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ICO Analysis: Supercomputer Organized by Network Mining (SONM)

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Networked resources have long been a profitable corner of the technology market. Some of the largest online services today are in storage, content delivery management, and large-scale processing. Today, the brunt of the web’s work is conducted by a few major, centralized corporations, including Amazon, Digital Ocean, and Oracle, all of whom profit handsomely when start-ups and others go to them for hosting, processing, and more.

These corporations are able to offer affordable rates through scaling. But what if the scale was market-driven, infinitely expandable and downsizable, and could be contributed to by most devices in the world? And what if you, the daily user, could sell your unused computing resources to a massive decentralized network in order to offset your broadband and other costs, or even to profit? That’s the idea behind the Supercomputer Organized by Network Mining (SONM): a global, decentralized, incentivized cluster of computing power, and one of a few promising plays in the distributed computing market.

The SONM token will be the currency of the Supercomputer, although users will be able to enter the economy with virtually any other payment method, at which time their tokens are immediately converted at the market rate. Then there is a market as to the offerings of providers, the cost of the services, and the like.

SONM will have utility for all types of users, from everyday gamers who want alternative, inexpensive global networking for their gaming (such as the tournament they are running on their platform beginning next week) all the way to tech start-ups, and even Google, Amazon, and the others who may see it as a good way to quickly expand when demands from industries call for it. Although, eventually, it would seem, their centralized model will fall to the decentralized mode. This is the arc of most networked technology, anyway, but there would necessarily be a long period of co-existence. As Professor Ozan Onay recently wrote,

Use of large scale dataflow engines like Hadoop and Spark can be particularly funny: very often a traditional DBMS is better suited to the workload, and sometimes the volume of data is so small that it could even fit in memory. Did you know you can buy a terabyte of RAM for around $10,000? Even if you had a billion users, this would give you 1kB of RAM per user to work with.

SONM will create a corner of the market where the cost of these resources is drastically reduced, distributed amongst many providers, and tailored better to the needs of the customer. SONM and other efforts like it will lead to industry-creating and shifting dominance factors – meritocracy can return to Silicon Valley with a vengeance in terms of service offerings. A small effort can forego a drawn-out funding process and get off the ground with private equity with greater likelihood when the cost of resources can be dropped double-digit percentages.

Moreover, SONM, or an effort like it, will create economic activity all throughout the chain. It will raise any ship it comes into contact with, including currencies it is tradable for, like Bitcoin. People with little means but lots of merit will have renewed opportunities to provide for themselves.

All of this sounds quite utopian, perhaps overly bullish for an analyst, right? Well, that’s because it’s just around the corner.

[…] we are referring to decentralized organizations of computing machine resources, and not decentralized human organizations. Most of the data in the current IoT state of development is being processed by private centralized clouds – i.e. using cloud technologies, like AWS, Microsoft Azure, etc. [… ]Centralized cloud technologies have several weaknesses and can’t be used in [Internet of Everything].

SONM is underpinned by what they call SOSNA:

SOSNA is a global operating system built on the nesting doll principle. It is important to understand the structure of SOSNA in order to internalize this concept. Let’s go from the end-user application to outer-layer infrastructure. SOSNA itself is a top layer envelope that works with the Grid-core (BOINC, Yandex.Cocaine/ Other grid-compatible PaaS) and the infrastructure of SONM smart contracts.

Lots of buzz words in there, but the gist is this: SOSNA makes the the whole thing work. It’s SONM’s blockchain, in a way, and is built from other components.

How the SONM Market Works

Fog computing or fog networking, also known as fogging, is an architecture that uses one or more collaborative multitude of end-user clients or near-user edge devices to carry out a substantial amount of storage, communication, control, configuration, measurement and management.

Anyone with a desire can commit resources to SONM and receive SNM tokens from whitelisted gateways which are called “hubs.” These hubs pay a .5% fee for the privilege, and part of this fee is redistributed to all of the token holders at the end of each month.

Users can deposit a multitude of currencies, which are then converted to SNM tokens and then used to buy resources. This method of on-boarding allows for a more unified value figure to emerge, but external trading is bound to pick up additionally, which could make some pairings less appealing than others at various times. It may be that the most common way to on-board with SONM will be credit cards, just like any other computing rental situation. That this does not negatively effect the value of the SNM tokens themselves, but rather buoys them by having tertiary metrics to measure them against, is a nice feature of the system.

According to the Business Overview,

The wider the usage of SNM tokens for computational power purchases, the higher will be the market demand for the token on exchanges, and the higher the price in comparison with the initial ICO price.

