Cognida - Due Diligence Report

Summary

Pre-sale: 20.6.2018

Public sale: 20.7.2018

Hard cap: 20 000 000 USD

Total supply:  550 000 000

Token allocation: 54% +3% airdrop

Underlying platform: Ethereum

Ticker: COG

Accepted currencies: ETH, BTC, USD

Pros

  • Experienced team and interesting advisory board
  • An interesting project that could find a lot of clients, but good sales force will be needed due to focus on enterprises
  • Reasonable hard cap

Cons

  • The token does not have a much unique use case and incentivization
  • Very small community and activity so far
  • Nobody with blockchain development experience in the team

 

47%

Team: 4/5

Project: 3/5

Token use case: 2/5

Token Metrics: 2/4

Roadmap: 1/3

Community and marketing: 1/5

Hype: 1/3

 

Description

Cognida delivers trusted blockchain solutions that address the increasingly complex information sharing challenges that enterprises face by allowing them to incorporate decentralized blockchain security features into their existing Infrastructure. Enterprises can leverage Cognida’s Service Network Interface to connect to trusted service networks where they can administer third-party cloud services from a single interface, enabling administrators to manage privacy, access, and security of their data on remote systems through a unified platform. As enterprises adopt new distributed technologies, the data landscape is evolving away from centralized services maintained behind corporate firewalls to a complex distributed landscape. This trend has corporate data scattered across devices and services outside the enterprises’ administrative control.

The Cognida Platform, which has been developed by Windmill Enterprise, solves these disconnects by enabling enterprises to benefit from the advantages of existing blockchain technology to address their growing security and privacy challenges. The Cognida Platform will be released to an open-source foundation at the launch of the Cognida Service Network.

It seems that the team is describing some kind of escrow or multisig service, but the way they describe it seems unnecessarily complicated and vague.

Team

Executive team:

Michael Hathaway - Co-Founder, Technology and Managing Director

  • He worked with pioneers in electronic music and digital audio. After developing a line of affordable digital audio products at Lexicon (acquired by Harmon Industries), he transitioned to the networking sector.
  • He was a technical contributor during the early days of Ethernet and ATM network switches, culminating in developing the first gigabit capable Internet packet forwarding engine for a DARPA project while working at BBN. He was a founder and executive at the pioneering terabit Internet router startup, Ironbridge Networks, and CTO at network processor startup Agere (acquired by Lucent Micro).
  • he founded Information Xchange (IX) and developed the Tensor-Connect platform based on his architectural principles.

https://www.linkedin.com/in/michael-hathaway-85186/

Bing Byington - Co-Founder, Strategy, and Operations Director

  • A serial entrepreneur creating businesses in the Mobile Wireless Digital Imaging, and Healthcare sectors.
  • He was a CEO and a principal of a consortium of seven Mobile/Cellular licenses in the US and two internationally and sold his business to George Soros and the predecessor companies to Verizon and AT&T Mobile.
  • He built industry leading digital imaging software for early generation digital cameras. The business was sold to Kodak.
  • Currently Executive Chairman of CareConnex, integrating patient data from hospital ICUs and emergency wards, beyond the hospital walls into EMRs, lowering re-admissions and supporting “aging in place.”

Frank Fernandez - Partner, Director of Finance

  • Has been managing and advising multi-billion dollar institutional private equity portfolios for more than 20 years.
  • he has been utilizing this experience to serve as an advisor to Blockchain projects such as Cognida, Hatch Crypto and Vault Wallet.
  • He founded Gateway Private Capital (“GPC”) in 2004 to advise large institutional investors and assist with the management of their private equity portfolios.
  • Since 2008, he also has served on the Investment Committee for Keystone National Group, a private equity and private credit fund manager with over $1 billion under management.
  • Previously was the founding member and Senior Portfolio Manager of the Alternative Investments Asset Class at the $100 billion Florida State Board of Administration. During his six years at the Board, he managed a private equity portfolio with over $6 billion.
  • MBA in finance from Tulane University’s Freeman School of Business and a BS in engineering from Tulane’s School of Engineering

https://www.bloomberg.com/research/stocks/private/person.asp?personId=3720298&privcapId=37508382&previousCapId=7353516&previousTitle=Institutional%20Limited%20Partners%20Association

Lead Developers:

Jon Saperia - Enterprise Architect

  • Formally a Harvard Enterprise and Software Architect who has a system architecture background in network management and enterprise platforms
  • also has experience in encryption and authentication technologies for large commercial networks and enterprise networks.
  • Experience in managing software development teams on large scale projects
  • He has held architect positions at Digital Equipment Corp, IronBridge Networks, Ohia Networks, Ambient University, and Harvard University.

https://www.linkedin.com/in/jonsaperia/

 

Michael Anderson - Software Architect

  • His career includes roles as Senior Software Engineer, Technology Consultant, and Business Analyst for Commercial and Industrial Customers, System integrators, OEMs and Software Application Developers.
  • He was an early architect and platform developer and CTO at EnergyIX (now IXOT) where he co-architected the core software which enables Operational Technologies (OT), emerging Machine to Machine (M2M) and IoT technologies to share information and connectivity with Cloud and Enterprise applications while addressing security and data privacy challenges facing commercial and industrial customers.

 

Nick Etson - Enterprise Development and Integration and Software Architect

  • Experience in working in multiple sectors of business over the past ten years, most recently integrating API’s into multiple blockchains.
  • Beginning his career in the aerospace industry - systems administrator, network administrator, and software developer for Swales Aerospace.
  • During this time, he architected crucial enterprise infrastructure such as e-mail, HTTP, and DNS servers. His software related projects at Swales Aerospace ranged from developing accounting and task planning applications to niche subjects such as finite element analysis engineering software, 3D graphics programming and electrical engineering/embedded systems development for spacecraft ground support equipment.
  • Currently, he is a lead software developer for a start-up company focused on streamlining conferencing and collaboration solutions.

https://www.linkedin.com/in/nick-etson-2a002813/

Development team:

JP Maxwell

  • has been specializing in Software Development Project Teams since 1996 when JP set out to build teams that not only mastered the technical aspects of the Internet but also understood that aesthetics and usability were paramount.
  • BA in Communications from Trinity University
  • Over the past twenty years, he has lived in both New York and Austin, managing development teams for multiple local, regional, and national clients based in both markets.
  • His Linkedin profile does not mention a connection with the project

https://www.linkedin.com/in/jpmaxman/

Manuel Razzari

  • has been designing and building websites since 1996, and working with XHTML and CSS layouts since 2002. He is proficient in JavaScript, PHP, and Python (Django).
  • holds a Bachelor of Multimedia Technology degree and is an active Working Group member of IxDA.org’s Buenos Aires branch.
  • also a member of the UK-based Guild for Accessible Web Designers
  • Also, his Linkedin does not mention a connection with the project

https://www.linkedin.com/in/manuelrazzari/

Fernando Aramendi

  • graduated from UTN, Argentina, Fernando
  • has worked on web applications for 10 years, ranging from startups to large companies
  • expert in Python and related Python frameworks, he now works as a senior lead in product development and software architecture.
  • His profile does not mention connection with the project

https://www.linkedin.com/in/faramendi/

Advisory board of the project:

Project

The main pain point that Cognita is trying to solve can be summarized like this:

Cognida solution could be summarized as:

  • Blockchain Agnostic - Cognida delivers standardized security APIs for interaction with multiple blockchains
  • Distributed Permissions - Allows multiple stakeholders the capability of interacting and retrieving data
  • Trusted relationships - Ledger data is anonymized and unreadable outside trusted stakeholders
  • Secure Interaction with Service Providers - Single-payment interface across multiple vendors and services
  • Familiar Administration Functionality - Enables enterprise to manage permissions on remote and cloud systems

 

The Cognida Platform secures enterprise assets and provides a Service Interface

into a network of trusted vendors. This reverses the conventional “terms of services”

contracts that vendors require customers to sign. This approach enables enterprise

administrators to enforce their service policies with Cognida Service Network

Vendors including managing access to subscription data, enterprise assets and

enforcing data persistence/deletion policies.

 

Token use case

Cognida Foundation will issue the COG cryptocurrency to provide a single

cryptocurrency payment method for enterprise customers to utilize to pay for

settlement services.

The token is basically only a utility token with added centralized collateral insurance.
“Utilization of COG cryptocurrency to a fund paid into by Settlement

Providers provide the Foundation with tools to trigger a release of these funds

to customer accounts if a service provider fails to deliver on contractual

Agreements.”; WP, page 12

 

Token metrics

The Cognida token is an ERC20 token with a maximum supply of 550 million.

Roadmap

The only Roadmap that could be find now is only in Telegram groups pinned post.

2018

6/12 - Marketing Launch

6/20 - Private Sale

7/15 - Ethereum Based API (Wanchain) & Third Party Key Signing

7/20 - Network Launch

--Token Generation Event & ethereum based apis

--Blockchain Authorization Services

--Blockchain Data Integrity Services

--Python Scripting Environment

--Secure Private Data & Messaging

Q3/Q4

- Clinical Trial App Beta Launch

- IIoT Admin & Security

- Enterprise Apps

--Incentivised Community Development

--Cognida Foundation Governance

--Trusted Network Identity Services

 

Community and marketing

Most community activity they have is going on in their Telegram group https://t.me/cognida, 8620 members. The rest of their social media is with little activity and almost no members or subscribers. Their blog https://medium.com/@cognida has 3 subscribers and no posts. On Reddit https://www.reddit.com/r/CognidaNetwork/ they have 4 posts and 35 readers. Their Facebook https://www.facebook.com/cognida account has 35 subscribers. On Twitter https://twitter.com/cognidanetwork they are followed by 161 people. And on Linkedin https://www.linkedin.com/company/cognida/ they have empty profile with 1 follower.


Sparkster - Due Diligence Report

Summary

Pre-sale: June, 250 million Tokens offered

Public sale: 38 million Tokens

Whitelist: yes + KYC

Hard Cap: 30 000 000 USD

Total supply: 435 000 000

Token allocation: 67%

Token base price: 1 SPARK = 0.15 USD

Accepted currency: ETH

Underlying platform: Ethereum

 

Pros

  • Professionally skilled team with interesting advisors
  • Allowing creation of simple dApps/smart contracts and other software applications even for non-programmers
  • Working MVP
  • Aim to achieve 10 mil.+ TPS through sharding without sharing the global state of the network
  • Reasonable token metrics compared to some other projects

 

Cons

  • Claim that their platform can build a totally bug-free software
  • Decreased security of the individual data due to sharding without sharing the global state

 

80%

 

Team: 4/5

Project: 4/5

Token use case: 4/5

Token Metrics: 3/4

Roadmap: 2/3

Community and marketing: 4/5

Hype: 3/3

 

Description

The Sparkster Decentralized Cloud facilitates the ‘decentralized execution of Smart Software’, an evolution on Smart Contracts, across a network of cell phones, notebooks, laptops or other personal devices held by our network of miners.

These miners are rewarded in SPARK tokens for contributing spare capacity on their personal devices to the Sparkster Decentralized Cloud.

The team envisions a future in which decentralized networks can be far cheaper than traditional cloud computing from the likes of Amazon®, Microsoft®, Google® and IBM®. Given that cloud providers pay for: rack space, cooling, dedicated hardware, networking infrastructure, backup power, and support personnel; personal devices have near zero marginal cost per operation relative to cloud providers.

