ICO ICO Analysis: Ethearnal Published 7 months ago on January 31, 2018 By Sam Bourgi The Money Makers Club now has 6 of 15 available seats. Learn more here! There is a profound shift underway in the labor market: many people are disavowing traditional 9-5 employment in favor of the ever-growing ‘gig economy’ – a phrase that describes the bustling world of freelancing and short-term contracts. Although the transition partly reflects the breakdown of stable employment opportunities, it also taps into an even bigger desire for freedom and flexibility. For many, a steady biweekly pay check is worth sacrificing for the flexibility that freelancing offers. It therefore comes as no surprise that freelancers make up the fastest growing segment of the U.S. labor force; combined, the nation’s 57 million freelancers contribute $1.4 trillion annually to the economy. According to at least one study, freelancers are set to become the majority of the U.S. workforce in the next decade. Of course, this trend isn’t limited to the United States, but globally as well, with websites like Upwork, TopTal and Freelancer attracting millions of professionals from around the world. Ethearnal is marketing itself as one of the first peer-to-peer freelancing platforms powered by blockchain and trustless smart contracts. More specifically, it is a reputation management system that allows freelancers to monetize their standing within the network. Through smart contract-based escrow, freelancers and employers can get to work on projects knowing there is a clear and transparent mechanism for distributing payments. This agreement is backed up by a network of moderators that have built-in incentive to resolve any issues between the two parties. Because it operates on the blockchain, Ethearnal attempts to sidestep third-party websites that take hefty fees for connecting freelancers and employers. Token Ethearnal is developing an ERC-20 compliant token called ERT that will connect freelancers with employers via smart contract. The platform that connects these stakeholders will provide many of the bells and whistles offered by current freelance websites, with the added benefits of lower costs, profit-sharing and opportunities for moderators to resolve disputes for a fee. According to the whitepaper, the token sale proposes an hourly cap to give more investors the opportunity to own ERT tokens. In other words, Ethearnal plans to increase the hourly ICO limit in regular intervals until the crowdraise is over. After delays, the public ICO is now scheduled to begin Feb. 28. Team Ethearnal is run by co-founders Stanislav Uzunchev and Vladimir Vladimirov, who have a combined 28 years of experience running online businesses. The team also employs three developers and three additional smart contract auditors. The personnel behind Ethearnal appear more than capable of carrying out the project, although there does appear to be a lack of blockchain experience at the senior management level. Verdict If timing is everything, Ethearnal stands to benefit greatly from the growing shift toward toward the gig economy. The concept of tokenizing reputation will also appeal to freelancers, who are constantly trying to promote their competitive advantage. Where Ethearnal can really add value is by addressing excessive fees that are currently bogging down the freelancing community. Although platforms like Upwork have introduced a sliding fee scale, freelancers who do not qualify for the lowest payment are forking over as much as 20% of their contract’s value. Recently, the platform announced the 20% fee would apply to the first $500 the freelancer bills his or her client. It then drops to 10% for billings between $500 and $10,000 before dropping to 5% on all remaining billings. Risks The author has some concerns about Ethearnal’s business model. Although the whitepaper doesn’t contain much information about the business, it clearly states that the platform does not intend to make money post-ICO. Token holders should expect to receive profits from the platform, but it is not entirely clear what that breakdown looks like. You would think these details would have made the whitepaper. The only tangible information on profits is found in the section that talks about earning money as a moderator. -2 Naturally, Ethearnal has plenty of competition from third-party websites as well as other blockchain projects. There are several freelancing projects underway, including Blocklancer, FreelancerCoin, Coinlancer and Native Currency. -2 The project has an aggressive roadmap with major milestones slated for each quarter through 2019. This could be problematic from an implementation perspective because Ethearnal is giving token holders a say in when the funds are allocated (see