SONM Team

Sergey Ponomarev is the genesis of the global operating system concept and SONM. One of his handles is JackBekket, whose Github page lists a few cryptocurrency-related projects. One of these is an Ethereum escrow smart contract.

At the helm of the important parts of SONM is someone with the right stuff. Anton Tiurin still works as a senior software developer at Yandex, on the Cocaine project, which is used in the SONM project overall. This experience and placement in the regional software development community (so that he can tap other developers when need be) is a big plus to the project. The right people for the right job cannot be stressed enough. Tiurin is highly active on Github, where he maintains several repositories for Yandex and himself personally.

The whole of their actual development heads have more competancy than several other ICOs we’ve reviewed combined, looking over their achievements and contributions to software. Most seem to be on the innovative side, such as Max Taldykin, who is working on “provable off-chain Ethereum calculations.” If any points are deducted in terms of the software here, it will not be due to a lack of faith in the skills of the team in question.

The Verdict

This is one of the most ambitious, interesting, and promising ICOs we’ve seen in recent times. The token itself is just a vehicle; the platform is what matters in terms of the token’s value. Timing is everything, and the demand for decentralized computing services is going to exponentially increase, well, forever. As more and more millenials enter the job market or start businesses, technology will increasingly become the world’s foremost human-involved industry. As such, the market for less expensive big boy resources will expand with each graduating class. If they were trying to launch this around the time that AWS started taking on more non-enterprise customers or DigitalOcean was launched, they probably would have been too early to the game.

The profitability of the token will rely on the platform, but the platform has good odds of success. In their business overview, SONM addresses the question of how they will ensure their own solvency:

The SONM project, according to the criteria of the classical business, will operate without profit until the project reaches the planned capacity. Capital attracted in the ICO will be enough until at least 2023. […] Thus, the risks associated with the possible bankruptcy of the operating company SONM are eliminated. If the token is not fully bought out during the ICO, the project’s financial security boundary is 60% of the planned volume of placement (156 thousand tokens). In accordance with the DDM model (Dividend Discount Model) with a token price of $ 0.14, it will be 6% more than the price of the token on the ICO. The token price calculations are conducted without taking the speculative influence into account.

So long as the SONM itself is around, regardless of token value, your tokens will have utility. There may be times when you can get more value for the tokens than you could sell them for at market. But the likelihood of you ending up with completely worthless tokens by going in on this ICO is comparably much lower in the spectrum of things. For this reason we are giving the SONM project a 9 on the 0-10 scale of ICO investment safety. The good news for those that want to watch and wait is that SONM will not be the last play in this market. Those looking for a good play in distributed computing can either try this one or wait for an improved version of it to come along.

Disruption is the nature of technology. Technology disrupts nature, after all. The disruption of the cloud computing market by the introduction of fog computing alternatives will be a kingmaking, interesting time for the IT world.

Investment Details

Coinciding with the public test of the platform the SONM ICO will launch on the 15th of June. A formula was used to determine the price of SNM tokens, and the base rate being given on the site is 636 SNM per Ether invested. Bitcoin and direct deposit will also be accepted, and altcoin users can use Shapeshift to facilitate Bitcoin investments.

The ICO will run until July 15th, and based on the percentage of SNM already sold, a bonus is available for early birds. For example, those who buy before the first 10% are sold will receive a bonus of 15%, so 731.4 SNM per Ether invested.

20 million tokens will be withheld from sale and kept with the SONM Decentralized Autonomous Organization. These tokens will be used to award employees and also formulate SONM’s voting power in the DAO. SONM is looking to raise a maximum of around $63 million given the current price of Ethereum, and it will use the funds in this way:

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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9 Comments

9 Comments

  1. thermits

    June 10, 2017 at 8:29 pm

    Interesting seems this will be the decentralized version of SpatialOS https://improbable.io/games

  2. thomashall

    June 11, 2017 at 10:37 pm

    How does SONM compare to Golem and the general competitive landscape for decentralized computing power?

  3. demetrist

    June 12, 2017 at 7:15 am

    Thank you for the analysis, was wondering how this project compares to golem project?

  4. elminv

    June 14, 2017 at 8:26 am

    Yeah would love to hear how it compares to golem, any thoughts anyone?

  5. gxd01

    July 22, 2017 at 3:52 pm

    Hi, I just became a member of your site – and noticed this is your highest rated (and now closed ICO). Now it’s out do you still feel the same about it? From what I can see 1ETH was 2824SNM, and now 1 ETH = 5600 SNM on the market. Is Iex.ec or golem better?

  6. jimison

    August 10, 2017 at 7:11 pm

    Could you please update this analysis?!

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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.

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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