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ICO Analysis: IOTA

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The IOTA ICO raised 3000 bitcoins in a presale, a remarkable amount of value. It bears exploration. In a quick web search, one of the first things we come across reads:

Iota is the first cryptocurrency without a blockchain. It uses the “Tangle”, which is based on DAG technology. In a traditional blockchain, various transactions are bundled in each block before this bundle of transactions is verified by miners. In the Tangle, every single transaction forms a new block and is essentially verified by itself: In order to successfully conduct a transaction, you first have to verify two randomly chosen transactions is the network. This is done with help of a very simple version of proof-of-work, therefore one could argue that transactions aren’t zero-cost. Yet, the transaction costs are essentially not existent, as the needed PoW is so low that every single device is able to independently carry it out.

This seems out there, on first glance, especially as a virtually untested technology – or is it? IOTA’s goal is to be a currency used in the burgeoning Internet of Things market, one whose growth will likely increase as more millenials buy homes in the coming decades. Overly invasive or home-altering technologies are slow to adopt with generations who didn’t grow up surrounded by technology, but people who had smart phones and iPods in high school will be interested in improving their home experience with the cloud and so forth. As such, monetized data sets could emerge which would, in turn, assist people in everyday routines. Perhaps people would not know they were paying for such things. This is just one case where IOTA might come in, there are many others. IOTA is part of a recent line of very forward-thinking, high value (and high value target) token-based ICOs which are purely for the purpose of fundraising and speculation on the part of the funder.

Instead of offering yet-another-coin or what-have-you, these ICOs intend to innovate with technology that solves problems across broad spectrums. It is no wonder IOTA funded so heavily, for even if it turns out to be a failure, any relevant code could be revived by jilted investors and potentially tried again. Even privately funded, such an idea could garner millions of dollars a month, a week, a day, an hour? It’s hard to tell how much you could make through a platform like this, but the important thing to keep in mind with any newfangled technology is that you can also, get ready for it, make absolutely nothing at all.

Yet, if you’re betting in the cryptocurrency space, you’re already looking for some action, some volatility. So ICOs that are offering solid technology are important to bring to the attention of all involved, and as such let’s run over the merits of the IOTA platform, before diving into some of the finer points:

  • IOTA introduces a concept of “non-blockchain” blockchain tokens. It’s evident that such a system is going to require testing, and this does affect its safety as a value token – but since the token has already raised some funding before even going public, it would seem that confidence in its ability to eventually return value is high.
  • Further revolutionary, as it were, (or counter-revolutionary, depending on your level of Bitcoin maxmalism), IOTA aims to have no fees. The fundamental argument behind the incentivized ledger of Bitcoin, rather than a blast of tradeable tokens at the outset, is that the security and sanctity of the ledger becomes the imperative of the users to preserve, such that they can continue to be reward. Without this monetization, the blockchain must somehow be immune to alteration from “unauthorized” parties – which is funky concept already when you are dealing with blockchains. We will have to look further into this below.
  • One way this could be seen as working is simple: a public rail is provided by someone, and they ask others if they want to provide information over this rail. With it, they can cryptographically prove the location of, say, the UPS, or mail man, or something along those lines. Pets, even children. The GPS location of the registered item could be accessed at any point, using the public rail, having paid a subscription fee to the owner of the rail. One might ask why Bitcoin or an Ethereum token could not simply achieve this goal, and the answer is that they could. In the whitepaper, the authors freely acknowledge:
    • “The rise and success of Bitcoin during the last six years proved the value of blockchain technology.”
  • IOTA’s offering is fundamentally different in that it does not:
    • require mining
    • consider block sizes
    • lack incentive among users to use.

