tron Black is going to introduce the project, share the details of it and conduct a Q&A session. Bruce Fenton is also joining the gathering to give a speech on the project's whitepaper and the timeline. This will be a good chance to network with the members of Ravencoin community.

Ravencoin is a digital peer to peer network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. It is built on a fork of the Bitcoin code and focuses on building a useful technology with a strong and growing community. A fork of the bitcoin code, Ravencoin features four key changes:

  • The issuance schedule (block reward of 5,000 RVN)
  • Block time (1 minute)
  • Coin supply (21 Billion)
  • Mining algorithm (X16R)

This algorithm is intended to address the centralization of mining caused by ASIC hardware. At the moment of publication, Ravencoin market parameters are as follows

  • Average price: $0.033011
  • Market cap: $28,703,088
  • Volume (24H): $231,996


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   223

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.