the discussion on “ICO 2.0” in the Growth Potential section). From what we can tell, the project has already experienced delays. -1 Growth Potential The freelancing economy is absolutely massive in scale, with more professionals slowly transitioning away from the office. Ethearnal is potentially on the cusp of this exponential growth. And because all freelancing platforms depend on reputation to some degree, the company is marketing itself correctly through the slogan, “tokenized reputation.” +3 As the whitepaper states, the Ethearnal platform is considering a fee of between zero and 1% that “goes back to the system to support proper initiatives.” If it can pull this off, it will easily become one of the most competitive platforms for freelancers. +3 The smart contract system is brilliant for freelancers and employers because it provides secure funding and a pre-defined time limit to deliver the contract. A failure to do so will see the totality of the funds returned to the owner. If any industry can really benefit from added transparency around payment, it’s definitely the gig economy (every freelancer who is reading this has been burned at least once). +3 The platform’s “ICO 2.0” model mirrors Vitalik Buterin’s recently announced DAICO concept, bringing much needed transparency and accountability to the crowdsale. After the token raise, only 10% of the funds will be accessible to the Ethearnal team. The rest will remain locked in escrow until the company can convince token holders it is following through on its promises. This should alleviate concerns about funding allocation post-ICO. +2 Disposition The author has spent many years working as an independent contractor and recruiting freelancers for various gig economy jobs. Naturally, I have a bias in favor of projects that make my job easier and more exciting. Nevertheless, we have tried to be as balanced as possible in this review, and feel that a final score of 6 out of 10 is warranted. Investment Details Token Type: Utility Platform: Ethereum Symbol: ERT Pre-sale: Ongoing Token Sale: Feb. 27 – Mar. 31, 2018 Token Supply: 40 million Tokens Available for Sale: 30 million Hard Cap: 30,000 ETH Price: 1,000 ERT = 1 ETH Payments Accepted: ETH Jurisdictions Barred from Participating: Section K of the Terms of Token Sale list geographical limitations. 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. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (3 votes, average: 4.00 out of 5)You need to be a registered member to rate this. Loading... Sam Bourgi 4.6 stars on average, based on 544 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts. Follow @HackedCom Feedback or Requests? Related Topics:ERTetherealfreelancing economygig economyinitial coin offering Up Next ICO Analysis: Bubbletone Don't Miss ICO Analysis: AdHive You may like ICO Analysis: OceanEX ICO Analysis: DxChain ICO Analysis: SwipeCrypto ICO Analysis : Vault 12 ICO Analysis: MetaHash ICO Analysis: FOAM Protocol 1 Comment 1 Comment Haspel January 31, 2018 at 1:54 pm I wish you guys would do more extensive ICO reviews. How can you write a review and give a rating without saying anything about their competition, on and offchain? You should’ve at least mentioned Coinlancer. I would like to know more about token utility and MVP too. All the recent review posted are of very little use. Not worth my money. Log in to Reply You must be logged in to post a comment Login Leave a Reply Cancel replyYou must be logged in to post a comment. ICO ICO Analysis: BitSong Published 14 hours ago on August 14, 2018 By Joshua Larson The Money Makers Club now has 6 of 15 available seats. Learn more here! The music industry is ever-evolving alongside new technologies. Smart contracts and blockchain are currently changing it again. Over the past year, numerous music blockchain projects have come onto the scene as ambitious entrepreneurs try to get in on the action. BitSong, is an Ethereum based project that wants to put the entire process on one platform. Music creators will stream their songs or videos, manage their fanbase and work out advertising deals all on the BitSong Platform. According to the whitepaper: “The BitSong Platform will be a holistic one -stop shop approach, choice is given to the user, to watch videos, stream music and have the ability to use whichever device they own to partake in Bitsong. This also permits the artist to manage their social media fanbase from one source, their Bitsong channel, thereby retaining their fans on one single decentralized music platform” The platform allows users to do the following; Upload new songs/videos and create your own music channel. Sell your songs, listen to them and get donations. Earn BTSG token during your plays. Support the artist by making a