 

Team

Sajjad Daya - CEO

  • SVP Enterprise Technology at Syncoms USA - 3 years and 4 months - Syncoms is a global software development company, specifically focused on E-commerce webstore technology and SaaS ERP
  • Technical Support Engineer at Cisco -  2,5 years
  • CEO at Printerpix.com - 2 years and 3 months
  • CIO at Synchronized Communications (Syncoms) - 10 years

https://www.linkedin.com/in/sajjad-daya-b919015/

 

Amit Kumar - VP, Technology

  • Sr. Development Manager at Syncoms India - 7 years and 3 months
  • Sr. Database Manager at Wipro Ltd. India - almost 5 years - Wipro is a leading provider of IT services in India and Middle East region. Part of Wipro Ltd, the $6.98 billion conglomerate and global leader in technology-enabled solutions,
  • Sr. Project Manager at Ankh Software - 3 years and 2 months - He was managing the team and building an ERP Software for a Manufacturing business with end-2-end solutions.

https://www.linkedin.com/in/akdutt/

 

Shabeer Kirmani - VP, Evangelism

  • Director, Data Science at United States Department of Defense - 4 years and 3 months - Conducted a formal research and apply evaluation standards, descriptive statistics, and data management principles to translate complex data into meaningful content and present findings using verbal, written, and graphic communication, for Top Tier US Federal Governmental Institutions.
  • Pharmaceutical & Life Sciences Technology Manager at Accenture - 2 years and 10 months - Consulted for the Top Global Pharmaceutical & Life Sciences firms directly, including firms such as Pfizer and Fortune 50 Consumer Products Companies.
  • Engineering Manager, RF (LTE) at AT&T - 2 years and 3 months - Involved in Network optimization for LTE, 4G, and 3G

https://www.linkedin.com/in/shabeer-kirmani-53a29231/

 

Dayanie Rajeev - VP, Human Resource

  • HR Manager at Syncoms India - 4 years
  • HR Manager at IBM - 3 years and 3 months
  • Manager at Accenture India - 1 year and two months
  • HR Executive at Citibank India - 2 years and 4 months

https://www.linkedin.com/in/dayanie-r-928a00b3/

The team consists also of a marketing person and 16 software engineers.

 

Project

The Sparkster Platform enables you to build software without writing any code, by simply dragging and dropping blocks that are in plain English.

The Sparkster Decentralized Cloud will facilitate the execution of Smart Software using the Sparkster No-Code Platform, in a decentralized fashion. A miner can install the Sparkster “mining” app on their cell phone that will provide user-generated Smart Software with a local “Sparkster Runtime Environment (SRE).” The SRE would localize the architecture necessary for the execution and decentralized coordination of functions, workflows etc.

Main characteristics of their product are:

  1. Privacy – all data stored and accessed is deconstructed into transaction fragments, encrypted and disseminated across a network of nodes such that it cannot be of any meaningful value when viewed on a public ledger.
  2. Security – any devices operating on the network and interacting with client data are hardened such that any form of tampering to access data, while it is being processed, prevents the device from accessing the network.
  3. Performance – transaction latency must be comparable with traditional centralized cloud computing, but transaction throughput must exceed Tens of Millions of Transactions per Second.
  4. Material Cost Savings – Cost savings must be sufficient to justify the efforts involved in redesigning software.
  5. Architecture Transparent – Software designed in such environment must easily and automatically operate in a Decentralized environment, without requiring any knowledge or architectural design considerations for Decentralized environments by the software author.
  6. Blockchain Agnostic - Users must have the freedom to build software that can interact with any existing blockchain of their choice – all in plain English. Today, we have existing integrations with Ethereum and IOTA, but others such as NEO, Cardano, and Stellar are on our roadmap.
  7. True Decentralized Oracles – Integrate anything, whether it’s AI, IOT or your favorite API. Most importantly, integrate anything without any code – in plain English.

So far, the team has signed official partnerships with ARM® (one of the worlds largest computer chip designers) and Libelium® (an industrial sensor and gateway distributor).

The analysis of their current competition in the field:

To achieve scale, Sparkster will make its Platform free to use in a personal capacity. While this will be limited to a certain number of transactions per month, in a personal capacity, this limit can be lifted by referring other users. The use of our Platform in a commercial capacity will be subject to ongoing fees in the form of user licenses, transaction fees, device fees, storage fees etc.

Smart Contracts enable the platform to build, execute and adjudicate transactions that have financial consequences in the real world. They currently support two versions of Smart Contracts: Ethereum Smart Contracts and IOTA Smart Transactions via IOTA Flash Channels.

Given that clients desire to keep their company’s data private, they eliminate the necessity of maintaining Global State. This is significant because it allows to shard the Distributed Hash Tables by client groups. Most importantly, one shard never needs to have any awareness of any other shard. Although this may lead to higher centralization, or more probably, less security of the state of the individual shard, cause it will not be stored on as many nodes as it would be if each node would store the global state.

Technology layering of the network:

For consensus algorithm the team has chosen: The Federated Byzantine Agreement System (FBAS) proposed by the Stellar Network(Mazieres, 2016). It has proven to easily perform 1,000 transactions per second with a latency of just 2-5 seconds per confirmation.

 

Token use case

Companies wishing to run the software will pay for the execution of software on the Sparkster Decentralized Cloud in SPARK tokens. The tokens would then be issued to the “miners” for the use of their cell phone or desktop processing power. In addition, to Compute Nodes, Storage Nodes can join our network. These nodes would be responsible for decentralized data persistence (documents), and for maintaining a repository of the components designed by our community of users.

Miners, both Compute and Storage, stake tokens as collateral to ensure they operate honestly. Verification nodes validate transactions generated by Compute nodes and persisted by Storage nodes. If these verification nodes detect any illicit activity, they cease the stake advanced by these miners as a bounty for detecting illicit behavior.

When publishing to the platforms Marketplace, authors can opt to charge for the use of their contribution. While the author is free to choose the amount to charge, the payment will be made with Spark tokens.

 

Token metrics

  • 1% of total token supply will be distributed to their own charitable organization: The Dreamers Foundation. The mission of this organization is to promote education and technological innovation amongst the world’s poorest people and to create technology that promotes their growth, independence and enhances their sense of self-determination.
  • 10% of all tokens will be reserved to support the current and future team.
  • 20% of all tokens will be reserved for shareholders of Sparkster as compensation for their investment over many years to build the Sparkster platform. Team and Initial Investor tokens will be vested for a period of 2 years.
  • 2% of tokens will be retained to facilitate liquidity for an exchange listing.
  • 67% of all tokens will eventually be sold via token sales in phases

More details about the token sale can be found in this blog post:

https://steemit.com/ico/@sparkster/sparkster-crowdsale-announcement

 

Roadmap

The roadmap shows mostly the past achievements and history of the project.
As for future goals, the Cloud should be operational before the end of 2018 and most important goals for 2019 are the integration with other blockchains and focusing on Enterprise customers.

Community and marketing

Their Telegram https://t.me/SparksterICO has more than 55k members. Their Steemit blog https://steemit.com/@sparkster has 3 posts. On Twitter https://twitter.com/sparkster_me/ they have more than 12,6k followers. Their Youtube channel https://www.youtube.com/channel/UCAkXXoN7cFSEN-4SFtLFmHQ has 6,6k subscribers.

There is also strong interest in their Reddit account https://www.reddit.com/r/Sparkster/, about 5800 readers.  Their Facebook https://www.facebook.com/sparkster.me/ is followed by almost 7500 people and their Linkedin profile https://www.linkedin.com/company/sparkster_me/ has about 3000 followers.

 


Ether Universe - Due Diligence Report

Summary

Total supply: 100 000 000 000

Token allocation:  30%

Accepted currency: ETH

Underlying platform: EOS

Ticker: ETU

 

Pros

  • An ambitious project with demanded use case
  • Vesting periods on tokens allocated for the team and marketing purposes
  • Quite detailed roadmap

 

Cons

  • Very optimistic assumptions about the revenues of the platform in the future (360k USD per an hour - calculating with a usage of 10k transactions per second)
  • A strong competition which will most probably be only growing in the future
  • Not the best token metrics (the team keeps most of the tokens for various reasons)
  • Not very engaged community, numbers show that most of the community are “flippers”
  • Team members links to Linkedin profiles are not working.

 

54%

 

Team: 2/5

Project: 4/5

Token use case: 2/5

Token Metrics: 2/4

Roadmap: 3/3

Community and marketing: 2/5

Hype: 1/3

 

Description

Ether Universe provides cross-chain services to EOS, Ethereum, Bitcoin and other mainstream networks. Industry, commerce, real estate, finance and other organizations and corporations can also build their own blockchain platforms. Different industries can form their own alliance chains and enjoy the cross-chain services provided by Ether Universe. In the ecosystem of Ether Universe, the team encourages and support third-party developers to develop high-quality applications including: DApp, protocol, smart contract, etc. They also encourage third-party developers to join us to work on the cross-chain platform of Ether Universe and drive the landing of blockchain technology.

 

Team

Many links for Linkedin profiles are not working or are linking to the official Linkedin profile of the ETU and not to individuals person profile.

 

vast zhao

(according to their website)

  • Senior Blockchain & Software Engineer
  • Early Pioneer of Blockchain Technology
  • Authored 10 theses about robots
  • Robotics algorithm specialist

https://github.com/vast-z

 

Eavean Yu - Software Engineer

  • A former security researcher at Orion Labs Former
  • Software Engineer at China Railways

https://www.linkedin.com/in/eavean-yu-170a1b162/

 

Somiar Zhang - Blockchain engineer

(according to their website)

  • Blockchain engineer, cryptocurrency specialist
  • Experienced in the distributed systems and data science
  • Former Software Engineer at Baidu

 

Gump Lee - Blockchain developer

(according to their website)

  • Ethereum and smart contract specialist
  • Former Data Scientist at Baidu M.S., CS at UESTC

 

Project

Ether Universe applies the mixed technology of “notary scheme + sidechain/relays” to cross chains.

One of its important commercial functions is to allow the exchange of digital assets among different chains directly instead of through centralized digital currency exchanges. Similarly, more and more traditional industries may transform their productions into token and record them on the blockchain. Ether Universe will build a strong and competent infrastructure for blockchain networks. It shall provide a series of external services including flexible status channels and service APIs. Any applications based on Ethereum, EOS and etc. can make use of the service provided by Ether Universe and implement inter-blockchain information exchange functionalities. Be it a public blockchain, a private blockchain, an alliance blockchain, or an application based on a blockchain, it may integrate with Ether Universe seamlessly to allow high-speed and secure cross- chain connection and asset exchange at an extremely low cost.

ETU allows all accounts to use an exclusive, human-readable name as an index with the length between 2-32 characters. Account users can choose their own account names. ETU virtualizes ETH or other blockchain accounts and designates a key for each account. The users can use the keys to access subchain logic on different blockchains to exchange information.

Ether Universe is structured over the high-performance third-generation public blockchain which allows 10,000 transactions per second. Ether Universe adopts DpoS consensus mechanism and is equipped with 48 service node. Verification takes only 2-30 seconds which means a transaction can be completed within 30 seconds. ETUChain uses a light-weight Merkle proof (LCV), independent of the trust of other block producers to ensure a minimum expense for any block producers to sync with other blockchains.

ETUChain is the base chain of Ether Universe, a public blockchain based on EOI.IO whose cross-chain functions are developed over EOS. The performance of EOS chain allows ETUChain to provide data services with high throughput and processing capability and low latency. It also supports multiple functions of EOS including accounts, the certainty of applications, concurrent execution, Token model, resource usage and management, script, virtual machine and cross-chain communication.

ETUChain shares computing resources with EOS chain or other EOS side chains. ETUChain has its own committee, witnesses, and computing resources. The computing resource sharing mechanism of ETUChain allows providers of computing resource to share their resource with multiple chains.

Notaries, guarantors, and miners

Notaries and guarantors are introduced in ETU. At the early stages, there are only a very few miners to participate in the verification process which reduces the security of the entire system if verifications only depend on miners. Therefore, notaries will vote with the miners to decide the unlocking of tokens. Different notaries have a different weight which is decided by the system construction schedule and guarantors. The guarantors are a community with weight. They trust the security deposit to the notaries, elect notaries or groups to represent them in the voting.

