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ICO Analysis: Etherparty

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Smart contracts are great. They are a transparent way to conduct business and other operations without human interference. Human intent can be agreed upon and expressed once, and acted upon forever. We can imagine situations where smart contracts won’t work as well as their legacy models, of course, like overbilling situations or exceptions to policies that require human finesse. Nevertheless, the full benefit of smart contracts won’t be felt by society at large until it becomes overtly hard to do them wrong. Because smart contracts are a power tool where most people are accustomed to using hand tools, and mistakes are easy to overlook or make. Compounding the complexity is the potential for exterior security vulnerabilities to make smart contracts vulnerable.

What’s required then is a system, or many systems (more likely), which make it very easy for humans to write valid smart contracts and very hard for them to write dangerous ones. Etherparty is another effort in this direction, though hardly the first. In fact, several ICOs have been aimed at lowering the technical debt incurred in entering the world of smart contracts. At heart, several ICO’s products have essentially been graphically-friendly templates that allow the user to generate smart contracts, and their smart contracts generally require some interaction with the sub-network’s token system. Aragon and several others do this for business, but a more direct comparison can be drawn between Etherparty and BlockCAT.

Etherparty bills itself as “a platform that will enable anyone to write smart contracts across multiple blockchains.” BlockCAT essentially wants to be the same thing, calling itself “smart contracts for everyone” and letting you know that “you shouldn’t have to be an expert to use smart contracts.” We feel that, actually, in the grand scheme of things, many more than just these two will be necessary. So a lack of novelty in the concept of consumerizing smart contract authorship is not going to be a major drawback in our assessment of Etherparty. While we run the clear risk of joining the cavalcade of people much too early pronouncing the arrival of the blockchain revolution, we do think that such a revolution is going to require easier tools for participation, and that those who provide them stand to make a few fortunes.

Etherparty Overview

Since we have a clear understanding of what Etherparty is doing (Wix or Geocities model of Smart Contracts), our overview should focus more on their design intentions, or things that it will product to make itself stand out.

Here are a few things we noted:

  • Differentiating from BlockCAT, they intend for smart contracts to be able to be used on any blockchain that supports smart contracts.
  • Etherparty users won’t have to sync with the Ethereum network to execute their contracts.
  • A tiered subscription model keeps the system in constant income.
  • An enterprise solution to compete with Aragon and others will be offered; it will use the same FUEL tokens.
  • Human arbitrators can be allowed access to Etherparty-generated smart contracts. While this point is listed under “flexibility,” we hope that they can also be flexibily forced to remain under the terms of the contract, or else some types of businesses will not be interested.

Etherparty’s design calls for as much user-friendliness as possible. Their mock-ups are certainly attractive:

Thus far, we’re having trouble objecting to much in the concept except its timing. Mass adoption plays are probably still early, although we must note that Coinbase.com has seen heavy, heavy pick-up in recent months. That’s to say they may be less early than the author suspects.

Etherparty Token and Function

A subscription-based platform is the perfect use of a token – the value of access to that platform then helps determine the speculative value of it, giving analysts and traders a clear baseline to navigate from. Etherparty’s platform will have 1 billion tokens with access to it. When tokens are used in the platform, they are then recycled and put for sale again. Etherparty will offer a method for users to acquire them, and just like any other ERC20 token, people will be able to trade and buy them on exchanges as well. The price provided by Etherparty will be a critical instrument in determining futures on FUEL tokens.

Distribution

1 billion tokens are being issued in total, with 400 million already having been sold in a pre-sale. Another 400 million are going to be sold over a maximum of four weeks beginning September 15th. 100 million are held back by Etherparty to issue out as bounties and such, while half that figure are going to be kept for the team themselves. However, the 15% of tokens just mentioned will be locked for 6 months following the ICO – don’t put a lot of stock in this, as it doesn’t matter – six months is a short enough time to do nothing of consequence, but it does keep the tokens off market, which at least ensures that the market can play itself out correctly.