donation through the BTSG token. Listen to your songs on any TV, Smartphone or PC. Sponsor your business or your songs in full autonomy. Perhaps the coolest feature of BitSong will be how they incorporate advertisements into the platform. The user will be paid for their “User Attention,” the producer will receive earnings in real time and the advertiser will be able to optimize the campaign after viewing the reports. Token The BTSG token will be essential for: sponsorship, making a donation, purchasing a song, voting, buying tickets and purchasing merchandising. Use of funds: 50% Business Development and Expansion 15% Technology and Logistics 15% Research and Development 20% Marketing and PR Two percent the tokens were sold at a 40% discount during the pre-sale in late May. Team This is a rather large and spread out team. Lots of different countries involved and most of the team are former DJs/producers. Angelo Recca: Co-Founder/CEO from Italy. LinkedIn says he has been CEO of this cloud storage company SpazioRC since 2012. Spazio has only one employee listed on LinkedIn and the twitter only has 340 followers and hasn’t been active since Novemebr 2017. Rino Ticli: Co-Founder. The only work history listed is “DeeJay” since 2002. He doesn’t seem to be a very popular DJ/producer, either. He’s had Twitter since 2012 yet only has 800 followers that give him zero love or retweets. Julian Anghelin: EMEA Manager. Despite typing a long and vague description of his skills, the only work history he has listed is as a publications guy for Royal Caribbean Cruises for ten months in 2016. Giovanni Melfi: CTO and Blockchain Developer. Out of the 12 team members, he is the only developer. And it looks like he has no work history to brag about. He did describe himself on LinkedIn as follows:” Passionate about cryptocurrencies and blockchain, 2 languages speaker. Coming from an experience in software engineering and a passion for software development with some programming languages such as PHP. I participated in some group work on the robotic system, on linux programming and on StartUp Manager, and I think these experiences are the most important for professional growth.” The website goes on to list 19 international DJs/producers that are supposed to be a part of BitSong. However, after checking all of them, only a couple ever mention BitSong. No mentions of the token sale. The most popular is a guy named Tadeo, who gained almost 300,000 Twitter followers for being on an MTV reality show. He does not mention the BitSong crowdsale on his twitter. Nicola Fasano is a DJ with 16,000 followers on Twitter. Mossel is a DJ with 10,000 followers but doesn’t mention Bitsong ICO Verdict We usually don’t do analysis on projects that already had their pre-sale. However, after seeing these ratings, it seemed like our opinion was needed. These high scores are out of line. The only explanation is that the reviews were done a few months ago, before the bad news bears arrived to spoil everyone’s shill fest. Nobody here expects YouTube, Spotify and record companies to just step aside while smart contract/blockchain projects move in. Said blockchain projects needs to be extra special with an extra special team in order to even stand a chance of competing. Based on team inexperience and lack of MVP alone, this gets an unfavorable rating. Risks The team is not experienced at all in business or blockchain. -1 It doesn’t look like they will come close at all to reaching the hard cap. They have a large team and payroll. It’s going to take a long time for both BitSong and Ethereum to work properly. There’s a strong chance they run out of money by then -1 No MVP, only one blockchain developer listed on their team, plus many other small things that lead us to believe they might not be really trying to build this thing. -1 GitHub is not active at all. This supports the above theory. -1 Competition. The author has reviewed 4 different blockchain music ICOsin the last year. He ranks this one 3/4. -1 Growth Potential Ambitious roadmap on page 15 of the whitepaper. +1 One of these blockchain music projects is going to be popular. BitSong has an outsiders chance. +1 The crowdsale will run for three months, ending in November. Perhaps the market will be bullish by then. +2 They make a really bold claim on their site about having 177,404 users. When asked who these users are, the reply was, “177,404 users interacted with our bot and registered in our wallet.” This is kinda hard to believe, but if true those type numbers will definitely help them scale. +3 “Together with our community (about 180,000 users) we want to create a special environment, a new way to hear, see and enjoy music,where every artist can be his own distributor, sponsoring it on world