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⭐ Features
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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
Cover image via u.today

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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About the author

Eric Eissler is based in Chicago and works in higher-education administration and finance. He is a freelance writer covering blockchain technology, fintech, cryptocurrency, the oil and gas industry, and international politics.

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📰 News
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Top Bitcoin Miner Warns – Bitcoin’s Privacy Features Are ‘Quite Poor’

  • Yuri Molchan
    📰 News

    The head of a major Bitcoin mining pool says that Bitcoin privacy is weak and must be improved to prevent BTC from avoiding governments’ clampdown

Top Bitcoin Miner Warns – Bitcoin’s Privacy Features Are ‘Quite Poor’
Cover image via www.123rf.com

The CEO of one of the largest BTC mining pools, Poolin, has recently stated in an interview that Bitcoin privacy has to be improved. The current privacy features make BTC vulnerable to potential regulatory bolt tightening, says he, as reported by Forbes.

The Poolin mining company was set up by several former employees of BTC.com – a world’s major mining pool, a subsidiary of Bitmain. Among them was the Poolin’s current CEO Kevin Pan.

“Bitcoin’s privacy features are quite poor”

Over the past years, developers have suggested several ways to improve Bitcoin’s privacy. However, those were rejected by the community, since they would hard such major things as security, scalability, etc.

A good example here is Confidential Transactions that were among those suggestions. They disguise the amount of BTC sent in transactions. However, the integration of it was rejected, since it could have had a negative impact on the public verifiability of the present BTC supply.

Kevin Pan says that privacy is much more vital for a crypto asset development than scalability. Pan says:

“There is no other big question if the privacy issue is solved.”

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Governments may start controlling BTC miners

The company CEO believes that in theory, authorities or law-enforcement agencies may start telling miners to block certain address from receiving funds or sending them. However, in that case that would have to be 51 percent of the BTC network.

Pan believes that unless a solution to this problem is found soon, governments will get a chance to prevent transactions to certain addresses from happenning.

“What is more troublesome now is if government or law enforcement departments begin to create a blacklist of transaction addresses, it will make certain transactions unable to be packaged.”

“In fact, these can be done. But if there is privacy, you can't know who the address belongs to, and you can't determine how much the amount is, and there is no way to control the currency system. So for me, Bitcoin is basically no problem if the issue of privacy can be solved.”

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China plans to clamp down on BTC miners

Previously, U.Today reported that Inner Mongolia, an autonomous region of China, plans to ban all the numerous mining pools located there soon.

Since this region is one of the biggest local crypto mining areas, some believe that China is about to ban mining of all cryptocurrencies ahead of the so-called ‘China Coin’ launch.

Do you think that poor Bitcoin’s privacy features could indeed bring down regulatory control over BTC one day? Feel free to share your view in the comments section!

Join our Telegram channel to get news even faster!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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