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ICO Analysis: Zenome

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Genomics is an interdisciplinary field of science focusing on the structure, function, evolution, mapping, and editing of genomes. A genome is an organism’s complete set of DNA, including all of its genes. In contrast to genetics, which refers to the study of individual genes and their roles in inheritance, genomics aims at the collective characterization and quantification of genes, which direct the production of proteins with the assistance of enzymes and messenger molecules. In turn, proteins make up body structures such as organs and tissues as well as control chemical reactions and carry signals between cells. Genomics also involves the sequencing and analysis of genomes through uses of high throughput DNA sequencing and bioinformatics to assemble and analyze the function and structure of entire genomes. Advances in genomics have triggered a revolution in discovery-based research and systems biology to facilitate understanding of even the most complex biological systems such as the brain.

The field also includes studies of intragenomic (within the genome) phenomena such as epistasis (effect of one gene on another), pleiotropy (one gene affecting more than one trait), heterosis (hybrid vigour), and other interactions between loci and alleles within the genome. This brief primer on genomics is a good Segway into the Zenome project.

The Zenome Project

We are now able to objectively analyze and observe the behavior of what makes DNA be what it is, exploiting totally new shores on the field, generating an enormous amount of detailed information including patterns and relations between organized molecular systems in an organic entity and biological automation on a whole new level.

According to Nature.com “Two research groups came across the phenomenon independently while studying extracellular vesicles — pieces of cell membranes that pinch off into bubbles and float away from the cells. These vesicles circulate throughout the body, but little is known about their function. The teams, led by neuroscientist Jason Shepherd at the University of Utah in Salt Lake City and cell biologist Vivian Budnik at the University of Massachusetts Medical School in Worcester, looked at mice and flies (Drosophila melanogaster), respectively.”

Projects like Zenome allow for individual units around the world share their DNA information with a decentralized blockchain based platform, where digital representations of the DNA, under the form of accurate information, are stored, analyzed and exchanged between scientific research foundations, academic labs, hospitals and health technology programs and pharmaceutical research to mention a few.

The Token

ZNA is the native currency of the Zenome Platform, a token based on the Ethereum Network (ERC-20).

The initial pool of tokens released for the presale was 3.2 million ZNA. After the presale reached about 350,000 ZNA, the remaining tokens were burned.

The total number of tokens that will be released at the time of the main token sale is 35 million, of which 25% will be frozen for use as a reward to network participants (for example, for the provision of hard disk space or computing power). Thus, the initial supply was 3.2 million at the moment of the presale. The total supply of the token is 35 million ZNA (including burned tokens), while the max supply will never surpass 35 million tokens. At the same time, the circulating supply will not be more than 75% of the total supply, which is about 26.25 million ZNA.

As for the use of the token, it is a utility token that performs a functional role in the Zenome system, which means it is not just a speculative tool. Inside the Zenome network, a Zenome platform user could use the token to purchase genetic tests and reports, pay for genetic counselors, physicians, and health managers. In fact, you can pay for any service related to your genome, up to and including dating services.

Industrial companies, academia and research sectors will be able to purchase personal genomic data (genetic, medical, behavioral and other) based on real human individuals that are part of the network in exchange for ZNA tokens.  ZNA will be used to build a market for genomic data and any services around it.

Team

The founders of the Zenome Project are Alexey Gorbachev (Research Institute of Physical-Chemical Medicine,  whopreviously worked for Quantum, GenEra and, Institute of Nutrition) and Nikolay Kulemin with a Ph.D. in Bioinformatics from the Moscow Institute of Physics and Technology, department of molecular and biological physics (MIPT). Vladimir Naumov (Genomic Data Scientist) and Sergey Popov (Blockchain Developer) are concluding the core of the Zenome project. The team seems aptly qualified to run a genomics project of this nature.

Verdict

Until recently, the genomics industry was based mostly on speculation, using a substantial amount of animal testing experiments as “information” inputs in order to analyze a biological concept, understand it on a certain degree and determine how it might affect humans. One can readily see how this approach is limiting when it comes to studying human DNA.

