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ICO Analysis: Tezos

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A spate of new blockchain-based technologies are getting support from bigger names. Tezos is among them, having received vocal and financial backing from Tim Draper, the famed billionaire who bought a massive stack of coins from the federal government at auction following the Silk Road seizures. A Hacked reader asked us to take a look at this new venture, which will be Tim Draper’s first ICO – having previously been skiddish about such things due to their high likelihood of failure. Of course it makes sense that traditional financial people will be weary of ICOs, for they are even less likely to become unicorns than are the most crackpot ideas thrown at venture capital firms.

There is but one true unicorn in cryptocurrency to date, and it had to grow into such. It goes by the name of Bitcoin and you may have heard of it. There are those who believe it has over-leveraged its first-mover advantage, and those who believe its growth has only just begun. It is, though, a good thought experiment to wonder what happens when real money gets behind something from the very beginning. Unfortunately, we’ve seen this before, and before we dig too deeply into the ideals, technology, and purpose of Tezos, we must go through a short history lesson on something called Maxcoin.

Max Keiser is a legendary advisor, veteran trader, and in some respects a financial guru. He was an early supporter of Bitcoin and frequently talks about it on his television show, The Keiser Report. During the first real altcoin rush (~2014), Keiser backed a coin called Maxcoin. Keiser leveraged his audience to promote the coin, claimed that the coin would see a $20 million market capitalization, and then, one day, after a serious pump, stopped talking about Maxcoin altogether. Today, Maxcoin enjoys just under half a million dollars in market capitalization, almost no community, and probably no actual liquidity in that figure. In essence, despite the backing of a rich guru who has a large crypto and traditional financial audience, Maxcoin went precisely nowhere. Keiser once said:

I’ve said all along that my mission, if you will, is to put the tools of free markets into the hands of people, so they can empower themselves.

This was an interview with the Daily Dot, during which he put most of the responsibility for MaxCoin on the heads of the developers. However, they developed the coin with an eye toward Max Keiser from the beginning.

Contrast this with Tim Draper’s recent interview with Reuters, in which he said:

Over time, I actually feel that some of these tokens are going to improve the world, and I want to make sure those tokens get promoted as well. I think Tezos is one of those tokens.

All of this is to say: simply because a smart financial magnate and/or legendary trader supports something, it is not a guaranteed success. Satoshi Nakamoto was anonymous, after all, and one bitcoin is worth many million Maxcoins.

Tezos

Tezos is a decentralized blockchain that governs itself by establishing a true digital commonwealth.

Reading their overview document, it seems that part of the problem they aim to solve is that of politically-charged debates like are currently ongoing in the Bitcoin world. On a daily basis, people on both “sides” of the argument make vitriolic and often inane statements about people on the other. While people may interpret the recent price spikes in Bitcoin as some sort of reward for “holding the line” or what have you, a longer view would suggest that big money is really waking up to the realities of cryptocurrency.

According to the same document, the base idea for Tezos was originally floated in December of 2013, and work began early the following year. It also rightly points out that the current situation amounts to “core” development teams being charged with too much power and responsibility over the future of potentially large scale economic systems. It is arguably the one drawback of the cryptocurrency world: whereas central bankers are ultimately accountable to their subordinates as well as powerful governments, “core” developers are essentially answerable to none, and when rifts occur, they can go on for a long time.

In the case of pioneers like Bitcoin and Ethereum, those challenges have manifested themselves in situations that put too much power in the hands of core development teams or miners.

As Ryan X. Charles sarcastically says, the fourth commandment of Bitcoin Core is:

We have consensus that consensus should be on the list somewhere, but we do not have consensus about where. #4 is the least contentious positioning.

The Tezos team spent a lot of time assessing and addressing the problems of Bitcoin, Ethereum, and beyond. Novelty is important when it comes to releasing new technology, especially financial technology. People will tend to stick with the known and tested unless there is something radically different about the newly offered alternative. So what is novel about Tezos? Well, in their own words, self-governance. But how does that work?

Tezos is earning huge points with the author for the following:

[…] first generation blockchains tend to empower, de facto, centralized core development teams or miners to formulate design choices. Tezos takes a fundamentally different approach by creating governance rules for stakeholders to approve of protocol upgrades that are then automatically deployed on the network.

