ICO Analysis: Path.Network (PATH)

PATH is leading the way to revolutionize the uptime and monitoring services industry by utilizing blockchain and smart contracts. Performance monitoring and uptime are very important to internet-based companies. It is imperative that companies are notified immediately when their service is interrupted or if there is any downtime so that a solution can be implemented as soon as possible. One of PATH’s goals is to create a network of monitoring nodes around the world consisting of thousands if not millions of independent decentralized minor nodes.

PATH is creating a foundation for anyone to share their unused bandwidth with others who need up-time or monitoring services while earning tokens. PATH mining nodes will be available to use on a computer browser plugin, cell phone or Linux operating system. The PATH mining node is considered a light-weight browser plugin that allows users to generate tokens surfing the web.

The main competitors to PATH are traditional companies such as Thousand Eyes, Pingdom, StatusCake, and Luminati. These companies must build their own monitoring services infrastructure, which is very expensive and limited to hosting on data centers. Luminati is the only one using computers and mobile IPs to gather information at this time, but they are extremely expensive, and their users must run their services on peer to peer VPN which opens them up to possible complications.

Token

Clients will be able to access services using the ERC20 PATH token. Clients requesting monitoring services will use PATH’s online panel by exchanging PATH tokens for requested services. PATH mining nodes will take care of the job and be paid with PATH tokens when completed. The completed monitoring service information will be forwarded to PATH’s database which clients can access through the online panel.

The major percentage of token fees will be paid to mining node owners (individuals renting out their spare bandwidth and computational power) with a minor percentage paid to development and support. Node owners will basically act as miners and be compensated with PATH for their network support. Owners will be paid for their individual work as they complete monitoring jobs that are issued by paying clients. Unlike other blockchains, mining will be rewarded for sharing bandwidth and computing power (i.e., performing jobs).

The price of PATH will be $1 USD per token with 240 million PATH available for purchase out of a total supply of 400 million. The hard cap has been set at $47 million. The private sale began on March 23, 2018, followed by the public presale on April 13, 2018, and crowdsale May 1, 2018. Path will be giving away 1 million tokens to their Telegram members via airdrop. All PATH tokens will be distributed at the end of the TGE with tokens issued to the founders locked for six months.

The token distribution is as follows:

  • 60% Token Sale
  • 20% Company Reserves
  • 10% Team
  • 10% Advisers

The funding distribution consists of the following:

  • 30% Core Development
  • 30% Operations
  • 15% Security
  • 10% Legal
  • 10% Marketing
  • 5%  Contingency

Team

Path.Network is led by CEO Bryant Townsend, a serial entrepreneur, cybersecurity industry leader, and founder & CEO of BackConnect, Inc., and Marshall Webb, an information security expert who has been featured on Reuters, Politico and CNBC, and is a three-time award winner of government-sponsored bug bounties.

The team is highly technical, bringing experience and expertise from companies such as Deloitte, Acer, AK Steel Corporation, PwC and the FBI. To help ensure success for Path.Network, they’ve brought in eight all-star advisers including infrastructure adviser Shawn Zandi – Principal Infrastructure Architect for LinkedIn and marketing adviser Brian Evans, founder of Influencive.com, the 25th fastest growing advertising/marketing agency in America. He is also ranked one of the top influencers in the world on Forbes, and CMO of ShipChain. All team members and advisers are listed on the official website along with their LinkedIn URLs.

Verdict

Path.Network is smartly releasing a beta prior to the crowdsale. The public beta of Path’s first mining node browser plugin is scheduled for launch on March 28, 2018. Pre-approved users will be given access to use the service during the beta period, which should provide excellent feedback on future potential and the possible success of Path.Network. Additional services are to be added in the future as the network grows such as Synthetic Interaction Testing, Page Speed Monitoring, DDoS Attack Reporting, and CDN Performance. Mass adoption and implementation can be tricky, however, Path.Network appears to be on track for success.

Risks

  • A $47 million market cap is considered high in today’s ICO market and could deter some potential investors. -2
  • There is a six-month lockup period mentioned for founders, which is a positive. However, there is no lockup or vesting period mentioned for the private sales, which almost always receive a discount or bonus. Investors may be weary of some of these tokens being dumped on the market when added to exchanges. -1
  • There are a lot of moving parts to this concept. The entire idea depends on users adopting this idea for it to work. Convincing users to share their bandwidth may be the biggest obstacle Path needs to overcome -1

Growth Potential

  • Launching the beta on March 28, 2018 should give potential investors more confidence in the project. An ICO has a much better chance of success with a prototype or MVP versus those basically selling an idea. +4
  • The team at Path.Network is solid, and the advisers are all top-notch in their respective fields. The combination of experience, expertise and technical skills of the team and advisers provide what’s needed for Path.Network to succeed. +3.5
  • Once Path.Network is up and running, their competition will be lagging far behind giving Path a competitive advantage. +2.5

Disposition

Path.Network is positioned to be competitive out of the gate as long as they hit their milestones listed on their detailed roadmap in whitepaper. They have an excellent concept, solid team, multiple all-star advisers and a beta scheduled to be released soon. There currently isn’t much hype around this ICO which could make it one of the sleepers that go big in 2018. Path.Network receives a 7.0 out of 10 rating.

Investment Details

  • Symbol: PATH
  • Type: Utility
  • Price: 1 PATH = $1 USD
  • Max Sale Issuance: 240,000,000 PATH (unsold tokens will be destroyed)
  • Total Supply: 400,000,000 PATH
  • Token Sale Hard Cap: $47,600,000 USD
  • Private Presale: March 23rd, 2018
  • Public Presale: April 13th, 2018
  • Crowdsale: May 1st, 2018
  • Payments Accepted: ETH
  • Jurisdictions Barred from Participating: None stated

For more information regarding Path.Network:
Website: path.network
Telegram: t.me/pathnetwork
Twitter: twitter.com/pathtoken
Facebook: facebook.com/pathtoken/