Platforms like Zenome can gather “information” regarding the human DNA based on real data collected by physical labs across the globe, which will create certified digital or physical representations of our DNA. We can send this DNA information to the Zenome platform through an application and that would support the fact that this specific information is a catholic example of a specific individual’s DNA.

Zenome aims to provide individuals with the opportunity to control and even monetize their genomic information. One of the project’s core strengths is the promise of establishing equal conditions for drug treatment. It is this interplay that could make Zenome an attractive investment for those willing to learn more about the industry.

Risks

Zenome might sound like a solid project, but if you’re looking at it as an investor and only, you should consider the following facts:

  • The genome market is a brand new field not only when it comes to blockchain but also on a physical scale. There will be a very strict group of organizations that would be keen on purchasing genome databases in the near future. -1
  • A user’s personal genomic information could be exposed to companies that may try to personalize their products based on your data. In other words, there may be significant ethical issues at play in this industry. -3
  • In order to have your genomic data sent to the Zenome platform, you should visit a local lab, authorized by Zenome and experience DNA Sequencing on first hand. This may limit adoption, especially when you compare it to some of the leading DNA ancestral services on the market. (These services send the kit directly to your door and your DNA sample can be sent back via mail.) -2

Growth Opportunity

Zenome plans to hit a market cap of $70bn by the end of 2019, based on their partnerships and analysts. Previous ICO speculations showed us that this number could vary dramatically from the expectations, especially in 2018, where academic, industrial, governmental and banking money are flowing into the blockchain sphere. Below are some of the biggest growth opportunities associated with Zenome:

  • Blockchain was certainly a surprise for all of us and while some are obsessed with the monetary applications and the profitable side, there are literally 4th generation blockchain based projects that are on another level entirely. These projects could unveil the real capabilities of that new technology in almost any possible field we can think of. Zenome appears to be on this level. +3
  • Creating the next generation of drugs that target molecular-level functions is unavoidable. A project like Zenome could help us reach that potential. In other words, the project is well poised to capitalize on partnerships with the pharmaceutical industry, which is highly lucrative. +3
  • Data science technologies in combination with accurate information about human genomics certainly create a whole new concept in the sphere and that is what Zenome is working on. Eventually, health tech will start to integrate  Zenome or similar platforms will have to be established in order to understand better and most important accurately what we are made of, how we can affect our environment and how it affects us. +3
  • The team is led by domain experts in genomics as well as blockchain professionals – a rare combination that could lead to exceptional results. +3

Disposition

The Zenome platform may need some time to create a network of labs, academic partnerships and most important convincing people to do a DNA test is not that simple yet.

We know that we are rolling into an era of machines and humans integrating their intelligence and capabilities into single use cases, but Zenome might sound a little bit “Sci-Fi” for the majority of the people, causing a long curve.

Long-term investors will appreciate its value, realizing the disruption a project like this could bring along when the global health industry realizes the capabilities it offers.

A score of 6 out of 10 is reserved for Zenome, based on present facts.

Investment Details

  • Type: Crowdsale
  • Symbol: ZNA
  • Pre-Sale: Concluded
  • Public Sale: February 1st, 2018
  • Payments Accepted: ETH

Disclaimer: The writer has no position in Zenome at the time of writing.

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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  1. ICOinvestor

    January 29, 2018 at 4:09 am

    I’d like to know what the quote from journal Nature has to do with anything in this ICO analysis.
    Also it seems written in a hurry and a lot of times it’s very hard to understand what exactly the author is trying to say, just look at the information about the number of tokens for example. We are paying $40/month for this and honestly it’s starting to look like this may not be worth it.

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ICO Analysis: Harmony

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As of today, there are no blockchains in existence that can scale to the needs of 5G technology and the internet of things. According to this Huawei article, to meet the requirements of 5G you need 100 billion connections, 1 ms latency and 10 Gbps throughput.

New startup, Harmony Protocol, aims to be the first to meet these requirements by redesigning the public chain with top performance and physical locations, which will scale blockchain to 10 million transactions/second and 100-millisecond latency, and at no more than a 0.1% fee.

