Top March Roadmap Fails of Cryptocurrencies

You were looking forward to the release of a new wallet or to the lauch of your favourite currency on your favourite exchange, but it did not happen? Let's find out why!
17 April 2018   1786

There is a really impressive number of projects related to cryptocurrency, and the crypto exchanges add dozens of coins for trading each day. The cryptocurrecny market is developing fast, and the developers of different projects try to impress and attract the audience by implementing a wide range of new features like web or mobile versions of wallets, roadmap udpates, node releases, technical or commercial whitepapers releases, and many more.

There are many pretty successful projects which gained trust of the community by always fulfilling their promises and ambitions listed in their whitepapers and roadmaps. However, there are some projects which, for different reasons, do not comply with their promises and fail to release features in the planned time. Today we would like to share the information regarding the top March broken promises of cryptocurrency projects. We do not judge any of them, our goal is to let our readers know that some of the features they are so passionately waiting for, may, for some reason, be delayed.

1. FLIK Service Launch

On January 25, FLIK team has published the Progress Report and Product Update on its website, where they wrote that they are looking forward to delivering the product in the near term, estimating a deliver of Q1 of 2018.

However, no product was launched during the first quarter, and we decided to find out why. We browsed through the FLIK website posts, and discovered that the team even posted an apology letter, stating that the delayed launch is attributed only to the licensed content. 

We owe you an apology. We’re late. We set a goal of launching our service during the first quarter of Q1 in 2018, and we have missed our deadline. For that, we sincerly apologize.

FLIK Statement

Well, thank for the apology, we are looking forward to the release of video streaming platform in the nearest future!

2. ICON Token Swap

According to the roadmap of ICON project, it should have implemented the Token Swap during March 2018, but it was postponed. The Token Swap feature in the ICONex wallet is currently ready. However the Token Swap schedule through the exchanges are still being adjusted. The team has reportedlydecided to postpone the Token Swap so that both Token Swap processes can be started at the same time.

ICON 2018 roadmapICON 2018 roadmap

ICON will be announcing the start time of the Token Swap through it Blog, Reddit, Telegram and email as soon as the exchanges are ready to trade mainnet ICX coins. Alright, we can't wait!

3. Sumocoin GUI Wallet Update

On February 3, Sumocoin has written in its Twitter account that it will be upgrading the GUI wallet to include multisig txs and remote node connection. The release was scheduled for "next month latest". Namely, for March.

Sumokoin on TwitterSumokoin on Twitter

However, the third version of the GUI Wallet compatible with Aomori fork was published on GitHub on April 3, and the release of Light wallet was announced to be out within "next few days". Okey, we understand that several days delay may seem not that important, but for the members of crypto community, and especially for investors, the timing is an absolutely crucial feature, which may change everything for them.

4. Luxcore Technical Whitepaper Release

Initially, the release of technical whitepaper was included in Luxcore roadmap for the first quarter of 2018, but we checked the website and other services of the project, and found out that it was not released yet. We contacted the team of Luxcore, and they told us that "technical paper will in all probability be released after Smart Contract introduction".

We had a recent upgrade on the algorithm as well and this needs to be included. 

Luxcore response

Luxcore roadmap fragmentLuxcore roadmap fragment

As we can see from the updated roadmap of Luxcore, technical whitepaper is 50% ready for the release. Well, we are really looking forward to the upcoming release!

5. MinexWallet 2.0 Release

According to the roadmap of Minex Systems, the Minex Wallet 2.0 was scheduled to be released in the first quarter of 2018, but it is April already and there is still no news regarding the wallet release. The Wallet should have such features as an improved interface, a completely new design and a quality UX.

Minex RoadmapMinex Roadmap

In order to find out when we should expect the MinexWallet 2.0 release, we contacted the team of the project, and below you can see their response.

Thank you for your interest to our project. All information we publish at our blog that's why we can't give you any additional information. As soon as we get upgrades we let you know.

Minex response to our email

We certinly checked their blog and that's what we found.

And the next release will be MinexWallet 2.0. Unfortunately, we had to move the deadline for this product from the first quarter due to some technical moments and final bug fixing.

Minex blog post

The blog post containing the information about MinexWallet 2.0 release was published 5 days after we contacted the team, and we are really glad to know that the team is working hard to fulfill their promises and release all the best features for the users. Can't wait for the wallet to released!

6. ICON Mobile Wallet

ICON is certainly an impressive project and we are really excited about it. We were checking their roadmap in order to find out which new features we should be waiting for, and discovered that the Mobile wallet was scheduled to be released in March, 2018 . Unfortunately, it was not. We have asked the team why, and below you can see what they told us.

We are sorry to say that the mobile wallet launch has been delayed for awhile. The ICONex mobile wallet for Android and iOS is under development, but we are greatly sorry to announce that the launch of the ICONex mobile wallet has been delayed. We are currently under the process of adding the Token Swap feature in the mobile wallet. It is difficult to specify the exact date when it will be ready for launch, but we will do our best to speed up the process. Once again, we would like to apologize for the delay and to those who have been waiting for the ICONex mobile wallet.

ICON response

Sounds nice, we believe you! Looking forward to the Mobile Wallet release in the nearest future.

7. Target Coin TGTX Beta Software

In January 2018 Target Coin wrote in their Twitter that beta and free version of TGTX (software) will be launched by end of March, 2018, pointing out that it will be free for one month. However, Target Coin did not publish any info regarding the above mentioned release in March, and we decided to contact them. 

Target Coin on TwitterTarget Coin on Twitter

In about 10 days the project answered us, and here is what they wrote.

We are really sorry about the delay but we assure you the web based software will be out to be used for everyone in less than two weeks.

Team Target Coin

We hope that the project will release the web based software soon and we all we will be able to enjoy using it! 

Well, looking at the roadmap fails we covered in this article, we can say that the teams of different projects put great effort in doing their best to keep up with what they promised, but sometimes they just do not succeed in it due to various reasons. We wish all the projects luck and we will keep bringing all the latest news to our readers!

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   223

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.