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ICO Analysis: Kik’s New Token Kin

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To date, we’ve raised $120.5M from Foundation Capital, RRE Ventures, Spark Capital, SV Angel, Tencent (maker of WeChat), Union Square Ventures, and Valiant Capital Partners.

Translation:

We have acquired and mostly burnt off about an eighth of a billion dollars. We do not currently have a relevant revenue model, and our prospects for future funding rounds are not getting brighter as a result.

Then, in the Whitepaper, we get their excuse:

As a company, Kik has been searching for a sustainable monetization model that does not compromise user experience or privacy.

A Niche Token (Kin) Without A Promising Niche?

Kin’s Team

Great idea. Maybe it will make the platform huge. The trouble is, for this vision to work, the platform has to become huge. If a split minority of chat users are on Kik as opposed to the myriad of other options, then the actual utility and value of a Kin token are not going to be exponential, it’s going to have a cliff at best.

Rather than opt for mass display advertising or the selling of consumer data, Kik has decided to adopt a decentralized organizational model. Its goal is to encourage the development of a digital services ecosystem that is fair and open. Kik prefers to be a participant rather than a landlord in this user-first economy.

Translation:

We don’t want you to see us as rent-seekers.

Fine. So you want to create a system and act within it. Why then should it be a Kik system? In terms of cryptocurrency plays, a more broad-based strategy is going to have a higher chance of flourishing. You’ve already admitted so far in this Whitepaper that the base concept of your “currency” is to put your Kik Points system on the Ethereum blockchain. You can do that without a token sale. You can just issue tokens to Points-holders, and convert the system.

By creating a Kik-only token, you run the risk of an industry-wide token launching which serves all the rest. Therefore, from a consumer point of view, if (when) such a token were launched, it would seem more valuable from the very first moment, because it would not “lock them in” to a specific platform, although in this case by “lock in” we mean “require significant effort to exit.”

Kik seems to understand this, and they address it a few paragraphs later. They insist that creating an ecosystem of valuable goods and services is paramount, and then go on to say that Kin is intended as a general purpose cryptocurrency. Again, if this is the case, why tie it to Kik at all? Why not simply have Kik spearhead its adoption, but separate everything else, hoping that a consortium of industry peers join in? Would anyone you know prefer a gift card to a specific store or a Gift Debit Card that can be used at any store? Other companies will now have to overcome the “not-invented-here” syndrome, if any of them decide to integrate Kin at all. More likely, they’ll create their own alternatives, meanwhile, someone else will create a master token for all of them. Kik could have done everyone the courtesy of getting its peers on board. Tencent invested in them, despite offering a similar, competing project. Tencent’s involvement would already make this token more attractive if they were involved in this part of it.

In character, Kin is a pure cryptocurrency of fixed supply. It is fractionally divisible and long-term non-inflationary. However […] only a small portion of the Kin supply will become liquid in the near future, as most of the Kin supply is reserved for the Kin Rewards Engine. […] Like other cryptocurrencies, units of Kin are fungible and transferable, and they will be expected to trade on cryptocurrency exchanges.

Fine. Great. Newcomer, please understand: this does not mean a thing! Kin gets a full 4 points guaranteed based on Kik’s backing in terms of likelihood of trader profit, but this backing is also its biggest drawback. Further, the method of distribution is wonky. Let’s get into that now.

Kin Distribution – “Rewards Engine”?

As shown above, “most of the Kin supply is reserved for the Kin Rewards Engine.” That makes it requisite to understand what the heck the KRE is.

The goal of the Rewards Engine is to create incentives for digital services and applications that create vibrant services within the Kin Ecosystem. It will accomplish this by periodically unlocking a specific amount of Kin and distributing it among ecosystem partners, favoring digital services in which the Kin cryptocurrency is highly utilized.

So, you’re going to have a board of people (the Kin foundation) who get to decide where the funds are allocated, and allocation will focus on “digital services in which the Kin cryptocurrency is highly utilized.”

We can see what they are going for here, but the trouble is that this method still lacks significant incentive for the rest of their industry to get on board with Kin. Instead, it will propel more disparate services and services that are Kin-specific. The walled garden only gets higher walls with this model. The “open governance” terminology used here could be seen as a ruse – this is something akin (pun intended) to the iTunes model.

One of the most compelling features of Kik Points was that users were not required to purchase them. […] Instead, millions of mainstreamers were able to earn Kik Points simply by performing valuable actions. As Kik expands its economy to include cryptocurrency that holds real value both inside and outside of the chat application, the economic possibilities for users are vastly enhanced. This makes it possible to transform attention, curation, and creation into real-world value simply by having a smartphone.

Again, you’re not doing anything to create a real promise of “economic possibilities.” You are raising money from the crypto-economy, and you are creating a tradeable asset that could generate dividends for Kik users, but you have to trust that such services will actually arise. That people will actually trade Kin tokens. That a competitor who is universal in nature will not simply remove the brand-specific parts of Kin and usurp it. You have to trust all of these things to accept that there will be an expanding Kik-based economy. Facebook would have a better shot at it, as would Google or Tencent.

