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Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading

Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading
AX Trading LLC (AX), a technology-enabled registered broker-dealer and Alternative Trading System (ATS) operator, today announced a strategic partnership with Quant Network a pioneering technology company providing financial and regulatory technology as well as interoperability in financial services, payments and capital markets infrastructure. Through this partnership, Quant Network’s technology, Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of interoperable regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets. George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.” It is expected that the first interoperable digital asset offering may commence as soon as January 2020, and that the AX Trading ATS may be ready to enable and list interoperable digital assets and securities in 2020.
Let’s have a closer look at what that means to truly appreciate the significance of the partnership by covering the basics for those not familiar with wall street.
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What is an Institutional Investor / Trader?

An institutional investor is an organization that invests on behalf of the organization's members. They consist of hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds, or any other type of money management firm.
Institutional investors account for about three-quarters of the volume on the New York Stock Exchange (which alone handles more than $20 Trillion a year in volume). In the US, Institutional investors own about 80 % of the total market value of the equity (stock) market, which globally is worth more than $73 trillion.
Wall Street refers to the institutional investors I mentioned above whereas Main Street refers collectively to members of the general public who are not accredited investors and the overall economy as a whole.
Whilst the Equity Market is huge, Institutional investors also invest in other securities which are prime to be tokenised such as Real Estate Market (Globally worth $217 trillion), the Debt Market (Globally worth $215 trillion) and the Derivatives Market (Low end estimates at $544 trillion and high-end estimates at $1.2 quadrillion). All of which makes the current market cap for cryptocurrencies look like a drop in the ocean.

Who are AX Trading?

AX Trading is a SEC-registered broker-dealer and Alternative Trading System (ATS) Operator. They are a member of FINRA (Financial Industry Regulatory Authority)and SIPC ( Securities Investor Protection Corporation) regulated authorities. The SEC has some of the most stringent regulations in the world for listing securities and there are fewer than 50 SEC-registered Alternative Trading System Operators in the United States, of which only a handful are currently implementing Digital Assets. Others are awaiting regulatory approval with Coinbase, Circle etc are all looking at getting into this huge market.
https://www.coindesk.com/stonewalled-by-finra-up-to-40-crypto-securities-wait-in-limbo-for-launch
AX Trading have investors and sponsored brokers including the likes of Credit Suisse, (a multinational investment Bank and Financial services company worth $27.5 billion). AX currently have over 800 Institutional traders (these are not individuals, but corporations such as hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds etc).
AX Trading have also partnered with Euronext, the largest Stock Exchange in Europe with a market cap of $4.65 trillion as of 2018, in the creation of Euronext Block which utilises AX Trading.

What is an Alternative Trading System?

An Alternative Trading System (ATS) is an SEC-regulated trading venue which serves as an alternative to trading at a public exchange. ATS account for much of the liquidity found in publicly traded issues worldwide. They are known as multilateral trading facilities in Europe, electronic communication networks (ECNs), cross networks, and call networks
AX is the world’s first “Electronic Trading Network” (ETN) where institutional traders can proactively connect and trade with other counterparties in a secure environment. Unlike traditional stock exchanges/ECNs that show orders to everyone and traditional dark pools/crossing systems that show orders — presumably — to no one, AX allows institutional traders to pick and choose WHOM they want to notify and also WHAT information they want to share with them.
Institutional investors may use an ATS to find counterparties for transactions instead of trading large blocks of shares on national stock exchanges. These actions may be designed to conceal trading from public view since ATS transactions do not appear on national exchange order books. The benefit of using an ATS to execute such orders is that it reduces the domino effect that large trades might have on the price of an equity.

How does AX Trading Work?

The AX Trading process begins when one trader sends an “initiated” order to AX. The order can be routed to the AX ATS via one of our broker sponsors such as Credit Suisse. The initiated order triggers a “Call Auction” on AX, a period of time when the order will rest in AX to be matched against other orders from auction responders.
The Initiator of an AX auction decides who they want to invite to participate in the auction, whether they be all 800+ institutional members or targeted to specific ones, as well as how much info they want to disclose about the order. Based on these instructions, the AX ATS then notifies the members inviting them to participate in the trade.
The invited members can then participate in the trade by either placing buy orders of their own or placing sell orders. At the end of the AX auction period, all orders are brought together, and a match is performed.
In the traditional, continuous market with displayed bids and offers, traders are often chasing liquidity. In other words, the price may move away from them the more they buy or sell to what is commonly called “market impact.” On AX, the advantage of their call auction model is it brings liquidity — in the form of participant orders to the buyer rather than them chasing liquidity.

What is a Security Token?

Security Tokens are different than Utility Tokens or Cryptocurrencies. A security token is a digital representation of a traditional security. It may represent shares in a company, interest in a fund, real estate, art collectables, or essentially any asset a party can own. Anthony Pompliano wrote an article explaining tokenised securities in more detail which you can see here
Security Tokens are digital assets subject to federal security regulations. In layman terms, they are the intersection of digital assets (tokens) with traditional financial products — a new technology improving old things. If cryptocurrencies like Bitcoin are considered “programmable money” then you can consider Security Tokens a version of “programmable ownership.” This means that any asset with ownership can and will be tokenized (public & private equities, debt, real estate, etc).
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Quant Network community member David W also wrote an excellent piece on the benefits of tokenisation of assets in a lot more detail than what I will briefly cover here and strongly recommend you check it out.
The Tokenisation of assets is therefore inevitable, because it is a better way to record, exchange and monitor asset ownership for all parties involved. The amounts at stake represent many hundreds of trillions of US dollars

What are the benefits of a security token?

  • Lower Fees — having Smart Contracts and compliance programmed into the token itself removes the need for middlemen, reducing costs. Post Trade businesses such as clearing houses would also no longer be required further reducing costs.
  • 24/7 markets — Currently the major US stock markets trade between 9:30am and 3pm during weekdays only. Trading can be done 24/7 and globally whilst remaining compliant.
  • Fractional Ownership — This greatly increases liquidity for previously illiquid assets. Real estate, Artwork, even assets such as Oil Refineries are already in talks about being tokenised through Overledger. If you have an asset such as an oil refinery worth billions of dollars, then naturally this limits the market should you ever want to sell it. However with fractional ownership you could own a tiny percentage of it and receive profits from the oil refinery based upon the percentage you own, which exponentially increases the number ofpotential buyers, increasing liquidity.
  • Rapid Settlement — Currently it takes 3 working days to settle a securities trade, this can be reduced to minutes by having the asset and fiat represented on a blockchain and handled through smart contracts.
  • Automated compliance — Security tokens are programmable, and rules and regulations are hard-coded into the architecture of the token to ensure they always remain compliant. This means that they can be traded globally and still ensure they respect the relevant countries regulations that the participants are located in.
  • The benefits that a blockchain provide such as transparency, security, immutability, high availability. Regulators can also run a node and verify compliance in real time.