ETU doesn’t want to use all the miners to vote and generate verification information even though it is a relatively secure plan, it dramatically increases system latency. Therefore, ETU will randomly choose a proportion of the miners from its system to vote. The proportion is dynamic. When the base number of miners is small, all miners will be chosen to vote while the base number is huge, only some will be chosen. All miners have reputation value which is linked with random seed to ensure miners with extremely low reputation value will never get to vote so that the system security is guaranteed.

The security is also strengthened by the 48 supernodes Ether Universe set up around the globe. Even under a hacker attack, as long as the majority of the nodes are functioning normally, the whole network would remain unaffected.

The Latency of the network

While communicating with EOS blockchains, the average time is around 45 seconds relying on the appointment interest proof and 21 miners. If miners on a certain chain don’t wait for the transaction confirmation, the transaction would be seen as accepted and then revoked which will affect the effectiveness of chain consensus. The time needed to communicate with other types of blockchains depend on the confirmation time of the notaries and miners. While communicating with EOS blockchains, the average time is around 45 seconds relying on the appointment interest proof and 21 miners. If miners on a certain chain don’t wait for the transaction confirmation, the transaction would be seen as accepted and then revoked which will affect the effectiveness of chain consensus. The time needed to communicate with other types of blockchains depend on the confirmation time of the notaries and miners

 

Token use case

Ether Universe consists of a base chain and subchains based on different blockchains. The base chain is the most essential part of the entire ecosystem which bears the interchange logic of the whole platform and records all exchanged information. The tokens generated from the base chain will be used to pay for the GAS cost for each cross-chain service. The subchains assist the base chain to make two-way anchoring towards other blockchains. Users play the role of consumers in the ecosystem. They purchase GAS using ETU tokens to get cross-chain services.

ETU bears the function of payment, circulation, and exchange on the platform. As both the need for inter-blockchain transactions and the number of platform users increases, plus the sustainable development of eco-economy, the need for ETU will also increase which could result in the rise of ETU value. ETU can be also used as a payment to purchase Ether Universe cross-chain cold wallet or third-party application services.

Ether Universe locks ETU position to motivate the users without short-term transaction needs and reduces circulation volume may also cause inflation.

 

Token metrics

In order to motivate all participants in Ether Universe ecosystem, promote a healthy development of the platform, Ether Universe releases 100 billion platform token ETU as the “fuel” of the ecosystem which can be used for payment in cross-chain transactions.

As seen above only 30% of the whole supply will be offered in pre-sale.

Ether Universe reserves 20% of its tokens as an eco-fund that will be used to incubate or support high-quality application in the ecosystem and motivate the top contributors.

25% of the tokens are used for operation and marketing of which 5% are used to motivate early stage community users. As for the remaining 20%, 50% of the total amount will be released every year and will be fully released in the fifth year.

15% of the tokens will be used as a reward for the core team. Ether Universe promises that no more than 10% of the entire proportion will be unlocked each season

Management Foundation: This part of the tokens will be used to motivate the excellent contributors in the ecosystem as well as maintain the daily management of the foundation.

 

Roadmap

A three-phase promotion strategy is adopted:

In Phase One, Ether Universe will reach cooperation with different subchains in order to reach the purpose of using their nodes to help verify transactions for Ether Universe.

Ether Universe will rely mainly on notaries and guarantors for transaction verification in Phase Two. Trust nodes accumulated in the previous stages can act as guarantors. In this phase, miners on various blockchain platforms start to join in the verification

In the third phase, miners, notaries, and guarantors will all participate in the verification with the purpose of guaranteeing the steady and iterative development of Ether Universe.

 

  • Jan 2018, complete the market research of cross-chain value transfer over EOS, Ethereum, and other main blockchains.
  • Jan 2018, completed technology research and confirmed system framework.
  • Jan 2018, the official launch of the project. Official website 1.0 went online.
  • Feb 2018, research is completed. Platform product format is confirmed. Mar 2018, complete overseas community construction. Reach more than 180K overseas community users.
  • Apr 2018, Angel round funding started. Apr 2018, initial cross-chain technology framework built on EOS test network.
  • Jun 2018, Funding started in countries where digital currency investment is illegitimate.
  • Jul 2018, ETU listing on one of the top 15 global digital currency exchanges.
  • 23 Sep 2018, published first on-chain asset exchange platform. Sep 2018, set up supernodes.
  • Oct 2018, test subchain compatibility of EOS main chain.
  • Dec 2018, test cross-chain interaction between EOS and Ethereum network.
  • Feb 2019, release Beta 1.0 version. Open source code at Github.
  • Mar 2019, officially launch cross-chain API and relative documents.
  • Apr 2019, release Beta 1.0 cross-chain wallet.
  • May 2019, carry out multi-center cross-chain node network security protocol using independent nodes.
  • Jun 2019, test and optimize the main network.
  • Aug 2019, build Ether Universe eco platform and accept third-party developer.
  • Oct 2019, launch the first series of third-party applications.
  • Nov 2019, build developer communities and optimize the entire platform with developers.
  • Jan 2020, digital assets from traditional industries begin to integrate into Ether Universe.

 

Community and marketing

Their Github https://github.com/EtherUniverse is not very active, they only forked few repositories they needed, but their only coding contribution so far is for token distribution and Telegram bot. On Linkedin https://www.linkedin.com/company/ether-universe-labs/ they have 23 followers.

Their Twitter https://twitter.com/ETU_Official has about 1700 followers. On Facebook https://www.facebook.com/EtherUniverse/ they have almost 2000 followers. Their Telegram https://t.me/ETU_Official channel has about 5300 members. They also have another bigger channel - for a community - on Telegram https://t.me/EtherUniverse and that has more than 72 000 members.
Although they have a misleading information on their website:

The differences between the number of people who are following their social media and who are just following Telegram, lack of Discord or Slack channel and most importantly lack of any discussion on Reddit, shows that the community is just building hype and there is not really a strong engagement in the long-term success of the project. They also have no official blog. Also, most of the members on Telegram seem to have come just because of the airdrop, there is not that much activity in the channel compared to how many people are there.

On the website, they claim to have a lot of partnerships, but it is questionable which of those are real partnerships. For example, they claim to have a partnership with Yahoo Finance, but it seems that it only included that they wrote a small and unengaging article about them.

 

 


Fundamental analysis of Shipchain

Conclusion

The team has strong experience in the positions that they hold in the project. There was a good opportunity to jump into the project with a discount because of the recent bad news, but the price quickly recovered. Liquidity is average and the initial supply distribution was not as fair as it could be compared with other projects. The revenue model is good but as for perspective for the future, they already have competition both on-chain and off-chain. What is unfortunate is that there is no MVP available yet. What we also see as negative for the long term is that the token is not providing any holding incentive or passive income, therefore the investors only bet on the success of the platform and that it will be used in the future by many participants.

 

Team

The core team consists of 11 members and the project has 14 advisors.

JOHN MONARCH - Chief Executive Officer

  • CEO at Direct Outbound Services LLC for 6 and a half year - Direct Outbound is a leading BPO provider, specializing in Call Center and Fulfillment services.  Handling thousands of customer service calls daily, and thousands of packages shipped daily
  • CEO at Connexus Inc. -  for more than 6 years - A Direct Response Marketing launchpad. Connexus Inc develops full direct response offers for our clients from end to end, handling all services in-house.

https://www.linkedin.com/in/johnmonarch/

https://twitter.com/realjohnmonarch

 

LEE BAILEY Chief Technology Officer

  • Co-Founder of Net Prophet Technologies - 2 years
  • Founder of Annex Tracker - 5 years - High volume cloud-based campaign optimization utility for affiliate marketers.
  • President of Leeward Bound Corp - almost 10 years - IT Business Consulting

https://www.linkedin.com/in/leewardbound/

https://twitter.com/leewardbound

 

SAM RUSANI Chief Revenue Officer

  • Founder of Pure Rock Media Group - more than 6 years - manage talent and create digital campaigns for brands.
  • Co-Founder - now advisor of Professional Noisemakers - Professional Noisemakers is a PR/Branding agency specializing in "professional noisemaking." Unlike traditional agencies, we do not just write press releases and hope for the best. In fact, we prefer not writing them at all. Instead, we create unique stories that appeal to the platforms we work with.
  • Board Member of Swedish-American Chamber Of Commerce - Los Angeles - more than 7 years

https://www.linkedin.com/in/samirusani/

https://twitter.com/SamRusani

 

BRIAN D. EVANS Chief Marketing Officer

  • Founder, CEO of BDE Ventures - more than 13 years - A diversified advertising and marketing consultancy that offers guidance on acquiring users and traffic, generating sales, raising money, building start-ups.
  • Founder of Influencive - Influencive is an online publication that publishes unconventional business, motivational and entrepreneurial wisdom.

https://www.linkedin.com/in/briandevansla/

https://twitter.com/briandevans

 

ROGER CROOK Chief Strategy Officer

  • CEO of Capital Springboard - 2 years - a Singapore based largest peer-to-peer invoice financing platform which allows accredited investors to purchase short-term outstanding invoices, with the ability to realize annualized returns of 11-25%, during a 90-day investment window with low risk.
  • Board Advisor at Everoad, ex-Convargo - 2 years - a start-up LogiTech peer-to-peer marketplace app company based in France. The business matches customers with road freight shipments with transportation companies that have a capacity for utilization throughout France.
  • Chairman & Advisory Board Member at Innova Capital - 2 years - a private equity company with European wide portfolio of companies. He is chairman and board advisor to one of the held companies.
  • He is also Advisor in many other projects

https://www.linkedin.com/in/rogercrook/

 

MAGNUS DUFWA Lead Developer, EU

  • ICO / Smart Contract Auditor, Smart contract developer, ICO Advisor at BlockPro AB - 8 months
  • IT Specialist at Zinzino - almost 4 years - Zinzino AB (publ.) is a direct sales company which operates throughout Europe and North America.

https://www.linkedin.com/in/magnusdufwa/

 

Trend (TA)

Currently, the price of Shipchain dropped due to the recent news:
The securities division of the South Carolina’s Office of the Attorney General has ordered blockchain startup ShipChain to stop operating in the state. The securities commissioner sent a cease-and-desist order to the company for allegedly violating securities laws.” https://www.ccn.com/operation-cryptosweep-shipchain-ordered-to-cease-and-desist-in-south-carolina/

But since then it rose again to about 50% of the drop caused by the bad news.
It may be connected with the statement from the project:
“The startup emphasized that it only sold its tokens to accredited investors, adding "that none of the purchasers of SHIPs in that initial sale are South Carolina citizens or businesses." Further, the company claimed that "ShipChain is not aware that SHIPs were even offered in South Carolina or to any South Carolinian during the private sale."

ShipChain chief executive John Monarch repeated these claims, telling CoinDesk that "ShipChain did not conduct a public sale, nor sell to South Carolina residents/businesses, and has no plans to in the foreseeable future." “

https://www.coindesk.com/shipchain-pushes-back-against-securities-violations-claims/

We can also see a dropping volume currently but it is still not a very significant drop.

Technology

The security and scaling of the project are dependant on Ethereum and the success and evolving on Ethereum. Currently, it is not ready for a mass usage when it comes to scaling.

 

NvT ratio is not available, but currently, there is active transferring of the tokens, but it is very probably caused by the speculators.

 

The roadmap is ending on Q1 2020 when they want to start focusing on community open source projects are sponsored to accelerate app development on the ShipChain blockchain. Something on the roadmap will be most probably delayed or rescheduled due to the last news that hit this project badly. For example, they planned this to be finished on Q4 2019 - Relationships are established with government regulators to cement ShipChain as the favored tracking technology vendor. Due to the current problem they have with regulators, they should focus on this part of the roadmap as a priority.

 

Social media

On Twitter https://twitter.com/shipchain they have about 9k followers, on Telegram https://t.me/shipchain they have almost 31k members. On Linkedin https://www.linkedin.com/company/shipchain/ they are followed by 867 followers. Their Instagram https://www.instagram.com/ship.chain/ has more than 7800 followers. More than 11k followers are subscribed to their Facebook https://www.facebook.com/shipchain feed.