Let’s pause here. A lot of people are about to skim over the rest of this analysis, thinking it’s just another ICO promising the world. And to be honest, few of us are technical enough to know if what Harmony promises is doable. What I can tell you after looking deep into this company is these guys are “THE REAL DEAL HOLYFIELD”, and this project has the “potential” to be a top 5 token for all of crypto.

Harmony will try to bring 1,000x speed and capacity to the next generation of the decentralized economy, enabling open marketplaces for 10 billion people and 100 billion devices. They plan to do this by proposing linear scaling over network nodes and machine cores using OmniLedger and Rust. These innovations together will bring a 1,000x breakthrough to the scaling transaction rate.

Omniledger Byzantine protocol is a secure, scale-out, decentralized ledger via sharding. It currently does 13,000 tx/sec and 1.5 sec latency with 1,800 hosts.  The protocol has the following principles and optimizations for scaling.

  • Atomic shard commit: Each shard uses O(log n) multicast tree-based BFT to unanimously accept cross-shard transactions with O(1)-size coordination.
  • Gradual transition Sybil resistant identities to maintain liveness when swapping. A sliding window from a fixed permutation to ensure ⅔ honest majority.
  • Pruning checkpoints State blocks for storage and bootstrapping against Byzantine DoS. Multi-hop, collectively signed back -pointers, 100x space savings.
  • Parallelizing blocks Acyclic graphs to capture transaction dependencies transitively. This divides each shard into groups to replace faulty nodes with a view-change.

A few of the most interesting features Harmony will offer are Location Oracles, Decentralized Maps and an AI data marketplace. These things will allow new innovations to move from imagination to reality, including:

  • Community content: Long-tail features, incentivized games, #pokemom, augmented reality and IoT w/ GPS data.
  • Smart cities: Autonomous vehicles-, ~1,000 self-organizing swarm robots with driven mission.
  • Privacy: Preserving Multiparty computation, #deletefacebook, homomorphic encryption.
  1.  Location Oracles: Nodes must be able to independently verify an oracle’s consistency so that it can effectively serve as authenticated data feeds. It is a challenge to integrate smart contracts with oracles that serve as authenticated data feeds. The team studied Crux: Locality-Preserving Distributed Systems for optimizing routing and for exposing network topology. This can take the GPS signals of mobile or IoT devices as proof of location in applications.
  2. Decentralized Maps:  Maps for geocoding and points of interest can be a showcase for decentralized applications in the real world. A good starting point for building decentralized maps on Harmony can be augmented reality games with incentives like Pokémon. The competitive advantage of decentralized maps is the long-tail, community-specific content. For example, a school can mobilize all of its staff to map out its buildings and playgrounds in a day; any student or organization can then build games and events on top of the location data without coordination.
  3. AI Data Marketplace: Harmony will also serve as a high-volume data marketplace and optimize its machine learning performance. It will follow blockchain-based machine learning marketplaces to build a new decentralized economy based on data.

Harmony also explores the design space and the scaling of smart contracts. It designed a new programming language called Min, and built a prototype compiler to demonstrate its ease and security, It compiles Min directly to machine code, eliminating the common dependencies of libraries or system tools. Currently, the compiler bootstraps itself in x86-64 instructions and supports development in Mac OS. In an unpublished repo Min also compiles to Java VM without any third-party tools.

The company has the following message:

“Computers automate tasks, Internet delivers information, smartphones bring mobility at almost no cost. Harmony will bring the next revolution of the decentralized economy to the masses, in which enforcing transactions and contracts is essentially free. Harmony will enable disintermediation of trust where anyone can create businesses without a central authority. For example, all 10B people can vote on a bill in 17 minutes; or, organization resources can be efficiently re-allocated every second.”

Token

The token model of Harmony aims to build a sustainable platform with help from decentralized developers and aligned investors, balancing the long-term commitment of development with the tiered incentives of investment.

The distribution is as follows:

  • 40% Community and Developer
  • 28% Foundation and Research
  • 20% Sales and Floating
  • 12% Founder and Team

For details on token lockup periods and incentives check out page 20 of the whitepaper.