Security Token Issuance Platforms

Security token issuance platforms allow issuers to issue Security tokens that represent the security such as Shares in their company etc in return for capital. This is known as a Primary Market. Importantly it’s not just the issuance that they look after, it’s the whole life cycle of a digital security to ensure they remain continuously in compliance as they are traded etc. They also provide reporting to the issuer so they can see who owns the tokens and what dividends to pay out.
Securitize are one of the leading security tokens issuing platforms. They have created the DS Protocol, a blockchain agnostic protocol for security tokens which manages the whole lifecycle of a digital security, ensuring it remains continuously in compliance. They have issued a number of security tokens on the Ethereum network as well as recently working with IBM to tokenise the Corporate Debt Market (worth $82 Trillion). On the back of this they joined Hyperledger, an open source project which includes Enterprise blockchains such as Hyperledger Fabric which IBM is heavily involved with.
https://tokenpost.com/Quant-Network-Securitize-and-others-join-Hyperledger-blockchain-project-1544
They recently also became the first SEC-registered transfer agent, which means Securitize can now act as the official keeper of records about changes of ownership in securities.
There are many companies in this sector which are utilising various blockchains, Other examples include:
  • Harber — R Token protocol for Ethereum
  • Polymath — ST20 protocol for Ethereum
  • Blockstate — a security token issuance platform recently announced plans to migrate a number of ERC-20 tokens from the public Ethereum blockchain to the permissioned blockchain R3 Corda
  • Dusk — Uses the Dusk blockchain
  • Own — Uses the Own blockchain
And many more such as Nefund, Bankex, Capexmove, Swarm, Symbiont, Tokeny etc

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Trading Venues

Whilst the issuance platforms above generally also include their own exchange where the token can be traded on, secondary markets such as those offered through traditional stock exchanges and Alternative Trading Systems provide significantly more liquidity.
Traditional Stock Exchanges have been very active in blockchain with some going through proof of concepts, to those like SIX SDX Digital Exchange which is due to launch later this year. They are using various blockchains and cover the full process from Issuance, Trading and Post Trade / Settlement services. I have briefly outlined which blockchain they are using / testing with along with source to read more about it below:
  • Switzerland’s Stock Exchange — SIX Digital Exchange issue, trading, settlement, custody — Corda — Source
  • Largest Stock Exchange in Germany — Deutsche Borse Franfurt Stock Exchange — Corda — Source and Source
  • South Korea’s Stock Exchange — Korea Exchange — Hyperledger Fabric — Source and Source
  • Japan’s Stock Exchange — Tokyo Stock Exchange — Hyperledger Fabric — Source which the consortium has now grown to 44 companies. Tokyo Stock Exchange are also testing JP Morgan’s Quorum for voting on the blockchain — Source
  • London Stock Exchange Group — Hyperledger Fabric — Source . They are also invested in Nivaura which utilises Ethereum — Source
  • Largest Stock Exchange in Europe — Euronext — Permissioned Ethereum via Liquidshare — Source as well as recently investing in Tokeny a blockchain based project based on public version of Ethereum — Source
  • Singapore Stock Exchange — Ethereum — Source

Post Trade — Central Security Depositories

Situated at the end of the post-trading process, CSDs are systemically important intermediaries. They thereby form a critical part of the securities market’s post-trade infrastructure, as they are where changes of securities ownership are ultimately registered.
CSDs play a special role both as a depository, involving the legal safekeeping and maintenance of securities in a ‘central depository’ on behalf of custodians (both in materialised or dematerialised form); as well as for the issuer, involving the issuance of further securities by issuers, and their onboarding onto CSDs’ platforms.
CSDs are also keeping a number of other important functions, including: dividend, interest, and principal processing; corporate actions including proxy voting; payment to transfer agents, and issuers involved in these processes; securities lending and borrowing; and, provide pledging of share and securities.
Blockchain technology will enable real-time settlement finality in the securities world. This could mean the end of a number of players in the post-trade area, such as central counterparty clearing houses (CCPs), custodians and others. Central Security Despositories (CSD) will still play an important role according to reports:
“CSDs could have an important role to play in a blockchain-based settlement system. As ‘custodians of the code, CSDs could exercise oversight of, and take responsibility for, the operation of the relevant blockchain protocol and any associated smart contracts.” Euroclear Report
Another group of 30 central securities depositories (CSDs) in Europe and Asia are researching possible ways to “join hands” in developing a new infrastructure to custody digital assets. The CSDs will attempt to figure out how to apply their experience in guarding stock certificates to security solutions for crypto assets.
“A new world of tokenized assets and blockchain is coming. It will probably disrupt our role as CSDs. The whole group decided we will be focusing on tokenized assets, not just blockchain but on real digital assets.”
You can read more about how blockchain will affect CSD’s here
Examples of CSD’s in blockchain
  • SIX Digital Exchange and Deutsche Borse are utilising Corda as explained in the trading venues section
  • DTCC the largest in the US process 1.7 Quadrillion US Dollars of securities every year and are planning on moving their Trade Information Warehouse to Axoni’s AXCore Blockchain (Based on permissioned version of Ethereum) later this year — Source
  • Canada CDS are using the Quartz blockchain from Indian IT Services Company Tata Consultancy Services — Source
  • Euroclear in collaboration with the European Investment Bank (EIB), Banco Santander, and EY are developing a blockchain solution — Source
  • French CSD’s too soon go live on Setl Blockchain — Source and Source
  • Russia’s National Settlement Depository is launching a blockchain project using D3ledger (based off Hyperledger) — Source

The Importance Of Interoperability

The evolution of DLT and the wide adoption across industries and across different market segments is resulting in many different ledgers networks, but the ultimate promise of DLT can only be realized when all ledger networks can seamlessly interoperate. — from the recent DTCC whitepaper with Accenture
Some challenges and constraints related to the market infrastructure ecosystem remain open and will need to be addressed in the future to sustain the development of DLT platforms for trading and the post-trade process. At this stage, the questions of interoperability and standardization across these DLT (probably permissioned) platforms remain open and we may see a list of platforms offering no scope for interconnection. This will prevent them from fulfilling the key “distribution” criterion of DLT. Another related challenge that may determine whether or not the technology is adopted is the ability to provide Delivery versus Payment (DvP) settlement, in particular in central bank money. Nevertheless, it is worth mentioning that settlement can also be facilitated in commercial bank money. — https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/technology/lu-token-assets-securities-tomorrow.pdf
It’s clear from the above that interoperability will be crucial in order to unlock the true potential of Distributed Ledger Technology. Issuance platforms will seek to interoperate with as many secondary exchanges as possible to provide maximum liquidity for issuers. Issuance platforms and secondary exchanges are each using a wide range of different blockchains that all need to interoperate as part of the trade process. CSD’s will also need to have interoperability between other CSD’s as well as to the secondary exchanges (again each using different blockchains).