On the negative side, there is no official link to their blog or Reddit on their website.
Their Medium blog https://medium.com/@shipchain has less than 100 followers and no content. Reddit https://www.reddit.com/r/shipchain/ has 1200 readers but it may be unofficial, most of the activity seems to be there recently because of the negative news.

 

Developers

On their Github https://github.com/shipchain there is only repository for the token and no activity at all. There is no community developers participating on this project right now.
When it comes to developers support there is also not much to say, their activity is focused mostly on social media, notably Twitter and Telegram.

 

Business model

From ICO they got budget of 30 mil. USD.
They already have some partners, notably Perdue Farms - the parent company of Perdue Foods and Perdue AgriBusiness, based in Salisbury, Maryland. Perdue Foods is a major chicken, turkey, and pork processing company in the United States. Perdue AgriBusiness ranks among the top United States grain companies. Annual sales exceed $6 billion. ShipChain and Perdue Farms will work on a pilot project to implement blockchain technology through key parts of Perdue Farms’ supply chain.

And also Direct Outbound Services LLC, is a full-service warehousing and fulfillment center headquartered in Greenville, SC. Direct Outbound has grown into several hundred thousand square feet of warehousing space, ships hundreds of thousands of e-commerce and retail packages per month, and assists numerous government agencies with their shipping and bulk mail needs.

The team described vaguely how they will use the funds from the ICO.

 

As for the revenue model.

ShipChain will employ a two-fold revenue model, focusing on both the Small and Mid-size Business market (SMB), as well as Enterprise platform development. This includes the following:

  • ShipChain Web - web platform will enable shippers to connect directly to carriers, without the traditional brokerage model. Fees will be a low percentage of the cost of shipping, and ShipChain will avoid having to hire typical telemarketing brokers, keeping the cost of selling at a minimum.
  • ShipChain Enterprise -  custom sidechain solutions for large enterprises that need to utilize different data sources and information. ShipChain will do this as a development contractor, with all new sidechains still tying into the main blockchain.

 

Product

So far there is no product out for the public to try. According to roadmap they should be already testing freight-tracking pilot program with Perdue Farms.

 

Liquidity and supply

Current daily volume is 32,40 BTC with a total market cap of 1971 BTC. This is not very big liquidity and a fairly small order in tens of thousands of dollars would clean a significant portion of the order book and cause a large slippage.

 

Supply:

Only 45% of the tokens were offered to the public (including pre-sale).
12% seems a bit high portion for bounties and advisors.

 

Total supply is 500 mil. tokens, 170 657 181 are now in circulation.

 

Income incentives

A utility token that is used for on-platform purchases and incentivization of the participants. But no income incentive for holding or buying the token apart from speculation on price movement.


Thunder Token - Due Diligence Report

Thunder Token

Pros

  • Experienced team members
  • Interesting approach to solving the performance boundaries of blockchains

Cons

  • So far only 5 team members and the project is in a phase of hiring new talents

Team: 4/5
Project: 5/5
Token use case: ?/5
Token Metrics: ?/4
Roadmap: 1/3
Community and marketing: 2/5
Hype: 1/3

Description

Adding a “fast-path” on top of a standard blockchain called the “slow-chain”. In normal conditions, all transactions are instantly confirmed on the fast-path, and we barely have to use the slow-chain. If the fast-path is ever disrupted, a provably correct mechanism is invoked to fall back to the slow-chain, and nodes can continue to communicate and confirm transactions on the slow-chain. Once the problems are diagnosed, the fast-path will be revived.

 

Team

The team currently consists of 5 people + one intern and as they state on their website, they are hiring engineers, product managers, and others who are committed to creating a high-performance blockchain.

Chris Wang – CEO, Co-Founder

  • VP of Tech in The Walt Disney Company for 2 years
  • Founder of Playdom – Playdom was acquired by Disney Interactive Media Group in 2010.  Playdom produces a diverse portfolio of casual games for the rapidly growing platform of social networks, including Facebook and MySpace. With over 47 million monthly users and #1 rated games.
  • PhD, Computer Science at Carnegie Mellon University

https://www.linkedin.com/in/chris0804/

Elaine Shi – Co-founder and Chief Scientist  

  • Co-founder and co-director of the Initiative for Cryptocurrency and Contracts (IC3)
  • Associate Professor. Computer Science at Cornell University
  • PhD, Computer Science at Carnegie Mellon University

https://twitter.com/elainershi?lang=en

https://angel.co/elaine-shi-1

Rafael Pass – Scientist

  • Associate Professor at Cornell University
  • PhD, Computer Science at MIT

https://www.linkedin.com/in/rafael-pass-7aa7361/

Jianqing Zhang – Core Engineer

  • Senior Software Engineer at Uber for 1 year and 2 months
  • More than 5 years as Security Researcher at Intel Labs
  • Software Engineer at IBM China for 1 year
  • PhD, Computer Science at University of Illinois at Urbana-Champaign

https://www.linkedin.com/in/jianqingzhang/

Chris Li – Engineering Director

Project

State machine replication has been a central abstraction in the 30 years of distributed systems literature. In a state machine replication protocol, a set of nodes seek to agree on an ever-growing log over time. It requires two critical security properties:

  1. consistency, i.e., all honest node’s logs agree with each other although some nodes may progress faster than others
  2. liveness, i.e., transactions received by honest nodes as input get confirmed in all honest node’s logs quickly.

 

The low latency and poor scalability of Nakamoto’s blockchain protocol are typically viewed as the main bottlenecks for Bitcoin as well as other cryptocurrencies. The Thunderella paradigm provides a very practical and simple approach for overcoming these issue. It shows how to build on top of currently running blockchains, to enable “optimistic instant confirmation” of transactions. Additionally, note that in that protocol, players only need to send transactions to the leader, who in turn lead the committee to confirm the transaction. Most notably, the underlying blockchain is essentially only used when something goes wrong, and blocks need not be distributed to the whole network before getting confirmed; thus, Thunderella also solves the scalability issue with Nakamoto’s blockchain protocol. Of course, both of these guarantees are only “optimistic”— but arguably, under normal circumstances, one would expect 3/4 of the players to act honestly, and the leader could be incentivized (paid) to perform its job (and if it doesn’t, will be kicked out). Thus, the belief is that their approach is a practically viable approach for circumventing the main bottlenecks of today’s cryptocurrencies.

 

Thunderella is also a constant factor faster in the fast path than most PBFT- or Paxos-style protocols. PBFT-style protocols typically require multiple rounds of voting even in the normal path (c.f. Thunderella has exactly one) — and the latter rounds are necessary to prepare for the possibility of a view change. Although it is possible to compress the normal path to a single round of voting, this is typically achieved either by sacrificing resilience (e.g., tolerating only one-fifth of the corruptions) or by adding yet another optimistic layer on top of the normal path — thus further complicating the already complex protocol.

 

Classical modeling techniques in the distributed computing and cryptography literature typically treat crashed nodes as corrupt, and thus crashes would count towards the corruption budget. Thunderella considers a permissioned model in which crashed nodes that are not under adversarial control are treated not as corrupt, but rather as honest but “sleepy”. Such a “sleepy model” was first proposed in the recent work [Rafael Pass and Elaine Shi. The sleepy model of consensus. In Asiacrypt, 2017]. In the sleepy model, the set of online and honest nodes in adjacent rounds may be completely disjoint; and nodes can go to sleep and then wake up later.

At a high level, the sleepy consensus protocol is very similar in nature to the original Nakamoto blockchain — while Nakamoto’s blockchain uses proof-of-work to elect random leaders, the sleepy consensus protocol emulates the random leader election mechanism without relying on proof-of-work.

 

Recent work of Rafael Pass and Elaine Shi showed that the following interesting facts:

  • State machine replication is possible in such a permissioned, sleepy model, as long as in every round, the majority of online nodes are honest
  • Interestingly, no known classical consensus protocol can achieve state machine replication in the sleepy model, even when we are guaranteed that 99% of online nodes must be honest in every round.
  • Moreover, the honest majority assumption (among online nodes) turns out to be necessary to realize state machine replication in the sleepy model.

 

The basic Thunderella Protocol approach assumes three logical entities:

  • miners of the underlying blockchain;
  • a leader; and
  • a committee

 

Token use case

Most probably the token/currency will be used as a collateral for leaders and also as a value transfer.

 

Token metrics

Not disclosed yet.

 

Roadmap

Not disclosed yet but the testnet should be released in June of 2018.

 

Community

Only social media where they are currently most active is Twitter https://twitter.com/ThunderToken where they have about 1600 followers. On Linkedin https://www.linkedin.com/company/thunder-token-inc/ they have 256 followers and on Facebook https://www.facebook.com/thundertokens/ just 6.

The team is now more active in participating on various events rather than growing their social media presence.


Liquidity.Network - Due Diligence Report

Pre-sale: 14.2.2018 - 8.3.2018

Public sale: June 14th of 2018

Whitelist: yes + KYC

Hard Cap: 27 000 000

Total supply: 100 000 000

Token allocation: 65%

Token base price: average price in pre-sale Dutch auction = 1429,351 LQD/ 1 ETH

Accepted currency: ETH

Underlying platform: Ethereum, ERC20

Ticker: LQD

Funds: Company

 

Pros

  • Already functioning product - testnet
  • Aiming to solve one of the biggest problems in cryptocurrency space
  • Academic team members with a proven contribution to research in blockchain

 

Cons

  • In near future, it will be only compatible with EVM blockchains
  • The token does not have very strong incentive for the investor

 

77%

 

Team: 4/5

Project: 5/5

Token use case: 2/5

Token Metrics: 4/4

Roadmap: 2/3

Community and marketing: 3/5

Hype: 3/3

 

Description

The Liquidity.Network is a non-custodial, blockchain settlement system supporting off-chain payments (e.g. Ether/ERC20). It is operational under https://wallet.liquidity.network and supports millions of users securely, reducing transaction costs significantly and enabling the mainstream adoption of blockchain. Liquidity is trustless, does not require rigid funds to be locked up, supports off-chain rebalancing, easy routing, and free channel establishment.

 

The Liquidity.Exchange is a non-custodial off-chain exchange. The Liquidity.Exchange is designed to not hold any funds (non-custodial) while performing atomic swaps off-chain. As such the exchange is resistant to blockchain congestion and excessive transaction fees. Scalable to centralized exchange throughput and beyond.

 

Team

Currently expanding their team on positions:

Arthur Gervais, PhD. - Co-founder - Obtained his PhD from ETH Zurich (https://www.ethz.ch/en/the-eth-zurich/portrait.html) on the topic of blockchain security. His academic papers can be found here: https://scholar.google.com/citations?user=jLr_xi4AAAAJ&hl=en  

  • He is also CEO and Founder of Hatforce - Hatforce is a scalable on-demand security services company providing bug bounty security testing services.
  • Co-founder of the smart contract formal verification tool securify.ch - providing Formal Verification of Ethereum Smart Contracts

https://www.linkedin.com/in/arthurgervais/

https://twitter.com/hatforcesec?lang=en

http://arthurgervais.com/

https://github.com/arthurgervais

 

Rami Khalil - Co-Founder - He is about to obtain his Master from ETH Zurich. His academic papers can be found here: https://scholar.google.com/citations?user=0fNsmSQAAAAJ&hl=en

  • Inventor of REVIVE - a decentralized protocol to rebalance payment channels without on-chain transactions.
  • He was part-time Security Software Engineer for Gnosis

 

https://www.linkedin.com/in/rkhal/

https://twitter.com/the_rami_khalil?lang=en

 

George Sedky - Blockchain & Security Engineer - He is a research focussed IT security enthusiast. Finishing his BSc at the German University in Cairo has over 3 years experience in software engineering, designed cyber defense tools.

