Wayniloans leaves SegWit2x NYA Bitcoin agreement

Another company withdraws its support for SegWit2x leaving NYA Bitcoin agreement 
20 September 2017   1057

Segregated Witness is the process by which the block size limit on a blockchain is increased by removing signature data from Bitcoin transactions. When certain parts of a transaction are removed, this frees up space or capacity to add more transactions to the chain. 

Now, SegWit has locked-in and the Segwit2x working group has announced its roadmap for the next several months. The team of developers have detailed they are going forward with the 2MB block size increase that miners and businesses agreed upon at the New York Agreement.

However, another company withdraws its support for SegWit2x leaving NYA Bitcoin agreement. Thus, Bitcoin peer-to-peer lending platform Wayniloans made the announcement indicating a change in their minds. Wayniloans co-founder Juan Salviolo claims that, when they signed the NYA, they did not realize how contentious the scaling proposal would be. Specifically, they cited concerns that Core developers universally oppose it and that it is unpopular in Latin America.

On Wayniloans part or our business is achieved thanks to Bitcoin, and on May we agreed to a sentence to reach consensus for the good of the ecosystem….At the time we didn’t know that existing developers wouldn’t support it, or that most Latin American Bitcoin users, our customers, would view it as an contentious proposal. <...> Also, without mandatory replay protection (not opt-in) on SegWit2x, we wouldn’t be able to operate the crypto part of our business without risk of missing funds or legal actions.

Juan Salviolo
Wayniloans co-founder

Wayniloans criticizes NYA proponents for not implementing mandatory, opt-out replay protection, which would prevent attackers from broadcasting transactions on both blockchains and stealing coins from unwitting victims.

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   197

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.