Enter Quant Network’s Overledger

Quant Network’s blockchain operating system, Overledger, provides interoperability between any current and future distributed ledger technology as well as easily connecting Off Chain / Legacy networks as well as plans to connect directly to the Internet. Within 10 months it has proven it can provide interoperability with the full range of DLT technologies from all the leading Enterprise Permissioned blockchains such as Hyperledger, R3’s Corda, JP Morgan’s Quorum, permissioned variants of Ethereum and Ripple (XRPL) as well as the leading Public Permissionless blockchains / DAGs such as Bitcoin, Stellar, Ethereum, IOTA and EOS as well as the most recent blockchain to get added Binance Chain. All without imposing restrictions on connected chains, being Internet scalable and able to easily integrate into existing networks / infrastructure.
https://preview.redd.it/8p6hi942t0m31.png?width=1920&format=png&auto=webp&s=b0536ea9981306feb8bd95788c66e9a5727a4d58
Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets
https://www.quant.network/blog/redefining-wall-st-with-decentralised-capital-market-infrastructure-the-possibilities-of-quant-networks-overledger-technology-in-regulated-capital-markets
Overledger enables Universal Interoperability where digital assets can move across blockchains so that they can interact with smart contracts on different blockchains. It does this by locking the asset on one blockchain and then representing it on another blockchain either by creating a representing token or representing it via metadata. This will enable all of these different parties such as Issuance platforms, Exchanges, CSD’s, traders etc to move the digital asset from their respective blockchain onto AX Trading’s platform for secure, immediate and immutable trading to take place. Potentially it would even allow Digital Assets / Securities to settled on a public permissionless blockchain such as the recently connected Binance Chain in a completely safe, secure and compliant way.
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Regulators would be able to run a node and view transactions in real time ensuring that compliance is being kept. Potentially they could also benefit from using Quant Networks Multichain Search capability http://search.quant.network/ to be able to fully track assets as they move across blockchains.
George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.”

Securrency

AX Trading have also partnered with Securrency (who have previously tokenised over $260 million in real estate assets). Securrency provide a protocol that enables security tokens to remain in compliance regardless of what blockchain the token is on. Due to the layered approach that Overledger has adopted from the learnings of TCP/IP, this protocol can be easily integrated on top of Overledger to enable security tokens to move across blockchains as well as ensuring they remain in compliance with regulations programmed into the token.
https://youtu.be/vSQ2fu9iZGs

Delivery vs Payment (DvP)

A DvP transaction involves the settlement of two linked obligations, namely the delivery of securities and the payment of cash. DvP avoids counterparties being exposed to principal risk, i.e. the risk that the seller of securities could deliver but would not receive payment or that the buyer of securities could make payment but would not receive delivery. Following this requirement, a DvP securities settlement mechanism has to ensure that the delivery of securities and the payment of cash are linked in a way where one leg (obligation) of the securities trade is conditioned to the final settlement of the other leg (obligation) of the trade. Thereby final settlement is defined as “the irrevocable and unconditional transfer of an asset or financial instrument, or the discharge of an obligation by the FMI or its participants in accordance with the terms of the underlying contract”. — STELLA — a joint research project of the European Central Bank and the Bank of Japan
We have seen how Overledger can provide interoperability for the securities to move across Issuers platforms, integrate with Stock exchanges, Central Security Depositories and AX Trading. Now we need to be able to ensure that payment is guaranteed and in a way that offers immediate settlement which is irrevocable. To do this we need to represent FIAT on the blockchain so that it can interact with smart contracts and settle transactions on the blockchain.

J.P.Morgan’s Coin

J.P.Morgan is the largest bank in the United States and ranked by S&P Global as the sixth largest bank in the world by total assets as of 2018, to the amount of $2.535 trillion.
J.P. Morgan was the first U.S. bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin is based on blockchain-based technology enabling the instantaneous transfer of payments between institutional clients.
With J.P.Morgan’s $2.6 trillion balance sheet, expertise in blockchain and global payments network, J.P. Morgan can seamlessly and securely transfer and settle money for clients around the world. J.P. Morgan are supervised by banking regulators in the United States and in the international jurisdictions in which it operates.

How does JPM Coin work?

A Buyer purchases JPM coins in advance which get represented on the Permissioned Quorum blockchain ($1 =1 JPM Coin). Quant Network’s Overledger could then provide interoperability to lock those tokens on Quorum and represent those onto another blockchain / AX Trading’s Network. By being able to represent securities and FIAT on the same blockchain (even though the underlying assets are on different blockchains) this provides instant finality / settlements to occur.
Once the seller receives the JPM coin in exchange for the securities they have sold they will be able to redeem them for USD. It also doesn’t necessarily mean that they have to have a JP Morgan account to redeem them, you could imagine in the future that the Bank instead redeems the JPM Coin and credits the users account. Similarly the buyer of the security token redeems the represented token and unlocks the security token on the original blockchain.
You can read more about JP Morgan’s Coin here as well as its use cases
J.P Morgan is betting that its first-mover status and large market share in corporate payments — it banks 80 percent of the companies in the Fortune 500 — will give its technology a good chance of getting adopted, even if other banks create their own coins. “Pretty much every big corporation is our client, and most of the major banks in the world are, too,” Farooq said. “Even if this was limited to JPM clients at the institutional level, it shouldn’t hold us back.”
Overledger enables different securities tokens / digital coins representing FIAT currencies to be brought together from the various permissioned / permissionless blockchains onto one platform where trading / settlement can take place. Overledger is the only technology that can do this today across the leading permissioned and permissionless blockchains as well as existing networks, all in a secure, scalable and easy to integrate way.
https://preview.redd.it/ngt7q7hdt0m31.png?width=738&format=png&auto=webp&s=60166bdc0fcdf72a502e3472a09de5ddb5e1eb69
Quant Network are working with AX Trading to bring more digital assets, securities and tokenised assets to their existing 800 institutional traders in an already live and connected FINRA and SEC regulated exchange. AX Trading is not just about trading securities but other digital assets such as Bitcoin, Ethereum and potentially even Quant in the Future.
https://preview.redd.it/ibecorcft0m31.png?width=1286&format=png&auto=webp&s=94540cf49654e36a8155f424c2a4bdb5fd549558
This is a multi-trillion dollar market with huge global enterprises, traditional exchanges and global banks are all adopting DLT at a rapid pace and going into production at scale in a matter of months, examples include the NYSE Bakkt launching Bitcoin futures later this month, Swiss Stock Exchange ($1.6 Trillion market Cap) is due to launch their digital exchange running on Corda (SDX) by the end of the year. The DTCC are due to launch their Trade Information Warehouse which processes $10 Trillion of cleared and bilateral derivatives by the end of the year. JP Morgan who transfer $6 Trillion every day are due to launch their JPM coin at the end of year and AX Trading is due to offer their first digital asset by January 2020.
Quant Network’ Overledger enables the bridging of traditional finance infrastructure with the new decentralised finance infrastructure DeFi of the future, helping to redefine Wall Street and Capital Markets.
https://medium.com/@CryptoSeq/wall-street-2-0-17252ffd8919
submitted by xSeq22x to QuantNetwork [link] [comments]