Ethereum and others sought to address this problem by allowing anyone to create a token with its own rules of distribution and usage. Tezos is even more open than that because 1) it can do that too and 2) further expansion can be added later with a suggestion and a vote by the stakeholders.

Tezos also takes lessons from failed initiatives that have tried to do some of what it is doing. Its Smart Contract language focuses on “correctness” and its initial version avoids some of the problems already experienced by smart contract languages in the past.

At a technical level, Tezos’ design intends to thwart networking problems such as denial-of-service attacks through a resilient approach to peer-to-peer connectivity. From the whitepaper:

To protect against certain denial of service attacks, the protocol provides the shell with context dependent bounds on the size of blocks and transactions.

There are other notable differentiations with Tezos. One is that inactive addresses will not be able to stake coins. It appears in the original rendition of the whitepaper, inactive addresses would simply be destroyed along with their coins – an interesting if extreme way to limit supply. Eybrow-raising at first, the concept makes a lot of sense by comparison to more traditional staking coins, which continually reward older addresses in perpetuity. Although some proof-of-stake systems have mechanisms to deal with inactive older addresses, limiting of supply has never been a priority for PoS systems and does not, either, appear to be such for Tezos. This is not necessarily a negative factor.

Who Is Behind Tezos

While mass media credit the husband-wife team of Arthur and Kathleen Breitman, both with backgrounds in institutional finance, they are not solely to credit for the work being done. In the overview document, Gordon Mohr and L. M. Goodman are credited with the spearheading of the thought leadership. (Mohr once worked for Archive.org and Goodman comes from good, legitimate crypto-anarchist stock).

The launch of Bitcoin XT is also credited with fomenting the governance aspects of the project. This is a de facto nod to former Bitcoin developer, thought leader, and founder of the first Bitcoin faucet, Gavin Andresen, who with Mike Hearn founded the alternative implementation of Bitcoin in an effort to sidestep the “blocksize debate” which remains ongoing and has now devolved into a disgusting politicized mess of competing solutions.

As for Kathleen and Arthur Breitman, both actively identify as crypto-anarchists, a long-standing tradition of people who believe that technology should set people free and that cryptography is the best way to ensure this (to overly simplify the philosophy). They actually met at a gathering of such in New York City and fell in love shortly thereafter. They own and have to date funded the company which is primarily developing the technology for Tezos at present, Dynamic Ledger Solutions. This means they bear more than a short mention, but it is worth reiterating that part and parcel to the concept of Tezos is that they can easily be replaced by competitor development firms and others with a simple vote of the stakeholding class in the Tezos economy.

Kathleen appears to be less technical in nature, more financial, which is not a liability in any sense, for despite all the over-glorification of Bitcoin developers, it is the users, investors, and miners who have kept the thing going over the years despite attacks by world governments and traditionalist financiers. Arthur, on the other hand, has some interesting stuff on Github. One of the things he has there is a Python script called Vectornet which “introduces vector valued neurons of symbolic length n, and a dot product in an attempt to learn efficient gradient descent algorithm for small problems that will generalize well when used on very large problems.” High-level problem-solving like this is the kind of work you want to see in a leader of a project such as Tezos. To be blunt: it’s really neat.

Also working on the project are a number of experienced developers, including Guillem Rieu, who wrote his own wiki software and has worked on parts of the Ripple project.

Most successful businessmen will tell you: finding the right people for the right jobs is one of the most important parts of leading. The Breitmans seem to be doing this in good style, and the open nature of the platform will only attract even more potent and useful talent in the future.

The Verdict

The author came into this with a very, very skeptical view. Hype bubbles are the worst and often the most damaging cautionary tales in investing happen as a result. Yet, having reviewed the whitepaper and other requisite documents, it’s hard to disagree with Tim Draper: Tezos could definitely make the world a better place. The Breitmans, who have openly credited those who deserve credit and identify with a philosophy of absolute freedom as well as aiming at a democratic platform which will never experience the road blocks to expansion and scaling we are seeing in Bitcoin and will eventually see in similar platforms, not only have their hearts in the right place, but they’ve put their money where their mouth is and have designed a platform which solves far more problems than it could potentially create.

