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ICO Anaysis: Ties.Network

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ICO Anaysis: Ties.Network

Introduction

This article was posted on Monday, 20:04, UTC.

As soon as we hear “business platform,” we think Aragon. How can you improve on Aragon? Well, Ties is a bit different. Ties offers a social networking aspect that Aragon doesn’t achieve. While Aragon offers an easy introduction to smart contracts, Ties wants to build a network around such smart contracts, and promote the start of new businesses in the process. Billing itself as a decentralized “LinkedIn” of cryptocurrency, Ties certainly is interesting.

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Ties.Network satisfies the need of crypto-community to connect and the need to secure P2P business transactions in a new counter- economy. Today the community is fragmented and connections are fragile for two reasons. It’s still a new market (though it’s growing rapidly), and because it is so new, it is hard to find professionals one can immediately trust and strike a deal with. Ties.Network aims at resolving the issue of trust for crypto-community on a fundamental level by giving people opportunities to find each other and do business in a new, yet safe environment in accordance with the principles of decentralized ​​economy.

On the surface, it seems that Ties can do most of what Aragon offers, including the crowdfunding aspect, but also offers a social network and rating aspect. The rating part appears important to the idea’s creators, in that they are limiting those who can actually offer feedback on a person or entity to those who’ve done business with such on the same platform. This is good in one respect but bad in another. Those who’ve already established themselves in the industries at hand will have to re-establish themselves on a new platform, competing perhaps with those who’ve not yet previously established themselves at all. This is problematic for obvious reasons, but not a major drawback.

As an IT product, Ties.Network is based on Ties.DB – a public, decentralized, and distributed noSQL database that allows to store huge amounts of dynamic data, and search within the content of the files. Ties.DB is a public, open-source solution that can be utilized by other dApps and decentralized blockchain-related projects to facilitate their entering the market and structure large amounts of data.

We like the sounds of Ties. In fact, from the outset, we don’t see a reason that it and Aragon necessarily have to compete for market share. There are two different types of groups being served here – in the case of Aragon, businesses themselves, whereas in Ties, we see that both the businesses themselves and the people operating within them are being served. In the case of Ties also, we see a forced usage of the token, similar to the Aragon Network token, and this is an encouraging sign for the health and long-term value of such a token. Once you’ve established that there are certain things that can only be achieved with a certain token, all that remains to do is to make that thing both valuable and in demand. That is the actual task of most of the firms we review here, and no less the task of Ties.Network. What have they actually to offer, then, in specifics?

Ties.Network Specifics

Ties list their “key abilities” as the following:

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● Trade goods and services

● Trade cryptocurrencies

● Hire and recruit specialists

● Participate in token generation events and blockchain projects

● Receive feedback for startups or token generation events

● Promote token generation events and network with startups

The overwhelming focus on tokens and the creation thereof is disheartening. Someone has to say it, so it may as well be the author: the token craze is not going to last forever. Building businesses around it, at least those which make it easier to do, seems not just low-profit but also ill-fated. While tokenization will increasingly be the mode of the future, and platforms will be required to facilitate it, we don’t see these as good investments at this time. Such platforms are best left to rise of their own volition than be funded on the model they seek to service. This would be preferable for them, as well, to not need a token model to fund on, but just get in the business of helping people create tokens, the way that KICKICO did. Nevertheless, we have to say, that without this particular “token generation and promotion” aspect of Ties, we’re not actually offered that much.

To the end of the token generation events, we get a bit more detail:

A project on Ties.Network is an instrument for users’ collaboration within a certain industry allowing users to discuss/share their ideas, make P2P financial transactions between the project team members and collect finance from other users of the platform.

So far, we’re not overly convinced that this platform is solving real problems in real industries. We tend to think that Aragon could solve the actual crowdfunding issues, and that there are other means by which tokens can be issued than through this platform. It does not, probably, offer enough novelty to break ground long-term. Nevertheless, it could be a good entry point for some legacy businesses into the crypto space, and as such, its token is likely to hold some value, under certain provisions, and we will keep this in mind moving forward.

As to payments and settlements, we get:

Payment is transferred to a smart contract escrow, which is only released when the results of the transaction are accepted by all parties involved. When and only if necessary, Ties.Network arbitrators would intervene to resolve disputes […].