Etherparty Team

On his own website, Kevin Hobbs describes himself as:

a dynamic, outgoing individual with the skill and experience to get to the meat of the issue and provide solid strategies and problem solving methods to achieve and supercede sales, business development and overall organizational company goals. A proven ability to build sales pipelines, establish new business and satisfy customers and partners with outstanding service. Proficient in building departments at dynamic high-growth startups and fulfilling sales targets within small, entrepreneurial companies as well as large established organizations. A strategic thinker with a proactive, creative and collaborative approach. A true leader and team player with B2B and B2C experience.

Based in Vancouver, Canada, Hobbs has previously worked in stock trading, including as a corporate trader for FIRMA FOREX. He spent five years between 2010 and 2015 overseeing the operations of an oil rig (no joke.) Then in late 2015, Hobbs joined Vanbex, his primary pusuit.

The Vanbex Group delivers strategic business consulting and marketing activities for early stage and venture backed companies in the Blockchain industry.

Hobbs wrote on the Ethereum DAO fiasco last year, saying:

So while the inner workings of The DAO as a crowdfunding vehicle is automated, the collective of minds and the decisions afforded to them are not — and so the picture of inefficiency, indecisiveness and lack of top-end leadership begins to paint itself. […] It’s not necessarily a chaotic system, there is order set by the governing contract (DAO 1.0). […] But from an objective position, someone who has no vested interest or stake in the Ethereum-based crowdfunding vehicle, it seems a decentralized organism lacks something so pivotal to success in business — to entrepreneurship — especially early on, that is, a central guiding force.

It seems the central guiding force that Hobbs found for this problem he elucidiated was Etherparty, which allows for human arbitration to occur and provides significant guidance on how that should be done in its whitepaper.

Yet, listed as the founder is Lisa Cheng, also founder of Vanbex. Her name conflicts with a world famous body builder and a professor in Norway, but we quickly found this video of her speaking about her work at Vanbex:

She lists some previous credits to Vanbex and Etherparty on her personal website, and also notes there that she was building websites on Lycos.com as early as age 15. (Notable and mildly ironic given her present pursuit in Etherparty – wouldn’t it be great if making smart contracts was as easy as making websites on Lycos was?)

She previously worked in sales for SAP and ADP, and also spent a few months working at Mastercoin, “a non-profit supporting the development and innovation of Bitcoin technology.” Perhaps most importantly, she spent 3 months working for the Big E, Ethereum proper, in communications. This is notable because she likely retains connections from that time in her career.

The Verdict

A winner both short and long-term? We think it’s possible. Etherparty are cognizant of the reality that the next unicorns will be those who focus on blockchain adoption. Their work through Vanbex puts them deeply in touch with many parts of the industry. We think they will develop an initial userbase quickly and that the company will thrive.

All of that said, a billion tokens requires a lot of demand in order to maintain a decent price. The rate that investors reading this review will get starts at 0.00033 Eth and rises to almost twice that by the end of the sale, supposing that tokens don’t simply sell out in the first week at the lowest price. The final rate is about 24 cents and the initial rate is about 12 cents each. If we take a median between the two, 16 cents, and multiply that by the number of tokens that will be in the breeze – 850 million – we have a network valuation of around $136 million.

With 1 billion tokens, every dollar on the token requires a billion dollar valuation of the network as a whole. While we can definitely see this happening, it makes the actual business prospect associated with the tokens … interesting. If to conduct the same operation one day costs someone a wildly different amount than the following day, problems could arise. We assume that Etherparty will incorporate a price-fixing mechanism that prevents actual customers from suffering at the greedy hands of speculators – they must be allowed to speculate as wildly as they want while the token should still be usable on the platform itself.

Risk

  • Subscription model is great for revenue, but always makes Etherparty vulnerable to other models. Whole system is built around subscription model, or else the tokens lose their value, so this is important to be wary of. -2
  • Mass adoption target makes the task much bigger. -1
  • While we like the recycling of tokens and having a ticket vendor at the front provided by Etherparty, we worry that 1 billion tokens outstanding will permanently depress the value of an individual token, or in any case slow down the progress of that all-important “last price” metric. As such, for the short-term traders, we have to deduct another point.