The use of proceeds are outlined below:

  • 40% tech development of protocol platform
  • 20% Community Engagement and developer programs.
  • 15% Business Dev, Marketing
  • 10% Operations, Equipment, Cloud Servers
  • 10% Collaboration with Academic Research
  • 5% Legal, Finance

Team

The team is the reason we decided to run this analysis early before all the info was available. Readers need to know about this stacked group of elite techies.

Stephen Tse: is the project founder. His past experience includes: research at Microsoft Research, senior infrastructure engineer at Google, principal engineer on search ranking at Apple. He founded the mobile search Spotsetter with institutional venture capital; Apple later acquired the startup.

Alok Kothari has experience in deep learning models for natural language understanding at Apple Siri. His research paper won the best data set award at ICWSM 2013.

Rongjian Lan is an infrastructure engineer for Play Store at Google. He has published more than ten academic papers on spatio-temporal querying and map-based visualization. He is the co-chair of ABC Blockchain Foundation with 100+ engineers from Google, Facebook and LinkedIn as members.

Hakwan Lau is a Rhodes Scholar that specializes in neuroscience and machine learning. He was an associate professor at Columbia University and has published 90+ papers in peer-reviewed journals.

Trausti Kristjansson, whose previous experience includes stops at Microsoft Research, IBM Research and Google Research, founded full-stack startups and led PhD engineers at the top of their field as an Engineering Director.

Team member Bruce Huang served as engineer lead at Microsoft for seven years, a director at Alibaba Cloud and at Credit Ease. Later, he was the CEO of Madailicai, a top peer lending company in China.

Nicolas Burtey founded a VR video startup in 2012 that grew to 40 people and raised $10 million. Orah served the needs of thousands of professional content creators in 70 countries by selling GPU-driven live stitching software and 360° camera.

On top of that, Harmony has six extremely impressive advisers/collaborators. Check them out here. Below we highlight two project collaborators:

Verdict

I’ve watched more than a few conspiracy theory videos on YouTube. I know about Bilderbergers and The New World Order. This team has Illuminati written all over it. Hakwan Lau is a Rhodes Scholar for shit’s sake.

Hakwan’s latest science paper was called, “What is consciousness, and could machines have it?” At Harmony, he is exploring the connection between probabilistic consensus protocols and brain communication. He’s also studying “privacy-preserving modeling of mental patience’s data on blockchain.”

The whitepaper lists Harmony Protocols’ closest competitors; EOS valued at $14 billion, Zilliqa valued at $700 million, Hashgraph at $300 million, Thunder $100 million, Dfinity $100 million and Kadena at $12 million.

These valuations show just how important scalability is to the market. It’s everything right now.

Harmony has yet to announce its hard cap. Word on the streets is that it will be around $40 million. That’s massively less than the rest.

Risks

  • The token model is unsettling. Twenty-one billion tokens is a massive number. They do not give details on the utility uses of the token yet. It looks like there will definitely be staking nodes which means inflation. -1.2
  • A good question in their Q&A section was, “If OmniLedger is 13,000 tx/sec, how does Harmony make the leap to 10M tx/sec?” The answer: “Our further boosts to 10M tx/sec might come from: 100x more nodes (including light clients), 10x network (1Gb and 20ms world round trip with backbone relay), and 10x manycore graph processing.” So in order for Harmony to scale like they say they can, it will require community node participation. The more nodes go onto the chain, the faster it will transact. Growing their community to that scale will be very tough. -2
  • They aren’t doing a public ICO as of right now. So far they raised $18 million in a private seed sale. The whitepaper only mentions this in regards to further sales: “2018 Q4- Raising $?M as the final private token presale”. -1
  • No Telegram or community yet. Its still early, but still – they collected seed money already. -1