Incentives in a Tangle? Maybe Not

Nevertheless, we must go over the finer point of the incentivization of a blockchain. Numerous banks and others have, over the years, with little or no prompting nor research to back them up, proclaimed that cryptocurrencies will be short-lived, but the blockchain itself is some great advancement. But the blockchain without a cryptocurrency tied to it is not only uninteresting, it’s not actually secure. People need incentive to ensure that something is legitimate – there is overwhelmingly the opposite incentive with centralized currencies and financial institutions. As such, a ledger like Bitcoin, which is trustlessly agreed upon by dozens of thousands, if not more, miners across the globe, all competing for scraps of digital gold, it becomes evident that such a thing must be at least accurate or else one or the other would be able to gain some advantage by having a smaller version or something.

But those are the incentives in Bitcoin.

In IOTA, the incentive to use it is that you must use it in order to use it. In order for one’s own transactions to be entered into the ultimate register, one must also act as a relay for at least two other transactions. As such, a mining conglomerate is not required to certify that a transaction has taken place. As the nodes meet each other, the transactions permeate. It’s a fundamentally different approach to data storage, but perhaps no less valid. Importantly, it doesn’t at a given time require a “longest” identifiable file, but rather all the data will eventually mesh with all the other data, cryptographically forming a representative of the economic community.

Collectively, this representation of transactions/economic activity is referred to as a Directed Acrylic Graphic (DAG), which in the context of IOTA is a “tangle.”

The transactions issued by nodes constitute the site set of the tangle (i.e., the tangle graph is the ledger for storing transactions). Its edge set is obtained in the following way: when a new transaction arrives, it must approve two previous transactions; these approvals are represented by directed edges, as shown on Figure 1 and others (on the pictures, times always goes from left to right). If there is no directed edge between transaction A and transaction B but there is a directed path of length at least two from A to B, we say that A indirectly approves B. There is also the genesis” transaction, which is approved (directly or indirectly) by all other transactions, see Figure 2. The genesis is described in the following way. In the beginning there was an address with balance containing all the tokens. Then the genesis transaction sent these tokens to several other founder” addresses. Let us stress that all the tokens were created in the genesis (no other tokens will be created), and there no mining in the sense miners receive monetary rewards”.

Thus, if Bitcoin’s blockchain is a trustless ledger, IOTA’s tangle is a sort of trutless mesh + ledger.

What will be battle-tested, then, in the launch of IOTA, is the notion of a completely different kind of ledger technology, competing in the same space, with the same ideals, as Bitcoin, but usurping its utility in terms of various applications – in this case, Internet of Things, but others could come along. One can envision all sorts of uses for very specific, very intelligent tokens that don’t require a long approval (confirmation) process before becoming useful. Although cryptocurrencies using the same fundamentals as Bitcoin have solved this problem already, like Dash with its InstantSend, there are a lot of areas where Bitcoin does not perform for some markets that others can rise to replace and compete with it for the crown.

The IOTA Team

A bet on IOTA very much involves the team behind it, since even if it works in theory, it must execute in practice as close to flawlessly as possible given that it is serving financial needs. While IOTA does not put their developers front and center on the website, the very highly polished delivery is anything but a mistake.

One of their developers is a definitely active developer, Oliver Nitzschke, whose Github profile shows significant activity over the past couple of years. He works on several different types of projects, including a number of issues related to mobile technology. The company he concurrently works with, Pinpong, is an Android development company. Presumably, mobile platforms will play a huge rule in the IOTA economy – fewer and fewer business people would be caught without at least one smart device, but many have multiple devices. The higher levels of these, like the smart phone and the tablet, could generate and share transactions for a purpose, virtually eliminating the need of specialized hardware – which is another drawback to the conventional, tested Bitcoin model.

Other developers have little or no public information about them at all, but still appear to have contributed to multiple modules of the project, like Developer Come-from-Beyond.

Given recent past experience, such oversights as a lack of easy-to-access “team” information is not a huge problem for ICOs, especially not in this heightened hype bubble climate. Such climates are always good for the agile trader, ready to liquidate positions and hold others beyond reason. The Github list of people can do for now.