Growth Potential

  • Even the worst idea in easy-to-use smart contracts should get one point, so let’s start there. +1
  • Targeting all blockchains instead of just Ethereum puts Etherparty in a more competitive and attractive position than BlockCAT, one of their key competitors. +2
  • Identifying ease of use and mass adoption as primary growth areas will yield greater results than projects which focus inwardly, wanting to service existing blockchain companies and users. +2
  • Team exudes confidence and knowledgability. While we didn’t mention him in the team section, lead architect Kevin Onn has three decades of programming experience. We hope this translates to him successfully picking a great team to build the project. +3
    • Founder Cheng’s connections to the Ethereum world will be valuable moving forward. +0.5

Disposition

Due to the high supply of tokens here, short-term traders who engage will have to be laser-sighted on their profit goals. Opening somewhere over 12 cents each, before they’re actually in demand for use, the tokens probably still have some room to grow on exchanges following their listing. Long-term, we think they will see higher than $1 when demand for their utility has grown enough – although by such a time there will be many avenues for that demand to explore.

All of this being the case, this author’s subjective disposition on Etherparty is that it’s a 4.5/10 for short-term traders looking to ride the wave (it will likely crest quickly) and a 5.5 for those who have a tolerance for locking funds away for a significant amount of time, understanding that society itself is shifting in ways that will create unprecedented demand for this token and all things like it.

Investment Details

The FUEL token sale begins September 15th at 10AM Pacific time. You can sign up for updates via https://ico.etherparty.io/ but we feel this just opens you up to phishing attempts. Your best bet is to check that website and https://twitter.com/vanbexk for any changes on September 15th.

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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  1. bluntt

    September 11, 2017 at 10:47 am

    is there any forum or a board here on hacked where we can discuss icos in a more private manner?

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ICO Analysis: Hypernet

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Supercomputers

Hypernet technology allows personal computers, smartphones and even fridges with processors to connect with each other and become one completely ”parallel” supercomputer. The combined synergy between numerous devices can create calculating capacities which can rival every existing supercomputer.

With Hypernet it will be possible to lease your unused computing power to other users who want to use it and are willing to pay for it. Sellers register their devices in Hypernet and set the price for the time. Then, like traditional cloud services, buyers write a program and ask for hours of computing on a certain number of devices to run their program. Hypernet ensures that the buyer’s program will be divided and safely sent to each of the devices, processing arbitration between users.

Let us touch the topic of supercomputers in general.

Any supercomputer is just a just collection of computers. They are optimally connected and allow synergy between devices. However, these supercomputers are very bulky and require maintenance. The second development is a distributed supercomputer, which is based on the same concept, but devices are connected through the internet. Currently, supercomputers can only work on specific tasks. Hypernet intends to solve this problem by creating a network in which all operations will be performed much faster and in parallel. The resulting in Hypercomputer is not limited in its computing abilities in the way like other distributed supercomputers.

From a tech point of view, Hypernet is innovative because of several reasons:

  • Computation works for almost all types of problems, while competitors in distributed computing have tried to approach the most straightforward class of programs called grid computations.
  • An algorithm based on a distributed average consensus that was developed from scratch especially for dynamic, distributed and decentralized device networks.

This gives Hypernet the ability to run all classes of problems in parallel which results in an infinitely scalable network that is not limited to the cost and time required to create new data centers. This allows data reduction for massively-parallel sets of tasks.

Competitors

Hypernet’s direct competitors are SONM, Golem and Constellation Labs.

Road Map

Hypernet has three main elements, each with a separate roadmap:

Blockchain Resource Scheduler – The Hypernet Foundation will work with developers to create a schedule in the form of a graphical dashboard. Sellers will be able to use the scheduler to specify the conditions for using their equipment (when the equipment can be used, how much memory and disk should be available, and how much of their processor time they are willing to offer).

Hypernet Consensus Infrastructure – The Hypernet Foundation will work with third parties to develop an API library for distributed average consensus in a hyperlink with a lever.

Hypernet Executable Environment – To ensure security and interoperability in the system, it is expected that the Hypernet Foundation will create a sandbox environment for executing executable files to isolate them from the vendor’s hardware.

Token

The project has a sophisticated token use structure.