Previous job positions:

  • Software Engineer at Toptal

  • Information Security Intern at Infineon Technologies

  • Software Engineer at simplerApps Software Solutions Ltd. (BC, Canada)

 

https://www.linkedin.com/in/george-sedky-b0978212a/

 

Guillaume Felley - Developer - He studied at EPF Lausanne and ETH Zurich in Switzerland. He is now finishing his master degree at Imperial College London doing research in the field of Blockchain. He built TLS-N, a blockchain oracle system.

https://twitter.com/guillaumefelley

 

Thibault Meunier - Also he is about to obtain both his Master but from Imperial College London and a French Engineering diploma from ENSEEIHT. Previously at CERN, he rebuilt their main front-end hosting website, an entry point for more than 14000 websites.

https://www.linkedin.com/in/meunierthibault/

 

Janine Videva - She is a FinTech marketing and communication professional since 2016, well connected as former communication associate for a leading Swiss FinTech association. MSc degree in Corporate Communication from USI and a Masters in Digital Marketing.

https://twitter.com/janinevideva

https://www.linkedin.com/in/janinevideva/

 

Mohammed Kasstawi - He is the founding partner of zk Capital.

https://twitter.com/elkasstawi?lang=en

https://github.com/kasstawi

 

Imran Khan - An Advisor and partner at zk Capital.

https://twitter.com/lmrankhan

 

There is one another member of the team - Tony Tran, but we could not find any official profile of his.

 

Project

The Liquidity.Network allows any member of a payment hub, to pay any other member of a payment hub with the allocated funds and it operates with simple routing designs, avoiding the complexities faced by Lightning and Raiden. Also offers instant and off-chain channel establishment, as already operational under https://wallet.liquidity.network. Liquidity is designed such that many hubs can be interconnected in a network of hubs to provide redundancy, similar to a network of Lightning peers. A hub is not a bank nor a custodian. A hub can choose to not forward payments. If that were to happen, the user can simply remove his funds from the hub’s smart contract, which the hub operator cannot prevent. The user would then join another hub.

The Liquidity.Exchange performs instant atomic off-chain swaps without holding user funds and is resistant to excessive on-chain transaction fees. It can still operate under blockchain congestion, provides a more stable and professional service level. Because the Liquidity.Exchange performs the atomic swaps off-chain these are instantaneous and can reach trading speeds of traditional centralized exchanges.  

Multiple Liquidity.Network payment hubs can be interconnected. Similar to traditional payment channels, two users of different payment hubs are eligible to perform off-chain payments across different interconnected payment hubs.

The design of the Liquidity.Network and Exchange are centered around the notion of universal hubs. As such, a user that is joining a hub, can transact his funds with any other member of the hub, instantly, off-chain and therefore at significantly lower costs than regular on-chain transactions. The funds are no longer locked between only two users, but accessible to thousands of other users on the same hub. At the same time, the funds are secured by the blockchain, other users can’t steal other user’s allocated funds.

The Liquidity Ecosystem is currently implemented for Ethereum and enables millions of users and payment processors to exchange crypto.

REVIVE (https://eprint.iacr.org/2017/823.pdf) is an integral part of the Liquidity.Network and allows different hubs to rebalance their respective balances.

The Liquidity.Network is deployed since the beginning of March 2018 on the Ethereum testnet under https://wallet.liquidity.network. It’s fully operational and has shown to work stable. Users can create Liquid Ether from their on-chain Ether and then transmit this off-chain to a recipient. The recipient can forward the off-chain Ether or choose to withdraw the Liquid Ether, to create on-chain Ether. Fully bi-directional transfers, working on Desktop as well as on mobile with Dapp browser apps. Dedicated mobile app under https://mobile.liquidity.network.

The mainnet should be released in the coming months.

Currently, the project is backed and in partnership with Danhua Capital (DHVC), zk Capital, ZMT Capital and YouBi Capital (of those they can openly name)

Token use case

Neither the security nor the usability of the core Liquidity.Network protocol fundamentally relies on the usage of a utility token.

The LQD Token’s primary purpose is to be used to access premium features in the Liquidity. Network (e.g. Service Level Agreements). That is for example to guarantee a particularly high number of transactions per second, the user would need to provide a certain amount of LQD tokens to the hub provider.

End users will not be encumbered with having to interact using LQD tokens in regular usage scenarios but for commercial users and others with high throughput requirements, remuneration for access will be mandatory in the form of LQD tokens.

A core part of the vision for an open network is an open marketplace for payment processing, whereby any hub operator and a commercial user may advertise their payment processing services. The purpose of this marketplace is to strengthen the utility value of the LQD token.

The Token allows the holder to participate in the Liquidity Network - it is an access Token to pay for auxiliary services (e.g. channel monitoring). LiquidChain GmbH plans to operate several Liquidity.Network hubs on top of the Ethereum blockchain building the foundation for instant and cheap transmission of crypto. The Liquidity.Network team will offer to run an auditing service to its users, in case they wish to have added security against 3rd party hubs. Payment for this added value monitoring service will only be accepted in the form of LQD tokens.

 

Token metrics

The Token symbol is LQD. There will be 100 Million LQD Token created, and a fixed 50% of these Token will be sold during the public sale (additional 15% was sold in public pre-sale).

Tokens are sold in a uniform price Dutch auction, which is set up to discover a fair price for a fixed amount of LQD. The Dutch auction allows for everyone to decide the price per token they deem appropriate. All participants receive their tokens at the same final price of the auction.

Participants of the pre-sale were already automatically whitelisted and fully KYC compliant and could participate again.

The team has a green light from the Swiss Finance Regulators (FINMA) to perform light KYC for contributions < 3000 CHF. For contributions beyond, full KYC is required (Video or certified ID/Passport copy).

The tokens will be issued 14 days after the end of the public sale.

LiquidChain GmbH is currently building and pushes the development of the Liquidity.Network and therefore will retain 35% of the Tokens. These tokens are vested linearly over a 2-year period. No funds are directly attributed to team members.

 

Use of the funds from the ICO:

Roadmap

The roadmap on their website is very clear about the goals of the team - scaling.

Their goals for 2019 are fostering merchant adoption, and integration with other EVM blockchains - RSK, ETC. Furthermore, they want to grow beyond Ethereum and build the network for non-EVM based blockchains.

Community

Their Telegram https://t.me/liquiditynetwork has about 13 000 members. The Github https://github.com/liquidity-network currently contains only Revive repository. Their blog https://medium.com/@liquidity.network has about 430 followers and they are posting content regularly. On Twitter https://twitter.com/liquiditynet they have about 1800 followers. Their Youtube channel https://www.youtube.com/channel/UCun8UadDUB5-lBVUli_R6GA has 91 subscribers.

Based on the differences between other social media and Telegram it seems that the hype is rising fast. It is connected also with that the whitelisting is done by Telegram bot.

 


Orca Alliance - Due Diligence Report

Pros

 

  • an ambitious project with a lot of use cases
  • good incentivization of the token
  • working demo

 

Cons

 

  • not very convincing team
  • a bit vague roadmap

 

64%

 

Team: 2/5

Project: 4/5

Token use case: 4/5

Token Metrics: 3/4

Roadmap: 1/3

Community and marketing: 3/5

Hype: 2/3

 

Description

ORCA, which is short for 'Open & Regulated Cryptocurrency Adoption', will be a platform of its kind to globally integrate both banking and cryptocurrency accounts, as well as spearhead the growth of the crypto economy. ORCA will take advantage of the EU’s revised Directive on Payment Services (PSD2), which empowers account holders with the authority to share data, removing the financial institution's role as gatekeeper. In addition, the ORCA Platform fosters the creation of a dynamic financial services ecosystem through the ORCA App Center, a one-stop shop for crypto service development, and Quest, a gamified community that fosters blockchain technology innovation. The platform will allow users to access and manage multiple bank accounts, credit cards, investment funds, insurance policies and other financial services from a single platform - for simpler comparison of options, faster access, and ease of use.

 

Team

The core team consists of 24 people, 9 of those are developers. Also they have 10 advisors some of those are: Darius Rugevičius - Co-founder and Managing Partner at Connect Capital, Rytis Bieliauskas - Hackathon winner, Steen Trondhjem Nielsen - General Manager at Banque Internationale à Luxembourg, Mažvydas Mackevičius, Ph.D. - Ph.D. in Informatics, Steven Sprague - CEO of Rivetz Corp, Board member of Factom.

 

Natan Avidan - CEO -  Founder

  • Mentor at Blockchain Centre Vilnius - it is a non-profit association uniting all the stakeholders to protect common interest and to facilitate the environment for growth, innovation, and collaboration.
  • Managing Partner at mancanweb - Branding & Web Development Agency - for about 2 and a half year.
  • Co-Founder of company Legal Guns Media
  • Digital Marketing Manager at Lietuvos paštas, AB - Digital marketing (Google AdWords and Analytics, PPC, CPA, CPI), social media (created and managed 2000+ fan base)

https://www.linkedin.com/in/natanavidan/

 

Dmitrij Radin - CTO, Co-Founder

  • Vice President at CRYPTO ECONOMY ORGANISATION - currently still on this position - Crypto Economy Organisation is an associated legal person a non-governmental organization founded to represent interests of the members and satisfy public interests through the activity of public benefit.
  • Mentor at Blockchain Centre Vilnius - currently still in this position
  • CVO at CryptoAd.Network - currently still in this position
  • Co-owner & executive producer at Legal Guns - currently still on this position

https://www.linkedin.com/in/dmitrijradin/

 

Vachtangas Babunasvili -  CBDO / Investments

  • CEO at JG Investment Management - The Company manages assets of private investors - currently still in this position
  • Investment Banking Associate at Orion Securities UAB FMI - for 2 years - Orion Securities Group is the largest non-banking financial group in Lithuania providing services in selling securities as well as corporate finance, investment banking, and financial management services to both private individuals and legal entities.
  • HNW Asset Manager at Luxury Life Investments - 3 years - Managed various assets of private investors.
  • Value Creator, Co-founder at BRB Partners - 3 years - Creating long-term organizational strategic goals, building key customer relationships.

https://www.linkedin.com/in/vachtangasbabunasvilis/

 

Laurent Bourquin - COO

  • CIB Financial Analyst at Societe Generale Corporate and Investment Banking - SGCIB - for this company he worked for 4 and a half year on three positions.

https://www.linkedin.com/in/laurentbourquin/

 

Project

The platform provides the technology needed for capturing the synergy that arises from cryptocurrency service aggregation, community engagement, and mainstream adoption. The ORCA Platform includes the following solutions:

  • An Open Banking Platform - A solution to financial data from diverse sources including banks, crypto wallets, and financial exchanges.
  • An Account Overview Interface - An easy-to-understand visual depiction of the user’s financial situation.
  • ORCA AI - 'Machine learning algorithm'-based analysis of customer data and financial activity to provide effective financial management feedback to both customers and financial service providers.
  • ORCA App Center - The "Google Play" of the crypto world, where apps are developed, showcased, tested and monetized.
  • Quest - A community of crypto developers and consumers focused on developing new apps, fostering blockchain innovation, solving problems, shaping or funding future services and contributing to the ORCA community.
  • ORCA Tokens - The fuel of the ORCA Platform: used to reward community users, finance startups, purchase services and serve as a payment medium.

 

The ORCA Platform aims to solve the problem of high transaction costs through the ORCA Sidechain. A sidechain is a protocol that breaks down one transaction into many smaller amounts that are recorded on a separate ledger, and then reassembles transactions and synchronizes them on the main chain.  The ORCA Sidechain will store transactions that occur on the ORCA Platform and resend them to the main chain as a bundle.

 

ORCA will offer a solution by enabling a Token Swap on the Platform and making ORCA Token a "one-for-all" access token for all third-party services. Once a service is added to the ORCA Dashboard, users will be able to pay for it with ORCA tokens, which will be converted automatically to the service provider’s tokens. The exchange will take place through the Bancor Protocol for continuous liquidity.