The Co-founder of IOTA, we learn in this manner, is Dominik Schiener. As you would expect, given the nature of the IOTA whitepaper and the innovativeness of the technology being discussed, this guy has no lack of chops when it comes to coding and cryptocurrency. He has a fully functioning public voting system for the Ethereum platform and much more to his credit via Github. Needless to say, he knows what he’s talking about. Attempting to introduce a “blockchainless cryptocurrency” is an interesting, if noble, pursuit, however. It should be noted that no cryptocurrency, at this point in the scheme of market adoption, is truly in competition with any other. They all share enough properties that a few of a number of things could happen to any one of them and significantly increase their value, utility, and validity in a very short period of time.

The Verdict

Well, do you like to live dangerously? Investing in a completely nascent, truly untested technology is… exactly what the Bitcoin millionaires all did. They had a feeling that it would work, they bet big, and they won big.

However, just as Bitcoin is already seeing other coins begin to edge in on it in terms of usage and adoption and buzz, IOTA could face stiff competition from similar rivals, based on the same ideas or slightly tweaked – or even improved – versions of them. Popov’s Tangle proposition could prove valid indeed – but ultimately be executed by someone else, the way a theory one developed today could be proven after one had lived. This problem faces any nascent technology. People could feel that tangle itself is the innovation, and build alternative solutions using it directly. The risk of companies doing this in a semi-proprietary way is there.

Nevertheless, this type of innovation is the kind you either have the guts to get on board with you or you don’t. The author has considered leaving it unrated, but feels comfortable saying a 7/10 in terms of safety/ability to get the value of your tokens back from them at some point, and hopefully a profit. Getting in early on a totally new way of transacting has to be worth something, and having enough shares could net a healthy sum. Yet, all the same, as with all things in the cryptocurrency space, me-too products will follow, and some of these will be just as awesome.

Investment Details

IOTA will begin trading at Bitfinex on Tuesday at 1PM UTC. According to Bitfinex, it was a rare move to add such a nascent currency:

Several factors have gone into our decision when considering the addition of IOTA trading on Bitfinex. Some of these factors include user requests, market capitalization, design parameters, and a thorough assessment of the token’s development process; including the team behind the token, their strategies for solving technical and nontechnical problems, as well as addressing the scaling issues currently confronting traditional blockchain technologies.

Bitfinex has an awful lot of traders who love some good moon shots, so it should be an interesting week for IOTA.

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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ICO Analysis: IoTBlock

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Internet of Things is an emerging technology with the potential of immensely improving our lives. Connecting every single capable device, whether it is a car, a home appliance or a billboard, IoT allows for the collection and enabling of data analysis in a more efficient, faster and cheaper way. Consider that a car accident has just happened quite close to your workplace. This causes a traffic jam, making it inconvenient to use a private car. Usually, this information is either made public too late or is not released at all. If you had known, you could have used some other means of transportation, like the metro, and avoided wasting your time in traffic.

It is almost certain that this technology will take off in the future as many industry giants have already started to research and produce several products. In fact, it is estimated that by 2025 the IoT sector will grow to $11 trillion with 75 billion devices. Yet as in any emerging technology, just as in the case of blockchains, there are several problems which are required to be solved before it is widely used by the public. Studies show that 70% of IoT devices use non-encrypted forms of communications and 80% don’t have even the most basic security. Unfortunately, this makes it possible for hackers to abuse security flaws in a single device and gain access to the whole network. For instance, earlier this year, some hackers used an IoT-connected fish tank thermometer to steal a casino’s database.

In order to solve current and foreseeable problems in the IoT industry, IoTBlock provides a device-agnostic and blockchain-agnostic protocol. This agnosticism should be highlighted, since it means that the protocol can be used by any IoT device and any blockchain, whether it is Ethereum, IOTA, or Hedera Hashgraph. As of now, even the most popular blockchain-based IoT solution provider IOTA does not offer this. IoTBlock’s other important key features include secure authentication, open auditability, and cross-chain communication. The protocol can be used for IoT device authentication, insurance and dispute resolution, device health and safety verification, and data exchange.

