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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

Litecoin Price Analysis: LTC/USD Set for Another Potential Explosive Move North as Bulls Penetrate Pennant Pattern

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  • Litecoin price on Saturday is seen holding decent gains of over 3% at the time of writing, as the bulls continue their latest push north.
  • Fundamental prospects surrounding the Litecoin Foundation remain strong and supportive of the price recovery.

LTC/USD since last week has been on a decent push to the north; the price has gained well over 40% since 7th February. A breakout kicked-started the previous week after the bulls managed to escape a narrowing daily range-block. LTC/USD was contained within the tightening structure from 11th January right up to 7th February, which then saw an explosive move shortly after. In terms of the range, this was seen at a high of $35 down to a low $29.

Between 10-11th February, Litecoin managed to see its highest levels since 14th November, which demonstrated its recovery. Price action over the last few sessions has been somewhat consolidating while maintaining the new heights. As a result, LTC/USD has formed a bullish pennant structure following the long pole from 8th February gains. Given the current formation, the price does appear to be subject to further upside movements.

Adoption Progress – Litecoin

Earlier this week, Spend App announced iit would begin supporting Litecoin. The Spend App currently facilitates users to buy, sell and pay with Litecoin in more than 40 million locations, a massive step towards mainstream adoption. According to Spend’s official website, card transactions can be performed in 180 countries.

The company tweeted, “Litecoin is now available on the SpendApp. You can buy, sell and pay with Litecoin with your linked bank account. Spend LTC at 40+ million locations with the Spend Wallet by instantly converting to fiat with the Spend Visa Card!”

Pricing in Litecoin’s ‘Halving’

In August of this year, Litecoin is expected to see it’s second ‘Halving’. In a PoW, or proof of work blockchain, halving results in the miner’s reward being cut in half. Although the halving causes miners’ reward to be reduced, they tend to Bboost the price of an asset over the longer-term.

The inventor of bitcoin, Satoshi Nakamoto, introduced the halving feature to protect against inflation. Besides, he wanted to ensure that not all of the blocks were mined so soon. Similarly to bitcoin, Litecoin has a cycle of “halving”. What will happen is at predetermined blocks, Litecoin’s mining reward will reduce. It will be Litecoin’s second halving, as the first one occurred back on 25th August 2015. At the time miners rewards went down from 50 LTC to 25 LTC, this time round miners reward will be 12.5 LTC.

Technical Review – LTC/USD

LTC/USD daily chart.

As detailed earlier, LTC/USD is subject to an extended move higher should the market bulls breakout of the pennant pattern. The upper part of the structure can be seen tracking around $44.00; this must be broken down to see a more significant wave of buying pressure. Looking to the north, the next realistic target for the bulls will likely be the psychological $50.00 mark. The price has not been up at these heights since 14th November 2018.

In terms of support, it is observed at the lower acting trend line of the pennant structure, $41.50. If this fails to hold a complete reversal of the latest run of gains may be seen. LTC/USD would then likely be forced to return down to the low $30 region.

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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4.6 stars on average, based on 123 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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NEO Price Analysis: NEO/USD Bulls Eyeing an Explosive Move Higher as Cryptocurrency Enters Western Markets

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  • NEO/USD bulls are penetrating overhead resistance of a triangular pattern formation.
  • NEO Global Development (NGD) has set up an office in Seattle, Washington, keen to break into the Western markets.

NEO/USD: Recent Price Behaviour

The NEO price over the past week has managed to see some upside momentum, having gained around 25% since 7th February. At the time of writing, NEO/USD is running towards another session in the green, which would make it nine in the last ten. This is the best run of gains observed since the crypto market uptrend of December 2018.

In terms of the latest push to the north, NEO/USD bounced off a critical near-term supporting ascending trend line, which makes up a triangular pattern structure. It began the formation of this back in mid-December 2018 when the bulls entered a decent path of upside. However, the bulls eventually ran out of steam and were forced to narrow and trade within the confinements of the mentioned pattern.

NEO Looking to Make Ground in Western Markets

The team at NEO is taking serious steps towards expansion into U.S. markets, following its latest announcement to open an office in Seattle. This is the site of the new NEO Global Development (NGD) office. NGD will begin immediately recruiting for the new set up, which is going to be headed up by ex-Microsoft executive John deVadoss.