One drawback is that they do not intend to cap the coin supply. Limited supply is part of the high value of Bitcoin and gold alike, but it is not the only value-creator out there. (Ethereum also did not limit the number of ether initially introduced into the ecosystem, and they are currently valued near $100.) The actual initial supply of coins will be based on public interest, rather than a set figure. This is in contrast to other ICOs, where often part of the remainder of the initial offering are returned to the development team and second rounds are offered and such. Instead, initial supply will be based on demand (awesome) and future coins will be created through staking. Later changes to the ecosystem can be made with the governance protocols of Tezos, so nothing is set in stone – perhaps the truest implementation of a decentralized vision to date.

As such, the author is prepared to give his highest safety rating yet: a solid 8.7 on a scale of 0 to 10. Much of the reduction from 10 here is based on the private presale that took place last year as well as the above noted potential problems. The recipe is there, a failed execution can be recovered by outside parties with interest in doing so (perhaps funded by Tim Draper, if need be), and the spirit of Satoshi is alive and well within the founders.

Investment Details

The initial cost of each Tez, the base token, is intended to be around one cent each. It seems the initial funding goal, therefore, was 10 billion cents, or $100 million. Instead, there will be no specific goal, and development will continue regardless of the amount raised. Coins will subsequently be distributed to the world through the sale of them at exchanges, one assumes, because in order to recoup at least their initial investment, investors will need to sell coins. Every “cycle,” which is defined as “about three months” and is based on a mathematical formula, interest of ꜩ512 will be awarded to staking stakeholders who have the requisite amount of coins to mint blocks (ꜩ1536). This will happen every minute or so, and any staker has a chance of minting the next block.

The Tezos Foundation, which is separate from Dynamic Ledger Solutions and is based in Switzerland, will oversee the actual crowdsale which begins on May 22nd, 2017. While the original idea was to raise a penny per ꜩ, the crowdsale price will actually be ꜩ5000 per Bitcoin – today that means a price of about 36 cents each. You can buy as much as you want. If you want to stake, you’ll need at least 1536 of them, as mentioned above. That would cost you about $560 or .3 bitcoins. You can currently sign up for e-mail alerts, but the open sale will be conducted by Bitcoin Suisse AG and information on the specifics will become available on the 22nd.

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




Feedback or Requests?

9 Comments

9 Comments

  1. [email protected]

    May 12, 2017 at 11:23 am

    Any feedback/opinion on Etherbits ICO ending tomorrow?

  2. roobroo

    May 12, 2017 at 2:58 pm

    is this going to be a direct competitor to ripple? quickly read thru the thread.

  3. karthikg82

    May 30, 2017 at 11:42 pm

    $100 million ICO . Also,the founders get 8.5% of the fiat proceeds in cash in addition to 10% of the tokens. Wondering what your thoughts are on that.

  4. embersburnbrightly

    June 6, 2017 at 11:51 pm

    Incredibly thorough article. It appears that the launch of this coin has been delayed. I suppose it is better to push it back and do it right, rather than move forward and just hope for the best. I have provided my email address on their site in order to be updated on further developments, as this does appear to be a coin worth watching and perhaps investing in; at such time that the coin is indeed available for investing.

  5. cocodaldoc@yahoo.com

    June 13, 2017 at 7:56 pm

    Good day great article but question. The tezos is delayed until june but can i but tezos afther the fundraising ?

  6. csinkey

    June 20, 2017 at 12:39 am

    The Tezos fundraiser is back on, in 11 days actually. Are there any meaningful updates to mention since you wrote this article?

  7. seadog

    July 7, 2017 at 10:37 am

    No limit ICO seems not good, which will affect investors’s profits

  8. Michael_Ross

    October 23, 2017 at 4:36 pm

    Could you please review this analyst? Some days ago some bad news about the structure of the project appears.

    Thank you.

    • DiabloDave

      October 27, 2017 at 5:13 pm

      agreed please update this ico

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ICO

ICO Analysis: Bounty Angels

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ICO bounty programs are popular among investors and blockchain startups alike. They give opportunistic cryptocurrency investors a way to earn tokens for promoting a project and they give companies a way to market their project.