STAKING: Buyers and sellers must stake HyperTokens to complete compute jobs.

REPUTATION: A user’s reputation increases by being a reliable and responsible compute provider and compute purchaser, and this reputation is permanently logged on the blockchain. A user’s reputation increases the likelihood of participating in compute jobs.

CURRENCY: HyperTokens are the transactional currency which enables the buying and selling of compute on the network.

AVAILABILITY MINING: Individuals can mine HyperTokens while waiting for compute jobs, by just being available in the lobby. This incentivizes users to join the network and make their devices available.

DECENTRALIZED GOVERNANCE / VOTING: Nodes participate in challenge and response and are incentivized for helping maintain the quality of the network, and weeding out bad actors.

There is no information on token distribution and use of funds available.

Team

Below is a rundown of key team members.

IVAN RAVLICH

  • CEO and Founder
  • Graduate of Stanford.
  • Development of start-up products in the companies Ad Astra Rocket Company as plasma physicist
  • LanzaTech as a chemical engineer.
  • Candidate research at Stanford focused on advanced space motion from magnetoplasma missiles to expanded theories of gravity.

TODD CHAPMAN

  • Co-Founder and CTO
  • Graduate of Stanford.
  • Awarded a US Defense and Engineering Scholarship in the Department of Aeronautics and Astronautics, Stanford, for his thesis.
  • Current research interests relate to fault-tolerant algorithms for distributed and exact computations and the application of optimal control methods for the training of stabilized neural network architectures.

DANIEL MAREN

  • Co-Founder and CFO
  • Graduate of Stanford
  • Founded in 2013 a company of solar power electronics Dragonfly Systems with a successful exit when the company acquired by SunPower Corporation in 2014.
  • Remains advisor to SunPower
  • In 2009-2013 years. was a co-founder of the non-profit organization weJAYA, which dealt with the fight against poverty in West Timor.

Advisors

The key advisors are listed below.

RANDALL KAPLAN

  • Randall is a co-founder of Akamai Technologies, the global leader in Content Delivery Network (CDN) services. Randall is also the founder and CEO of JUMP Investors, a venture capital firm that also functions as his family office (notable investments include Google and Seagate.)

MARC WEINSTEIN

  • Marc Weinstein is the Head of Research & Analysis at DNA Fund.

Verdict

Below is the breakdown of risks and growth factors of the project.

Risks

  • The competition in the sector is very large. Both from centralized systems like Amazon, and from decentralized (Golem) and those that are doing ICO at the moment (Ankr Network, Arpa, Teex) -1
  • The team does not have much experience in parallel computing and blockchain experience -1
  • No information on token metrics at this point -1
  • WP technical assumptions are very questionable as the use of blockсkchain is not entirely understandable in view of the fact that the same system based on HyperLeger can do everything as effective -1
  • The mainnet launch was scheduled to be released in August, but there are not new releases of development announcements at this point. -1

Growth Potential

  • hard cap of 15million is pretty reasonable for this space +2
  • The team is a good one for a start-up. Young graduates of good universities and an interesting background +2
  • Have some institutional support (The DNA fund) +2
  • MVP is available +2
  • There is a market for growth in the space +2

Disposition

In general, the project can be assessed as average. The team is good but without much experience in the industry. The product is interesting, but there are delays in implementation, which for me is a red flag. 5 out of 10.

Investment Details

  • Type: Utility
  • Symbol: Hypertokens
  • Platform: Ethereum/Own platform
  • Crowdsale: June
  • Minimum Investment:
  • Price: TBA
  • Hard Cap: 15 million USD
  • Payments Accepted: ETH
  • Restrictions Barred from Participating: TBA

General details

Website: https://hypernetwork.io/

Telegram: https://t.me/joinchat/H-DkTAx1R8A0HvY6vNs5Xw

Whitepaper: https://hypernetwork.io/HypernetWhitePaper_v1.1.pdf

Twitter: https://twitter.com/GoHypernet

Facebook: https://www.facebook.com/GoHypernet/

Reddit: https://www.reddit.com/r/HypernetComputing

Medium: https://medium.com/@hypernet/has-recommended

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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4.9 stars on average, based on 10 rated postsVladislav Semjonov has a legal and financial background. He has been involved in crypto space since early 2017 in both ICO advising positions in several ICO consultancy firms, and as an ICO analyst for VC. He began contributing for Hacked.com in April 2017.