Daily analysis of cryptocurrencies 20191127(Market index 20 — Extreme Fear state)

Daily analysis of cryptocurrencies 20191127(Market index 20 — Extreme Fear state)

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Travala Partners With Booking.com To Enable Crypto Payments At Worldwide AccommodationsTravala, a blockchain-based hotel booking platform, has partnered with online travel agency giant Booking.com to enable crypto payments at accommodations around the world, according to a press release.In addition to traditional currencies, Travala supports payments with its native utility token, AVA, and 20 other leading digital assets, including Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, BNB, Stellar, and Cardano.
UPbit Might Be Hacked Transferring Large Amount Of Cryptocurrency To Unknown WalletsAccording to a news report, South Korean cryptocurrency exchange UPbit stopped trading after a cryptocurrency withdrawal of about 60 billion won. UPbit released a notice at around 04:30 UTC on Nov 27, which reads UPbit will temporarily suspend cryptocurrency deposits and withdrawals due to server check.According to relevant persons in crypto, it has not been confirmed whether the exchange has been hacked or has transferred the cryptocurrencies to a cold wallet. Generally speaking, users will be notified in advance when the exchange transfers a large amount of cryptocurrency assets. Communities suspected UPbit was hacked. Currently, regulators such as the Korea Internet & Security Agency (KISA) are investigating whether UPbit has been hacked.
Fidelity Starts To Reward Employees in CryptoFidelity Investments, a multinational financial service giant, has started to incentivize its employees in digital currencies.For the pilot initiative, Fidelity’s Center for Applied Technology’s (FCAT), the company’s research and development arm, collaborated with TokenSoft and is using the ERC-1404 token standard.
https://preview.redd.it/dhgk5m30q7141.png?width=504&format=png&auto=webp&s=4ef839930a06165a4b5f06513ff001ffd43397e9

This past week, litecoin price struggled to climb above the $50.00 resistance area against the US Dollar. As a result, LTC price extended its decline below the $45.00 support and the 100 hourly simple moving average.
Moreover, it traded close to the $42.00 level and formed a new monthly low at $42.15. Later, there was an upside correction, similar to bitcoin, Ethereum, ripple and BCH.
Litecoin recovered above the $44.00 and $45.00 resistance levels. Besides, it spiked above the $47.00 level and the hourly simple moving average. However, the upward move was capped by the $47.50 resistance area.
More importantly, there is a major bearish trend line forming with resistance near $47.80 on the hourly chart of the LTC/USD pair. If there is an upside break above the $47.80 and $48.50 resistance, the price could continue to rise.
Review previous articles: https://medium.com/@to.liuwen

Encrypted project calendar(November 27, 2019)

OKB (OKB): 27 November 2019 OKEx Cryptour Vinnytsia “Join us in Vinnytsia as we journey through Ukraine for our OKEx Cryptour!”Fetch.ai (FET): 27 November 2019 London Meetup “Join us on 27 November @primalbasehq to hear an exciting progress report as we prepare for the launch of our #mainnet”Nebulas (NAS): 27 November 2019 AMA with Founder “Ask your questions on the Nebulas subreddit today & join the live AMA via Telegram on November 27th.”EDC Blockchain (EDC): 27 November 2019 Educational Workshop Educational workshop in Puerto Ordaz.

Encrypted project calendar(November 28, 2019)

Horizen (ZEN): 28 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.IOTA (MIOTA): 28 November 2019 London Meetup “Healthcare Professional Interest Network: Is AI the end of Healthcare?” meetup in London from 18:30–21:30 (GMT).Aeternity (AE): 28 November 2019 Vienna Workshop “Come learn more about AE’s functional language Sophia and layer-1 oracles and state channels.”Honest (HNST) and 1 other; 28 November 2019 Telegram AMA “Book your date for Honest Mining AMA with @vexanium, November 28th, 2019 on Honest Mining Telegram Group and Vexanium Telegram Group.”Waves (WAVES); 28 November 2019 AMA with Sasha Ivanov “This Thursday Nov 28 we’re hosting a live-streamed AMA with Sasha Ivanov to discuss where Waves stands and where we’re heading in 2020.”

Encrypted project calendar(November 29, 2019)

Zenon (ZNN): 29 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”Tael (WABI); 29 November 2019 Founders AMA “Three days to go until our Founders #AMA, this Friday, hosted by @binance.”

Encrypted project calendar(November 30, 2019)

Ethos (ETHOS): 30 November 2019 (or earlier) Rebranding “In November, we unveil the broker token, a dynamic utility token to power our commission-free crypto trading and broker platform, Voyager.”Digitex Futures (DGTX): 30 November 2019 Public Testnet Launch “…We can expect to see the world’s first zero-commission futures trading platform live on the Ethereum public testnet from 30th November.”Monero (XMR): 30 November 2019 Protocol Upgrade “Preliminary information thread regarding the scheduled protocol upgrade of November 30.”Chiliz (CHZ): 30 November 2019 (or earlier) Fiat to CHZ Exchanges “We will add another two fiat to $CHZ exchanges in November…”Skrumble Network (SKM): 30 November 2019 (or earlier) P2P & Group Calling “P2P & Group Video Calling,” during November 2019.Aergo (AERGO): 30 November 2019 (or earlier) Mainnet 2.0 Upgrade Mainnet 2.0 Protocol update by end of November.Akropolis (AKRO): 30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Nash Exchange (NEX): 30 November 2019 (or earlier) Mobile Strategy Phase 2 “Phase 2 of our mobile strategy will be live soon with our wallet and portfolio app hitting stores in November!”Akropolis (AKRO): 30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Pakcoin (PAK): 30 November 2019 Staking Mobile App Android app for staklet is going to be launched on November 30th.

Encrypted project calendar(December 1, 2019)

Auxilium (AUX): 01 December 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity.I/O Coin (IOC): 01 December 2019 Pos Reward Halving IOC block reward halving is happening on December 1st 2019.ABBC Coin (ABBC) 01 December 2019 Migration Requests Start “Migration requests from the #AladdinPro Wallet will be accepted starting on December 1, 2019.”

Encrypted project calendar(December 2, 2019)

Bitcoin (BTC): 02 December 2019 CME Futures BTCX19 Bitcoin Futures Contract (BTCX19) settles on December 02, 2019.Waves (WAVES): 02 December 2019 Waves Exchange Launch “As of November 18, users will be able to import their accounts and seed phrases, and, on December 2, the new exchange will be launched.”BZLCOIN (BZL): 02 December 2019 New Website New website and pre-launch “Patron”.Decentraland (MANA): 02 December 2019 Creator Contest “Announcing the Creator Contest, from Dec 2–15. Submit your most creative interactive scenes for a share of $50k USD worth of prizes up.”Bitcoin (BTC); 02 December 2019 CME Futures BTCX19 Bitcoin Futures Contract (BTCX19) settles on December 02, 2019.

