Veritaseum (VERI)
Veritaseum is a project that lacks any obvious direction. It has been described as a peer-to-peer system, yet there is no p2p product available, and some of the people involved in the project allegedly claim that their target market is large accounts and institutions. This project doesn't make sense to us, and we can't figure out the utility of the tokens.
Mining/Staking
We have no information about the consensus algorithms for this project. However, it appears that only under two million tokens were actually sold while another 100 million were reserved for the creator of the project.
Development Team
We have almost no information about the development team for this coin, because it appears to consist of only three individuals, one of which is an avatar. Reggie Middleton (from ZeroHedge) is apparently associated with this project, and this causes concern for a lot of researchers.
Criticisms, Caveats, and Competitors
Check out the Reddit thread linked below to see some typical criticisms of this project. It appears that a number of red flags are present.
Additional Resources
The project's main website: http://veritas.veritaseum.com
Link to Wikipedia Page: N/A
Link to Reddit Commentary: https://www.reddit.com/r/ethtrader/comments/6o1ys1/veritaseum_wtf
Link to Twitter account: https://twitter.com/ReggieMiddleton
Link to Team information: http://veritas.veritaseum.com/index.php/the-team
Link to data on Live Coin Watch: https://www.livecoinwatch.com/coins/VERI
Whitepaper: N/A