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   193

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.

PascalCoin to activate V3 Hard fork

PascalCoin V3 Hard fork will be activated on block 210,000 on May 31 and feature anonymity via transaction mixing and inflation reduction
26 May 2018   39

PascalCoin is preparing for V3 Hard fork scheduled for May 31. It will introduce key improvements as such:

  • anonymity transaction mixing;
  • 50% inflation reduction;
  • Lazarus/FPC gets 10% of funding

To get more into the details:

PascalCoin transactions occur between publicly visible accounts and the crucial aspect needs to be implemented - fungibility. The improvement will allow users to perform 'client-server mixing', 'network-protocol mixing', 'chaining multi-transactions', 'decentralized exchanging' and 'monetized-API mixing'.

As for Lazarus/FPC (a base tooling from which PascalCoin is founded on), a total of 10% of the Developer Rewards is recommended to be allocated for the FOSS project funding. In a long run, a large developer mind-share is expected to reduce costs significantly.

To learn more about the details of the fork, you can visit Improvement Proposal page here. And regarding the market characteristics of PascalCoin, at the moment of publication they are as follows:

Average price 0.765895 USD
Market cap 15,978,408 USD
Volume (24H) 89,861 USD