Bittrex Exchange Announces IEO VeriBlockExchange …
Bittrex Exchange Announces IEO VeriBlock
Cryptocurrency exchange Bittrex, after a failed attempt to hold the first IEO on its platform this Tuesday, announced the initial exchange offer of the VeriBlock project, which starts on April 2 at 19:00 Moscow time..
During the campaign, the minimum purchase limit for one account will be 100 VBK or about $ 10, the maximum – 200,000 VBK or $ 20,000. The bitcoin rate that will be used for investment will be set 24 hours before the start of sales.
The initial offer of VBK coins is 283,000,000. Of these, 70,000,000 VBK or 24.7% will be offered for sale through Bittrex International. The distribution of tokens in favor of investors will take place on April 5. Then the campaign will end if the maximum limit of $ 7 million is not reached earlier..
Previously, community members called VeriBlock the main contender for conducting IEO using the Bittrex infrastructure, not least due to the fact that the CEO of the exchange Bill Shikhara is a consultant to the project. “Thus, Bittrex has a minority share position in the company affiliated with the IEO sponsor VBK, which is why the successful IEO is indirectly a favorable outcome for the exchange,” the announcement says..
According to the description on the VeriBlock website, the project aims to create “decentralized, trustless and transparent technologies to secure and scale the blockchain ecosystem.”.
As reported by Bitcoin Magazine, the VeriBlock mainnet was launched yesterday after testing the technology for a year. The VeriBlock model allows the protection of the bitcoin blockchain against 51% attacks by third-party blockchains, connecting them with the blockchain of the first cryptocurrency, which in turn increases confidence in less secure networks among exchanges, wallet providers, merchants and other ecosystem participants. The bitcoin blockchain in this case is used to store information about the state of third-party blockchains in transactions. Subsequently, these blockchain snapshots can be used to determine the actual chain in the event of a 51% attack.
Previously, it was assumed that the first IEO on the Bittrex platform would be conducted by the RAID project, but the campaign was canceled due to the breakdown of an agreement with a key partner at the last moment.
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