 

Partnerships so far:

Token use case

Different tiers of apps and services will be accessible to users, based on the amount of ORCA tokens held. More advanced apps/services, such as trading bots and lending gateways, will be accessible to users with higher overall balances. This will incentivize users to accumulate ORCA tokens in order to unlock more services and apps.

 

ORCA Token holders will have access to exclusive deals from ORCA’s partners. That could translate into discounts on an online trading platform or bonuses on an online crypto gaming service.

Data providers will be able to pseudonymize generated content and sell it directly to businesses for ORCA tokens. The ORCA Platform thus acts as a financial data aggregator, allowing both individuals and companies to monetize and exchange information quickly and efficiently. The platform offers users the opportunity to earn money from their personal data, selling it for ORCA tokens to service providers, marketing companies and so on.

 

It also allows users to pay for all services, both crypto and conventional, with ORCA tokens, thus saving time and conversion fees.

 

Any member can join a quest by depositing a pre-determined amount of ORCA tokens. If the Quest is not completed successfully, all or part of the deposit will be distributed among the quest's host and other community members.

 

Token metrics

ERC 223 compliant token, 460 000 000 will be issued and the supply is finite. Token will be divisible to 9 decimal spaces. A 60% of the whole supply is offered for public sale.

65% of the funds will be used to platform and business development. Another 20% is allocated for community development, 10% for legal and regulatory activities and 5% for education and promotion of the platform.

 

Roadmap

According to the roadmap, the beta of the platform should be out in September 2018 and in January 2019 the official launch should happen. The roadmap does not provide any more details about the individual milestones and no information about development after the January 2019.

Community

Their Telegram https://t.me/ORCAalliance has about 30k members. On Twitter https://twitter.com/ORCA_Alliance they have about half of that. Orca Alliances Facebook https://www.facebook.com/ORCAAlliance/ is followed by circa 5 000 people. On Linkedin https://www.linkedin.com/company/orca_foundation_io/ they have 253 followers. Their blog https://medium.com/@ORCA_Alliance has about 370 followers and active content posting. The Youtube https://www.youtube.com/channel/UCSGGZqtOFOD1dpj3rMJrCYw channel is followed by 322 people. The Bitcointalk https://bitcointalk.org/index.php?topic=2477106.0 thread is active. Their Github https://github.com/orcaalliance is not very active. Their Discord https://discordapp.com/invite/xE3t49F has about 230 members.

 


bloXroute - Due Diligence Report

Pros

 

  • Experienced team
  • Token incentivization
  • Very useful product that aims to solve one of the biggest pain points of contemporary crypto-currencies

 

Cons

 

  • No big community or activity of community so far
  • Core team are only 4 people now

 

75%

 

Team: 5/5

Project: 5/5

Token use case: 5/5

Token Metrics: 2/4

Roadmap: 1.5/3

Community and marketing: 2/5

Hype: 2/3

 

Description

 

BloXroute is a provably neutral transport layer which runs underneath cryptocurrencies. bloXroute allows to safely increase the block size and to cut down the time interval between blocks, without increasing the risk of forks and provides real-time support for immediate transactions with zero-confirmation (0-conf). The use of bloXroute requires no consensus, nor a protocol change, beyond adjusting system parameters. It is compatible with any off-chain scaling solutions, complementary to the native consensus protocol used, and can be gradually deployed by any node wishing to receive blocks at a higher rate. With the networking bottleneck removed, each cryptocurrency community is free to adjust its protocol to best leverage this newfound capacity, in order to increase its real-world impact and value.

Note that the payments to bloXroute are utterly voluntary, yet they incentivize miners to require a significantly smaller fee. bloXroute is thus designed as a Win-Win-Win scenario, benefiting users, miners, and the bloXroute system alike, with 99.9% of the value created being captured by the users and the miners.

 

Team

 

Uri Klarman - CEO -

He is the most vocal proponent of bloXroute, which is his doctoral dissertation work at Northwestern University. Uri is an interdisciplinary networks researcher, and his work encompasses innovative uses of Computer Networks, disruptive blockchain networking schemes, alternative content distribution networks, trustless peer coordination, and security.

https://www.linkedin.com/in/uriklarman/

 

Prof. Emin Gün Sirer - Chief Scientist -

He has been involved in the field of crypto from the very start. He had pivotal roles in characterizing the Nakamoto consensus, the DAO detection, and aftermath. He is a pioneer in on- and off-chain scaling, and, most importantly for this project – he is the inventor of the Falcon backbone relay.

https://www.linkedin.com/in/emin-gun-sirer-0a921a4/

https://twitter.com/el33th4xor

 

Prof. Aleksandar Kuzmanovic - Chief Architect -

He is a Net Neutrality expert and a full Professor in the Department of Electrical Engineering and Computer Science at Northwestern University, where he is currently on leave of absence. Prof. Kuzmanovic’s work on Net Neutrality had awarded him an NSF CAREER Award, and he is one of the founders and a member of the steering committee of Google’s Measurement Lab initiative for monitoring global Net Neutrality. His work and systems on congestion control, traffic analysis, and content distribution have been widely disseminated on the Internet, finding its way to millions of users.

https://www.linkedin.com/in/aleksandar-kuzmanovic-45260b7/

 

Soumya Basu - CTO -

He is a member of the Initiative for Cryptocurrencies and Contracts (IC3) group at Cornell University. He is most well known for creating the Falcon Network, which has been operational in the Bitcoin network since April 2016. Soumya’s work aims to remove trust without reducing performance in cryptocurrency systems. He was awarded the NSF Graduate Research Fellowship and a paper award at ACM SIGCOMM.

https://www.linkedin.com/in/soumya-basu-a31bb746/

https://github.com/soumyabasu

 

Advisory board:

 

Product

 

The system is the first to combine a legacy peer-to-peer network and a novel global BDN where the peer-to-peer network is used to audit the BDN (Blockchain Distribution Network) and its neutrality. Nodes need not place any trust in the BDN. Instead, the BDN blindly serves the nodes, without knowledge of the blocks it propagates, their origin, or their destination.

BloXroute is protocol-, coin-, and blockchain-agnostic, capable of simultaneously supporting any number of blockchains.

The bloXroute system consists of two types of operational networks, as shown in Figure 1:

  • bloXroute is a high-capacity, low-latency, global BDN network, optimized to quickly propagate transactions and blocks for multiple blockchain systems.
  • Peer Networks are P2P networks of nodes which utilize bloXroute to propagate transactions and blocks, while carefully auditing its behavior. Each Peer Network consists of all the nodes using a specific protocol. For example, all the Bitcoin nodes utilizing bloXroute form a single Peer Network, while all the Ethereum nodes utilizing bloXroute form a different Peer Network.

 

bloXroute utilizes:

  • systemwide caching that enables faster propagation and Gigabyte-size blocks
  • cut-through routing that enables swift and efficient transmission of blocks through the network.

 

In essence, bloXroute implements and provides an efficient broadcast primitive to the blockchain nodes, via a network of Gateways, making them operate as if they are on the same Local Area Network, while in reality, they might be residing at opposite parts of the globe.

 

BloXroute propagates blocks in the exact same manner for every user of the system. In particular, bloXroute propagates blocks without knowledge of the transactions they contain, their number, and the “wallets” or addresses involved. Miners are free to include arbitrary transactions in a block. Furthermore, bloXroute cannot infer the above characteristics even when colluding with other nodes, or by analyzing blocks’ timing and size. bloXroute cannot favor specific nodes by providing them blocks ahead of others, and cannot prevent any node from joining the system and utilizing it. In short, bloXroute can only propagate all blocks to all its Gateways fairly.

 

To achieve neutrality and enable its auditing, bloXroute supports encrypted blocks, which prevent it from stopping the block propagation based on its content or any other feature. A block’s encryption key is only revealed after the block has been propagated through the network. To ensure bloXroute is not discriminating against individual nodes, Gateways do not propagate blocks directly to bloXroute, but relay them via peers in the P2P network to obscure a block’s origin from bloXroute. Nodes can actively audit bloXroute’s service and performance by sending test-blocks to bloXroute. Lastly, bloXroute incorporates peer-controlled measures to sustain blockchain operations even in the event of a complete system failure.

 

Regardless of the consensus protocol, every honest peer must obtain information about each transaction in the system. bloXroute focuses on this particular problem, which is fundamentally a broadcast problem since every valid piece of information (transaction/block) must be propagated to every honest peer in the system. BloXroute is thus complementary to a native consensus protocol used, and it is capable of boosting up the performance, often dramatically, for any blockchain.

 

bloXroute - Provable Neutrality:

  • Encrypted Blocks: blocks are propagated after being encrypted. BloXroute’s encryption also alters the block size, hiding the number of transaction and their total size.
  • Indirect Relay: preventing individual nodes from propagating their blocks, nodes do not propagate blocks directly to bloXroute. Instead, a node wishing to propagate a block will first propagate it to a peer on the Peer Network, which will relay it to bloXroute, obscuring the block’s origin from bloXroute.
  • Test-Blocks: nodes must be capable of continuously monitoring bloXroute’s service. Such monitoring is achieved by allowing nodes to send encrypted invalid blocks, test-blocks, directly to bloXroute, and measuring the time required for peers to report the arrival of the test-blocks.
  • Sustainability through Peer Auditing: To assure bloXroute’s sustainability, transactions may include a minuscule, optional and voluntary payment to bloXroute, which provides greater incentives for miners to include them.
  • Partial Disclosure of Peers: Peer Network nodes do not reveal all the nodes they are aware of. Instead, nodes conceal half the nodes they are aware of, including half of their immediate peers.

 

Token use case

 

To support the development of the network, bloXroute launches its own capped-supply ERC20 token – BLXR, which supports bloXroute’s goal: promoting the success of all cryptocurrencies, rather than competing with them.

 

BLXR was designed with two goals in mind: to align the incentives of the entire cryptocurrency ecosystem and to be a vehicle for investment in bloXroute. Each BLXR is exchangeable for a proportional portion of a unique cross-cryptocurrency reserve, the BLXR-Reserve, which consists of multiple cryptocurrencies. Thus, the holder of 1% of the entire BLXR supply can “cash out”, and exchange it for 1% of the funds currently held at the BLXR-Reserve.  Even when BLXR are “cashed out” and funds leave the BLXR-Reserve, the “cashed out” BLXRs leave the circulation, leaving the price floor of BLXRs unaffected. The value of BLXR is affected by the valuation of other cryptocurrencies since such valuation would affect the value of the funds held at the BLXR-Reserve. Thus, an investment in BLXR has some similarity to a diversified investment in all the cryptocurrencies which utilize bloXroute, since bloXroute will receive payment from them.

 

For each transaction, bloXroute’s optional payment is 10% of the miner fee. Note that bloXroute’s payment is dwarfed by the costs saved and by the capacity enabled, which translate to orders of magnitude less fees per transaction, the order of magnitude more fees collected by miners while maintaining bloXroute’s profitability and sustainability.

 

By passing 50% of all funds received by bloXroute to the value of BLXR, the success of BLXR becomes tied to bloXroute’s success, and to the success of all other cryptocurrencies. BLXR thus aligns the incentives of the entire ecosystem: bloXroute, cryptocurrencies, users, miners, and investors.

 

Assuming a mining fee of 0.005 USD, i.e., half a cent, a payment of 0.0005 USD to bloXroute (10% fee to bloXroute), and broad bloXroute adoption (200,000 TPS across all cryptocurrencies), bloXroute revenues would amount to over 3.1 Billion USD per year. 50% of these earnings will be immediately directed to the value of BLXR.

 

Token metrics

 

So far no information about the token sale metrics is provided by the team.

 

Community

 

Their Github profile is not yet created but promised:

On Twitter https://twitter.com/bloXrouteLabs they have 1117 followers, their Medium https://medium.com/@bloxroutelabs has 247 readers and so far 3 blog post, on introductory and two others about scalability issues. Reddit https://www.reddit.com/r/bloXrouteLabs/ has 148 readers, last activity there seem to be almost 3 weeks ago.