Thanks to the use of Ora Protocol, a truly decentralized network of IoT devices is made possible. By its proof of authority, nodes are incentivized to serve truthful data and report inaccurate or malicious data. These nodes are rewarded with tokens in return for their contributions to the network.

Token

Although very little information regarding the token’s use is released at the time of writing, for now, we can say that it will act as a native token to pay fees for platform services. It should be noted that it is emphasized that the token is looking for a stable price per token, which is quite reasonable if it is to be widely used.

No information on the IoTBlock token metrics or how the team is planning to use the token sale proceeds are released at the time of writing.

Team

CTO Michael Arbach: Arbach was a blockchain architect at KodakOne.

Sanjeev Verma: Prior to joining to AMD as a principal architect, Verma has worked as a mobile security architect at Samsung Electronics, a senior research engineer at Nokia and a member of technical staff at Bell Labs.

Richard Fushimi: Fushimi was the CEO at Rocket Internet SE, the president, and COO at Sega, and a managing consultant at Genpact Headstrong Capital Markets.

Leo Rong: Rong has worked as a software engineer at Splunk for over thirty months.

Advisors

Chad Pleper: Pleper was a senior infrastructure architect at Elsevier.

Tugrul Firatli: Firatli has worked as the vice-president of global communication practice at TIBCO Software, as a software engineer at Apple and as a member of technical staff at Bell Labs.

Rex Wong: Wong was a founding investor at Applied Semantics, the company who created AdSense and later sold it to Google in 2003.

Verdict

Below is a breakdown of the risks and growth potential of IoTBlock.

Risks

  • No information regarding token metrics is not released at the time of writing. This makes it hard to evaluate the project’s worth and any potential return on investment. (-1)
  • It is a reasonable assumption that the competition in the IoT sector will be harsh in the future. As more and more technology giants might enter the market, it is likely that they might leave the blockchain-based IoT companies like IoTBlock in the dust with their superior resources. (-2)

Growth Potential

  • All-star team members like Sanjeev Verma and Richard Fushimi. (+2)
  • The protocol’s device- and block-chain agnosticism. (+3.5)
  • The team’s origins can be traced to a hardware and RFID device manufacturer started in 2004. This shows that the team is highly experienced in the IoT sector and not just riding the blockchain hype train. (+2.5)

Disposition

The emerging technology of the Internet of Things is expected to be widely used in the near future. It is estimated that by 2025 the sector will grow to a value of $11 trillion with 75 billion devices. Its use cases are limited only by one’s imagination, but as in the case of any emerging technology, just like blockchains, there are several important problems to be solved to gain wide public acceptance.

Currently, 70% of IoT devices do not use encrypted forms of communication and 80% do not have a basic level of security. As devices in a certain place are connected to the same network, to gain unlimited access to one device is to gain access to the whole network. Some hackers’ gaining access to a thermometer in a fish tank and using it to steal a casino’s database earlier in this year is an example.

IoTBlock provides novel solutions to solve this issues. The team consists of all-star team members like Sanjeev Verma and Richard Fushimi. The protocol is designed in a device- and blockchain-agnostic way, so that IoTBlock can be used by any IoT-connected device and blockchain.

Still, no information on token metrics is released as of the time of writing, making it hard to evaluate any return on investment. Also, the competition in the IoT sector will be extremely fierce in the future and the entrance of more and more technology giants to the sector might leave the blockchain-based IoT companies like IoTBlock in the dust with their superior resources. IoTBlock receives a 6/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: Unspecified
  • Platform: Ethereum
  • Crowdsale: Unspecified
  • Minimum Investment: Unspecified
  • Price: Unspecified
  • Hard Cap: Unspecified
  • Payments Accepted: Unspecified
  • Restricted from Participating: Unspecified

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.

