Categories: Altcoins

Ethereum-based popular Altcoin is coming out of the market! Price fell hard

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Source; Wikimedia

Horizon State, the Ethereum-based voting platform, is suddenly closing down, and the platform’s local token, Decision Token (HST), fell by 56%.

Ethereum-based altcoin suddenly shutters
The Australian-based company said in a Facebook broadcast that it was forced to close its doors because of a lawsuit it could not afford to fight the court:

I didn’t return to the company; I joined their new advisory board. Of course, it makes little sense to form a team of advisors, only to shutter the company days later, so I can only assume this outcome was abrupt and genuinely unexpected by Andy and Nimo.

— Jamie Skella (@JamieSkella) August 19, 2019

This is one of the hardest decisions we have to make in our lives, but we have no choice to deal with it even more. We would like to thank our wonderful community, which has been traveling and support us for the past two years. Without you, we would never have reached the milestones that made Horizon State a technology pioneer and put Australia and New Zealand on the map as the goal of Blockchain innovation.

Why is the cryptocurrency project pulling out of the market?
The company did not disclose any details about the legal proceedings. Horizon State was established in 2017 to allow governments and organizations to implement fair, transparent and verifiable voting procedures based on Blockchain technology. It was announced that the South Australian government would hold an official election using Horizon State technology. Co-founder Jamie Skella recently announced that he would return as a consultant to the company, but these plans were shelved after a sudden shutdown.

Ethereum-based altcoin suddenly shutters
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