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ICO Analysis: Harmony

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As of today, there are no blockchains in existence that can scale to the needs of 5G technology and the internet of things. According to this Huawei article, to meet the requirements of 5G you need 100 billion connections, 1 ms latency and 10 Gbps throughput.

New startup, Harmony Protocol, aims to be the first to meet these requirements by redesigning the public chain with top performance and physical locations, which will scale blockchain to 10 million transactions/second and 100-millisecond latency, and at no more than a 0.1% fee.

Let’s pause here. A lot of people are about to skim over the rest of this analysis, thinking it’s just another ICO promising the world. And to be honest, few of us are technical enough to know if what Harmony promises is doable. What I can tell you after looking deep into this company is these guys are “THE REAL DEAL HOLYFIELD”, and this project has the “potential” to be a top 5 token for all of crypto.

Harmony will try to bring 1,000x speed and capacity to the next generation of the decentralized economy, enabling open marketplaces for 10 billion people and 100 billion devices. They plan to do this by proposing linear scaling over network nodes and machine cores using OmniLedger and Rust. These innovations together will bring a 1,000x breakthrough to the scaling transaction rate.

Omniledger Byzantine protocol is a secure, scale-out, decentralized ledger via sharding. It currently does 13,000 tx/sec and 1.5 sec latency with 1,800 hosts.  The protocol has the following principles and optimizations for scaling.

  • Atomic shard commit: Each shard uses O(log n) multicast tree-based BFT to unanimously accept cross-shard transactions with O(1)-size coordination.
  • Gradual transition Sybil resistant identities to maintain liveness when swapping. A sliding window from a fixed permutation to ensure ⅔ honest majority.
  • Pruning checkpoints State blocks for storage and bootstrapping against Byzantine DoS. Multi-hop, collectively signed back -pointers, 100x space savings.
  • Parallelizing blocks Acyclic graphs to capture transaction dependencies transitively. This divides each shard into groups to replace faulty nodes with a view-change.

A few of the most interesting features Harmony will offer are Location Oracles, Decentralized Maps and an AI data marketplace. These things will allow new innovations to move from imagination to reality, including:

  • Community content: Long-tail features, incentivized games, #pokemom, augmented reality and IoT w/ GPS data.
  • Smart cities: Autonomous vehicles-, ~1,000 self-organizing swarm robots with driven mission.
  • Privacy: Preserving Multiparty computation, #deletefacebook, homomorphic encryption.
  1.  Location Oracles: Nodes must be able to independently verify an oracle’s consistency so that it can effectively serve as authenticated data feeds. It is a challenge to integrate smart contracts with oracles that serve as authenticated data feeds. The team studied Crux: Locality-Preserving Distributed Systems for optimizing routing and for exposing network topology. This can take the GPS signals of mobile or IoT devices as proof of location in applications.
  2. Decentralized Maps:  Maps for geocoding and points of interest can be a showcase for decentralized applications in the real world. A good starting point for building decentralized maps on Harmony can be augmented reality games with incentives like Pokémon. The competitive advantage of decentralized maps is the long-tail, community-specific content. For example, a school can mobilize all of its staff to map out its buildings and playgrounds in a day; any student or organization can then build games and events on top of the location data without coordination.
  3. AI Data Marketplace: Harmony will also serve as a high-volume data marketplace and optimize its machine learning performance. It will follow blockchain-based machine learning marketplaces to build a new decentralized economy based on data.

Harmony also explores the design space and the scaling of smart contracts. It designed a new programming language called Min, and built a prototype compiler to demonstrate its ease and security, It compiles Min directly to machine code, eliminating the common dependencies of libraries or system tools. Currently, the compiler bootstraps itself in x86-64 instructions and supports development in Mac OS. In an unpublished repo Min also compiles to Java VM without any third-party tools.

The company has the following message:

“Computers automate tasks, Internet delivers information, smartphones bring mobility at almost no cost. Harmony will bring the next revolution of the decentralized economy to the masses, in which enforcing transactions and contracts is essentially free. Harmony will enable disintermediation of trust where anyone can create businesses without a central authority. For example, all 10B people can vote on a bill in 17 minutes; or, organization resources can be efficiently re-allocated every second.”

Token

The token model of Harmony aims to build a sustainable platform with help from decentralized developers and aligned investors, balancing the long-term commitment of development with the tiered incentives of investment.

The distribution is as follows:

  • 40% Community and Developer
  • 28% Foundation and Research
  • 20% Sales and Floating
  • 12% Founder and Team

For details on token lockup periods and incentives check out page 20 of the whitepaper.