music channels, where clarity and transparency rule and users can be rewarded for listening and viewing advertising.” Disposition It’s just way too good to be true. The silver lining is that we’ve seen several projects succeed in the past with this same strategy. A brilliant whitepaper idea with no MVP, and an untested team. However, in today’s paranoid market, most investors are now needing evidence of work, not just a whitepaper and a dream. +2/10 Investment Details Symbol: BTSG Platform: Ethereum Total Supply: 1 billion (all unsold tokens burned) Tokens For Sale: 500 million (50%) Presale: Over Crowdsale: August 10 – November 10 Price: 1 ETH = 11,290 BTG Soft cap: 4000 ETH Hard cap: 35000 ETH Website: https://www.bitsong.io/ Twitter: 1253 followers https://twitter.com/BitSongOfficial Telegram: https://t.me/BitSongOfficial GitHub: https://github.com/BitSongOfficial 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. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Joshua Larson 4.1 stars on average, based on 23 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills! Follow @HackedCom Feedback or Requests? Continue Reading ICO ICO Analysis: Hedera Hashgraph Published 4 days ago on August 10, 2018 By Daniel Won The Money Makers Club now has 6 of 15 available seats. Learn more here! Hedera Hashgraph is another project in the blockchain space aiming to take blockchain to the next level: fast and ready to take on widespread usage by the mainstream as well as enterprises. Currently, distributed ledger technology faces a number of challenges: Scalability Security Governance Stability Regulatory Compliance Hedera Hashgraph’s team believes that only when these challenges are addressed and surmounted will mainstream markets trust blockchain enough to adopt it en masse. With regards to the aforementioned challenges, Hedera Hashgraph aims to address them in the following ways: Performance – Hedera is built on the hashgraph distributed consensus algorithm (“hashgraph” also is used to refer to Hedera’s blockchain), invented by Hedera’s CTO and Chief Scientist Dr. Leemon Baird, who worked as a Professor of Computer Science at the US Air Force Academy and has multiple patents and publications in peer-reviewed journals. According to the Hedera Hashgraph whitepaper, the platform can handle hundreds of thousands of transactions per second in just one shard (let alone the entire network). Confirmations also happen in seconds and not minutes, hours, or days. Security – Hedera Hashgraph is secure through asynchronous Byzantine Fault Tolerance (aBFT). While other platforms are susceptible to Distributed Denial of Service (DDoS) attacks, the hashgraph platform isn’t. Moreover, aBFT provides both fair access and fair ordering for transactions on the platform. Appendix 3 of the whitepaper gives a full definition of the hashgraph algorithm and its fairness properties as well as proofs of aBFT. Governance – Hedera’s governance consists of Council Governance (management of council concerns) and Consensus Model (determining transaction consensus order). Council Governance is done by an elected Governing Board that deals with council membership policy, network token regulation, and platform codebase changes. The Governing Board will consist of up to 39 leading organizations in their respective fields, bringing expertise previously lacking in past blockchain platforms. Consensus Model deals with how nodes reach consensus on the platform’s order of transactions. In the Consensus Model, nodes cast one vote for each Hedera token that they own and since many nodes are expected to join the network and be compensated for maintaining the hashgraph ledger, it’s expected that Consensus Model voting privileges will be distributed amongst thousands of nodes. Stability – Hedera Hashgraph’s stability will be ensured with both technical and legal controls. Technical – Hedera Hashgraph has Swirlds technology, which has the effect of protecting users of the platform from unofficial forks of the platform as well as ensuring that only software clients running the latest version are able to modify the hashgraph. Legal – The Hedera Hashgraph codebase will not be open-source but be available for public review so that anyone can read the source code, recompile it, and verify its legitimacy. No licenses will be required to use the platform, write software that uses the platform, or build smart contracts on the platform. Thus, Hedera will provide a transparent codebase open to innovation so that the market can use it for its own purposes. Regulatory Compliance – Hedera has an opt-in escrow identity mechanism that gives users the choice to attach verified identities to their otherwise anonymous cryptocurrency accounts. Therefore, on the one