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ICO Analysis: Virtual Rehab

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According to recent studies, in the USA alone, over $35 billion a year is spent on addiction treatment services, and about $80 billion is spent on incarceration. Despite this spending, 77% of released offenders recidivate within 5 years. Luckily, with the recognition of the United Nations, The team at Virtual Rehab is coming out with new technology to fight this epidemic.

Virtual Rehab leverages virtual reality, artificial intelligence, and blockchain technology for the prevention of substance use disorders. It also provides correctional services training and rehabilitation to officers and offenders.

“Virtual Rehab believes that putting a kid in the corner does not teach them how to be a better person but rather teaches them not to get caught. Therefore, we are in it for the social good and to help address the needs of the most vulnerable populations out there.”

Four key components make up Virtual Rehab’s platform.

  • Virtual Reality: Real-life scenarios using cognitive behavior and exposure therapy to train users how to respond appropriately in the face of triggers.
  • Artificial Intelligence: Collects data from the VR environment and physiological data, and applies machine learning to identify areas of risk, make treatment recommendations, and predict post-therapy behavior.
  • Blockchain: A secure network to ensure privacy and decentralization of all data and all information relevant to vulnerable populations.
  • VRH Token: Used to purchase different services/programs. Also used to reward users who seek help through Virtual Rehab’s online portal.

Virtual Rehab’s services extend to hospitals, rehab centers, correctional officers, inmates and other verticals. Rehab for sex offenses, family violence, alcoholism, and many other offenses will also be supported. It can also be used to treat mental illness, emotional disorders, intermittent explosive disorder, and many others.

Virtual Rehab can overcome distance barriers, allowing rehab services to anyone, anywhere, because the technology can be implemented in a telemedicine context.

Here’s an example of what it might look like when a user is immersed in Virtual Rehab.

“And indeed, we capture the actions and reactions, decision making, and capture the biometrics (heart rate, blood pressure, and biodermal activity) along with keeping track of the eye movement using eye-tracking.”

The AI solution will aim to do three things:

  1. Identify areas of risk
  2. Make treatment recommendation along with existing medication prescribed
  3. Predict the behavior post-therapy

The HMD can include sensors that measure the physiological responses of a user as they interact in VR, such as heart rate or eye movement. This information is inputted in a sort of machine learning metadatabase to be used to assess whether the user’s selected responses are inconsistent with their physical activity. This helps determine if the user is attempting to deceive the system.

Token

VRH is a utility token built on Ethereum. It will be used to place an order and to download several different therapy programs (pain management, addiction prevention, cognitive behavior, etc). It will also be used to receive further analysis of the executed programs conducted through Virtual Rehab’s AI solution.

In addition, VRH will be an incentive to reward users for seeking help/counseling. Certain conditions will apply along with proof that users have sought therapy and counseling. Rewards will be claimable using the Virtual Rehab Portal.

Distribution:

  • 60% token sale
  • 15% Founders and Advisors
  • 10% Future Development Fund
  • 10% Partnerships
  • 5% Marketing

Use of funds>

  • 30% Marketing
  • 50% Future Development
  • 20% Partnerships

Team

Dr. Raji Wahidy – Founder and CEO. Spent 9 years in different leadership roles at telecommunications giant, Vodafone Enterprise. He spent 4.5 years manager at Ericsson Canada. Founded and successfully exited Amalana in 2012. Registered UN and UNICEF volunteer, and has received 16 global enterprise achievement awards.

Amal Azzeh – Co-Founder and CFO. 40+ years of experience in finance. She co-founded My Recruiting Team in 2016, a platform better known for its first-to-market Recruitment Helpdesk Support Services. No other work history is available on LinkedIn.