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ICO Analysis: EndChain

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Logistics is a series of transactions that link a product from raw material through to the consumer. The logistics and transport management industry generate approximately 13% of GDP globally. Current supply chain logistics models are good, but not great. They can be improved by blockchain technology.

EndChain is a new project based on Ethereum, which aims to disrupt the logistics industry through decentralization, open protocols, and utilities. They believe the best way to improve current systems is to eliminate almost everything except the scan of the package.  According to them, “Technology can be molded to handle the rest of the necessary steps and to fit the needs of all users wanting to access the data.”

From the whitepaper:

“While some companies have attempted to create blockchain solutions for modern logistical problems, no complete solution exists today. Current options revolve around expensive RFID chips or an overt reliance on consumer input. EndChain focuses on the entire logistics chain: from manufacturer to businesses to customer to reseller. The goal of EndChain is to become the blockchain solution that the logistics industry desperately needs by allowing one blockchain that is easy to use for all verticals of the supply chain.”

EndChain wants to reduce the cost of logistics by providing a blockchain that’s responsible for all the data across the supply chain. Their uniform blockchain lets businesses easily adapt and communicate with one another. Their system will cover each sector of the supply chain, including the second-hand market.

The entire Endchain system is based on the use of their patent-pending QR/barcode design. Each item produced in the EndChain supply chain is paired with a unique id that can be automatically registered on the chain. This id is the foundation of Endchain and ensures that every physical item is linked to its digital counterpart.

All businesses which use the EndChain software will be able to identify themselves as producers, transportation, B2B or B2C stores. Employees simply need to scan the code. That simple scan will break down both the generic barcode and the individualized QR code. The software then automatically updates the chain with the new data that can be seen by all users.

There are 2 major benefits to their QR/barcode combo:

  1. It simplifies the scanning process. Instead of 2 or 3 separate barcodes, logistics workers will only have one easy to read code, filled with all the data.
  2. The code will update both the blockchain and the legacy systems at the same time. This allows EndChain to easily integrate with legacy systems that may not want to completely change their current methods just yet.

Additional benefits:

  • Reinforce the Authenticity of product
  • Secure transactions and fast settlements
  • Visibility in the supply chain
  • Cost-effective
  • Route optimization
  • More info on the product and cheaper costs
  • Ownership history

Token

ENCN token is required to purchase QR codes, make smart contracts, and access the data stream.

Token burning: EndChain’s self-regulating economy burns 2-4% of tokens per transaction. It works by destroying  more coins if the current market value of the ENCN is low. If the value of ENCN rises, less supply is destroyed as fewer coins are required for each smart contract.

Distribution:

  • 55% ICO
  • 22% Future development
  • 10% Team
  • 5% Leadership
  • 5% Advisors
  • 3% Bounty and referrals.

Use of proceeds:

  • 60% Development
  • 25% Marketing/sales
  • 5% Legal
  • 5% Security and compliance
  • 5% G & E

Team

Team EndChain is a mixed group from all around the globe. 15 team members and 9 advisors are listed.

Aaron Perkowitz – CEO.  Since October 2017 until now he’s been a Fund Manager at HNA Group, a global Fortune 500 company focused on aviation, tourism, logistics and financial services. Other than that, he lists 3 internships; Morgan Stanley, AngelVest, and RocketSpace.

Pierre Angot – CTO. Paris, France.  A self proclaimed Artificial Intelligence and Blockchain maestro, co-founded Medway, a telephone medicine app with between 2-10 employees. 2 years Managing Director at WAGT Consulting. Currently a Data Consultant at Verteego.

Felix Engelhardt – Business Developer. Currently (8 years) an Analyst at Cimic Group Limited, a world-leading infrastructure, mining, services and  private partnerships group with over 1,000 employees.

Javince Chan – UI/UX Designer. Lots of experience specifically in UX design; Currently at Quadrant Studio, she’s also worked for Amazon (1 yr), AKQA (1 yr), and Symplicit.

