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ICO Analysis: Aragon

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Blockchain has been a buzz word amongst the mere mortals of the business world for quite some time, especially in the financial sector. Everyone wants to bet on blockchain, everyone wants to integrate it. For a long time, the prospect of Bitcoin, due to a number of factors, among them regulatory and legal issues, was not very attractive, and some were actively vocal: we’ll take the blockchain but we don’t need the Bitcoin, thanks. They were kicking Bitcoin while it was down, of course, and since it has recovered so swimmingly in price over the past dozen months, the “blockchain but not Bitcoin” crowd have quieted down.

Nevertheless, others have also risen on the same tide. Ethereum is trending near $100 each, and its platform is natively intended to support numerous types of applications. In this article we’ll talk about Aragon, an extremely interesting application/platform meant to bring blockchain to every aspect of business management.

As you can see, Aragon is definitely not going to be “vaporware,” which is always a concern when investing in ICOs. Aragon aims to easily allow any business to integrate the blockchain into their accounting, voting process, fundraising, and later, presumably, more.

Built on the well-established Ethereum platform, Aragon isn’t trying to reinvent the wheel like some of the other enterprise-aimed ICOs we’ve discussed recently. Instead, they’re aiming to fill the ease-of-use gap. While they are most certainly not the only play in this arena of allowing any business to go full blockchain, they are one of the more polished. All of this is very positive, but let’s dig a bit deeper into what they’re about, and then get into the details of the token offering and the likelihood of the investor recovering funds.

Aragon is a dApp [decentralized application] that lets anyone create and manage any kind of organization (companies, open source projects, NGOs, foundations, hedge funds…) on the Ethereum blockchain.

Aragon implements basic features of an organization like a cap table, token transfers, voting, role assignments, fundraising, and accounting. The behavior of an Aragon organization is easily customized by changing the bylaws. In addition, Aragon organizations are extensible through third party modules that interact with the organizations’ contracts.

The paper goes on to discuss the various challenges that the designers and developers sought to overcome, all with a mind toward making it easier for everyday businesspeople to make use of the Ethereum blockchain in their organizations. Among these were a mechanism to resolve subjective contract disputes and a bounty system for the resolution of bugs in the software.

Aragon integrates the Keybase protocol to verify the identity of individuals within the ecosystem. This is a great plus in terms of fraud prevention. They expanded on this part of the platform in a blog post, saying:

Even though the premise of doing anonymous business if you want to seems cool, we know it is idealistic and there will be cases in which people will be socially required to prove their identity before some things can happen.

For example, an investor might require the founders to identify themselves before investing in a company or a payment provider might require to do traditional KYC before providing their service to the company.

Overall, the main purpose of the Whitepaper seems to be to explain the purposes of the various features of Aragon, so if you require more information regarding the innards, read it for yourself.

Who is Behind Aragon

Aragon’s page only lists two principal parties. They do, however, credit a number of individuals in their Whitepaper, including Satoshi Nakamoto and Vitalik Buterin (founder of Ethereum). The first principal party is Luis Cuende, who has been listed on the Forbes 30 under 30 (to watch) list. He previously founded the Stampery project, which is one of many blockchain data verification services out there. He’s contributed to or created over 40 repositories on Github. One of them is interesting and unusual: a JavaScript module that creates visuals to go along with Electronic Dance Music. As a person, he seems genuine, motivated, and interesting. In a recent interview, he said:

The biggest takeaway is that we’re truly just getting started. I remember being in Bitcoin conferences years ago and thinking — oh wow, this is growing fast. Or, oh wow, Bitcoin is too expensive these days. But then you think about how revolutionary the crypto movement is, and you realize that we’re still in its baby stage.

For me, the Ethereum ecosystem has been the most welcoming ecosystem ever. And tons of talented developers are joining everyday.

I still love Bitcoin — I think it’s a very good digital gold — but Ethereum is just the perfect tool to decentralize the world. Things that we couldn’t even dream of with Bitcoin are now possible with Ethereum.

Cuende is the “project lead” for Aragon. This means that his responsibilities are among many different categories. In charge of the technology, however, is Jorge Izquierdo.

Izquierdo has made over 1,800 commits on Github in the past year. This is a lot, by any standard, but doesn’t always mean they’re all of substance. One of his projects is called block.chat. It’s an Ethereum-backed messaging platform.

It is meant to be kind of a transport protocol for messages, also having encryption and timestamping built in.

As you can see, both developers are interested in expanding the Ethereum protocol, and Aragon is one more move in that direction. If all things fall into place for them, and it seems they just might, they could be looking at a very successful future as a leader in blockchain-for-business solutions.

Investment Details

The Aragon ICO will begin on May 17th and will run until June 16th. A complete development roadmap is available. The ICO will only be conducted through the Ethereum platform, and more details about how the actual transactions will take place is available here. You can, of course, acquire Ethereum using Bitcoin if you do not already have any.

