Zilliqa to Launch Mainnet Smart Contract

Zilliqa has conducted a successful tokensale back in January 2018, reaching the $22M hardcap
11 June 2019   1041

The developers of the blockchain project Zilliqa announced the launch of smart contracts based on the Scilla language in their core network.

In 2017, we envisioned creating the first ever- public blockchain based on sharding - one offering superior security, user-convenience and a high performance platform. Guess what Today, we've delivered on this. We are thrilled to declare smart contracts officially launched!!!

Amrit Kumar

President and CSO, Zilliqa

Zilliqa smart contracts are subject to formal verification and are equipped with a set of static analyzers that help identify potential errors and bugs.

In addition, the Scilla language allows you to handle various operational components, such as computing and communication with other contracts, in a “clean way”, eliminating complex interlaces. According to the developers, this will help prevent such incidents like hacking DAO and Parity.

To solve the scalability problem, Zilliqa uses sharding technology. In 2017, the developers said they would bypass Ethereum 1,000 times the transaction processing speed.

At the end of January, the official launch of the main Zilliqa network took place. At the same time, representatives of the project announced plans to launch an exchange for the trade in tokenized shares of Uber, Airbnb and SpaceX.

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   182

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.