Bounty Angels is looking to automate the process, matching who the company describes as “blockchain entrepreneurs,” or bounty hunters, with ICO founders. Bounty programs are marketing campaigns launched by companies in which bounty hunters can earn tokens for touting the upcoming ICO. It solves a problem for a new startup that might not have the marketing muscle or the capital to gain the global exposure they need for a successful launch.

Bounty hunters, however, face many hurdles in identifying relevant projects to promote, in some cases being overlooked for a lack of a track record, for instance. ICO founders also face challenges, including engaging with bounty hunters who break the rules.

Bounty Angels is offering a solution, one that automates and streamlines the bounty process for both sides. Bounty hunters generate a performance history and that data is then shared with ICO founders on the Bounty Angels platform. For the bounty hunters, they won’t have to worry about engaging with a worthless or scam project, as Bounty Angels vets all of the ICOs that are on its platform. There is an alpha version of the platform available today, according to the company’s blog, though when we clicked on the link it appeared to be down for maintenance.

Artificial intelligence appears to be part of the long-term plan, as evidenced by the white paper that states: “Automated technologies when coupled with the expertise of professionals and, going forward, artificial intelligence, will allow [us] to create an all-new image of Bounty programs.” The team admits it is an ambitious goal, one that involves “launching our service around the world … to attract the highest possible number of customers and Bounty Hunters.”

The project is powered by the BANG token, which bounty hunters have the option to accept as a reward for their marketing efforts. Bounty hunters can also choose to accept free tokens from the project they’re promoting.

Token

The Bounty Angels  BANG token will be issued in the ICO. BANG is designed to fuel the project’s ecosystem including payment to bounty hunters and can also be exchanged among token holders. The company maintains that the BANG token cannot be deemed a security or any other financial instrument.

 

Source: Bounty Angels

There is also a bonus program.

Source: Bounty Angels White Paper

Team

Anatoly Krasovsky is at the helm of Bounty Angels. He’s also a project manager at NEWSBTC, according to his LinkedIn profile. The company’s CTO, Andrew Tar, is also a journalist.

Verdict

The Bounty Angels ICO has the potential to catch on like wildfire among ICO investors. It’s an engine to connect bounty hunters with the best blockchain projects that are looking for marketing. While the project displays tremendous promise, it doesn’t appear to have advanced enough from the concept stage, as evidenced by its dependence on the ICO funds to both develop the platform and hire developer talent. Once these pillars are in place, there could be no stopping Bounty Angels.

Risks

  • The company is still hiring developer talent for the creation of  “complex smart content that will
    make it possible to automate distributions.” The fact that the developer talent is not yet in-house exacerbates the risk for investors as it could lead to delays in the building out of the ecosystem until the team is a well-oiled machine. Not to mention if the fundraising efforts fall short and prevent them from hiring top talent. (-3)
  • There doesn’t appear to be a mention of mobile anywhere in the white paper. While this doesn’t necessarily mean that an iOS and Android app isn’t on the horizon, it may be far down the roadmap if it didn’t warrant a mention. (-1)
  • Bounty Angels is not the only rodeo. They allude to a competing project, Bounty0x. (-1)

Growth Opportunity

  • Research suggests that there’s a direct link between bounty programs and ICO tallies. The larger the bounty campaign, the higher the amount that the ICO ultimately raises, suggesting that the engagement of bounty hunters pays off. According to Element Group, which performed the research, “[A] $1 increase in bounty campaign volume predicts between an $8 and $15 increase in the final amount raised.” This should incentivize ICO founders to participate in bounty programs and potentially join the Bounty Angels platform. (+3)
  • Artificial intelligence is a key technology that could propel the platform beyond the competition, especially if said competition isn’t automating their process yet. While it’s unclear when AI would be implemented, it does appear to be on the roadmap. (+3)
  • According to the website, Bounty Angels has received a good amount of media attention, which may have something to do with the fact that its management team doubles as journalists. This is a plus for the project and its upcoming ICO. Also, if the adage ‘you get what you pay for is true,’ that’s a plus for Bounty Angels as it’s a paid platform. (+2.5)
  • What the company describes as “intensive work” on the project hasn’t even begun yet. While we could view this as a risk or reward, we decided to count it as a plus, as it explains why so much has yet to be done. It also reminds us that Bounty Angels has yet to reach its full potential of where the project can be when it is in full-throttle. The beta version is scheduled for January 2019.  (+3)

Disposition

We come to a score of 6.5 for the Bounty Angels ICO. Keep in mind we will plan to revisit this project once it kicks into high gear.