Encrypted project calendar(December 3, 2019)

Aeternity (AE): 03 December 2019 Sofia, Bulgaria Meetup “Come hear @noyyy and @em introducing the project, followed by talks by Karol Skočik, Juraj Hlista, and Stephan Verbücheln.”Quant (QNT) 03 December 2019 QuantX London Conference “QuantX is a half-day event being curated by Quant Network with an audience of 100 industry professionals from across the fintech…”

Encrypted project calendar(December 4, 2019)

Aeternity (AE) 04 December 2019 Sofia Hackathon “The next aeternity blockchain hackathon will be held in Sofia, Bulgaria, on December 4th, 2019!”

Encrypted project calendar(December 5, 2019)

***OKB (OKB):***05 December 2019 OKEx Cryptour Kyiv Ukr “Join us in Kyiv as we journey through Ukraine for our OKEx Cryptour!”Horizen (ZEN) 05 December 2019 Weekly Insider Team updates at 4:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(December 6, 2019)

TenX (PAY): 06 December 2019 COMIT Hackathon “The #hackathon will be held over the weekend of 6–8 Dec at the TenX HQ in Singapore.”Noah Coin (NOAH) 06 December 2019 Japan Roadshow — Sendai “As you know, we are organizing the trip to the cities of Japan in December.”

Encrypted project calendar(December 7, 2019)

Storm (STORM): 07 December 2019 Loyalty Program Registration for our fourth and last loyalty program will end on December 7th!MediBloc [ERC20] (MEDX): 07 December 2019 Token Swap Deadline “Please submit your swap before 7th of December 23:59(UTC+9).”OKB (OKB); 07 December 2019 OKEx Talks 2019 Calabar “Join us on 7 Dec for our first OKExTalks in Calabar, where we will be discussing ‘Digital Assets and Tokenization’.”Dash (DASH); 07 December 2019 Open House “.. Dash Core Group will be hosting the Dash Evolution Open House on Dec 7th… in Scottsdale, AZ, from 1pm to 5pm MST.”Noah Coin (NOAH); 07 December 2019 Japan Roadshow — Tokyo “As you know, we are organizing the trip to the cities of Japan in December.”

Encrypted project calendar(December 8, 2019)

Noah Coin (NOAH) 08 December 2019 Japan Roadshow — Nagoya “As you know, we are organizing the trip to the cities of Japan in December.”

Encrypted project calendar(December 10, 2019)

OKB (OKB) 10 December 2019 OKEx Talks — Rotterdam “Join us on 10 Dec to explore “Decentralized Finance” & the benefits & opportunities it presents.”.Newscrypto.io (NWC) 10 December 2019 (or earlier) Platform Redesign Updates: Brand new Landing page, New Trading Tools and Updated School Program.IOTA (MIOTA) 10 December 2019 Karlsruhe Meetup “Come learn about the IOTA technology! Dec 10 at 6PM CEST.”OKB (OKB) 10 December 2019 OKEx Talks — Rotterdam “Join us on 10 Dec to explore “Decentralized Finance” & the benefits & opportunities it presents.”.Newscrypto.io (NWC) 10 December 2019 (or earlier) Platform Redesign Updates: Brand new Landing page, New Trading Tools and Updated School Program.

Encrypted project calendar(December 11, 2019)

Waves (WAVES) 11 December 2019 Annual Meetup ‘See you in Berlin on December 11, 2019!”Cindicator (CND) 11 December 2019 Event for CND Ecosystem “New horizons of the CND ecosystem,” with “More details to be released” at 14:00 UTC.IOTA (MIOTA) 11 December 2019 Berlin Meetup “Join us for the “2019 recap & 2020 outlook” MeetUp, organized by IOTA & @iotashop.”Cosmos (ATOM) 11 December 2019 Cosmos Hub 3 Chain “Cosmonauts, buckle up & get ready for the hub upgrade to the Cosmos Hub 3 chain. A new proposed date is set for Dec 11 at…”

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Stellar Lumens HODL alert: 2017 Round up, Partnerships, Lumens vs. Other Cryptos

