The cryptocurrency exchange Bittrex after a failed attempt to hold the first IEO on its platform on Tuesday announced the start of the exchange offer VeriBlock project, which starts on 2 April at 19:00 GMT.

During the campaign, the minimum limit for the purchase for one account will be 100 VBK or about $10, maximum – VBK 200 000 or $20 000. Course regarding bitcoin to be used for investment, will be installed 24 hours prior to the start of sales.

The initial range of coins VBK is 283 000 000. Of these, 70 000 000 VBK or 24.7% will be sold via Bittrex International. The distribution of tokens in favor of investors will be implemented on 5 April. Then run the campaign, if the maximum limit of $7 million will not be reached before.

Informed community members called VeriBlock the main contender for conducting the IEO with infrastructure Bittrex, not least due to the fact that exchange CEO bill Shihara is the project consultant.

“So Bittrex has a minority equity position in an affiliate from the sponsor of IEO VBK of the company, which the successful conduct of the IEO indirectly is a favorable outcome for the exchange,” — said in the announcement.

According to the description on the website VeriBlock, the project deals with the creation of a “decentralized, requiring no to provide the trust with third parties and transparent technologies to protect and scale the ecosystem of blockchain”.

As reported by Bitcoin Magazine, yesterday hosted the launch of the core network VeriBlock, after the technology was tested throughout the year. Model VeriBlock be able to use the bitcoin blockchain from attack 51% third-party block chain, connecting them with bloccano the first cryptocurrency, which in turn increases the confidence in the less secure networks among exchanges, suppliers of wallets, merchants and other ecosystem participants. Blockchain bitcoin in this case is used to save information about the state of third-party transactions in the block chain. Subsequently, a similar photograph of the block chain can be used to determine a valid circuit in the event of an attack 51%.

Previously it was assumed that the first platform IEO Bittrex will be conducted by the project’s RAID, however, the campaign was cancelled because of the failure of agreement with key partner at the last moment.

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