It’s an impressive group of advisors, with specific skills they acquired from places like; Huawei, Cimic Group, Morgan Stanley, Audi, Uber, Activision and Blizzard.

Partners are highlighted below:

Verdict

“EndChain provides a complete and cost-effective logistics package that benefits all parties of the supply chain. While most utility tokens focus on high end goods, EndChain focuses on the low to middle market, an area that has been ignored for too long. EndChain is able to enter this market due to the ease and low price of our system compared to other utility tokens which focus on expensive NFC chips or manual entry.”

The current blockchain solutions for the logistics industry won’t work for the majority of goods. They are too expensive to mass produce, therefore, they focus on luxury goods such as handbags, diamonds, and art while the vast majority of market purchases are ignored. EndChain is working on a solution by making a cost-effective product that can be applied to all goods.

Risks

  • Ethereum Blockchain. -1
  • There is already a lot of blockchain competition, and all their token values are at all time lows right now. Demand is not currently here. -2
  • 3% of their tokens will go to bounty/referrels. These bounty hoes usually just dump their tokens as soon as they hit an exchange. -1
  • 50% presale bonus. Same thing as above. They will dump at the first sign of dumpage. -1
  • This will be really challenging to scale. -1.5
  • Unsold tokens may or may not be burned. When we asked them in Telegram, their response was, “Once we got a concrete details, Soon we will be having an important announcement regarding that matter, stay tuned.” -0.5

Growth Potential

  • The team has produced a very profession ICO, a patent pending scan system, and lots of work on GitHub. Here’s their CEO giving a quick explanation on the work they have achieved so far. +2
  • Their uniqe QR code incorporates a barcode within the QR code. This allows users to scan the only code found on the packaging. Businesses that still use a legacy system can scan the embedded barcode. +3
  • 2-4% of the revenue generated from sales will be dedicated to burning EndChain tokens. +4
  • They will give a percentage of ENCN tokens to tradition shipping companies for free, to recruit them to the blockchain. Once they see the benefit of EndChain, they will become valuable costumers. +2
  • One of the largest benefits of this system is that it can be done offline. Information isn’t being downloaded, only uploaded, therefore it can remain in the system until its fully loaded, no need to wait to scan the next item. +3

Disposition

The team is strong, the whitepaper is professional, and the roadmap is realistically detailed. The goal is to launch the full version in Q3 2020. If they raise enough money in this token sale, we like their chances more than most. 7/10

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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4.2 stars on average, based on 26 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: OATH Protocol

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OATH Protocol wants to build an analog of a decentralized dispute resolution system modeling the common-juror system. In their view, this will solve the solution to the blockchain governance problem.

OATH Protocol wants to provide a solution to the Blockchain Governance system.

In order to do this the company plans to:

  • increase the usability of smart contracts by providing an easy to use user-friendly smart contract creation tool
  • creating a decentralized jury community, comprised of members with diverse backgrounds and areas of expertise
  • invites users from all communities to not only provide governance for the dApp they support but also for other ecosystems.

The protocol’s main advantages include:

  • Trust – all data is hashed on a blockchain.
  • Confidentiality – all jury members data of confidential.
  • Dynamicity – protocol will ensure that different jurors will be resolving multiple cases to avoid a collision and ensure the integrity.
  • Fairness – protocol will ensure random jurors selection based on a variety of factors as gender, background, age, etc. to have full objectivity.
  • Incentive – a mechanism to motivate jurors for participating and assign them credit.
  • Autonomy – parties mutually set rules that they would be bound by.
  • Transparency – jury votes are disclosed to the community after resolution.
  • Archive – protocol allows keeping all data in a structured irrecoverable way.

Use cases include, but are not limited to, the following:

  • E-commerce, which involves a variety of disputes, such as quality problems, missing pieces, broken product, etc. OATH jury will resolve each dispute based on user-provided testimony.
  • OTC trade of digital assets.
  • Disputes involving decentralized property rent.
  • Decentralized moderation.
  • Oracle for betting.
  • public chain governance.

