SegWit: successful atomic swaps performed

First steps to SegWit ecosystem: SegWit enables coins
26 September 2017   3445

This week was a significant step forward for the SegWit Ecosystem as SegWit enabled coins. Thus, Litecoin has been successfully exchanged through Atomic Swaps with Decred, Vertcoin, and then finally Bitcoin, as reported by cointelegraph.com.

On September 19th 1.337 LTC was swapped for 2.4066 DCR.  Although they ran into difficulty at first, they were able to complete the swap via on-chain transactions through Decred’s repo wallet, as detailed.

Then, on September 20th, the Litecoin creator teamed up with the lead developer of Vertcoin, to perform another Atomic Swap. James was able to port Decred’s code to VTC and this time the two successfully exchanged 1 LTC for 55 VTC. 

Finally, on September 22th Charlie worked with a John S to perform Atomic Swaps between LTC and BTC. The two followed the same processes outlined above and successfully swapped 10 LTC for 0.1137 BTC. 

It is also noteworthy, that the exchanges the Litecoin creator Charlie Lee did with DCR, VTC, and BTC did not utilize SegWit.  However, this technology will be necessary as a fully functioning and scalable Atomic Swap system will require the Lightning Network. 

Litecoin charts on coinmarketcap.com Litecoin charts on coinmarketcap.com

Meanwhile, at the time of writing, Litecoin price is about $51.97, its market capitalization is $2,759,304,948.

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   197

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.