NEO is hosting its 2019 DevCon in Seattle, Washington between 16th February through to 17th. There is much anticipation around the announcing and details of NEO 3.0. As it currently stands, no clear specifications about the upgrade have been disclosed. Previously, NEO co-founder Erik Zhang said:

“NEO 3.0 will be an entirely new version of the NEO platform built for large scale enterprise use cases. It will provide a higher TPS and stability, expanded APIs for smart contracts, optimised economic and pricing models, and much more. Most importantly, we will entirely redesign NEO’s core modules.”

More on DevCon: NEO Price Update: Bulls Take Control as Anticipation for DevCon Builds.

Technical Review – NEO/USD

NEO/USD daily chart.

The NEO/USD price continues to trade within the earlier described triangular structure, demonstrating signs of late for a possible breakout higher. The markets bulls have been testing the upper acting trend line of the pattern; given the recent penetration, one would suggest a subsequent breach is likely. The resistance is currently tracking at $8.60; a break and daily closure above could invite another wave of buying pressure.

Further to the north, eyes would be on a retest of the significant psychological area of $10.00. The price last peaked up at these heights on 9th January, before running into sellers and being forced back south. At the time this was the highest NEO/USD had reached since 20th November. A push above this will then call into action $13.00, where the price consolidated briefly during the heavy November selling. Lastly, a return to the pre-November fall levels near $20.00 would be the next likely target.

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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4.6 stars on average, based on 123 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

Crypto Update: Another Spike Fails in Crypto-Land

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The major cryptocurrencies continue to follow the pattern which consists of sudden spikes followed by choppy sideways periods. Today, the top coins jumped higher, with the strongest currencies testing their recent swing highs, but the move quickly failed. The market continues to be dominated by low liquidity and the bearish long-term forces, making it difficult to make money trading the long side.

That said, the short-term break-outs, which were formed one week ago, remain intact and our trend model is also on short-term buy signals in the case of the relatively stronger coins. Despite the buy signals, traders should remain cautious with new positions, as the long-term forces continue to work against bulls here.

The leadership of last week’s move continues to be weak and without a new batch of coins hitting new short-term highs, it’s hard to see what could propel the market higher. The top 3 coins haven’t been able to pull their weight either, so odds clearly favor the continuation of the bear market from a broader perspective.

BTC/USD, 4-Hour Chart Analysis

Bitcoin remains stuck below the $3600 level despite today’s spike, and the bearish drift that started last week in the coin continues. BTC’s relative weakness is a negative sign for the whole segment, and although it’s still above the support/resistance zone just north of $3450, the long-term setup continues to point of the $3250 and $300o support levels.

That said, the short-term buy signal is still in place in our trend model, and traders could open small, speculative positions in BTC, with strong resistance zones being ahead near $3850 and between $4000 and $4050.

XRP/USDT, 4-Hour Chart Analysis

Ripple has also been showing relative weakness in recent days, and today it dipped back below the key $0.30 support/resistance level following the failed rally attempt. While the coin once again avoided a move towards the next main level of interest at $0.28, it is still likely to violate that level and test the August low near $0.26.

With that in mind, traders should stay away from XRP, with our trend also being on short- and long-term trend signals, and barring a move above $0.32, the immediate outlook is also negative, with further resistance levels ahead near $0.3550 and $0.3750.

Litecoin Tests $44 Level Again as Ethereum Clings to $120

LTC/USD, 4-Hour Chart Analysis

After settling down near the $41 price level, last week’s star LTC spiked as high as $44 today, but it failed to break-out above the key resistance zone. While the break-out remains intact and the MACD indicator still only points to a correction, the market-wide trends remain negative, and the previously leading coin hasn’t shown signs of relative strength in the last couple of days.

Traders could still hold their positions here even though a swing low is not yet confirmed, but strict rsik management rules should still be applied. A move back below $38 would trigger a downgrade in our trend model, which is still on a short-term buy signal. Above the initial resistance at $44, further levels are ahead near the recent swing high near $46 and at $51, while support below $38 is found near $34.50 and between $30 and $30.50.

ETH/USD, 4-Hour Chart Analysis

Ethereum has been trading in a narrow range today and the recent short-term swing high capped the rally attempt in the second largest coin. While the coin is still holding on to most of its gains from last week, trading well above the $112 level, the lack of bullish follow-through is a negative sign even regarding the short-term outlook.

The hostile long-term setup raises the odds of a failed short-term rally, and although pour trend model remains on a short-term buy signal, traders should only consider small, speculative positions here. The $120 level continues to be at the center of attention, with another strong resistance above that being found near $130, while further support is found in the $95-$100 zone.

Featured image from Shutterstock

Disclaimer:  The analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins.

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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4.7 stars on average, based on 465 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




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