The use of proceeds are outlined below:

  • 40% tech development of protocol platform
  • 20% Community Engagement and developer programs.
  • 15% Business Dev, Marketing
  • 10% Operations, Equipment, Cloud Servers
  • 10% Collaboration with Academic Research
  • 5% Legal, Finance

Team

The team is the reason we decided to run this analysis early before all the info was available. Readers need to know about this stacked group of elite techies.

Stephen Tse: is the project founder. His past experience includes: research at Microsoft Research, senior infrastructure engineer at Google, principal engineer on search ranking at Apple. He founded the mobile search Spotsetter with institutional venture capital; Apple later acquired the startup.

Alok Kothari has experience in deep learning models for natural language understanding at Apple Siri. His research paper won the best data set award at ICWSM 2013.

Rongjian Lan is an infrastructure engineer for Play Store at Google. He has published more than ten academic papers on spatio-temporal querying and map-based visualization. He is the co-chair of ABC Blockchain Foundation with 100+ engineers from Google, Facebook and LinkedIn as members.

Hakwan Lau is a Rhodes Scholar that specializes in neuroscience and machine learning. He was an associate professor at Columbia University and has published 90+ papers in peer-reviewed journals.

Trausti Kristjansson, whose previous experience includes stops at Microsoft Research, IBM Research and Google Research, founded full-stack startups and led PhD engineers at the top of their field as an Engineering Director.

Team member Bruce Huang served as engineer lead at Microsoft for seven years, a director at Alibaba Cloud and at Credit Ease. Later, he was the CEO of Madailicai, a top peer lending company in China.

Nicolas Burtey founded a VR video startup in 2012 that grew to 40 people and raised $10 million. Orah served the needs of thousands of professional content creators in 70 countries by selling GPU-driven live stitching software and 360° camera.

On top of that, Harmony has six extremely impressive advisers/collaborators. Check them out here. Below we highlight two project collaborators:

Verdict

I’ve watched more than a few conspiracy theory videos on YouTube. I know about Bilderbergers and The New World Order. This team has Illuminati written all over it. Hakwan Lau is a Rhodes Scholar for shit’s sake.

Hakwan’s latest science paper was called, “What is consciousness, and could machines have it?” At Harmony, he is exploring the connection between probabilistic consensus protocols and brain communication. He’s also studying “privacy-preserving modeling of mental patience’s data on blockchain.”

The whitepaper lists Harmony Protocols’ closest competitors; EOS valued at $14 billion, Zilliqa valued at $700 million, Hashgraph at $300 million, Thunder $100 million, Dfinity $100 million and Kadena at $12 million.

These valuations show just how important scalability is to the market. It’s everything right now.

Harmony has yet to announce its hard cap. Word on the streets is that it will be around $40 million. That’s massively less than the rest.

Risks

  • The token model is unsettling. Twenty-one billion tokens is a massive number. They do not give details on the utility uses of the token yet. It looks like there will definitely be staking nodes which means inflation. -1.2
  • A good question in their Q&A section was, “If OmniLedger is 13,000 tx/sec, how does Harmony make the leap to 10M tx/sec?” The answer: “Our further boosts to 10M tx/sec might come from: 100x more nodes (including light clients), 10x network (1Gb and 20ms world round trip with backbone relay), and 10x manycore graph processing.” So in order for Harmony to scale like they say they can, it will require community node participation. The more nodes go onto the chain, the faster it will transact. Growing their community to that scale will be very tough. -2
  • They aren’t doing a public ICO as of right now. So far they raised $18 million in a private seed sale. The whitepaper only mentions this in regards to further sales: “2018 Q4- Raising $?M as the final private token presale”. -1
  • No Telegram or community yet. Its still early, but still – they collected seed money already. -1

Growth Potential

  • Protocols that host DApps do really well. This one has innovative Location Oracles and Decentralized Maps. +4
  • They designed their blockchain with the 5G network in mind. The sky is the limit if they become a major player in 5G blockchain protocols.+2
  • A subproject of Harmony is a new programming language for writing smart contracts in an easier and safer way. Memory management requires enormous development effort or it dominates run-time cycles. According to the company, “Min’s innovative type inference automates ownership annotations in a region-based memory model, so code remains at a high-level abstraction without the complexity of a garbage collector.”+1
  • They plan on integrating the following aspects of a consensus protocol: scripts and contracts, fairness and efficiency (anti-pooling, proof of useful work, proof of stake), security and privacy (multi-signatures, attack models, verification) and off-chain and edge clients (Lightning, IoT)+1
  • This 2018 roadmap/chore list is strong. +2
  • Team is absolutely outstanding.+3

Disposition

This is a crypto investors wet dream. A team of ex-Apple and Googlers building a protocol for DApps that promises to scale the Decentralized 5G Economy to 10 billion People. Its a shame they won’t let the public buy into the sale easily. Guess we have to wait.  7.8/10

Investment Details

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: 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.

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