hand, anonymous users can maintain their anonymity, and on the other, users that need to be verified for official purposes can do so without having to worry about regulatory backlash. Token By replacing proof-of-work consensus mechanisms with virtual voting (nodes cast one vote for each Hedera token that they own), high throughput, low fees, and micropayments are all made possible. DApp developers on the network will use Hedera tokens to pay for network services like processing transactions, executing smart contracts, and storing files. As mentioned earlier in the analysis, anyone running a node will earn Hedera tokens for doing so. The amount they earn is proportional to the amount of Hedera tokens they stake in one or more accounts for which they have the private keys. (This stake is also used to weight their votes in the Consensus Model). However, users are still able to spend their stake at any time – though of course spending some of the stake means receiving less rewards for running a node. Users who don’t want to run a node (e.g. not wanting to invest in computing resources and/or the maintenance of them) can “proxy stake” Hedera to someone else’s node. This means that the user with no node gives a node “credit” for their stake and splits ledger maintenance awards with the node that they credit with their stake. (The ratio of the split is negotiated between the two parties). Proxy stake funds are in control of the proxy staker, who can spend the stake at any time, turn off the stake, or even redirect the proxy stake to another node. As mentioned, fees are low, but they do exist. There are node fees, service fees, and transaction fees: Node fees – a platform user can use platform services (e.g. transferring crypto from one account to another) by contacting a node, which submits the user’s transactions. The platform user pays a fee, negotiated between the user and the node, to the node for its service. Service fees – users that use platform services (e.g. storing a file in the hashgraph) without going through a node pay a service fee. Transaction fees – transactions handled by the network incur a fee to cover the associated costs of nodes exchanging data about the transactions, temporarily storing them in memory, and calculating consensus on the events containing them. Token distribution is “expected” (taken from the Hedera Hashgraph crowdsale FAQ – “What is the token distribution?” section) to be as follows. 65% Hedera Council Treasury 17% management and employees 13% SAFT purchasers and developers 5% Swirlds Hedera has already raised $100m in funding from institutional and high net worth investors and is currently conducting an accredited investor crowdsale ($20m target). Accredited investor verification (whitelisting) will stop when $20m in funding is reached or August 15th, whichever comes first. Token price and token release schedule for both first round and accredited investor round are the same: Option A: $0.12 per token. 20% of tokens issued six months after network launch, with the rest vested in 10% installments over 8 months. Option B: $0.096 per token. 20% of tokens issued six months after network launch, with the rest vested in 20% installments over the subsequent 4 years. The majority of founder tokens are vested in 4 to 6 years. If all funding goals are met, the project will start with a $360m market capitalization (based on expected circulating supply on day of token release). Total token supply is fifty billion. The offering is a Simple Agreement for Future Tokens (SAFT) in accordance with SEC regulations and there will be no ICO. Minimum contribution is $1,000, and maximum contribution per person is $250,000. However, investors who want to invest >$250,000 can email email@example.com (?), according to the Hedera Hashgraph crowdsale FAQ, which is confusing. All raised funds will be used to grow the platform (engineering, sales, marketing, developer advocacy, community development, legal, etc). Team Co-Founder, CTO, and Chief Scientist Leemon Baird – Baird invented the hashgraph consensus algorithm, has worked as a Professor of Computer Science at the US Air Force Academy, has a PhD in Computer Science from Carnegie Mellon University, and has many patents and publications in peer-reviewed journals and conferences in the fields of computer security, mathematics, and machine learning. Co-Founder and CEO Mance Harmon – Harmon also has an Air Force background as former Course Director for Cybersecurity. He was also Program Manager of a large-scale software program for the US Department of Defense’s Missile Defense Agency and senior executive for product security of an unnamed $1.7b revenue organization. President Tom Trowbridge – Trowbridge is President of the Hedera Hashgraph Council and