Welcome everyone! The future of Stellar Lumens is bright! Today we will look at the accomplishments of Stellar.org in 2017.
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2017 Round Up
IBM / Stellar Partnership
• Kik Messenger’s KIN coin to move from Ethereum to Stellar in 2018
• Stellar ATM introduced in Singapore
• Jed McCaleb confirms IBM/Stellar has 30 banks on board (Youtube Video)
Lightyear.io enables forward thinking financial entities to easily join the Stellar ecosystem.
• IBM adds 8 new validators from 8 different countries onto the Stellar network (article)
Forbes calls Stellar “venmo, but on a global scale - and for larger bodies like banks and corporations.”
• Stellar Lumens Is Up 6,300% Since March and Is Aiming for Big Blockchain Partners (article)
• Many new partnerships (listed below) that will be using the Stellar network in 2018.
Binance and GoPax Exchanges Adds Stellar
Ledger Nano S support is now available for Lumens (XLM)
• The next coin to break into the top 10 cryptos (article)
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2017 Partnerships & Financial Institutions
IBM - is an American multinational technology company headquartered in Armonk, New York, United States, with operations in over 170 countries. IBM partnered with Stellar to help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost of completing global payments for businesses and consumers.
SatoshiPay - a web payment system that helps online publishers monetize digital assets like news articles, videos, or PDFs in tiny increments without friction.
EXCH.ONE - is a FinTech software company based in Switzerland currently working to integrate its platform and its first technology adopter Euro Exchange Securities UK Ltd. into the Stellar network. This addition to the Stellar network will bring access to currency markets of South and Central America,UK and a number of EU countries.
Novati (ASX:NOV) - is an Australian-based software technology and payment services provider. Novatti is currently working to integrate it’s platform into the Stellar network with the ultimate aim to build a global money transfer solution to provide cross border, cross currency and cross asset payments.
Pundi X - is an Indonesia based fintech company that provides POS device, debit card, multi-currency wallet that empowers individuals to buy and sell cryptocurrency at any physical store in the world. They say "buying cryptocurrency should be as easy as buying a bottled water."
MoneyMatch - is a Malaysia based fintech startup that provides a fully-digital peer-to-peer currency exchange platform for customers to transfer and exchange foreign currencies with complete ease and at great value. The company plans to integrate with the Stellar network and enable pay in and pay out from Malaysia.
Streami - is a Korea based fintech company that offers blockchain enabled cross-border remittance service and recently launched a cryptocurrency exchange. The partnership extends both on the exchange side and remittance operations.
Neoframe - is developing and marketing trading solutions for big brokerage firms in Korea and extends its business to blockchain based applications. Neoframe developed high performance centralized cryptocurrency exchange as well as secure wallet solutions and is working with big financial players. The company is planning to launch a remittance business for ASEAN countries (Thailand, Vietnam, Indonesia, Malaysia, Philippines, Singapore, Myanmar (Burma), Cambodia, Laos, Brunei) using Stellar.
SureRemit($RMT) - is a Nigeria based global non-cash remittances company. SureRemit leverages the Stellar blockchain platform to connect immigrants abroad directly with merchants that provide the services needed by their loved ones back home. With Remit tokens, immigrants all over the world can access digital shopping vouchers that can be spent on goods and services at accepting merchants wherever they are.
Cowrie Integrated Systems - is a Nigerian based Value Added Service Provider. Cowrie provides services at the intersection between telecoms and finance. Cowrie recently joined the Stellar network to bring novel fintech services to the African market.
Smartlands - is a Stellar-based platform designed to create a new class of low-risk tokens, secured by real, profitable assets in the real-world economy. Smartlands is designed to promote investments in the agricultural sector by allowing investment in individual projects, agricultural companies or indexes of groups of projects. These investments will be fully collateralized by agricultural real estate, other productive assets such as fruit or nut trees or, in some cases, the actual crop.
Klick-Ex - is an award winning regional cross-border payments system delivering financial infrastructure for emerging markets. It has been responsible for dramatic uptake in digital financial services in unbanked regions of the world, and lowering costs for banks, central banks and consumers in low liquidity currencies. Its key presence is in the Pacific and Europe, and it is a founding member of www.APFII.org processing more than 775,000 transactions per second, per billion of population (source).
Mobius - Mobius connects any app, device, and data stream to the blockchain ecosystem. Our simple and easy to use bidirectional API allows non-blockchain developers to easily connect resources to smart contracts and more. The Mobius MVP acts like Stripe for Blockchain by introducing innovative standards for cross-blockchain login, payment, smart contract management, and oracles. The Mobius Team includes David Gobaud, Jed McCaleb (Stellar.org founder), Jackson Palmer (creator of Dogecoin), and Chandler Guo (notorious Bitcoin & blockchain investor).
Chaineum - Chaineum, the first French ICO Boutique, will use the Stellar network for upcoming ICOs. “Chaineum is positioned as the first “ICO Boutique” in France, providing a range of end-to-end services to companies and international start-ups wishing to develop with this new funding mechanism. Chaineum is preparing 8 ICOs by the end of 2017, for European, North American and Asian companies, of which cumulative amount could reach € 200 million." (source)
Poseidon Foundation - Poseidon will simplify the carbon credit market with the creation of an ecosystem built on Stellar.org’s blockchain technology. This technology will prevent double counting of carbon and will be consistent across jurisdictions, making it easier for companies to deliver and measure progress towards their climate targets or other goals such as deforestation-free commitments.
Remitr - Remitr is a global platform for cross border payments, licensed in Canada. Remitr uses the Stellar network for international settlements for businesses as well as other payment partners. Remitr’s own payout network of 63 countries, comprising several currencies, is extended onto the Stellar network.
MSewa Software Solution (MSS) - MSewa Software Solution (MSS) Payments provides a one-stop digital payment service available across the Globe. MSS Payments aims at serving the consumers (Banked, Unbanked and Underbanked) with mobile banking facilities on the move from anywhere by transferring funds in their mobile phone.
PesaChoice - PesaChoice is a leader in international bill payment services for the African diaspora. PesaChoice aims at making international bill payment process easy, seamless, secure, with reasonable and competitive service fees, and up to date technological advances.
SendX - Singapore based SendX, in partnership with Stellar, is the better way to move money worldwide. The SendX team believes that the future of transactions is decentralized and distributed, bringing true equity to everyone across the value chain.
VoguePay - VoguePay, with offices in the United Kingdom and Nigeria, is partnering with Stellar to become the cheapest and most efficient way to send money between the United Kingdom and Nigeria. In the coming months, they expect to expand this service to other selected African countries.
HashCash - Hashcash consultants build financial solutions for banks and financial institutions over blockchain. We leverage the Stellar platform to build products that vastly improve the remittance and payments experience for banks and their customers. Transfers happen lightning fast at a fraction of current rates and operational cost is significantly reduced. HashCash is headquartered in India, with operations across South Asia and the Gulf.
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Stellar Lumens vs Other Cryptocurrencies
Lumens vs. Bitcoin: Jed McCaleb spoke at Distributed Markets in 2017 about the advantages, but more importantly, the disadvantages of Bitcoin. Listen to the talk here. Jed said, “Bitcoin is this awesome innovation. The first thing it does is converts a real world resource, electricity, into a digital asset. So it takes something from the real world and puts it into the digital realm. The second thing it does is provides immutable public record. It’s basically a database that everyone can see but no one change arbitrarily… That’s great, Bitcoin solves the double spin problem [ of proving possession and transmitting volume]… [However, to fix the problems of bitcoin] you might think well maybe we’ll just kind of keep adding [software] to Bitcoin until we get there, but that’s not really the way software works. You want to have the design from the beginning and solve these simple issues. Bitcoin was designed to be a new currency, it wasn’t really designed to be this unifying universal payment network. So that’s what Stellar does. It solves these three remaining issues.”
Lumens vs. Bitcoin #2: According to wired.com, "Bitcoin mining guzzles energy - and it's carbon footprint just keeps growing." Wired says "Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the US for one day... The total energy use of this web of hardware is huge—an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year." Because Stellar is based on a consensus algorithm rather than mining, it takes much less energy to run the Stellar network. The Poseidon Foundation decided to build their platform on Stellar rather than Ethereum or Bitcoin because of this (twitter source).
Lumens ICO tokens vs. Ethereum ICO tokens: According to Stellar.org, "traditionally, ICO tokens have been issued on the Ethereum network in the form of ERC20 tokens. ERC20 tokens are easy to issue and are infinitely customizable using Ethereum’s smart contracting language. However, recent events have highlighted and exacerbated some weaknesses of the network, including slow transaction processing times for the network during ICOs and increasingly expensive gas prices (by fiat standards) for transactions and smart contract execution. Moreover, many organizations require only basic tokens; they adopt the risk of Ethereum’s Turing complete programming language without taking advantage of many of its benefits."
"While Ethereum has the most expressive programming capabilities, we believe Stellar is the best choice for ICOs that do not require complex smart contracts. Stellar’s primary goal is to facilitate issuing and trading tokens, especially those tied to legal commitments by known organizations, such as claims on real-world assets or fiat currency."
Stellar vs. Ethereum #2: The median transaction time on Stellar is 5 seconds, compared to approximately 3.5 minutes on Ethereum (source). Stellar has a negligible transaction fee (.00001 XLM ~= $0.0000002) with no gas fee for computation, while depending on the complexity of the computation, the median cost for a transfer on the Ethereum network is $0.094. Security: While both Stellar and Ethereum run on a decentralized network, the Stellar network has fewer security pitfalls. Stellar uses atomic transactions comprised of simple, declarative operations while Ethereum uses turing complete programming capabilities which produces less auditable code and greater risk of exploitable vulnerabilities (source). Recently, a security flaw in the Ethereum network froze millions of dollars. According to Mobius ariticle written by David Gobaud, "On November 6, 2017, Github user deveps199 'accidentally' triggered a bug in Parity, a popular Ethereum mult-sig wallet, that froze more than $152 million in Ether across 151 addresses. The bug impacted several token sales including Polkadot, which has had ~$98 million out of its recent $145 million sale frozen."
"Mobius had none of its ongoing pre-sale Ether frozen because we do not trust Ethereum’s Smart Contract based multi-sig wallets given the vast Turing complete attack surface and did not use one. Security broadly is one of the main reasons the MOBI token that powers the DApp Store is a Stellar Protocol token and not an Ethereum token."
Lumens vs. Ripple: According to Wall Street Bitcoin Exchange, "Many investors like to compare the company [Stellar] to Ripple, and there are a lot of similarities, being that some of the founders worked on the Ripple team. In what can now be looked at as another blockchain development drama that plays out on chat boards and in interviews all across the globe. Stellar declared they fixed Ripple’s problems with their hard fork, however, Ripple has failed to admit to any of the flaws in its design that the Stellar team has pointed out." The article concludes by saying, "We Choose XLM Over XRP For 2018. That is why we are going with Stellar Lumens over Ripple in our portfolio for the rest of 2017 and 2018. After holding Ripple for a long time this year, it just never seems to make the big break like other names with bigger market caps like Bitcoin Cash, Dash, and Litecoin have. While we are holding on most all our larger market caps, we feel that Stellar Lumens will be one of the break out coins for 2018."
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Conclusion
The stellar.org team is doing an amazing job making partnerships and pioneering the use of blockchain technology for various types of transactions. What we are seeing is a new technology that can actually be used to solve real-world problems. As a community, we need to continue supporting Stellar and we will quickly see it power transactions across the world. What are your thoughts about Stellar? What do you see in the future of Stellar? Any important news you want to share? Comment below.
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Daily analysis of cryptocurrencies 20191029 (Market index 54 — Neutral state)