Jean Speville – Chief Mind Technologist. Four years as Senior Service Engineer at ASUS. Founded Vessla Development in 2015. Vessla recently created a completely cordless IoT screen with built-in WiFi. It consumes 99% less energy than LCD & LED screens. He’s a member of The Verizon Innovation Program in San Francisco, an Alumni of the Microsoft Accelerator Bootcamp Program, and a member of Sting Accelerate (Swedish #1 incubator for tech startups

They also list three consultants, including Pankaj Jain, who has worked for Nokia, AerNow, and Tivo inc

There are ten advisors. Instead of listing them all, we’ve highlighted some of the companies they have previously held high positions at: MEDNAX, HHS, SAMHSA, Microsoft, Kaiser Permanente, AIG, J.P. Morgan-Chase, MixERP, Ammeris

Verdict

“Virtual Rehab’s evidence-based solution leverages the advancements in virtual reality, artificial intelligence, and blockchain technologies for pain management, prevention of substance use disorders, and rehabilitation of repeat offenders.” And that’s just the tip of the iceberg. They will be getting into formal education as well as vocational training videos. Auto Mechanic, plumbing, how to properly putt a golfball… the possibilities are endless. On a recent Building The Future podcast, CEO Dr Raji talked about how he has had conversations with the Canadian Space Agency, who have been thinking of using VR for astronauts.

Risks

  • The ability to fully provide privacy, security and scaling is not there yet on the Ethereum blockchain. -2
  • The $20 million hardcap is rather high. This could cause a selloff early when this hits exchanges if demand isn’t there yet. -1
  • They are giving out $150,000 worth of VTR tokens during their ico bounty marketing campaign.  Their telegram has 18,500 members, 15,000 of them are either human or bot, there only for the bounty, not for the love. -1
  • The roadmap makes bold, unrealistic, claims, such as VTH will be listed on a top 10 exchange in Q1, and another top 10 exchange in Q2, and yet another top 10 exchange Q3. -2

Growth Potential

  • The team has connections to the UN, UNICEF, and 3 big accelerator/incubator programs. +2
  • First mover advantage (Addiction and Corrections). +1
  • Existing partnerships with Causalius, Chains International, Command Sourcing, Innovative Prison Systems, NETE, and Netswitch Technology Management. +2
  • Virtual Rehab will charge users for hardware, software licenses, programming required, and any support required. According to CEO, the total bill is still about 15% of the cost institutions pay now. +2
  • Unlimited expansion opportunities. PTSD, anxiety, autism, formal education, vocational training…+2
  • Dr Wahidy (Founder/CEO) just got awarded “Expert” status by the United Nations Global SCP program. This will open a ton of doors around the world. +4

  • Not much competition yet.+1

Disposition

Definitely keep this one on your radar, huge potential. 7/10

Investment Details

All unsold tokens will be burned. Tokens allocated to Virtual Rehab Team vest for 12 months.

The minimum contribution is $1,000 during presale and $100 during the main sale.

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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4.1 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!




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ICO Analysis: Ultrain

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Ultrain Technology Limited is a cloud computing and smart contract platform with a programmable tech-infrastructure and multiple add-on features. Ultrain will function as an infrastructure for scalable decentralized applications (dApps), as well as provide trusted computational services to multiple sectors, such as retail, shared economy, logistics, financial services, healthcare, and media/entertainment.

The company will use a new random trusted consensus framework allowing the network to use only 1% of computing power to mint new coins, freeing up the remaining 99% to be used by applications. Ultrain will provide computing power for network management, AI, user-friendly smart contracts, high-performance trust computation, and blockchain IoT services.

This business ecosystem is comprised of multiple business organizations separated into three sectors:

  • The Technology Sector: infrastructure services integrated based on public blockchain, AI, and IoT.
  • The Horizontal Services Sector: organizations that provide decentralized business services, including decentralized insurance, decentralized banks, decentralized loan services, etc.
  • The Vertical Application Sector: decentralized application services that can be implemented in numerous industries such as finance, retail, scientific research and development, manufacturing, logistics, entertainment, pharmaceutical biochemistry, food, real estate, education, agriculture, etc.