has a strong finance background, having started and ran the New York Office of UK-based Odey Asset Management. He also has held positions at Goldman Sachs, Lombard Odier, Atticus Capital, Bear, Stearns & Co., and telecom and media private equity firm Alta Communications, where he was responsible for 10 deals. Verdict Below is a breakdown of the risks and growth potential of Hedera Hashgraph. Risks Very bold claims but no working product (-1) High hard cap and initial valuation but other projects that have done well have had the same (though uncommon) (-0.5) Similar to EOS – bold claims, no working product, lots of hype – except the EOS team probably had a more relevant background (CTO Dan Larimer was behind popular and proven projects like Bitshares and Steemit) (-0.5) Growth Potential A lot of hype (e.g. large Meetup community) (+4) Some DApps have already committed to the platform, and many developers are interested in the platform (e.g. their developer – not general public – Discord channel has nearly 5,000 members as of writing) (+4) Disposition Hedera Hashgraph promises to pack quite the punch similar to projects like EOS. The hype is definitely there, but can the team deliver? Hedera Hashgraph receives a 6/10. Investment Details Type: Native – Utility Symbol: Unspecified Platform: Native Crowdsale: Ongoing Minimum Investment: $1,000 Price: $0.096 or $0.12 Hard Cap: $120m (institutional round and accredited investor round combined) Payments Accepted: BTC and USD (via wire transfer) – can’t mix BTC/USD to pay for one SAFT (but can purchase two SAFTs separately using BTC for one and USD for the other) Restricted from Participating: The SAFT is being offered to accredited investors in 63 countries. (Anyone from a country NOT on the following list is restricted from participating). The countries are: Andorra, Argentina, Australia, Austria, Belgium, Bermuda, Brazil, Virgin Islands (British), Bulgaria, Canada, Cayman Islands, Croatia, Cyprus, Czech Republic, Denmark, El Salvador, Estonia, Finland, France, Germany, Gibraltar, Greece, Guatemala, Honduras, Hong Kong, Iceland, India, Republic of Ireland, Isle of Man, Israel, Italy, Jamaica, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Moldova, Netherlands, New Zealand, Nicaragua, Nigeria, Norway, Panama, Poland, Portugal, Puerto Rico, Romania, Saudi Arabia, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, United Arab Emirates, United Kingdom, United States. For More Information 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. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (1 votes, average: 5.00 out of 5)You need to be a registered member to rate this. Loading... Daniel Won 4.9 stars on average, based on 17 rated posts Follow @HackedCom Feedback or Requests? Continue Reading ICO ICO Analysis: Emotiq Published 6 days ago on August 9, 2018 By Daniel Won The Money Makers Club now has 6 of 15 available seats. Learn more here! Who will become the most scalable blockchain ready for mainstream adoption? Emotiq is yet another contender in the “next-generation blockchain” space that claims powerful scalability and privacy while making smart contracts easier and more accessible. In their own words, they want to be the Apple of blockchain vs. other blockchains, which are more like Android and Windows (don’t shoot the messenger). Emotiq is developing a blockchain interface so friendly and natural that even kids will be able to use it! Quite the claim when you consider that most adults can’t currently use blockchain! Emotiq’s smart contracts are written in Ring, a plain English programming language that’s as easy as reading the news. Not only does Emotiq offer an easy way to read and write smart contracts, but it will also support most Ethereum smart contracts (written in Solidity). Emotiq is aiming at processing 1 million transactions per second, using zero-knowledge proofs for transaction privacy, and scaling through sharding. Secure cryptographic purging of spent transactions will ensure that Emotiq’s blockchain stays small and manageable. Emotiq, like other similar projects, will allow for ICOs and DApps. Also, it will feature a decentralized exchange. In essence, Emotiq wants to be the next Ethereum or Stellar but scalable, private, and accessible. Token There will be 1 billion total Emotiq (EMTQ), which will be distributed as follows. 