Investment Details

  • Token Type: ERC20
  • Platform: Ethereum
  • Symbol: BANG
  • Pre-ICO: Sept. 3, 2018 – Oct. 3, 2018
  • Public Crowdsale: November – December 2018
  • Token Supply: 20 million
  • Tokens Available for Sale: 14 million across the pre-ICO and ICO
  • Soft Cap: Pre-ICO = $100,000
  • Hard Cap: Pre-ICO = $500,000; ICO = $3.5 million
  • Token Price: to be announced
  • Payment Methods: to be announced

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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4.6 stars on average, based on 23 rated postsGerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She's also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. She owns some BTC and ETH.




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ICO Analysis: Zeex

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Zeex is offering users the ability to exclusively use crypto when shopping at various outlets. Users will be able to directly purchase whatever items thy want from their brands of choice without having to convert their crypto into fiat.

The following video shows Zeex in action outside of the Consensus conference at a Starbucks, where the CMO Apan Amos Damri uses their beta version to buy a cup of coffee using Ethereum. The transaction was successful, but the verdict is still out on whether they were able to spell his name correctly on the cup.

The ZIX token is what the whitepaper calls a “core element” of the solution, which does three things. It covers a user’s transactional risk until the trade is complete, it determines who can exercise what kinds of transactions when based on advertised discount rates and supplies, and it’s also a login method to use the Zeex platform.

To the surprise of probably very few people reading this, Zeex is a spinoff sister company of a European marketplace for buying and selling gift cards called Zeek Group. For Zeex, the road is already paved in terms of getting access to close relationships with name-brand retailers and a multi-million dollar inventory of gift cards.

Zeek has been able to raise venture capital from firms such as Blumberg Capital, Qualcomm Ventures, Scale Up Venture Capital and more.

The Zeex business model hinges on a few potential incomes streams:

  • Providing working capital to gift card suppliers, easing the transition for many businesses hesitant to get into the crypto field.
  • Financial services to support suppliers financially.
  • Marketing services to help suppliers speak the lingo of the cryptocurrency world. The whitepaper states that “Zeex has already mastered these industry-specific marketing channels and has been engaged in community building for a significant period, its in-house marketing team is already equipped to help suppliers build their own communities and maximize their value per transaction.”
  • Platform adoption and market penetration to help suppliers integrate crypto into their business makeup
  • Operations support to help suppliers and users better understand and utilize the platform.
  • Provide business intelligence data to retailers on cryptocurrency users.

Token

 

Risks

  • Not an entirely frictionless experience: This isn’t a problem unique to just Zeex, but is present throughout most digital payment solutions. Unless you can tap your phone on a receiver like Apple Pay, you’ll be behind the most “frictionless” payment system out there. However, this is miles ahead of crypto transactions. -1
  • Not really sold on the need for an ICO (for the investor’s sake): Although the Zeex platform sounds pretty useful, investor upside seems fairly limited (but then again, who can accurately predict investor upside in this space circa 2017/2018.  -2

Growth Potential

  • It works! Few projects raising money via ICO can boast a working beta, and Zeex already does and has a use case that many cryptocurrency users would likely want. +2
  • Yay user adoption! One of the largest detractors of the transactional user of cryptocurrencies is that it’s incredibly complicated and tedious. If you have 8+ steps before you can pay for a coffee, chances are you’re going to opt for that .25 second swipe of a Visa in your pocket. +2
  • Finally, a use for gift cards. When’s the last time you got a gift card that wasn’t from Amazon that you actually fully used? Too many people have gift cards just sitting around either untouched or with a fractional amount on them. There is a whole secondary market for discounted gift cards, and there’s a huge value in using these gift cards in a business model such as Zeex’s. The team essentially has a pool of gift cards going for a discounted price (usually around the 5 to 15% range), and are able to provide a solution to a community in dire need of one. +1
  • Zeek partnership. Having a sister company that already has the relationships with retailers necessary puts Zeex way ahead of the game. It’s not your typical run of the mill ICO that aims to build everything from ground zero for a lack of strategic partnerships, but more so a use case to be implemented with an already successful company. +3
  • Limited downside: Zeex claims that it will safeguard token value by using proceeds of the often sale to guarantee the supply of gift cards at the highest possible discount from a wide range of brands. If this means what I think it means, that worst case scenario you can use Zeex tickets to exchange them for gift cards at any time, and if there isn’t a stark depreciation of purchasing power for Zeex tokens, this is a cool perk few other ICOs can offer. However, if I’m wrong, write this point off as whitepaper tomfoolery. +2