Consensus features of Ultrain:

  • Completely decentralized architecture
  • Ultra-large-scale network cluster
  • Multi-terminal support
  • High-performance computing
  • Decentralization design

Token

UGAS is the utility token that will be used within the Ultrain economic system. UGAS will be required to pay for the use of the computing power and third-party service components on Ultrain. Also, all participating nodes are required to mortgage UGAS. UTokens on Ultrain, similar to ERC20 tokens on Ethereum, will be issued by each dApps running on the network. dApps will choose their own consensus mechanisms and token metrics.

The project has already raised $20 million during a seed round, during which 10% of the token supply was sold. Five percent of token supply is allocated for private/public sale scheduled for Q4 2018. The overall breakdown is as follows:

  • 50% Mining
  • 15% Core Team
  • 10% Foundation/Ecology
  • 10% Private Sale (Already completed)
  • 10% Consultant & Community Building
  • 5% Future Private/Public Sale

Team

The Ultrain team is impressive, bringing extensive experience from powerhouse companies such as Alibaba, Google, IBM, and Ant Financial. Their experience includes IT, finance, blockchain, business, management, computer programming, & software development.

Team members include:

Rui Guo – Ultrain Co-founder & CEO. Former Technical Director for Alibaba Group. Former Senior Architect for IBM

Husen Wang – Ultrain Chief Cryptologist. Former Blockchain Cryptography Expert for Ant Financial. Former Project Collaborator for Luxembourg Institute of Science and Technology (LIST)

Yufeng Shen – Ultrain Chief Architect. Former Senior Technical Expert for Alibaba Group. Former Senior Software Engineer for Google

Advisors include:

Dr. Keyu Jin – Tenured Professor at the London School of Economics. Board Member for the Richemont Group. Harvard University PhD

Luyu Yang – Co-founder of musical.ly. Former Product Management Director for eBaoTech Corporation. Co-Founder of Snowbird Consulting

Verdict

Using a completely decentralized public network with lower operating costs, higher operating efficiency, and innovations in cryptography, Ultrain aims to surpass traditional public blockchain platforms in performance and scalability with up to 20,000 tps. With a stellar team and strong financial backing, Ultrain could become a major player by 2019.

Risks

  • Even with an all-star team, competing with the likes of Ethereum, EOS, and NEO is no small task. -1
  • Token metrics are a major aspect which ico investors consider. Based on current information available, the total market cap valuation is $200 million which is rather high in the current market. -1
  • The hype factor for Ultrain, which carries weight in the current crypto market, isn’t considered high. However, it is currently growing and gaining momentum. -1

Growth Opportunity

  • Ultrain will release important R&D milestones and be the keynote speaker at SF Blockchain week in October to kick-start the developer community building for Ultrain. There are several products to be released: (1) Public testnet launching, (2) Permitted mainnet launching, (3) Zero knowledge proof demo, and (4) Multiple DApps demo on chain. +3
  • Unitopia lab, a Blockchain research lab of the well-known Chinese video game developer Electronic Soul, announced a strategic partnership with Ultrain. Together, they will aim to establish a presence in this new market and make Blockchain video games a household product. +3
  • DApps will be able to use their own consensus mechanism or choose PoW, PoS, DPoS, POA, and RPOS. +2
  • Ultrain has an extensive list of investing partners including Draper Dragon, FBG Capitol, KuCoin, and Bixon. +2

Disposition

While Ultrain hasn’t gotten as much attention as some hyped up ico’s, this could work out in favor of investors who see an opportunity of an excellent project that’s been flying under the radar. The team and advisors are solid, they have a partnership with Unitopia lab, and they have the backing of numerous VC firms. All things considered, Ultrain receives a 7 out of 10 rating.

Investment Details

  • Type: Utility
  • Symbol: UGAS
  • Price: 1 UGAS = $0.20 USD
  • Total Supply: 1,000,000,000 UGAS
  • Private Sale: 10% of tokens (Completed)
  • Future Private/Public Sales: 5% (Q4 2018)

For more information regarding Ultrain:

Website: http://www.ultrain.io
Telegram: https://t.me/ultrainchain
Twitter: https://twitter.com/UltrainB
Facebook: https://www.facebook.com/Ultraincommunity/
Medium: https://medium.com/@ultrainchain

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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