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No Way Neuromation: Past-ICO Review

  • Eric Eissler
    ⭐ Features

    AI and business, could be a match made in heaven, but the plan on how to get there is not substantial


No Way Neuromation: Past-ICO Review
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Neuromation an ERC20-based token seeks to deliver AI models to various industries using neural networks. The principal goal of the Neuromation is to become a hub for AI services and international business, by taking a novel approach to combining supply and demand for each area on a large scalable platform.

Financials

The main token sale for Neuromation (NTK) began Nov. 28, 2017 and ended Jan. 1, 2018. It raised $71.6 mln during that time. Token prices during the sale were set at $1.19 per token. When NTK came to public markets, it debuted on Feb. 20 at $0.66 per token, opening at a loss of -44 percent from its token sale price. It has been on a continued decline down to $0.08 at the time of writing. CoinMarketCap ranks it at 456 with a total market cap of $6.98 mln and daily trade volumes around $1 mln.

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Running out of crypto miners?

There are more and more projects based on mining in the crypto industry. Neuromation is also a mined token, so this could be a potential issue for not only them but the entire cryptosphere of minded tokens. This is not about mining of cryptocurrency, but about attracting miners with their equipment to the platform to use their capacities for the project. Therefore, there is the risk of mining competition, which can greatly affect the viability and development of the project. Moreover, the documentation has no information about global marketing strategy, which is why it is not clear how the developers will attract miners to their platform. This and the declining token price are the big risks that face the token as of now.  

Team

Constantine Goltsev– Founder & Chairman

Professional entrepreneur from the online advertising industry. Goltsev has more than 20 years of experience developing software and products. Former CEO and founder of the innovative advertising network AdoTube.

Yashar Behzadi– CEO

Yashar is an experienced entrepreneur who has built transformative businesses in the AI, medical technology and IoT space. His work at Proteus Digital Health was recognized by Wired as one of the top 10 technological breakthroughs of 2008 and as a Technology Pioneer by the World Economic Forum. He has been recognized in Wired, Entrepreneur, WSJ, CNET, among others. He holds 30 patents and patents-pending and a PhD in Bio-engineering from UCSD.

Fedor Savchenko– CTO

More than twenty years of managing complex software development projects with an emphasis on computer graphics, 3D engines, production of CGI and virtual reality. Has advanced degrees in mathematics and graphic design.

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Where to next and when?

While there is no roadmap on the website, the news and blog section offers little information on what the company is doing. There are no public repositories on GitHub to check out the platform development, so that does raise some red flags. The recent Reddit AMA offers little insight to a timeline or how the actual technology works or when it is launching. Plummeting prices, no GitHub, and no roadmap leaves open a lot of questions. While so say it is a great investment and look how much was raised during the ICO, the writing is on the wall, with a small market cap and no road map, it appears that Neuromation is just treading water until the next major announcement garners positive attention.

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Cover image via u.today
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Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?

  • Yuri Molchan
    ⭐ Features

    Stablecoins show hardly any volatility compared to Bitcoin and altcoins, many are hoping that they will be able to bridge new crypto economy and regular fiat money


Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?
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Bitcoin, the father cryptocurrency, emerged in hope that it will remove all intermediaries in electronic commerce that cut off their share of payments. BTC was perceived as a P2P way to replace fiat cash in an electronic format, which would enable one party to pay another without any financial institution or payment platform which would demand its share of a transaction as a reward for its services.

What is wrong with Bitcoin

For quite a while Bitcoin was performing the way the crypto community expected. But the situation changed later – BTC rate became weaker, thus bringing down its financial and economic reliability, when it gets to be used as a regular means of payment.


You cannot have a currency that would cost like a British castle today, a gram of gold – tomorrow and a pack of French fries the day after.

At that point practical fintech minds came up with an idea of creating something which would become a breakthrough in the universe of crypto – a so-called stablecoin.

Will stablecoins solve the volatility problem?

Technically, stablecoins are protected from the volatility roller-coaster that Bitcoin and other cryptos love to ride. They are programmed to keep their prices stable and investors now are largely attracted to this new type of digital assets.

Stablecoin does not show any volatility in its monetary value, since it has a fixed connection to an asset it is pegged to. The major goal of using stablecoins is taking the best from decentralized crypto coins and combining it with a constant value. Thanks to it, stablecoins can be used as a reliable means of trade.

Asset-pegged stablecoins

Asset-backed ones get their value from an asset as can be understood from the name. An asset provides the necessary value to a coin, as well as the necessary legitimacy.

A great example of an asset-pegged stablecoin is Tether (USDT). In spite of a series of scandals at the end of last year, it remains the most popular stablecoin in the crypto market.

Recently, it has partnered with the Tron Foundation to launch a Tron-based stablecoin.

Other examples are TrueUSD (TUSD), USD Coin (USDC), the Gemini Dollar (GUSD), and the Paxos Standard (PAX). They are all pegged to the USD.

Crypto-backed stablecoins

Some digital coins work in a similar way to fiat-backed ones, however, they are pegged to collateral crypto. That means that crypto assets that ensure the value of such stablecoins are stored in a wallet similar to escrow.

A good example of a crypto-pegged token is Maker, which is ranked 16 on CMC.

Algorithmic stablecoins

Even though, stablecoin can be interesting at first thought but the way they are built goes against the principle of decentralization that crypto coins have as a foundation. Thus, many crypto fans and evangelists are positive that stablecoins must be linked towards not a centralized asset but a computer algorithm which takes value from a balance between supply and demand.

Basis is now considered the most promising algorithmic stablecoin of all.

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Can stablecoin ensure smooth future for the crypto industry?

The primary goal of all crypto assets was and remains to come up with virtual asset that would be liquid enough and not vulnerable to market volatility. From this point of view, stablecoins are a dream of all crypto fans and evangelists of a decentralized economy.

Apart from the potential to conduct crypto transactions smoothly, experts believe it can bridge the two worlds – fiat and crypto, bringing them a mutually beneficial coexistence. However, that may take time.

Cover image via u.today
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