It’s almost funny to read the Ties explanation of its fee structure. Instead of taking fees, they levy taxes! Which are totally different things, right? In any case, it’s good to know there is some revenue model. We’ll talk about that a bit more in the token section.

As to the storage and relay of data, a decentralized network of nodes will perform this function, with faster nodes achieving a higher reward.

Ties Token (TIE)

Ties will derive revenue from advertising on the platform, a tax imposed on escrows held on the platform, and profits from currency exchanging.

The token is required to transact in the platform, which is crucial for its value long-term. The analysis then becomes whether or not the Ties platform is one that is going to do enough business to make the token in-demand enough to justify an investment, as well as whether or not the supply will make this a mistake even then. A high supply can mean that coins issue during the generation event wind up on discount at the exchanges – this is just the nature of things.

Fortunately, Ties are issuing 140,000,000 tokens, which is an amount that we can foresee holding some value. Earlier buyers will receive up to a 20% bonus of tokens, but we’ll discuss more about that in the investment details section.

We think the fundamentals are met with Ties, but we’re still not sure that this will necessarily perform enough outside of Aragon that both will truly co-exist. This shouldn’t detract from investments in the short-term, nevertheless, as it’s something that takes time to prove out, and in the interim there is definitely enough money and room for both.

Ties Team

According to his own description, CEO Alexander Neymark:

[…] has a significant experience in launching and developing innovative financial services in banks and telecommunications companies (starting from 2000).

A search of his name and blockchain yields this profile in a Dutch blockchain group, in which he writes:

The problem lays in the fact that if the system is distributed, then anyone can supply the server. A random person can have direct access to the entire database and can either conduct DOS attacks on it by placing a heap of garbage data, or delete everything. The the technical question raised here is: How do we avoid this? In centralized servers, such as facebook’s, the issue is simply addressed by deciding on what is valid and what is not, which makes it act like a top-down entity. In the case of a decentralized system, there is no such trust center. That is, we need to establish the general consensus rules of the game for everyone. It impossible to store such a database directly in the Blockchain. […]

The above is, of course, what Ties aims to do in a nutshell as far as its data storage abilities go.

Software lead Anton Filatov previously worked as a Java developer for a payments-based firm called PayStore.com. His work has mostly been in Java, but this should not detract from his ability to work in Ethereum projects.

The Verdict

We think Ties.Network, like Aragon, will have a long future, but we’re not sure how it will stack up against Aragon and other plays which want to help companies get onto the blockchain.

Risk

  • We think there is a myopic tendency to exaggerate the usefulness of tokens or the blockchain, and it represents itself in this project’s focus on tokenization for projects they want to bring on board. -2
  • Could be competing for a small market. -0.5
  • Coming into the ICO boom late. -0.5

 Growth Potential

  • We think that companies are only going to increasingly get on the blockchain, and platforms like Ties will be one way in which they do it. That they have built a few tertiary services to help give the token some value is also a plus. +3
  • The project is well-designed, if limited in scope. This isn’t always a bad thing. +2
  • We think that the team are philosophically inclined in the right direction to whether the upcoming store that will befall the global cryptocurrency market, inevitably. We think they’ll still be able to develop the project through bad times. +2
  • For a short-term play, there will certainly be a lot of interest in Ties around its ICO and directly after. We think that there are definite opportunities for profit via the bonus structure. +1

 Disposition

We arrive at a 5.0 for Ties.Network. As you can see, our reasoning is that while in the short-term there are profits to be made, long-term we think there is some proving left to be done as to the viability of a business model geared toward ICOs.

Investment Details

140,000,000 tokens will be issued, and the beginning rate is 24 cents each, at which price you will apparently get a 20% bonus. The bonuses then decrease as tokens are sold. When 10% have sold, the bonus is reduced to 17%, and so on, as shown below:

 

We recommend taking only official information, and being wary of anything unexpected. The scammers don’t need any help, they’re getting rich enough off the legitimate intentions of investors as it stands. So, get your information as to investment from https://ties.network/TGE-details and nowhere else. The sale begins in a couple weeks. A Google alert for “Ties network scam” is advisable, in case something happens you should be aware of.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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P. H. Madore

P. H. Madore

http://phm.link

P. 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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