Atonomi – Due Diligence Report

Description

 

Atonomi provides a security protocol and infrastructure to enable billions of IoT devices to have trusted interoperability for both data and commerce. The key innovation of the Atonomi low-level protocol is to root the identity and reputation of devices on a blockchain-based immutable ledger. Combining on-chain and off-chain resources, and built on Ethereum technology, Atonomi’s architecture is extendible by developers across IoT verticals to secure the vast realm of IoT devices ranging from healthcare and home automation systems to smart-city infrastructure, to industrial sensors and controllers.

 

Team

 

Atonomi is being developed by CENTRI Technology, creators of IoTAS – Internet of Things Advanced Security. IoTAS features certificate-less, hardware-based ID to establish trusted devices without the need to exchange and manage certificates. The CODEC provides simultaneous data encryption and compression to protect data while saving bandwidth and storage costs. CENTRI’s core technology is integrated into the Atonomi services stack and includes these 10 patents.

 

Vaughan Emery – Founder and CEO – He has years of experience in the field. As a Founder and CEO of CENTRI and Managing Partner of ITSource_  – a company that provides managed information technology services to businesses and healthcare organizations throughout Washington State. In the latter, he was involved for more than 15 years. He has also 9 years experience as a business analyst.

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

 

David Fragale – Co-Founder and Chief Product Officer – His longest professional experience is from company PwC (more than 12 years) as a Management consultant and Advisor and later as Director and Strategic threat management. PwC helps organizations and individuals create the value they’re looking for. They are a network of firms in 157 countries with more than 223,000 people. He is also Founder and CEO of Raven Rock Ventures – a blockchain and cryptocurrency advisory firm dedicated to growing early-stage companies.

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

 

Mike Mackey – CTO and VP of Engineering – For 7 and a half year he is a CTO of CENTRI. Also for 7 years, he was working for The Cobalt Group Inc. where he was a Development Manager. He has even more experience with leading teams of developers from working in companies Amdocs and Nuance Communications.

https://www.linkedin.com/in/michael-mackey-9851b52/

 

Dr. Luis Paris – Chief Data Scientist – He has the same position in CENTRI for 5 and a half year. Before that, he was an Associate Professor of Computer and Information Sciences at University of Harrisburg for 7 years. His professional profile is also strengthened by working with 6 more companies in a position of software development, architecture, research, and development.

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

 

Andrii Zamovsky – Strategic Development Partner – His Linkedin does not mention any connection with Atonomi. But as a Strategic partner of Atonomi the most important of his projects are Ambisafe and Orderbook, of both of which he is the Founder. He is also connected with the Propy Inc. real-estate-on-blockchain project.

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

 

Apart from that, they have 6 advisors among which are MIT researcher, CEOs of CipherTrace and Talla, Technical development partner of Ambisafe, Cryptosystems researcher from DarkMatter, and Senior Technical Director at SRI International.

 

Project

 

Atonomi is a project that leverages established technology of its parent company, Seattle-based CENTRI Technology. CENTRI is a leader in providing IoT data security solutions, with its technology integrated into IoT solutions produced by multi-billion dollar ecosystem players like Arm, Flex, and Intel, among others. The team claims to already have MVP but not disclosed it yet to the public.

 

The Atonomi Network is integral to securing the IoT and its real-world applications. For example, homeowners could register smart home devices with the Atonomi Network to validate devices on the premises and help eliminate the risk of hackers accessing personal information. Within industrial IoT, the Atonomi Network can protect against hackers gaining control of the sensors, controllers, and other devices that regulate the operation of essential infrastructure, such as hydroelectric dams and utility grids.

 

The Atonomi Security Protocol provides the following fundamental contributions to enable interoperability and secure exchange of data and commerce at scale:

  1. The trusted immutable identity of devices through its device identity registration service
  2. Reputation protocol to incent and enable Atonomi and decentralized third-party auditors to build systems to detect and remove bad device actors
  3. The tokenized economy for the registration and activation of devices, and facilitation of a reputation-scoring ecosystem among third-party auditors, and for transaction validation services
  4. Fully extensible architecture designed to be built on top of by vertical IoT applications for security

 

The Atonomi Network is designed to validate device identity, provide extensible capacity for leveraging device reputation in transactions, and provide protocol hooks for recording arbitrary device transactions.

Devices performing anomalous lookups will have their reputations downgraded and those which continuously display ordinary performance will have their reputations upgraded. The Atonomi Network’s use of the public Ethereum blockchain is intended to ensure the permanence of Atonomi functionality, providing security for IoT devices into the foreseeable future.

The Manufacturer Registry is a smart contract which can only be written to by Atonomi and participants in the consensus network.

Write control to these smart contracts is strictly maintained by whitelists controlled by Atonomi. Read control is maintained by encrypting or salting and hashing data in order to obfuscate the data from arbitrary third parties. The Atonomi Network includes a metadata field in each tuple for extensibility.

The project does address the problem with scalability and that not all transactions will have to be on-chain. But there is still questionable how many transactions per second will be needed for this solution and how many could Ethereum handle in the future.

 

Token sale metrics

 

Not disclosed officially at the time of writing this review. But according to ICOdrops the token metrics are as follows:

ICO Token Price: 1 ATMI = 0,05 USD

Fundraising Goal: 25 000 000 USD

Total Tokens: 1 000 000 000

Available for Token Sale: 50%

Token use case

 

Atonomi token is in compliance with ERC-20 standards, it is a utility token.

The token can link the identity between the device and device owner through a crypto wallet. Atonomi tokens serve as a multi-use token for the internal mechanics of the Atonomi Network. Specifically, when new devices are registered and activated on the Atonomi Network, Atonomi tokens can be used as fees for creating a device’s digital identity through the use of smart contracts. Also, the token enables devices to validate other device identities that are stored on the blockchain. Tokens are designed to be a key component of Atonomi’s Reputation Tracking service by enabling reputation data to be captured, analyzed and scored.

Token use case also adds to the business model of the project and provides the revenue. Atonomi may charge a processing payment of 1% for handling commercial transactions between IoT devices. Nothing is charged for data exchanges. It is anticipated that these transaction fees would be shared between reputation auditors in relation to the auditing services they perform and Atonomi. Tokens can be used to enable device-to-device autonomous transactions. Third-party tokens can also be used. This token-based economy enables devices to securely engage in peer-to-peer autonomous transactions.

 

Roadmap

 

At the time of writing this review, there is no roadmap published. The team had a roadmap out before but they took it out from the Whitepaper and claim that they will publish a new updated roadmap soon.

The old roadmap also did not provide any dates and served more as a brief outlook on the project’s schedule.

 

Community, marketing

 

Their Telegram has 18 725 members, combined with that this project is still in early ICO phase and not making any very strong efforts in marketing it seems to be very hyped. On Twitter, they have 7 725 subscribers. On Facebook, they have a very small audience of 442 followers. Their Linkedin has 176 followers and Reddit 480 readers with active posting. They were covered by more news media, for example, Bloomberg interview: https://www.bloomberg.com/news/audio/2017-12-06/bloomberg-markets-preventing-disruption-of-critical-systems  

 

Telegram: https://t.me/atonomi_io

Twitter: https://twitter.com/atonomi

Facebook: https://www.facebook.com/atonomi/

Linkedin: https://www.linkedin.com/company/atonomi/

Reddit: https://www.reddit.com/r/Atonomi/