Daily analysis of cryptocurrencies 20191029 (Market index 54 — Neutral state)

https://preview.redd.it/r3aaq5ax6hv31.jpg?width=1200&format=pjpg&auto=webp&s=f5e5883e494c21495c87af11735808e5b3451c45

Tencent To Formulate Blockchain Invoice Standards On behalf of China, Tencent, the China Academy of Information and Communications Technology (CAICT), and Administration of State Taxation in Shenzhen jointly put forward the project approval of “General Framework of DLT based invoices,” which has won the support of member countries to successfully pass the new standards. The project was approved, marking the official start of the blockchain invoice drafting. Next, Tencent, CAICT, and Administration of State Taxation in Shenzhen will jointly represent China to lead to formulate the standards of blockchain invoice, including draft discussion and revision.
Digital Wallet Of ICBC Is In Closed Beta Citing the local news in China, the digital wallet of Industrial and Commercial Bank of China (ICBC), a Chinese multinational banking company, is being tested internally. The wallet is divided into four categories from the perspective of the real-name system. According to the source, the above-mentioned wallet is the carrier of legal digital currency as well as a payment instrument relying on the circulation system of legal digital currency.
Argentina’s Central Bank Strengthened Capital Control On Sunday (October 27), the Central Bank of the Republic of Argentina introduced new rules of capital control which allow us to suggest that the government believes in Bitcoin and prefers cryptos to fiat money. Argentina’s central bank has rapidly cut down the amount of US dollars citizens can purchase. Previously, savers could purchase no more than $10,000 per month. Now, this amount is reduced to $200 only. This limitation decreases the US dollar purchasing power by 98%.
Korean Government to Back Blockchain Startups With $9 Million Fund in 2020 The Korea Internet Security Agency (KISA) will be supporting blockchain-related projects in 2020 with 10.5 billion won, about $9.0 million, in funding, but has ruled out supporting of crypto projects or crypto exchanges.

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st. ICON (ICX): 29 October 2019 Decentralization “As a result, the decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019.” Ark (ARK): and 10 others 29 October 2019 WCC 2019 Second annual Blockchain and Cryptocurrency Technology event, World Crypto Conference (WCC), October 29th — October 31, 2019. Insifa (ISF): 29 October 2019 Prototype Alpha “We from Insifa have decided to be more open. Our Prototype will be developed in scrum. This means new releases every two weeks.” Enjin Coin (ENJ): 29 October 2019 EnjinCraft Stress Test “Join us Oct. 29 at 7:00pm GMT for a stress test. Let’s try to break #EnjinCraft!” IOTA (MIOTA): 29 October 2019 IOTSWC Barcelona IOT Solutions World Congress Digitalizing Industries conference in Barcelona from October 29–31.

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.” TRON (TRX): 30 October 2019 SFBW19 Afterparty “TRON Official SFBW19 Afterparty from 7–10:30 PM in San Francisco.” Horizen (ZEN): 30 October 2019 Horizen Quarterly Update Join our first Quarterly Update on October the 30th at 5 PM UTC/ 1 PM EST. Deeper look into Engineering, BD, Marketing, and more. Aeternity (AE): 30 October 2019 Hardfork “The third hardfork of the æternity Mainnet is scheduled for October 30, 2019.” Valor Token (VALOR): 30 October 2019 Transaction Fees Resume “It’s September and the SMART VALOR Platform is still waiving transaction fees for all members, until October 30th!” Aragon (ANT): 30 October 2019 Singapore Meetup “Aragon on DAOs and DeFi” from 6:30–8:30 PM. Kambria (KAT): 30 October 2019 Outliers Hashed Awards Outliers Hashed awards from October 30–31. Ethereum Classic (ETC): 30 October 2019 Cohort Demo Day “ETC Labs hosts it’s 2nd Cohort Demo Day. Learn about the companies and project being accelerated through the Ethereum Classic ecosystem.”