Decentralized Autonomous Vehicles

Summary

 

Pre-sale: sold on presale  14 000 000 USD

Public sale: 11th June of 2018

Whitelist: yes + KYC

Hard Cap: 76 000 ETH

Total supply: 2 480 000 000

Token allocation: 40%

Token base price: 1 DAV = 0,0683 USD (0,00010 ETH)

Accepted currency: ETH

Company information: DAV FOUNDATION, SWITZERLAND

Underlying platform: Ethereum, ERC20

Ticker: DAV

 

Pros

 

  • First-mover for a decentralized solution for a huge potential market
  • Incentivization of participants and contributors to the infrastructure
  • Fair recognition on social media

 

Cons

 

  • The token does not have many use cases
  • Not that big allocation for token buyers
  • Very ambitious and a bit futuristic goal for now

 

67%

 

Team: 4/5

Project: 4/5

Token use case: 3/5

Token Metrics: 2/4

Roadmap: 2/3

Community and marketing: 3/5

Hype: 2/3

 

Description

 

DAV is a computer network that will ultimately connect self-driving vehicles (such as cars trucks, rovers, and drones) to everyone on that network, enabling them to discover, communicate, and transact using a token. Users can pay for the use of any of those vehicles with a token to get a ride or pick up and deliver a package. People who own those vehicles or the charging stations on the network can earn tokens for these services they provide.

 

Team

 

Overall there is 18 people in the core team and 12 advisors. Furthermore there is about 142 open source developers contributing to the project.

 

Noam Copel - CEO and Founder - A senior executive, strategist, and investor, with an expertise in the blockchain, cryptocurrencies, and encryption. In 2003 created the world’s first smartphone encryption system distributed in over 50 countries.

https://www.linkedin.com/in/noamcopel/

https://t.me/Copel

 

Tal Ater - CTO and Co-Founder - A developer and entrepreneur for over 20 years, a published O’Reilly author, an invited expert on the W3C Automotive Working Group, and a coder since the age of 8. Experienced in building and leading R&D teams in startups and organizations. Previously R&D Director and VP of Product at Somoto (TASE: SMTO). Core contributor and lead developer of many influential open-source projects.

https://www.linkedin.com/in/talater/

https://t.me/Tal_Ater

https://github.com/TalAter

 

John Frazer - CCO and Co-Founder - John is the former External Relations lead for the Ethereum Foundation and was a senior member of the Devcon3 team. An experienced senior manager in the technology industry. He has served on multiple boards for non-profits, for-profits and in economic development.  

https://www.linkedin.com/in/jrfrazermba/

 

Joe Lopardo - CMO and Co-Founder - An entrepreneur, investor, and doer for over 10 years across a multitude of industries. Involved in the blockchain and cryptocurrency space at large. Has worked with companies such as Google, Oracle, Salesforce, and SAP to develop their brand and implement marketing strategies.

https://www.linkedin.com/in/joelopardo/

 

Advisory board

Dr. Alan Messer - Automotive Advisor - An industry consultant and was formerly Vice President of Software and Innovation and CTO of Global Connected Consumer eXperience at General Motors where he led GM's work on products, platforms and future technologies for the Connected Car and Services. Alan has worked at a variety of consumer electronics companies including Samsung Electronics, HP, and Sony Electronics.

https://www.linkedin.com/in/alanmesser/

 

Dr. Scott Horowitz - Aerospace Advisor -  A former NASA astronaut, Space Shuttle pilot/commander, and NASA Associate Administrator for the Exploration Mission Directorate. He was an Air Force instructor pilot, F-15 fighter pilot, and test pilot. He has held positions in the aerospace industry and has been a college professor. He currently is president of Doc’s Aerospace LLC providing flight test and technical services to all sectors of aerospace from rockets to drones.

 

Jay Adelson - Internet Infrastructure Advisor - Serial entrepreneur and a investor known for his work founding and running companies such as Equinix, Digg, Revision3, SimpleGeo, and Opsmatic. Equinix, which Jay founded and was its CEO, is currently the largest data center provider in the world, providing data centers to Amazon Web Services, Microsoft Azure, and others. In 2008, Jay was selected by Time Magazine as one of the 100 Most Influential People in the World.

https://www.linkedin.com/in/adelson/

 

Dr. Greg Colvin - Technology Advisor - Core developer with the Ethereum Foundation and a key engineer behind the Ethereum Virtual Machine. Served as a sitting member of the ANSI/ISO C++ standards committee and as a Principal Member of Technical Staff with the Java Products Group at Oracle Corporation. Holds a Ph.D. in Quantitative Psychology from Cornell University.

https://www.linkedin.com/in/gregcolvin/

 

Project

 

The DAV stack is composed of five main components, each providing one piece of the puzzle needed to enable a decentralized autonomous vehicle ecosystem. The five decentralized components are:

  • Identity
  • Discovery
  • Communication
  • Mission Flow
  • Payments

 

Each entity using the DAV network has its own pseudonymous identity, known as a DAV Identity. These entities might be a person looking to purchase transportation services, a rooftop charging station for drones, a driverless car, an insurance service, or even a group of several cargo drones controlled by a single system. These pseudonymous identities are uniquely identifiable and non-ephemeral, while still providing a degree of anonymity. For example: you can know how many successful missions a drone completed, but not who that drone is or who owns it.

 

While it is possible for a smart contract to know when a financial transaction has completed, knowing whether a physical package was delivered with a scratch is trickier. DAV offers three tools for dealing with counterparty risks: a public transaction history, third-party arbitrators, and third-party insurers.

 

A single legal entity or person can create multiple pseudonymous identities to represent themselves. This makes the system potentially prone to so-called sock puppets – identities created with the sole purpose of hiding past negative behavior. Users tend to trust and value vendors with a long history of successful transactions while considering transactions with new vendors riskier. For example, in online freelancing sites such as Upwork and Elance, veteran users with many positive ratings are able to charge a premium over new unknown users. Similarly, when evaluating bids for services over the DAV network, a potential buyer might look at a seller's history as important criteria, and not just go for the lowest bid.

 

Decentralized discovery represents the difference between a world where introducing a vehicle to a new environment requires building a support structure around it (e.g., charging and service stations, parking, etc.), and a truly connected world where any autonomous vehicle can operate in any environment, consuming services around it as the need arises.

DAV implements this decentralized node discovery using a peer-to-peer protocol that is based on Kademlia DHT (the same algorithm used by Ethereum's node discovery, as well as popular peer-to-peer protocols such as BitTorrent).

It enables node lookups with logarithmic difficulty and has been proven to scale remarkably well.

 

Decentralized communication is key to facilitating most types of operations within the DAV network. This communication can be divided into two groups: on-blockchain communications and off-blockchain communications (peer-to-peer communications).

 

DAV's peer-to-peer publish/subscribe system is based on an extension to Kademlia that is based on the Quasar algorithm. We are working to improve on a few of the issues identified in Quasar, namely latency, advantages to peers in close XOR distance (Kademlia uses an XOR metric to define distance. Two node ID's or a node ID and a key are XORed and the result is the distance between them. For each bit, the XOR function returns zero if the two bits are equal and one if the two bits are different. XOR metric distances hold the triangle inequality: given A, B and C are vertices(points) of a triangle, then the distance from A to B is shorter than (or equal to) the sum of the distance from A to C to B.” https://en.wikipedia.org/wiki/Kademlia) rather than geographical distance, and the ability for nodes to refuse to relay messages when it is advantageous to them to do so.

 

Mission flow

To enable a successful exchange of services between two or more parties, DAV offers a communication protocol designed to ease each step of the mission flow – from the initial statement of need through bidding, service fulfillment, and eventually payment. These steps are executed off-blockchain using peer-to-peer communication and are governed and enforced by a number of smart contracts on the blockchain.

 

Payments

A buyer is defining a need. This Need is then broadcast to all DAV entities that are able to provide that service. As an example, let's take a person looking to ship a package to a friend who lives in the city. That user broadcasts a Need to deliver a package of a certain size from coordinate α to coordinate β at a certain time. In turn, a drone looking to deliver that package might broadcast its own Needs, such as a charging station within 500 m of coordinate β and a robot able to do the "last mile" of the delivery from a rooftop landing station to the second floor of the building at coordinate β.
The Need includes a number of fields, which are mandatory to all Need messages, as well as a payload with additional details specific to the type of service requested (e.g., package weight, number of passengers, etc.)

 

Bidding process:

Any Identity (a seller in this case) listening to incoming Needs can respond with a Bid to fulfill that Need. The Bid is sent directly to the buyer and, like the Need, includes a few mandatory fields common to all Bids, as well as a payload containing additional details relating to the specific type of service. For example, a drone responding to a request for a ride might include the price for completing the mission, an expiration time for the Bid, the drone's current location, estimated time of pickup, estimated time of delivery, and additional details like whether it requires a third-party arbitrator to sign the contract.

The entire flow is asynchronous. The drone from the previous example might receive the Need and, before sending its Bid, broadcast its own Need asking for Bids from insurers to insure the delivery.

 

A multi-step smart contract between a drone and a client looking to ship a package can be updated as the mission progresses through various steps (travel to the pickup location, pickup, travel to a destination, etc.) This on-blockchain data can later be used by another contract that was created to insure the transaction.

 

DAV will develop tools to enable third-party developers to create domain-specific multi-step contracts to be used on the DAV network.

 

To help grow the Internet of Transportation and jumpstart the network effect, the foundation will actively incentivize early adopters in select cities, establishing favorable market conditions and lowering barriers to entry. DAV cities will be designated by the foundation based on the following criteria:

  • Autonomous-vehicle-friendly regulation
  • Financial incentives from local EDOs (i.e., economic development offices)
  • Viable use cases and populations of early adopters
  • Deployment of UTM12 for integrated airspace management through e-registration, e-identification, flight planning, geofencing, airspace authorization, flight tracking, and live telemetry services


Token use case

 

DAV smart contracts support the transfer of DAV tokens, refunds, staking tokens for insurance, and more.

The token is fully ERC-20 Token Standard -compliant. It implements the ERC-20 token interface, with a few additions that extend its functionality for the unique needs of the DAV network, as well as deal with a few of the known security issues of ERC-20 tokens.

 

In addition to the specialized functionality it enables, the payment contract also keeps track of which Identities hold incentive tokens, as well as a whitelist of identities that can receive incentive tokens.

 

Incentive tokens are real DAV tokens held in a separate wallet by DAV Foundation or the relevant ecosystem member. When the DAV Foundation or other ecosystem members decide to incentivize a seller (e.g., a charging station) it may deposit DAV tokens (either previously acquired or bought with Ethers at the current market rate on the secondary market) in the incentive token wallet of the DAV Foundation or the relevant ecosystem member, as the case may be. DAV Foundation does not operate such wallets on behalf of ecosystem members (i.e. ecosystem members may not hold the tokens centrally on hardware wallets with DAV Foundation and DAV Foundation does not hold the private keys on behalf of ecosystem members). Next, it assigns those tokens to potential buyers (e.g., electric vehicles) of that seller's services using the “addIncentiveTokens()” function. Finally, it uses the “createIncentive()” function to add that seller's Identity to the incentive whitelist, allowing buyers to pay that seller with incentive tokens. When creating an incentive, a limit is also placed on the maximum number of tokens that a seller can receive, as well as the maximum percentage of each transaction that can be paid for with incentive tokens.

An example of this structure would be a charging station manufacturer incentivizing homeowners to buy and place charging equipment in their driveways. If the equipment and installation costs of each station is 100 DAV, the manufacturer may whitelist each of these new charging stations to receive up to 100 DAV in incentive tokens, virtually guaranteeing that the homeowners cover their initial costs.

 

Token metrics

 

DAV tokens will be distributed as part of a DAV incentives program, which will provide bounties directly to consumers and enthusiasts in DAV cities, to autonomous transportation services, and/or to autonomous vehicle companies for purchasing services from within the transport economy, such as charging or maintenance. As a balancing factor, the DAV Foundation will only fund the DAV Incentives program using DAV tokens that it has purchased on the markets at market price, using the foundation’s ETH reserves that were allocated specifically for this purpose.

