SONM is rolling out crypto-IaaS platform

It's been 5 months since MVP was released and SONM is now preparing to launch a testnet version on May 30
23 May 2018   492

After a lot of work and refinement of the platform, SONM is launching a new version of its system on May 30. A test network will be active for a month to collect all the necessary feedback, make improvements and then launch the system on a production livenet on June 30.

The complete version will provide IaaS and allow running Docker containers. The live version is dubbed 'Crypto-IaaS' as it provides the nourishing environment for crypto-projects and cryptocurrency payments. Generally speaking, any task could be handled by the system, but due to a significant GPU pool in SONM structure the focus is crypto projects.

SONM IaaS platform provides

  • computational and storage resource (CPU, GPU, HDD, RAM);
  • cost-efficient alternative to cloud services;
  • decentralized computing network;
  • scalability on demand;
  • Docker compatibility

People owning mining equipment, servers and perhaps even data centers are encouraged to join the system with beneficial conditions. At the moment of publication, SONM market parameters are as follows:

Average price 0.233665 USD
Market cap 84,025,934 USD
Volume (24H) 3,182,480 USD

SEC to Slap ICO Founder With $30K Fine

Additionally, David Laurance, founder of Tomahawk Exploration LLC got 2 lifetime bans
15 August 2018   119

The US Securities and Exchange Commission (SEC) on Tuesday reported that it has issued two new bans directed against David Laurence, the founder of Tomahawk Exploration LLC. Tomahawk allegedly stands behind fraudulent ICO, writes CoinDesk.

Laurence, according to the SEC, raised funds through the sale of Tomahawkcoin tokens, in the process of using misleading advertising materials and fraudulent statements that it is a tenant of drilling sites.

Moreover, the sale of Tomahawkcoin tokens, according to the SEC, was accompanied by a false promise that "the holders of tokens will be able to exchange Tomahawkcoin for shares and receive a potential profit from oil production and secondary tokens trading."

According to the SEC, Lawrence neither acknowledged nor denied the charges, but he and his company agreed to these bans, as well as a fine of $ 30,000.

...Tomahawk issued tokens as part of the Bounty Program to generate interest in the ICO, which benefited Tomahawk. Distribution of tokens that are securities in exchange for promotional services to advance the issuer's economic objectives or create a public market for the securities constitute sales for purposes of Section 5 of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
 

SEC

The first prohibition of the SEC is a ban on the director's work in public companies, and the second does not allow Lawrence to own and trade in so-called "penny" shares. Both prohibitions, according to the announcement of the SEC, are lifelong.