Although they are doing a bug bounty to find problems in advance of the ICO launch, they have in place a mechanism to stop and restart the ICO if necessary. This would mean that people would get their funds back and would have to invest again if there were some problem. This adds a measure of relief to anyone overly worried. Another thing that is interesting is that they will not have access to the funds at all until the end of the sale.

Going back to the genuineness of the players involved, it seems that transparency is also very important to them, as it is to most cryptocurrency investors and aficionados.

The Verdict

This project is cool. Very cool. Businesses of the future who are looking to integrate the blockchain into their business models will certainly be considering the Aragon platform, for its ease of use and powerful features. The chances of it competing swimmingly in the arena of blockchain-for-business is very high. It’s easy to see more modules being developed for the platform. A moonshot thought is that someone like UPS or FedEx might integrate their own data into the network in order to help businesses track packages as well as to help themselves keep track of them in an immutable way. One assumes these companies already have proprietary solutions in place, but Aragon could be very attractive to them nevertheless, or a big help to competitors for them in less-developed regions.

Given all of the above, including the Forbes recognition of Cuendes, it’s hard to give this thing a lowball rating. The author feels that this would be money well-invested, and so we’re going with a solid 6.5/10 on Aragon ANT tokens. You can check out the contract for ANT here.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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5 stars on average, based on 2 rated postsP. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link




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3 Comments

3 Comments

  1. SlavDaddy

    May 17, 2017 at 9:18 pm

    Fair warning:
    Had big hopes for this ICO- Lost out due to metamask not being able to process ahead of private ETH nodes. Lesson learnt and will not be trying to use metamask for ICO purchases again. To those who did manage to get some. Nice.

    • P. H. Madore

      May 18, 2017 at 4:30 pm

      Well, like I often say, this could be a good thing. The value could drop sharply right after and recover over a long period, giving you opportunities to buy in at an even better price. Sorry you had that problem, though!

  2. embersburnbrightly

    June 6, 2017 at 11:39 pm

    I just bought a bit of this coin two days ago. Just a small amount. I think I might go ahead and buy a bit more, having now read your review.I see a lot of positive things about the approach being used with this coin, and lots of potential for its uses. I won’t break the bank to invest too heavily; but I will certainly buy some more. Thank you.

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Altcoins

Tron Price Analysis: Fundamentals are Stronger than Ever; TRX Bulls Staging Comeback

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  • Tron network has breached over 100 million transactions, as reported by Justin Sun.
  • Zero transaction fees are anticipated on the Tron ecosystem, by Friday 21st

TRX/USD has remained generally soft since the 29th November. The price has been cooling and ranging since its spike higher at the back end of November. TRX is remaining well supported within a near-term acting demand zone. This has been in action since 20th November, providing necessary comfort, to prevent a free-fall below the 1 cent mark.

Despite this described technical behavior, the fundamentals surrounding the Tron foundation remain very strong indeed, as the founder Justin Sun likes to keep the community up to date with all the latest via his Twitter feed. There seemingly being much promise surrounding Tron’s daily activity and transactions.

Tron Hit 100 Million Transactions

Sun, took to his Twitter account today, to announce that it had recorded 100 million transactions. He said, “TRON has reached 100 million transactions today.” Sun provided a screenshot of the Tron platform, which showed the number of transactions had in fact breached the 100 million mark.

100 million transactions

Over 2 Million Daily Transactions

Previously, he had boasted how the Tron network continues to breach records with its daily transactions, tecently having well and truly smashed through the 2 million mark. One community member, which Justin Sun retweeted, provided a comparison of Tron’s daily transactions, versus its peers: “TRON’s new record of 2,64 million daily transactions in comparison w/ the Top 5; 9.6 times more than Bitcoin’s 275k, 4.6 x Ethereum’s 567k, 4.1 x Ripple’s 633k, 188 x Tether’s 14k, and 264 x Stellar’s 10k.”

Zero Transaction Fees Coming Soon

Elsewhere, Justin Sun had posted something via the Tron community on his Twitter. This detailed, “The transaction fee of TRXMarket has dropped to 0.1% at 07:00(UTC) on Dec 14th! And 0 transaction fee will be realized by next Friday.” Given this, the ecosystem may see zero transaction fees by Friday 21st December.

Technical Review – TRX/USD

TRX/USD daily chart

Looking to the upside, should the bulls maintain this current course of momentum, TRX/USD could be in for decent gain. Firstly, resistance in a prior acting demand zone must be broken down for greater moves north. This can be seen tracking from $0.01600 up to $0.01800. As mentioned, this area had previously been supporting TRX/USD from August right up until November. Given the length of acting demand, it may prove a challenge breaking down.

TRX/BTC daily chart

Lastly, TRX/BTC is heading towards an extremely critical and game-changing zone. An area where the price faltered in August and October. As can be observed via the daily chart view, there appears to be some chunky sellers camped here. As a result, on each occasion, this region sent the price free-falling back down to the south. A clearance above will see a large renewed wave of buying pressure come back into play.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 87 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Altcoins

Litecoin Price Analysis: LTC/USD E­­­njoys Double-Digit Gains as Lightening Network Seen Imminent

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  • Litecoin has run higher by 20% over the past three sessions.
  • The community of Litecoin is very much excited about the upcoming activation of the Litecoin Lightening Network.