Growth Potential

  • Protocols that host DApps do really well. This one has innovative Location Oracles and Decentralized Maps. +4
  • They designed their blockchain with the 5G network in mind. The sky is the limit if they become a major player in 5G blockchain protocols.+2
  • A subproject of Harmony is a new programming language for writing smart contracts in an easier and safer way. Memory management requires enormous development effort or it dominates run-time cycles. According to the company, “Min’s innovative type inference automates ownership annotations in a region-based memory model, so code remains at a high-level abstraction without the complexity of a garbage collector.”+1
  • They plan on integrating the following aspects of a consensus protocol: scripts and contracts, fairness and efficiency (anti-pooling, proof of useful work, proof of stake), security and privacy (multi-signatures, attack models, verification) and off-chain and edge clients (Lightning, IoT)+1
  • This 2018 roadmap/chore list is strong. +2
  • Team is absolutely outstanding.+3

Disposition

This is a crypto investors wet dream. A team of ex-Apple and Googlers building a protocol for DApps that promises to scale the Decentralized 5G Economy to 10 billion People. Its a shame they won’t let the public buy into the sale easily. Guess we have to wait.  7.8/10

Investment Details

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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4.3 stars on average, based on 22 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: Pigzbe

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London’s maiden cryptocurrency sculpture has been unveiled alongside the River Thames, reflecting a baby in a mother’s womb holding a tablet. Italian sculptor  Frederico Clapis is behind the design and was commissioned by cryptocurrency wallet Eidoo.

“The baby in the statue represents a generation being born into a world where blockchain is normal and useful for all,” according to Clapis in reports.

Eidoo isn’t the only digital wallet looking to capture the new generation for cryptocurrencies and blockchain technology. A startup dubbed Pigzbe has developed what they describe as a “piggy-wallet” which is a physical/digital hybrid ecosystem designed for children and households earning and saving funds in the 21st century. The physical end of the product is a cryptocurrency hard wallet for storing digital currencies, while the digital aspect is comprised of a decentralized app for games that kids can play on their tablet to encourage saving.

The Pigzbe ecosystem is comprised of the following  components: 1.) Wollo token; 2.) a cold-storage device and gaming controller; 3.) wallet app and educational game; 4.) Wollo card akin to a debit card for spending online and offline — in development. Pigzbe says they’re targeting hundreds of millions of children with $15 worth of weekly “pocket money”, seemingly through an allowance.

Kids and families alike will gain exposure to a decentralized financial system in which they can transfer funds quickly and cheaply within a network on the blockchain-fueled platform.

Token

Most ICOs use the Ethereum network, but Pigzbe takes a different tack, opting instead for Stellar. The white paper states: ” A single transaction costs 1/100,000 of one Stellar Lumen (XLM) in network fees. Wollo transfers between one family member and another are settled within 3 to 5 seconds, regardless of where you are in the world.”

Pigzbe is fueled by the Stellar-based Wollo token, which the startup describes as a “Swiss-based utility token.” Nearly three-quarters of the fixed token supply will be earmarked for the public, including an “active user incentive pool.” The company will also set aside a percentage for growth including an M&A pool, among others, illustrated below.

Courtesy: Pigzbe.com

Team

The management team boasts more than 150 years of combined experience across education products. Filippo Yacob, founder and CEO, is a Forbes 30-under-30 entrepreneur who also founded Primo Toys and coding toy Cubetto, which received accolades from Montessori.

Pigzbe also boasts a team of advisors and investors, including Natale Ferrara, who is at the helm of ICO-Engine and Eidoo — the company behind the London cryptocurrency sculpture.

Verdict

Pigzbe is an ambitious project, as evidenced by its plans to replace the traditional piggy bank, but it’s also a promising one. Consider its ability to secure an early listing on leading cryptocurrency exchange Bitfinex, this project appears to have the wind at its back.  Traders are likely to find liquidity in the Wollo token.

It’s disappointing that the Wollo token won’t be issued in the United States, as American children could benefit from financial learning and tools, but Pigzbe must be looking to avoid having the coin designated and regulated as a security. But given its mission to educate children about saving and spending in a hands-on way, the project is sure to strike a chord with families who are keen on decentralization and the blockchain around the world.

Even if it doesn’t replace the piggy bank — which Pigzbe believes it should — the Wollo token could be used as an educational and fun tool for kids to learn about digital money. Familiarizing them with the blockchain and decentralization will introduce a whole new way of transacting that wasn’t available to previous generations. The cold storage is a nice touch that will teach kids early on that they need to secure their digital funds.