To help make sure that incentives tokens are properly utilized, they are embedded with a list of allowed Identities before being distributed.

 

While the limitations on incentives do require a temporary period of centralized growth management, this does not have an impact on the long-term architecture of DAV as a completely decentralized platform.

Roadmap

 

The core team behind DAV will work with the community to continuously document, publish, and open source proof-of-concept releases.

 

Major milestones for development and go-to-market are:

  • MVP #1 - World’s first autonomous vehicle to autonomously bid for delivery services, complete them, and get paid using tokens directly to its own wallet.
  • MVP #2 - World’s first autonomous vehicle to pay for its own battery replacement using tokens and take off to complete its delivery mission.
  • MVP #3 - World’s first autonomous vehicle to pay another autonomous vehicle (robot) using tokens for completing the last mile of a delivery mission.
  • MVP #4 - Longest drone delivery flight ever, flying cross-country using the support of multiple DAV battery-changing stations along the way.
  • Additional Development - Add support for robotic vehicles, cars, and marine vessels.

Main net and first service should be launched before token sale. The goals of the team are clearly defined and end in Q3 2019 when the network should be fully released with all the services.

 

Community

 

Their Telegram https://t.me/DAVNetwork has more than 15 000 members, Rachel Linnewiel and Joe Lopardo are editors of their Medium https://medium.com/davnetwork blog which is semi-active and filled with interesting content. On Youtube https://www.youtube.com/c/DAVNetwork, their channel has about 2,9k followers. Their Facebook https://www.facebook.com/DAVNetworkTeam is followed by circa 3 700 users. On Twitter https://twitter.com/davnetwork?lang=en, 3 700 followers, their Github: https://github.com/DAVFoundation. On Reddit https://www.reddit.com/r/DAVNetwork/ they have 362 readers but the community seems not to be very active there. Their Linkedin profile has 308 followers https://www.linkedin.com/company/dav-foundation/.   

 

The project has medium-high hype compared to other overhyped projects that came up this year and active marketing on various social media.

 


DAOstack - Due Diligence Report

Summary

 

Pre-sale: May 1, 2018, at 4:00 a.m. GMT, with 10% bonus, but also private pre-sale with unknown bonus

Public sale: May 8, 2018, at 4:00 a.m. GMT

Whitelist: yes

Hard Cap: 30 000 000 USD

Total supply: 100 million (60 million circulating 40 million mintable in the future)

Token allocation: 40%

Token base price:  1 GEN = 1,00 USD

Accepted currency: ETH

Company information: DAOstack Limited, Gibraltar, c.n.: 116055

Underlying platform: Ethereum, ERC-20

Ticker: GEN

Pros

  • Use of the GEN token and accounting for plutocracy problem

  • Open source

  • Genesis DAO decentralized fund

Cons

  • CEO has involvement with two unsuccessful projects in the past

  • Private pre-sale with unknown bonus

72%

Team: 2/5

Project: 4/5

Token use case: 4/5

Token Metrics: 2/4

Roadmap: 3/3

Community and marketing: 2/3

Hype: 3/3

Description

DAOstack is an operating system for a new form of organization: the DAO - Decentralized Autonomous Organizations, a Wordpress for DAOs. It’s a platform for decentralized governance that enables collectives to self-organize around shared goals or values. At the base of the DAO stack, Arc is an open, universal framework of smart contracts for decentralized governance and collective value management over the blockchain. Just as

HTTP allows the creation and interoperability of websites and web applications, DAOstack allows the creation and interoperability of web companies, collaboration apps, and DAOs.

The platform launches spring 2018 and includes a modular smart contract framework, a friendly JavaScript developer environment, and an intuitive user interface that allows anyone to create or participate in a decentralized organization without technical knowledge.

Team

Matan Field - CEO and Architect - He was a Co-founder and CEO of Backfeed - provides the protocols that make it possible for any disparate group of individuals to easily deploy decentralized applications based on spontaneous, large-scale and free collaboration. “The CEO, Matan Field, founded a project called backfeed, in 2015. Backfeed was almost the exact same project as DAOstack (only without the token), but it failed in early 2016. When asked about this, Mr. Field explained that he had taken too much on himself as at some point he was effectively the CEO, CTO, chief scientist and chief product. Besides, in his words, the project lacked focus overall. While this seems like a giant red flag, he’s right. It is a massive project to take on, and he does have a strong looking team now that he didn’t have back then.” https://hacked.com/ico-analysis-daostack/
He also co-founded La’Zooz - open-source and decentralized collaborative transportation system, that uses cryptocurrency technology in order to establish, coordinate and grow its community of users, developers, and promoters alike. The app was a failure. The La-zooz website tried to do a token sale in January 2017 but the devs claimed on Twitter that their website was hijacked and no token sale was officially launched by the project founders.

He has PhD. of Theoretical and Mathematical Physics.
https://www.linkedin.com/in/matan-field-92a2b396/

Adam Levi - Co-Founder and CTO - Doctor of Philosophy (Ph.D.) focused on Theoretical Physics about quantum effects in black-holes from Technion - Israel Institute of Technology. Studied at the same University as Matan Field. According to his Linkedin he has not yet any professional background in business development or blockchain development. But he claims to have 22 years of programming experience.

https://www.linkedin.com/in/adam-levi-ph-d-3bb5164/

Roberto Klein - Legal & Regulatory - For 8 years he has been an Angel Investor in various companies. His first job was as Electro-Optic Engineer at RedC Optical Networks. After that, he was an Analyst/Consultant for The Dovrat Investment Group (currently Viola). For almost 3 years he was a VP for Biological Signal Processing Ltd. None of his education or past experience is focused on law or regulations.

https://www.linkedin.com/in/roberto-klein-a57a95/

Yehonatan Goldman - COO -  He was an Owner and Winemaker at Kadita Winery (which seems to be a family vineyard http://www.israeliwinedirect.com/?method=pages.showPage&PageID=8A6019B4-A03F-1CD1-D4B2-EA76196ECBB8&originalMarketingURL=About-Us/Our-Wineries/Kadita ). Also, he was an Owner of Talish gallery. Also no previous experience in blockchain startups or tech-startups at in general.

https://www.linkedin.com/in/yehonatan-goldman-90a437a0/

Nathalia Scherer - Community & Biz Dev - Her background varies from Industrial and Systems Engineering, managing a technology startup, consulting for business strategy in San Francisco, to managing global communities.

https://www.facebook.com/nathy.scherer

https://twitter.com/nat_scherer

https://www.linkedin.com/in/nathalia-scherer-b181b044/

Josh Zemel - Communication and Marketing - Most of his career he was involved with IMM - a full-service digital marketing agency based in Boulder, CO.  We focus on building national marketing programs, where he was in various positions.

He is Co-Founder of ClientStream - a platform to enhance viral business growth that was profitable in its first year. For more than 4 years he was a Course Leader at The Integral Center - A "community-as-practice" organization exploring the frontiers of what creates stronger relationships.

https://www.linkedin.com/in/joshzemel/

https://www.facebook.com/joshmzemel

From their advisors most notable are: Jordan Greenhall - Co-Founder and ex-CEO of DivX, Martin Köppelmann Co-founder and CEO of Gnosis, and Yoni Assia Founder and CEO of eToro.com.

Project

DAOstack will be not a fixed offering in decentralized governance, but rather a sandbox for ongoing experimentation, in which bits and pieces of governance infrastructure can be easily mixed and matched for each organization, like LEGO building blocks or WordPress templates.

The base layer of the stack, called Arc, consists of the bits and pieces of governance infrastructure mentioned earlier. It’s a library of smart contracts implemented on the Ethereum blockchain, each of which represents functional elements that can be mixed, matched, and even modified to create the complete governance protocol for any given DAO. Because Arc is written in Solidity code, the users most inclined to interact with the stack at this level will be programmers.

Arc.js is a JavaScript library that lets front-end developers easily build applications on top of Arc without being familiar with Solidity or the blockchain. With Arc.js, any organization or industry has the option of creating a custom interface suitable for its own use cases.

The ArcHives are a set of shared registries designed to enhance interoperability among the DAOs and Dapps utilizing Arc and Arc.js.

The first application being built on the stack is Alchemy, an intuitive user interface for budgeting and resource allocation for decentralized organizations. With Alchemy, anyone will be able to create a DAO in a few clicks, create an ERC20 crypto-token if desired, and invite others to participate in a hub of decision-making and talent-sharing. Demo presentation of MVP for Alchemy is here: https://www.youtube.com/watch?v=iWm9SzYLq8A

For more details, there is a blog post from Josh Zemel: https://medium.com/daostack/an-explanation-of-daostack-in-fairly-simple-terms-d0e034739c5a

Token use case

DAOstack’s governance templates separate token ownership and voting power into two different currencies. DAOstack generally refers to the first — the fungible, transferable token that is a form of monetary wealth — as simply token, or GEN.

The second — voting power — it refers to as reputation.

Reputation cannot be directly transferred from peer to peer, but rather is distributed by the passing of proposals, or by the adoption of protocols that result in reputation being transferred automatically. For example, there might be a protocol through which reputation is distributed for positively reviewed work. This method is used to prevent rising plutocracy in many of the blockchain projects. About this reader can read more in the blogpost of Vitalik Buterin: https://vitalik.ca/general/2018/03/28/plutocracy.html

GEN serves as the attention token within the DAOstack ecosystem. With GEN, you cannot buy voting power, nor can you vote with it, but you can place a stake for or against a proposal that influences whether or not it rises into the collective attention of the voters, the reputation-holders. If you stake for proposals that the reputation-holders then pass, you’re rewarded with more GEN. If you stake for a proposal that then fails, you lose your GEN. And vice versa if you stake against proposals.

GEN will likely have other utility on the platform too, related to The Archives, for example. Also, GEN will be the primary currency for the buildout of the DAOstack ecosystem itself, with contributors to the platform rewarded in GEN, and even investments into projects that are built on the stack tendered in GEN — according to the collective will of the Genesis DAO.

The Stack is the token that buys the collective attention of the DAOstack network, just as ETH buys the collective attention of computers on the Ethereum blockchain.

 

Token sale metrics

In terms of funds allocation, 33% ($10 million) will go to development, 67% goes to Genesis DAO, a decentralized fund in which anyone can create proposals, according to its governance protocol. Funds will be transferred to the Genesis DAO by the DAOstack non-profit gradually as it demonstrates stability and security. It intends to use part of its raised funds (collected via its token sale) for investments in projects that would come on top of the DAO stack (as well as in projects which will build and enhance the DAO stack), and accelerate the ecosystem, while also expecting returns on the investments.

Roadmap

The roadmap shows that the project started in January 2017. Alchemy Beta should be released on Q3 2018. On Q4 public pilot and Gnosis DAO public pilot + 5 pilots should be launched. Second Alchemy release is expected on Q1 2019 and the third one on Q3 2019. The roadmap ends for now on Q4 2019 with goals: Off-chain architecture, IPFS & Swarm integration, Delegate voting.

Community and marketing

The DAOstack code is fully open source, backend and frontend, and is found here on Github: https://github.com/daostack.

Their Youtube channel has 231 subscribers: https://www.youtube.com/channel/UCX4GNxoP4GdGQk7pUp0j6JA/videos. They also have their own discussion forum: https://forum.daostack.io/. On Twitter https://twitter.com/daostack there are 3644 followers and the Telegram group has 22835 members https://t.me/daostackcommunity.  The Reddit https://www.reddit.com/r/daostack/ has only 192 readers and Medium https://medium.com/daostack 578 readers.

The disproportion of the community members on Telegram compared to other media like Medium or Reddit (where there is usually more educated discussion) shows that the project is overhyped and that many of the members of Telegram community are probably short-term speculators. But the oversubscribed Telegram could be also caused by a referral program that pays GEN.