Telegram Open Network Platform to be 70% Done

This became known from the documents published by Button co-founder Mike Dudas
22 November 2018   1306

Pavel Durov's blockchain project Telegram Open Network (TON) is 70% complete. This became known from the documents published in the network, dated the fifth of September. They were announced by Button co-founder Mike Dudas.

They confirm previously published information that the TON Virtual Machine (TVM) smart contract mechanism is “fully implemented and tested.” Its readiness is estimated at 95%.

It is also noted that at the completion stage there is a component for executing transaction requests in the TON network. At the same time, the software for block validation is only 10% ready.

TVM is fully implemented and internalyl tested. Minor modifications are likely to be necessary during the process of binding TVM with TON blockchain generation and validation software.
 

"TON Development Status" document

In 2018, Telegram in the course of two rounds of the closed ICO raised $ 1.7 billion to develop the project.

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   166

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.