Risks

  • One of the components of the Pigzbe ecosystem remains in development — the Wollo card for spending online and offline. While it’s only one of several moving parts to the Pigzbe project, we like to see completion. Any products that are dependent on the results of the token sale for the development add risk. -1
  • Cryptocurrencies haven’t officially made their way into the mainstream. Without regulation, the industry is still deemed risky by governments around the world, and therefore households may be reluctant to participate in a project that is built around the blockchain and cryptocurrencies, especially as it pertains to their children or a major life milestone like saving for college. -1.75

Growth Opportunity

  • Numbers don’t lie. Pigzbie boasts more than 20,500 Telegram members; 8,100-plus followers on Twitter; nearly 5,000 Facebook followers; nearly 2,600 subscribers. +2.5
  • Liquidity. In addition to Bitfinex, Wollo has also secured a listing on the Stellar Decentralized Exchange. +3
  • As the winner of an ICO race in Switzerland, Pigzbe was awarded most of a $1 million award in addition to the Bitfinex exchange listing. +2
  • A seasoned management team in education tech and electronics that combined has “shipped millions of products across more than 180 countries.” Founding members boast project experience with technology leaders including Apple, Google, Nokia, IBM and more. This kind of experience is hard to replicate at a startup. +3

Disposition

Based on the above analysis, we reach a score of 7.25 out of 10 for the Pigzbe ICO.

Investment Details

  • Pigzbe Websitehttps://www.pigzbe.com
  • Token Type: Utility
  • Platform: Stellar
  • Symbol: WLO
  • Pre-ICO: Private until late June 2018. Email hello@pigzbe.com
  • Public Crowdsale: July 4, 2018 12:00 GMT. Whitelisting will be open shortly. Check the Wollo Telegram channel for updates.
  • Token Supply: 675 million
  • Tokens Available for Sale: 175 million
  • Price: 1 Wollo token = USD 0.12 and the equivalent in ETH
  • Public Sale Minimum Purchase: 1,000 Wollo
  • Payment Methods: ETH
  • Jurisdictions Banned: U.S. and China

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 15 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: AIRBLOC

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AIRBLOC is a platform for the analysis and trade of personal data, uniting buyers and companies wishing to obtain information about their customers.

As a decentralized platform for the exchange of personal data for both people and applications, AIRBLOC is planning to expand the data market to a level where individuals and small applications can participate, which will improve the quality and quantity of data transferred so that all market participants eventually benefit from this exchange.

Users will be able to monetize their own data, while monitoring and controlling transactions. Through the DAuth protocol on AIRBLOC, applications can receive permission from users and sell data on their behalf. In addition, advertisers can easily acquire and access a small amount of data and optimize their marketing campaigns using effective micro-targeting based on a high-quality and diverse set of user data.

Data Providers are end users, and fully control the use and dissemination of data.

Gatekeepers are a network node; they keep the network from fraudulent activities by checking data and detecting user violations.

Data Collectors are applications that collect data and monetize them on behalf of users. They can collect indirect data using DAuth or collect direct data from users.

Data Refineries analyze data collected from Data Providers and processes them into user-level attributes. The processed data is then added to the user profile so that Data Consumers can filter them according to the specified attributes when creating a new segment.

Data Consumers are advertisers who purchase data for targeted ads using ABL tokens.

The protocol layers are described below:

  • Application Layer: Consists of third-party DApps that use Airbloc, including Airbloc Client, Airbloc DMP, and SDK.
  • API Layer: an interface provided for communication with Airbloc Network and third-party DApps.
  • Service Layer: Airbloc Contract, which includes all the functions of Airbloc Network.
  • Core Layer: This layer is based on the Ethereum platform. It uses the internal subchain network to verify the data and uses the interchain network to link the two block libraries.

The data in the AIRBLOC system go through the seven stages of data processing, involving all five types of stakeholders. User-created data is collected and stored after Gatekeeper checks them. The refinery will refine these data in commercially available Ad data and sell it to consumers.