51.3% token sale 16.7% development 10% marketing and ecosystem 10% reserve 10% team 2% advisors and backers EMTQ is deflationary (max token supply decreases over time). A fixed percentage of yearly transaction fees will be burned. This will be done to increase the value of EMTQ and also to help prevent attacks on the EMTQ network. In terms of its usage, Emotiq’s FAQ page says that EMTQ will be used the same way that ETH is used for Ethereum. In other words, we can expect EMTQ to be used to pay for resource consumption (sending payments, paying for services, creating child tokens/launching ICOs, etc.) on the Emotiq network. There will be no public sale but Emotiq is currently in its third round of private sale (4 rounds total). If you are interested in participating in the private sale, contact firstname.lastname@example.org with information about you / your fund, allocation you are interested in, and how you can help Emotiq grow. Here are the details of private sale rounds and seed round thus far: Seed – 150m EMTQ (15% of max supply), $2m cap, 100% lockup – linear release beginning 3 months after mainnet launch (12.5% per month) Private round 1 – 140m EMTQ (14% of max supply), $9.8m cap, 50% released and 50% lockup – locked up tokens are released linearly starting 1 month after mainnet launch (20% each month) Private round 2 – 60m EMTQ (6% of max supply), $6m cap, 70% released and 30% lockup – locked up tokens are released linearly starting 1 month after mainnet launch (33.3% per month) Private round 3 (ongoing) – 139m EMTQ (13.9% of max supply), $18m cap, 75% released and 25% lockup – locked up tokens are released linearly starting 1 month after mainnet launch (33.3% per month) Private round 4 – 23.5m EMTQ (2.35% of max supply), $3.2m cap, no lockup Private sale inquirers who are deemed qualified will receive further details about past rounds, such as price. Token sale proceeds will be used to do things like expand the Emotiq ecosystem through educational programs, build a top-notch research team, explore different smart contract languages for their ability to accelerate mass adoption, and provide venture funding for Emotiq-based projects. Team Emotiq is led by CEO Joel Reymont, who has 25 years of experience in technology and management. For example, he was Director of Prime Brokerage Technology at Deutsche Bank and CTO of Aeternity, another popular blockchain project. Ann Soederblom, VP of Marketing – Soederblom has worked as a project manager for multinational companies like Citigroup and Holcim (8th largest Swiss company by revenue) and also runs her own marketing agency. Vladimir Lebedev, VP of Engineering – Lebedev has an impressive background, having served as CTO of the Russian stock exchange, executive at VEON (telecoms company with more than 200m subscribers), executive at Mail.Ru group (biggest Russian Internet media company), and executive at Sberbank (biggest Eastern European bank). Verdict Below is a breakdown of the risks and growth potential of Emotiq. Risks Bold claims (1m transactions per second and so on) but no mainnet (launch “expected” end of Q4 2018) or even testnet yet (-0.5) Some tokens released after mainnet launch – what if there are problems with launch? Has happened before (-0.5) Lacking in hype thus far (-0.5) Growth Potential Decently experienced team (+4) Based in “Crypto Valley” (Zug, Switzerland) – favorable regulatory environment and good ecosystem to be a part of (similar to how being a tech company in Silicon Valley means proximity to leading members of the tech community) (+3) Disposition Though Emotiq’s ambitions are bold and they have a strong team and favorable working environment (Crypto Valley), their ambitions are as of yet unsubstantiated and hype regarding the project is – to date – lackluster. Emotiq receives a 5.5/10. Investment Details Type: Native – Utility Symbol: EMTQ Platform: Native Crowdsale: Private sale ongoing Minimum Investment: $100k Price: Contact email@example.com for more info Hard Cap: $39m Payments Accepted: ETH Restricted from Participating: Iran, Sudan, Libya, Syria, North Korea and the rest of the countries on the US sanction list are restricted from participating. Accredited investors from the US are allowed to participate. For More Information 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. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Daniel Won 4.9 stars on average, based on 17 rated posts Follow @HackedCom Feedback or Requests? Continue Reading 5 of 15 Seats Available Learn more here. 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We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com. Trending Altcoins6 days ago Why Investors Should Pay Attention to Waves Altcoins1 week ago Why Investors Should Pay Attention to VeChain Analysis6 days ago Has Ethereum Lost Its Cache? Analysis4 days ago Crypto Update: Coins Hit New Lows as Dead Cat Bounce Fizzles Out Altcoins1 week ago Why Investors Should Pay Attention to Komodo (KMD) Altcoins5 days ago Why Investors Should Keep an Eye on Zilliqa (ZIL) Analysis6 days ago Crypto Update: Dogecoin’s Bearishness Fogs Bullish Outlook Analysis5 days ago Crypto Update: Dead Cat Bounce?