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Past-ICO Review: 0-Cost Enterprise Blockchain Solution

  • Eric Eissler
    🕵️‍ ICO Watch

    0Chain wants to be the zero-cost enterprise Blockchain that can sell larger than Ethereum


Past-ICO Review: 0-Cost Enterprise Blockchain Solution
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0Chain wants to build a Blockchain solution that enables decentralized cloud storage, fast settlement/finality, and the notion of self-forking, all wrapped in a DPOS consensus model.


The main interest here is in IoT and decentralized apps that can benefit from running in the cloud, using their costless distributed file storage methodology in a wholly integrated platform. Right now, current solutions require using a number of different solutions and building the complex middleware to make sure all of these discrete systems can talk to each other. 0Chain is attempting to cut the middleware out and simplify the process.

Financials

0Chain had a 10-day ICO from Feb. 7 to Feb. 17, 2018, and raised some $39 mln during that time. One ZCN was valued at $1.40 during the ICO sale. Following the token value trajectory, we can some strange things. First of all, the token was not released for public trading until July 2, almost five months after the token sale had ended. During this time, the token lost 65 percent of its value while it was hanging out of public reach when it publicly debuted at $0.49. Progressing further down the relatively short public trading timeline, ZCN has fallen down to $0.12 in a very short three-month trading period.

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Team

SASWATA BASU- Founder & CEO

With a PhD in electrical engineering and an entrepreneurial spirit, Basu has worked at and managed many companies in the tech sector before founding 0Chain. He appears to have the right mix of business, tech, and engineering to launch a startup.

THOMAS AUSTIN - Co-Founder

Currently, a professor at San Jose State, Austin’s areas of expertise are programming language security and malware analysis. Additionally, he has been studying cryptocurrencies and ways to make them more efficient. Hence, his willingness to co-found 0Chain

SIVA DIRISALA- CTO & VP of Engineering

With more than 15 years of working business enterprise software, Dirisala has the technical knowledge and experience to head up a team of developers to create an enterprise Blockchain solution.

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Tech and Testnet Launch

Decentralized storage via Blockchain, as an innovation, requires significant feature development to be considered enterprise ready. According to the company’s website,

0chain’s engineers have developed customizable algorithms for data to be stored and retrieved with the high availability enterprises are accustomed to. Leveraging our “Erasure Coding” protocol, there is a 40 percent reduction in space required to replicate data compared to current cloud-based storage solutions. The decentralized nature of the Blockchain delivers CDN-like performance based on the multiple parallel paths for data to traverse and minimizing the impact of network bottlenecks. All data stored via dStorage is consistently verified via the Blockchain.

At the start of August, 0Chain launched their testnet with strong results, according to a press release put out by the company: “Our first release has a throughput of about 150 transactions per second or about 10x that of Ethereum. The purpose of the initial release is to highlight the sub-second finality of our Blockchain, which is a requirement for enterprise applications and for our distributed storage protocol.” The company has worked very hard to stick to the ambitious roadmap that they laid out before them. Despite the tanked token price, it appears that the company is on the right track with something that could be a viable, tangible product.

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Cover image via u.today
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The Top Rate ICO Industries in 2018

  • Stavros Georgiadis
    📊‍ Infographics

    Investing in ICOs requires due diligence and analysis of potential risks and returns.


The Top Rate ICO Industries in 2018
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Investing in ICOs requires due diligence and analysis of potential risks and returns. CoinDesk is its article named “The Seven Pillars of ICO Investing” has listed the most important pillars to consider before deciding to invest or not on any specific ICO project.

These 7 Pillars are the following:

  1. Team
  2. Idea
  3. Execution
  4. Legal/Regulatory Framework
  5. Tokenization
  6. ICO Structure
  7. Price Divers

What is interesting and should not be surprising though in the ICO investing is the fact that business models and marketing, promotional channels differ significantly in the amount of fundraising, as some business categories have in general twice the median funding compared to the smaller ones. The following statistic may be useful to investors as it represents the ICO categories with highest median funding. A higher amount of funding may be justified by future business prospects about what investors believe are the most promising trends that could be deliver desired returns on investments given the risks taken.


Categories with highest median funding in 2018:

  1. Blockchain Infrastructure
  2. Internet & Telecommunications
  3. Computing & Data Storage
  4. Data Analytics
  5. Asset Management
  6. Legal Services
  7. Social Media & Communication
  8. Supply & Logistics
  9. IT
  10. Identity & Reputation

These business categories are referenced not in random order, but from highest to lowest order of median funds raised. The Blockchain Infrastructure category has the highest median funds raised at $ 7,012,289, while the Identity & Reputation category has the lowest median funds raised in 2018 at $ 3,750,000. The first and last business categories have a significant difference between them in terms of median funds raised as the Blockchain Infrastructure category is 87% larger than the Identity & Reputation category.

Another key interesting statistic in ICO investing is the geographical distribution of projects fundraising in the third quarter of 2018. The following infographic shows that there are again very large differences within continents. Europe and specifically Russia with $ 182.9 Million was the largest market, Israel with $19.6 Million was the smallest market, while South Korea witnessed a significant drop in fundraising as according to ICORating, in Q3 2018, 17 projects with South Korean origins raised USD 68 million, compared with 16 projects and USD 301 million in Q2 2018.

Geographical distribution of projects based on origin of the project team, Q3 2018

Geographical distribution of projects based on origin of the project team, Q3 2018

Country of origin means a country in which more than 50% of team members were living at the time of an ICO.

Another point worth mentioning is that in Q3 2018 USA had the largest number of projects compared to all mentioned countries in the above infographic, still Russia with a smaller number of projects, 63 was as mentioned the largest market.

Cover image via u.today
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