AIRBLOC has many competitors, including Wibson, Datum, Bitsabout.me, Insights Network, Opiria, Metame and BitClave. However, the whitepaper explains how AIRBLOC differs from these companies.

Token

The total token supply is set at 400 million ABL. The tokens will be mined based on the annual inflation rate of 2.5% with the depreciation rate of -10.9%. The mined tokens will be stored on the AIR rewards pool. Such accumulated rewards will be given to Users and Gatekeepers as rewards. The block reward has a half-life of six years. As a result, more rewards will be given to early stage Network participants.

Nodes need ABL tokens in order to validate the date, and be rewarded in ABL as per usual POS

The token sale metrics are provided below:

In terms of token economics, AIRBLOC offers two types of tokens. One is the AIRBLOC (ABL), and the other is AIRBLOC Reward (AIR). ABL is a transferable ERC20 token and AIR is a non-transferrable token belonging to Users but can later be converted into ABL at a ratio of one-to-one.

While AIR cannot be transferred to others, it could be converted to ABL. However, it is impossible to convert ABL back to AIR.

The ABL token utility is spelled out below:

  • [DATA SOURCE] Data Providers who provide data will be rewarded with ABL tokens.
  • [DATA CLEANSING+VALIDATION] Data Validators are rewarded in ABL tokens for validating and cleansing data (removing unnecessary segments of the data) before the data is registered on-chain.
  • [STORAGE] Data Storage nodes are rewarded in ABL tokens for storing data.
  • [DATA REFINING] Data Refineries analyze data and refine them into insights.
  • [MARKETPLACE] Interactions and transactions on the AIRBLOC Data Marketplace would require the ABL token.

AIR is a reward token for Users that complete productive activities in AIRBLOC, such as:

  • Provide data or contribute to the data reliability mining process.
  • When Gatekeepers maintain AeroNetwork node.
  • Refiners process raw data into valuable data.

Inflation

Actually, I was bothered by the inflation concept, so I dug into inflation and AIR issuance.

inflation will work in two ways:

1) ABL mined by nodes through a POS which requires ABL and is set at 2.5% per annum with 10.9% decrease in yield.
2) Through conversion of AIR, which is also given to user as per their contribution and amount of AIR they have.

To get ABL tokens, you must:

  1. Buy at the exchange
  2. Receive reward from node
  3. Convert from AIR

In this sense, the procedure of AIR issuance is rather important. And for this AIRBLOC introduces a concept of AIR pool.

AIR pool will be a dynamic account, from which rewards will be given as per process described above. What is important is to understand how it is filled in the first place:

  • 10% of total supply of ABL goes to AIR pool to ensure liquidity.
  • It is filled with trading fees, data usage rights fees paid by refineries and penalties for misbehavior.

Thus we see that issue of AIR is an ongoing process. But in order to hinder potential price dumps by AIR holders, conversion of AIR to ABL per hour is limited to 0.1% of AIR generated by the network.

Team

 

Roi Nam is the CEO and co-founder. He also served as CEO of ab180 (parent company) for two years.  He was engaged in web development for 1.5 years, as well as CSO for 1 year.

Wonkyung Lyu is the Dev Team Lead and co-founder. He is also co-founder in ab180.

Hunjae Jung serves as the project’s Back-end Part Lead and co-founder  and was also part of the founding team at ab180. Naeun Kim, Design Team Leader, rounds out the founding team at AIRBLOC.

The broader team is filled with developers and business professionals that are associated with ab180.

The advisory team includes JH Kim, who is also part of the ICON Foundation. He has almost 20 years of experience in the field of security, has experience in developing patented applications, such as the FCI protocol, has the CISA qualification, and is currently the director of Theloop.

Jason Han, who serves General Director of Kakao Blockchain, is also on the advisory team. He has served co-chairman and technical director of FuturePlay Tech VC.

Serial entrepreneur  Sungjae Hwang is also an adviser to the project. He is a partner of Futureplay, the initial high-speed accelerator in South Korea and the CEO of FoundationX. Prior to these companies, he founded several start-ups. He worked as the chief product officer in Fluenty Inc. and AI chatbot startup, which was acquired by Samsung Electronics in 2017.