The Kik Saving Grace

Kik wants a warm and fuzzy economy where users can come in and provide value in exchange for Kin tokens. They want initial investors to underwrite this. And, for whatever reason, it will probably work. Beginning at the intangibility of cryptocurrency, everything in this market is topsy-turvy. There is no reason to suspect that Kik will fully fail, at least not in the same way that some ICOs do. The token’s chart will not be a vertical line, but a short-term gain can probably be taken before later price rises, as the token gets added to exchanges.

In China, many daily goods and services are paid with mobile technologies, and one of the biggest ways of doing this is through WePay. Given its corporate nature and industry interest, Kik could certainly make this happen in the US with its Kin offering. One can imagine checking out at a Millenial-specific shopping outlet like PacSun for example using kins on their smartphone. This real world utility will always lend value to a given token.

Of course, Kik doesn’t note such a vision in its whitepaper. Their vision is all digitized, meaning we’re likely to get what we’re paying for here: a weak answer to a big opportunity.

Nevertheless, we need to be objective. Just because the author thinks this is an undercooked, badly executed idea, does not mean that those who are executing it are going to fail. The winds of the market will likely carry this one.

Kin Distribution and Fundamentals

In order to finance the Kin roadmap, Kik will conduct a token distribution event that will offer for sale one trillion units out of a 10 trillion unit total supply of Kin. The proceeds of the token distribution event will be used to fund Kik operations and to deploy the Kin Foundation.

What did you just say?

Kik is openly admitting here that they are not solvent, despite raising many millions of dollars! Here is the size of their team:

Kik has not yet undergone an initial public offering, so the details of their finances are unavailable. What we do know is simple math. Less than 100 people, more than $100 million, less than ten years. Something is not right here, but that’s beside the point. The point is that Kik is dipping into the honey pot here and quite flagrantly. Companies must provide value to the economy or fade away. What we see here is a company which normally gets its free money from those who have large supplies of it, attempting to do the same from those who have smaller supplies of it.

1 trillion coins enter the economy, and these coins can be traded openly in exchanges. Whatever value they hold on such exchanges will be tempered by a 90% plus-minus based on the murky, unavailable supply. The open governance model is meant to answer these concerns, but it really doesn’t. Let’s see what we have in terms of reassurances:

As of the conclusion of the sale, the distributed Kin will constitute the entirety of the available liquid supply. Another three trillion Kin will be preallocated to Kik as the founding member of the Kin Foundation and subject to a long-term vesting schedule. In exchange, Kik will provide startup resources, technology, and a covenant to integrate with the Kin cryptocurrency and brand.

Again, none of this matters. It all contributes to the same problem we’ve identified: the entire concept relies on Kik encompassing a huge swath of communication preferences, much larger than it does today, in order to not be dwarfed (by virtue of network) by something superior.

Using Hype Bubbles to Our Advantage

So it’s clear by now the author is not a big fan of this idea. That doesn’t mean we can’t make money from it. Truth is, if Google or anyone else were doing the same thing, we’d still see the same problems, but the idea of user attrition would be lessened since virtually everyone already has a Google and Facebook account.

Kik is dreaming big and that’s great for them, but investors need to take caution in calling this a long-term hold. Hype bubbles are carried purely on the steam of those who stand to gain from them, so after a time, that steam will dissipate, and downward pressure will latch onto the token like an octopus. As such, if you’re going to go in on Kin tokens, get out while they’re still actually liquid.

The Verdict

This rating is going to confuse some people, so let’s clarify why it’s so high. As stated earlier, although the rating system here at Hacked is still in development, we generally lend some free points if big outfits are behind something. Their potential for failure is lessened by virtue of experience and rescue capital, and being known entities, they have more on the line than those not even in business yet. As such, Kin gains 4 base points for being backed by Kik.

Being the first of the chat apps to achieve this in a pure cryptocurrency way earns it 2 novelty points. A quarter-point is deducted from this for the ease with which another platform could precisely copy the entirety of their platform.

Kin gets another 1.5 points for hype value. The odds of being able to actually achieve ROI if you are cognizant and attentive are significantly higher than other ICOs as a result of the widespread hype – panic selling is done with greater caution when so many good, promising things are said about a token.

The author allows a full point for his own instinct and lends .25 from this reserve, out of the belief that those who truly want to will manage to take profit from this investment.

4 + 1.75 + 1.5 + 0.25 = 7.5.

Investment Details

Kik has decided to be mysterious about the actual launch of the token creation event. They have a mailing list, and that’s about all the information that is available:

A supply of 10 trillion dictates the on-boarding cost will probably be low, but, again, there’s little to no details on that. We’ll have to update you on that. As the community manager says above, if you want more information at investment time, you’ll have to subscribe.

Featured image from company presentation.

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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2 Comments

  1. cryptoverde

    June 28, 2017 at 8:21 pm

    appreciate the review

  2. virtualevil

    September 2, 2017 at 3:44 pm

    THIS, is the value I get from being a Platinum member. Just as I was losing faith I come across this excellent review.

    Thank you for analysing this to the level you have, I must say I was deep-diving into a lot of the hype. A lot of it checks out, but now I think I am of a similar opinion to yours that this is likely a short term gain prospect.

    Can I ask will you be giving some buy/sell recommendations on this if this is indeed an opportunity to profit?

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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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