ICO Analysis: nOS

nOS is an upcoming NEO ICO that the nOS team describes as the following:

Think of nOS as an app store and web browser, a virtual operating system, with the ability to access a new, decentralized internet. On this new internet, apps work transparently and openly. Your data is safe, and it only goes where you want it to go.

nOS will be a user-friendly platform available for both desktop and mobile.

See What Dapps are Doing with Your Data

The websites and decentralized applications (Dapps) that choose to host their content on nOS will be hosted in a transparent manner using NEO smart contracts that will give end-users full insight as to what goes on with their data since the smart contract code will be unchangeable and hosted publicly on the NEO blockchain.

Platform Easily Usable with Different Tokens

Although Dapps may use different NEP-5 tokens (NEO tokens – the Ethereum parallel would be ERC-20 tokens) end-users only have to worry about using the NEO utility token, GAS, since nOS will automatically convert GAS to the appropriate amount of NEP-5 token(s) needed for any given transaction.

Easy for Developers

For developers, nOS will have a Universal Smart Contract (USC), which will hopefully make developing on nOS easier (platforms like Ethereum often pose a barrier to entry because of things like unfamiliar programming languages). The USC will have popular Dapp back-end functions, such as Authentication and CRUD.

Minimum Viable Product (MVP) Available

Although details on the nOS token sale are sparse, something great (amongst other things that will be explained) about nOS is that it already has an Minimum Viable Product (MVP) client that developers can play around with on Github.

Unlike some other “MVPs”, which are actually just “Proofs of Concept” that don’t do anything, you can actually build nOS apps on your own NEO Privatenet. The nOS team plans to release a Testnet soon for users to interact with nOS Dapps.

Token

As for the nOS token, users can stake it to gain voting power on nOS’ platform. Users will be able to vote for high quality Dapps to make them more discoverable by other users. Simultaneously, low reputation or quality Dapps will be less visible and users will be protected from them.

nOS is planning on having their token sale in Q3 2018.

Developers who contribute (code) to nOS or build nOS Dapps will receive whitelisting priority for the public sale. Those interested in contributing or building should join the nOS Discord server.

Team

Although details on the nOS project are incredibly sparse right now (e.g. no whitepaper released or token sale date announced), part of the reason why this project is so hyped up is because of its team and advisors.

CEO and Founder Dean van Dugteren is a developer at City of Zion, which is a very high-profile group of NEO developers with projects like NeonWallet, one of the most popular NEO-based wallets.

Lead Developer Matt Huggins is also a City of Zion developer. In fact, he is the maintainer of the NeonWallet.

Other members include Jeroen Peeters (Developer & Project Management) and Maurice Dalderup (Full-stack Developer), both of whom are contributors at City of Zion as well as creators of Neoblog, a NEO-based blogging platform.

Advisors

Advisors include Roger Lim, Founding Partner at NEO Global Capital, which is the investment arm of the NEO Foundation itself (NEO Foundation oversees NEO). NEO Global Capital tries to encourage growth of the NEO ecosystem by supporting promising NEO-based projects. For example, they have supported Ontology, a huge project in and of itself.

Mr. Lim has been advisor to several high-profile ICOs himself, such as Bluezelle, QLink, Tomochain, and more. Some of the projects he’s advised have went on to do very well so his expertise will definitely be valuable in the months and years to come.

Verdict

Below is a breakdown of the opportunities and risks facing the nOS project.

Risks

  • Though nOS is an extremely hyped project, as mentioned, details are quite sparse right now. Specifically, token economics and token sale metrics haven’t been explained in detail. Those factors could be potential deal breaker(s) if they are unfavorable towards public sale investors. (-0.5)
  • This is more for the long-term but how will the team get people to use nOS (and subsequently buy nOS tokens to gain more voting power on the nOS platform)? It’s one thing to build a great platform, but another (difficult) thing to get people to use it. Though this isn’t a huge concern considering the team’s experience building up NeonWallet and the backing they have from NEO. (-0.5)

Growth Potential

  • Extreme hype – rapidly growing social media channels (e.g. Telegram), etc. Provided that the token economics and/or token sale metrics aren’t terrible, nOS should at least be good for a short-term flipping opportunity. (+2)
  • Very strong team that has relevant experience building NEO-based projects that lots of people like and use. (+2)
  • Backed by NEO. (+2)
  • A minimum viable product that can actually be used to build Dapps. (+2)

Disposition

Although the nOS ICO is in its early stages (date not even announced yet let alone token economics and token sale metrics), the project has huge potential due to hype that stems from its team and advisory board. NEO-related projects like Ontology have done extremely well in the past. We highly recommend keeping up with the latest nOS announcements for information on the public sale. As a result, nOS receives a 7/10.

Investment Details

  • Type: Unspecified, presumably NEP-5 – Utility
  • Symbol: Unspecified
  • Platform: Unspecified, presumably NEO
  • Crowdsale: TBA
  • Minimum Investment: Unspecified
  • Price: Unspecified
  • Hard Cap: Unspecified
  • Payments Accepted: NEO/GAS
  • Restricted from Participating: Unspecified

For More Information

Featured image courtesy of Shutterstock.