Telegram Sues Startup over Cryptocurrency Naming Rights

Telegram has filed a trademark suit against a Florida company that also intends to create a cryptocurrency named “gram”
16 May 2018   830

Encrypted messaging company Telegram filed the suit on May 11 in the San Francisco branch of the US District Court for the Northern District of California, alleging that Lantah LLC violated Telegram’s service mark rights when it filed a trademark application for “gram” in February. 

The Pavel Durov-led firm raised $1.7 billion from a group of less than 200 accredited investors to fund the development of the future Telegram Open Network (TON), which native cryptocurrency will be called GRAM.

In February Lantah LLC filed a trademark registration for “gram,” stating that it intended to develop a “virtual currency for use by members of an online community via a global computer network.” That application was filed after Telegram had begun raising funds for its network.

Telegram claims that it has acquired “common law trademark rights” to GRAM since it has already conducted a “widely reported on and highly successful offering of Purchase Agreements” using the term. The firm further alleges that Lantah is operating in bad faith and seeks to profit from brand confusion.

Lantah was publicly using the Gram name before we were even aware of Telegram’s decision to market one of their products with the same name.  This was backed up by the availability of the trademark. We are now having the matter reviewed by counsel.

 

Daniel Jeffrey

Founder, Lantah LLC

Jeffrey also said that contrary to Telegram’s claim, Lantah was using the “gram” trademark before it was even aware that Telegram had decided to market a product under the same name.

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   55

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.
 

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.