Louis Jinhwa Kim, who previously served as Director of the Tide Institute Institute of Finance and Delegate of the Republic of Korea to the United Nations Conference on Environment and Development (2012), is also on the team.

Partners include:

  • GS SHOP, a leading online retail platform in Korea.
  • Allbit, a new type of crypto exchange gateway. .
  • FoundationX, one of the growing funds and accelerators of venture capital in Korea.
  • VEAT, which is one of the leading law firms in Korea specializing in startup advisory services.
  • ORANGEFARM, which is focused on incubating promising startups in Korea. ab180, the parent company AIRBLOC, was incubated in ORANGEFARM as early as 2017.
  • SENTIENCE, one of the leading Korean research companies,.
  • Deblock, an accelerator in Korea which is jointly invested by ICON Foundation & Ad4th Insight, a specialized block-chain company.
  • Battle Entertainment, a leading comic platform in Korea, serving more than a million customers.
  • Humanscape, a the leading medical platform for customer relationship management in Korea, which helps hospitals monitor the condition of patients after surgery and provide follow-up services to patients.
  • Rainist, a leading Korean software company which provides recommendations for financial products based on lifestyle patterns.
  • Fysical, the world’s first full-fledged, fully functional, decentralized market for location data.
  • Indorse, a decentralized social network for professionals.

Verdict

A large team with extensive experience in the sector looks solid. The guys were able to attract consultants in areas where there are obvious gaps, as well as partners represented by ICON.

Risks

  • Based on token sale ROI statistic, marketplaces and advertising related projects do not have a good performance in the short term. -1
  • Customer attraction could face challenges. However, to offset this, the platform has developed a proprietary AirBloc Protocol SDK (software development kit) that has already been stress tested by 60 million devices in Korea. The SDK Protocol functions like a layer that can be easily implemented on top of apps, allowing acquisition of customers. -0.5
  • Platform implementation and scaling could face difficulties, as Ethereum is not suitable for this. Therefore, AIRBLOC uses the hybrid-chain architecture that uses Ethereum and ICON. Data validation and the process will be done through Aero Network, which will use ICON. Such a combination seems promising; however, without a working MVP (planned to be in Q3 2018) it is hard to judge on its performance. -1
  • There are ptential regulatory barriers in relation to private data protection laws, although the team looks prepared to handle it. -0.5
  • I do not like the fact that private sale participants get 45%, even though 30% of 45% will be locked for 3 months as their overall part in the token distribution is rather high. -2
  • The project involves a complex inflation model, which involves two tokens. -1

Growth Potential

  • Mother company ab108 is already successful in advertising market analysis in Korea. +2
  • Whitepaper and documentation are pretty good. +1
  • The team is above average with many strong developers. +2
  • A lot of strong partnerships like ICON and GS shop, Coinplug as well as several VCs. +2
  • Token metrics and distribution are in a good range with a hard cap of 20,000 ETH (around $12 million). +2
  • Strong token use case. +1
  • A good growth strategy for user attraction. +1
  • Hype is there (Telegram has 10,000+ members and lots of people are on the whitelist). +2

Disposition

This is definitely a project to look for. The team has all the necessary experience and knowledge for a successful execution. They leverage on their mother company ab108 and numerous partnerships. They have some obstacles in their way, but they have a clear plan how to overcome them. AIRBLOC receives 7 of 10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: ABL
  • Platform: Hybrid chain structure: Ethereum and ICON
  • Crowdsale: June
  • Minimum Investment: 0.2 ETH
  • Price: 1 ETH = 10,000 ABL
  • Hard Cap: 20,000 ETH
  • Payments Accepted: ETH
  • Restrictions Barred from Participating: USA and China

General details :

Website : https://airbloc.org/#main

Whitepaper : https://docs.google.com/document/d/1JFpgTbp3W76Q45HmefSpLBraZ_XeTHmdtWheYMU0czQ/edit

Telegram : https://t.me/airbloc

Github : https://github.com/airbloc

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 6 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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