Unknown

  1. This sounds like either a huge tax headache or a huge tax advantage. If the current American tax law stands that the exchange of crypto for fiat (or gift card) constitutes a taxable event, the Zeex team would have to figure out a way to help users report their taxes on these events. If this is the case, a -2 would be added to my score. However, if there is some international gift card loophole where users can trade any crypto for gift cards and there not be a taxable event, that would be huge for the team (although unlikely, because Uncle Sam is gonna get what he thinks is his). If this is the case, a +5 added to my score.

Disposition

We arrive at a +7/10 for Zeex. It’s got a cool use case, already works (in beta), and a relatively strong partnership in place. If the appreciation of the token’s value is correlated with the success of the app, investors would likely be pretty happy. However, if it’s just another token limited to its own ecosystem, I don’t see much use in investing into it unless you plan on using the Zeex app.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: ZIX
  • Platform: Ethereum
  • Crowdsale: TBA
  • Minimum Investment: 0.1 ETH
  • Price:1 ETH = 5,000 ZIX
  • Hard Cap: $50 million U.S.
  • Payments Accepted: ETH
  • Barred from Participating: Israel, U.S., China, Lebanon, Iran.

Sign up for the Zeex email list to find the news for the public crowdsale on the Zeex website and check out their whitepaper.

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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4.5 stars on average, based on 17 rated postsAlex Moskov is a writer and entrepreneur with a passion for building and creating awesome things. Alex has experience in music tech startups, digital marketing, and cryptocurrency investing.




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ICO Analysis: Tolar HashNET

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No one can deny that blockchain technology is revolutionizing many industries across the globe. However, blockchain still has shortcomings such as slow transaction times, scalability issues and high environmental cost. Transaction times can take up to several hours versus traditional payments like credit cards or bank cards only take mere seconds. For mass adoption to take place, there has to be faster transaction times along with the ability to scale and maintain these times. And there are those who are concerned with the effects on the environment from all of the mining globally. The founders of Tolar HashNet decided to create solutions to solve these issues while maintaining all of the advantages of blockchain technology.

Tolar was inspired by hashgraph methodology and designed a new and efficient asynchronous distributed consensus protocol on a directed acyclic network structure. Tolar HashNet uses redundancy reduced gossip and virtual voting protocols that provide a fast, fair, and Byzantine fault tolerant consensus algorithm. HashNet belongs to a class of gossip-based protocols instead of structured-based group communication algorithms giving it advantages such as being able to handle larger group sizes, high user churns, sporadic sources, etc.

Tolar HashNet is fast, secure and scalable – solving the major shortcomings while keeping all of the positive characteristics of blockchain technology, and has an open-sourced cryptocurrency called Tolar. HashNet has increased throughput to more than 200,000 transactions per second and has a working demo with 150,000 tps on multiple nodes. HashNet uses Proof of Stake with masternodes eliminating the need for mining which greatly reduces energy consumption making it more cost-efficient and environmentally friendly. The founder’s vision is to be the global leader in Distributed Ledger Technology and become the preferred choice of individuals, companies, and governments worldwide.

Token

The Tolar (TOL) token is an open source, community-governed cryptocurrency. It will initially be deployed as an ERC20 token that will later be converted to mainnet tokens when the mainnet is released. The price of TOL is 1 ETH = 5,442.59 TOL for the public ICO. A total of 1 billion tokens will be generated with a hard cap of 57,000 ETH.

