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⭐ Features
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Past-ICO Review: CPChain

  • Eric Eissler
    ⭐ Features

    IoT is hot and growing industry, but this token’s offerings are far from special, in fact, it appears not to serve much of a purpose

Past-ICO Review: CPChain
Cover image via u.today

Cyber Physical Chain, in case you are wondering what CP stands for, wants to be the new killer app for the Internet of Things (IoT) in China and abroad. According to their website, “CPChain is a new distributed infrastructure for next-generation IoT. CPChain intends to build a fundamental data platform for IoT system in combination with distributed storage, encryption computation and Blockchain technologies, providing the whole process solution from data acquisition, storage, sharing to application.”

Financials

CPChain ran an ICO for what appears to be one day on Jan. 24, 2018, where it raised $30 mln. The initial token entry price was $0.32 on Jan. 30. At the start, the token price was rather volatile with many ups and downs within the first seven days of trading. After the seventh day, the token price fell to a low, where it continued downwards to the current price, at the time of writing of $0.037. The market cap is still a healthy $14.3 mln and the circulating supply is 376 mln out of a total supply of one token shy of one bln.

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Team

The team does not have profiles on LinkedIn. The short notes listed about them are taken from CPChains website.

Chengnian Long- CEO & Founder

“Dr. Long is a full professor and has many years of experience in the fields of cyber physical system security, Internet of Things, distributed intelligent system with Blockchain technology. He has published more than 80 papers in internationally renowned journals and conferences, and has more than 10 patents for invention.”

Bin Zhao- Co-Founder & CTO

“Dr. Zhao has more than 12 years research and development experience on communication, Internet of Things and fintech. Extended experience in management of R&D team. He has three patents on inventions in Internet of Things.”

Qingwei Shi - Co-Founder & COO

“Founder of the shared finance and HPB, participated in the preparation and investment of many projects.”

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IoT, Big Data, and more, oh my!

So what is Big Data and IoT all have to do with CPCHain? Well According to the website,

“The core feature of the CPChain is to realize the transmission of the value of cyber-physical systems. The main technology contribution is to propose a systematic scheme to address the scalability and real-time problems of Blockchain technology in IoTs from the perspective of data storage and computation, and consensus protocols, including parallel distributed architecture, two-layer hybrid consensus mechanism and lightweight side chain consensus protocol.” Looking at the roadmap, CPChain is still a ways away from getting its mainnet online, according to roadmap, we can expect a fourth quarter 2018 release of the mainnet. However, full implementation of the system will not be until 2020 if at best.

IoT, IDK

While IoT has a lot of potential, and we are seeing it more and more in industrial applications and at home, CPChain does not seem to offer anything that really sets them apart from the competition, nor anything that is groundbreaking. There is a token, but there are no details of how it will function or what purpose it serves. While the company has potential, there is just nothing that is standing out and it just falls flat.

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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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0
📰 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!

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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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