The Litecoin price is currently enjoying a bull run, running at its third consecutive session in the green. LTC/USD having gained a whopping 20% to the upside after producing another bottom area around the $22 territory.

Prior to this push higher being observed, LTC/USD had been moving within a tight range, after bottoming on 7th December. It initially appeared to be subject to another extended move to the downside, given the formed range-block.

Litecoin bulls still need to breakout from this mentioned formation. The low as detailed above is seen down at $22. The upper part of the range can be observed up within the $27 territory. To avoid another bear attack near-term, this must be breached.

Litecoin Lightning Network Imminent

Earlier this week, cryptocurrency exchange, CoinGate, did announce via witter that the Litecoin Lightning Network is now ready for its deployment. CoinGate also put itself up for hosting for the activation to take place on their platform. The exchange tweeted: “Litecoin community, we bear some exciting news! Our Litecoin LightningNetwork is ready to be deployed and will soon be live on CoinGate! Keep up with the news as we’re getting closer!”

The Litecoin founder, Charlie Lee, responded: “Even Litecoin will soon have more than 1000 merchants accepting LN payments! Thanks CoinGatecom!” Lee recently spoke about the Lightning Network, where he detailed how it is a second-layer solution for payments that go through Bitcoin and Litecoin.

Technical Review – LTC/USD

LTC/USD daily chart

As touched on earlier, the key for greater upside is to see a break out from the mentioned range-block. The bulls must storm through the $27 territory. However, not long after there is another barrier in the way. LTC/USD, between the 25th November and the 5th December, was in a prior range-block. The bottom for this was seen around $27 up to $29, which was a very short-term demand area. A push above this zone should pave way for a fast return back towards $50.

LTC/BTC Daily Chart Review

LTC/BTC daily chart

In the latest run to the upside for Litecoin, it has moved to its highest levels seen since 1st December. There is a key near-term barrier being eyed around current levels. A descending trend line running from the start of August is observed. The bulls must force a daily close above this resistance to see a further wave of buying pressure.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 87 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Analysis

XRP/USD Price Analysis: Israel’s Largest Financial Services Company GMT Partnering with Ripple

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  • Ripple has another large financial firm leveraging its technology, as the list keeps on growing.
  • XRP/USD will search for buyers within $0.3000-$0.2500 range initially, ahead of possible $0.2000 return.
  • XRP/BTC looks surprisingly encouraging, subject to a potential breakout to the upside.

XRP in line with the rest of its peers across the cryptocurrency market remains firmly on the back foot. XRP/USD is running at its third consecutive session of losses. At the time of writing, the pair has dropped 7% over this mentioned period. A renewed wave of selling pressure hit the market after the price was allowed some time to consolidate. The market was very much within range-bound mode, before the bears struck again. As a result, XRP has firmly given up the $0.3000 mark.

Israel’s GMT to Utilize Ripple Technology

The largest financial services organization in Israel, GMT, has announced a partnership with Ripple. They will be utilizing Ripple’s technology for their cross-boarder payments.

GMT said via their latest blog update: “GMT is joining companies like MoneyGram, AmericanExpress, CIBC, Earthport, AKBANK and many more, who are already authorized to use Ripple’s platform. This partnership is establishing GMT’s place in the forefront of the Israeli Fintech industry, also allowing us to work side by side with some of the leading companies in the world.”

GMT are the largest and leading financial services organization in Israel. They have an outreach of  250 branches spanning across the country. GMT specialize in local and international remittance services, among many other financial offerings.

In terms of which technology of Ripple’s they will exactly be leveraging, it does not appear to have been stated for now. Whether GMT will be using either xCurrent or xRapid is still subject to debate. Hacked will be sure to provide further details upon those being announced.

Technical Review – XRP/USD

XRP/USD 4-hour chart

Price behavior seems to be quite readable of late. XRP/USD is going through periods of hard selling, which is then followed by some range-bound trading. Once again, bears breakout from this consolidation mode to ignite more downside pressure. Between the 7th and 14th December, XRP/USD had formed a range-block. The sellers came piling in on the 14th December, and as a result the recent range was broken with $0.3000 giving way.

XRP/USD weekly chart

XRP/USD is now moving within a critical area. This is seen running from $0.3000 to $0.2500.  A very well-known area for big buyers coming in, as proven on occasions this year. Any failure of this initial range holding could see a free-fall down to $0.2000.

XRP/BTC daily chart

Finally, looking the daily chart of XRP/BTC, it remains somewhat encouraging. XRP is holding its ground again BTC, in comparison to many of its peers. The price is ranging for now, looking possible to see a chunky breakout to the upside. It remains trading around levels seen during the explosive run in December 2017.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 87 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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