So basically OATH is a decentralized agnostic protocol that offers a solution to of decentralized governance to all blockchains and Dapps.

Blockchain architecture is highlighted below:

OATH Protocol is an agnostic blockchain which may be integrated into other Daps and public chains.

The chain contains two main files:

  • Case ledger, which includes all information such as contracts, verdicts, voting reasons, selected jurors.
  • IPFS (InterPlanetary File System), which is a network designed to create a content-addressable, peer-to-peer method of storing and sharing hypermedia in a distributed file system. It replaces traditional domain names with content addresses so that users don’t have to consider names and paths of file storage.

Token

The total token supply is: 10,000,000,000 ERC-20 tokens (OATH).

Token use is summarized below:

  • Engagement between participants/granting access to the platform
  • Internal currency

Tokens are earned as nodes, disputes resolution and community services.

Team

We see a well-balanced team with a diverse background in tech, business, and law. Yin Xu, CEO, won several awards for best mobile application.

Jenny Vatrenko, COO, is an influential lawyer and  former litigator at Boles Shiller. She is active on the group’s Telegram channel.

Hongwei Wang has a strong technical background, including eight years of combined experience at Google and other tech-focused companies in China.

On the advisor side, we see people from Zefund, Qidain Capital, Continue Capital, a founder of an EOS supernode and energy startup NAD. Advisors cover the main focus groups: technology, business and legal. Jia Tian is a notable advisor who worked at Baidu and Alibaba, and is a big investor in Bitfinex Dafeng Guo. Tian worked for big investment banks like Morgan Stanley and Goldman.

Zainan Zuo is another notable advisor who serves as a core developer at Ethereum, and is a main developer of the ERC-1202 standard for Ethereum.

Investors

Several notable investors from the VC and blockchain worlds are also worth mentioning. While most are medium-sized funds, Quarkchain is among them. Quarkchain was a top ROI project during the second quarter of this year. EOS Asia and NEM are also partnering with OATH.

Verdict

In general, the project looks interesting. The team has the necessary technical skills to implement the product. We see the support of smart money. The very idea of the product itself is exciting. The decentralized dispute resolution system, which can be used both as a means of resolving disputes between traditional subjects in arbitration and within a decentralized system, deserves interest.

Risks

  • The project does not have MVP, only active Github. -1
  • Low public activity. -0.75

Growth Potential

  • The strong point is that it is an agnostic protocol so that it can be plugged to any blockchain and provide additional value to that respected network with their service. +2
  • The overall idea is interesting. +1
  • Any user of any blockchain can automatically be selected as a juror for OATH dispute which provides flexibility and helps to get users on board. +1
  • The token use case is rather strong – parties must deposit tokens during dispute case and pay arbitrators for their services. +1
  • The roadmap is medium long. Although for this kind of project long-term potential will rise together with overall crypto field and decentralization. +1
  • Token metrics are on the good side. +1
  • Team, advisors, partners, and VCs have been verified. +1.5

Disposition

I would say that the project is above average, but one should wait for prototype and full metrics to make the full investment decision. Currently, the rating of 6.75/10 is warranted, though it may be further increased or decreased once the project is up and running.

Investment Details

  • Type: utility
  • Symbol: OATH
  • Platform: erc-20
  • Crowdsale: TBA
  • Minimum Investment: TBA
  • Price: TBA
  • Hard Cap: TBA
  • Payments Accepted: TBA
  • Restrictions Barred from Participating: TBA

General details:

Website – https://oaths.io/

Whitepaper – https://oaths.io/files/OATH-Whitepaper-EN.pdf

FB – https://www.facebook.com/oathprotocol/

Telegram – https://t.me/oathsio

Medium – https://medium.com/@oathprotocol

Featured image courtesy of Shutterstock.

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4.9 stars on average, based on 31 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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