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While a Republic, Hidden Order of the Atomic Swap Goes Unnoticed: Past-ICO Review

  • Eric Eissler
    🕵️‍ ICO Watch

    Don the cape and cowl, the secret trading society is among us. They want to move big crypto without you noticing it, written in the sacred hidden order book


While a Republic, Hidden Order of the Atomic Swap Goes Unnoticed: Past-ICO Review
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While the name rings of something regal, the dealings of Republic Protocol are all but that. Its claim to fame is its dark pools and it’s hidden transactions. This is something people who don’t want there transfers to be seen would be keen to employ, such as whales, who do not want to upset markets when they sell off, in order to put a bit of walking-around money in their pockets. This is an atomic-swap technology, which allows for the exchange of one cryptocurrency for another without going through an exchange, where all the transactions are recorded.

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Financials

Republic Protocol raised some $34 mln on Feb. 3, 2018. Its token price has been a bit topsy-turvy. Debuting at $0.079 on Feb. 21 and falling up to $0.13 on May 17 before falling down to $0.024 at the time of writing. Again, this is a utility token and not an investment token, with a sole purpose of moving large amounts of crypto, undetected.

Unhooding the team

For the creators of the darkness might have reason to hide, this team is obscure.

Taiyang Zhang- CEO

Has had several positions over the past four years as a developer or advisor, but lists nothing before 2015, nor his education.

Loong Wang- CTO

Also shrouded in mystery, Wang has only listed several years of experience on his LinkedIn profile. He does list a university but without a graduation date. His work experience only dates back to 2015.

Noah Ingham- Developer

There is no LinkedIn profile, he is totally in the shadows.

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Like a secret society

There are hidden order books and atomic swaps, which do not pass through exchanges but directly exchange one token for another. Browsing the website, there is not much information offered up by its creators. While it does not appear to function fully, there is a testnet link. But not much else. Therefore, the review of this can only remain shrouded in mystery because the website leaves many questions to be answered.

Republic Protocol uses a secret sharing scheme to separate orders into multiple fragments distributed throughout the network. The original order could not be recreated without collecting most of the fragments. To protect against malicious acts with these "fragments" of orders, Republic Protocol uses the smart contract Ethereum called Registrar, which collects network nodes in the network topology. This establishes a high price for an attacker to "collect" fragments, because one or more individual nodes, even whole topologies, will not help. The Republic Protocol system is a decentralized exchanger with a hidden order book that executes orders without disclosing specific details, where the Republic Protocol token is used as a motivator and a means of protecting the system.

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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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