Token Allocation:

  • 35%  Token Sales
  • 32%  Tolar Development Fund
  • 8%   Proof of Stake Network Start Nodes
  • 20%  Founders
  • 2.5% Developers
  • 2.5% Advisors

There is no lock on main tokens, but a THREE-month lockup for bonus tokens and a 24-month lockup for team tokens. The max bonus was 20%.

Team

The founders have 30 years of business experience and are definitely not new to the blockchain technology space having developed the world’s first Blockchain MBA Program and Certified Blockchain Developer Program at COTRUGLI Business School, a leading business school in SE Europe. Twenty-four team members and 13 advisors are listed on their website including:

Drazen Kapusta – Principal/Founder at Tolar

  • 30 years of business experience as well as a major blockchain startup investor
  • Principal of COTRUGLI Business School
  • President of Blockchain Adria, the largest blockchain conference and association in the Adria region
  • Member of Enterprise Ethereum Alliance
  • President of the COTRUGLI Fund – organizes and leads major humanitarian projects
  • Founder of the COTRUGLI Business Museum

Zoran Dordevic – CEO at Tolar

  • Managing partner at COTRUGLI Business School

Josip Maricevic – Co-Founder and CTO at Tolar

  • Previous Blockchain core developer for Blocknet
  • Previous iOS Developer for Qnective AG

Terence Tse, Ph.D. – Foundation Member at Tolar

  • Associate Professor of Finance at ESCP Europe Business School
  • AI Company Founder & Entrepreneur
  • Keynote Speaker
  • Author

Lester Lim – Advisor

  • ICO Marketing & Token Strategy Advisor for Cardstack, HybridBlock, Dock.io, Ink Protocol, CoinFi and Banca

Verdict

Tolar HashNet is positioning itself to compete with the likes of Etherium and Neo as a platform for building ICOs and Hyperledger to offer superior DLT solutions for governments, towns, local communities and enterprises. With several VC investors on board and multiple crypto influencers recently promoting/reviewing Tolar, this ICO is definitely worth looking into.

Risks

  • Competition is fierce in this space with major players such as Ethereum, Neo, Icon, etc. -1.5
  • Partnerships will be crucial to the success of the project and none have been announced as of yet. -1

Growth Potential

  • While some ICO investors look to flip their investment immediately and move on the to next one, Tolar’s proof of stake with masternodes is attractive to long-term investors. +2
  • The Ethereum Virtual Machine (EVM) will be deployed on top of the network which will make for a fast and secure decentralized applications platform. +2.25
  • An ICO with an MVP is certainly more desirable than an ICO with nothing but a website and an idea. The Tolar Prototype reached 150,000 TPS on multiple nodes. You can view the video here+2.75
  • Tolar won Ian Balina’s ICO pitch competition during his Crypto World Tour in Budapest. This will obviously create hype and draw more attention to the project which typically translates to positive outcomes in the current ico market. Many Tolar ICO reviews have also been recently published. +3

Disposition

With a fairly large team, all-star advisors, an MVP, available masternodes, and a growing social media presence, Tolar is another blockchain project that has an excellent chance of doing well this year. Tolar receives a 7.5 out of 10 rating.

Investment Details

  • Symbol: TOL
  • Platform: Ethereum
  • Hard Cap: 57,000 ETH
  • Total Supply: 1,000,000,000 TOL
  • Private Sale Price: 1 ETH = 6,531.08 TOL
  • Pre-sale Price: 1 ETH = 5,986.84 TOL (minimum 10 ETH)
  • Public ICO Price: 1 ETH = 5,442.59 TOL
  • Public Sale: Scheduled for August
  • Jurisdictions barred from participation: USA, China

For more information regarding Tolar:

Website: https://www.tolar.io/
Telegram: https://t.me/TolarHashNET
Twitter: https://twitter.com/TolarHashNET
Facebook: https://www.facebook.com/TolarHashNET/
YouTube: https://www.youtube.com/channel/UCL8ksEpe6um71pcdPi6wpXQ
Medium: https://medium.com/@TolarHashNET

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4.6 stars on average, based on 46 rated postsKent Hamilton - ICO Analyst on Hacked and Founder of CryptoDayTrader.io - ICO Insider Info




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