Encrypted project calendar(October 31, 2019)

Spendcoin (SPND): 31 October 2019 (or earlier) Cross Ledger Mainnet “Cross Ledger Mainnet Release and SPND Token Swap,” during October 2019. Spendcoin (SPND): 31 October 2019 (or earlier) Blkchn University Beta “Blockchain University Beta goes live,” during October 2019. Stellar (XLM): 31 October 2019 (or earlier) Minor Release “We will have 6 Minor Releases in 2019; one each in February, March, May, June, August, and October.” Bitcoin SV (BSV): 31 October 2019 (or earlier) BSV Conference Seoul No additional information. Seele (SEELE): 31 October 2019 (or earlier) Public Network Mainne launch has been moved to Oct 31 . Howdoo (UDOO): 31 October 2019 (or earlier) Howdoo Live on Huawei Howdoo begins its exciting partnership with Huawei with listing as a featured app starting in October. Chiliz (CHZ): 31 October 2019 (or earlier) App Soft Launch Soft launch of Socios App by end of October. Dent (DENT): 31 October 2019 (or earlier) Loyalty Program “Afterburner loyalty program launch for all 21,6 Million mobile #DENT users will be in October!” IceChain (ICHX): 31 October 2019 (or earlier) Wallet Release IceChain releases wallet during October. Chiliz (CHZ): 31 October 2019 (or earlier) New Partnerships New sports and new teams joining Socios (+more updates and events) will be announced in the upcoming weeks. Horizen (ZEN): 31 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. PCHAIN (PI): 31 October 2019 (or earlier) New Website No additional information. IOST (IOST): 31 October 2019 (or earlier) New Game on IOST “Eternal Fafnir, a new role-playing game developed by INFUN is coming to you in Oct.” Achain (ACT): 31 October 2019 Mainnet 2.0 Launch “… The main network is officially scheduled to launch on October 31.” Mithril (MITH):31 October 2019 Burn “MITH burn will take place on 2019/10/31 2pm UTC+8. “ Aergo (AERGO): 31 October 2019 (or earlier) Aergo Lite V1.0 Release AergoLite, which brings blockchain compatibility to billions of devices using SQLite, released during October 2019. TE-FOOD (TFD): 31 October 2019 (or earlier) Complementary Product “Development of a new, complementary product with a new partner, which we hope to be launched in September-October.” Edge (DADI): 31 October 2019 (or earlier) Full Open Source Code base for the network fully open-sourced in September or October. BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. Perlin (PERL): 31 October 2019 (or earlier) SSA Partnership “Perlin has partnered with the Singapore Shipping Association to create the International E-Registry of Ships (IERS)” Skrumble Network (SKM): 31 October 2019 (or earlier) Exchange Release “3rd dApp: Exchange Release,” during October 2019. EDC Blockchain (EDC): 31 October 2019 (or earlier) Blockchain Marketplace “As you already know, our ECRO blockchain marketplace is ready for release, and will open to the global community in October!” BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. XinFin Network (XDCE): 31 October 2019 Homebloc Webinar “XinFin — Homebloc Webinar 2019” from 9–10 PM. Akropolis (AKRO): 31 October 2019 (or earlier) Alpha Release “Delivers the initial mainnet implementation of protocol. All building blocks will be united to one product.” Hyperion (HYN): 31 October 2019 (or earlier) Economic Model The final version of the HYN Economic Model launches in October.

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019. VeChain (VET):”01 November 2019 BUIDLer Reunion Party BUIDLer Reunion Party in San Francisco from 8–11 PM. uPlexa (UPX): 01 November 2019 Steadfast Storm — PoS/PoW split (Utility nodes ie. master nodes) — Upcoming Anonymity Network much like TOR — Privacy-based DApps — Reduced network fees. Enjin Coin (ENJ): 01 November 2019 MFT Binding “ICYMI: On Enjin Coin’s 2nd anniversary (November 1), Enjin MFTs will be bound to hodlers’ blockchain addresses…” Auxilium (AUX):01 November 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity. Havy (HAVY):01 November 2019 Token Buyback “Havy tokens buyback, Only in 1 exchange between Idex, Mercatox & Hotbit. The exchange depends on the most lower sell wall.” Egretia (EGT): 01 November 2019 Global DApp Contest SF 2019 Egretia Global DApp Contest in San Francisco. EthereumX (ETX): 01 November 2019 Snapshot for ETX Holders “Next snapshot of ETX balances will be taken on 1st November 2019.” Veros (VRS): 01 November 2019 Transcoin Partnership “On November 1, Transcoin instant swap tool will be integrated into @VEROSFP platform.”

Encrypted project calendar(November 2, 2019)

Kambria (KAT): 02 November 2019 VietAI Summit 2019 Kambria joins forces with VietAI for the annual VietAI Summit, with top experts from Google Brain, NVIDIA, Kambria, VietAI, and more!

Encrypted project calendar(November 4, 2019)

Stellar (XLM): 04 November 2019 Stellar Meridian Conf. Stellar Meridian conference from Nov 4–5 in Mexico City. Cappasity (CAPP): 04 November 2019 Lisbon Web Summit Lisbon Web Summit in Lisbon, Portugal from November 4–7.

Encrypted project calendar(November 5, 2019)

Nexus (NXS): 05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.” NEM (XEM): 05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019. TomoChain (TOMO): 05 November 2019 TomoX Testnet “Mark your calendar as TomoX testnet will be live on Tuesday, Nov 5th!” aelf (ELF): 05 November 2019 Bug Bounty Program Ends On Oct 24th, 2019 aelf’s biggest bug bounty will launch with a large reward pool. The event will run for almost 2 weeks.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th. KIM/Kimcoin: Kimcoin (KIM) Bitfinex will be online at KIM on November 6, 2019 at 12:00 (UTC).

Encrypted project calendar(November 7, 2019)

XRP (XRP): 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore. BTC/Bitcoin: Malta The A.I. and Blockchain summit will be held in Malta from November 7th to 8th.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th. IOTX/IoTeX: IoTex (IOTX) will participate in the CES Expo on November 08

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland. HTMLCOIN (HTML): 09 November 2019 (or earlier) Mandatory Wallet Update Mandatory Wallet Update: there will be a soft fork on our blockchain. This update adds header signature verification on block 997,655.

Encrypted project calendar(November 11, 2019)

PAX/Paxos Standard: Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference. Crypto.com Coin (CRO): and 3 others 11 November 2019 Capital Warm-up Party Capital Warm-up Party in Singapore. GoldCoin (GLC): 11 November 2019 Reverse Bitcoin Hardfork The GoldCoin (GLC) Team will be “Reverse Hard Forking” the Bitcoin (BTC) Blockchain…”

Encrypted project calendar(November 12, 2019)

BTC/Bitcoin: The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13th Binance Coin (BNB) and 7 others: 12 November 2019 CMC Global Conference “The first-ever CoinMarketCap large-scale event: A one-of-a-kind blockchain / crypto experience like you’ve never experienced before.” Aion (AION) and 17 others: 12 November 2019 The Capital The Capital conference from November 12–13 in Singapore.

Encrypted project calendar(November 13, 2019)

Fetch.ai (FET): 13 November 2019 Cambridge Meetup “Join us for a @Fetch_ai #Cambridge #meetup on 13 November @pantonarms1.” Binance Coin (BNB) and 5 others: 13 November 2019 Blockchain Expo N.A. “It will bring together key industries from across the globe for two days of top-level content and discussion across 5 co-located events…” OKB (OKB): 13 November 2019 Dnipro, Ukraine- Talks Join us in Dnipro as we journey through Ukraine for our OKEx Cryptour on 11 Nov. Centrality (CENNZ): 13 November 2019 AMA Meetup “Ask our CEO @aaronmcdnz anything in person! Join the AMA meetup on 13 November in Singapore.” OKB (OKB): 13 November 2019 OKEx Cryptotour Dnipro “OKEx Cryptour Ukraine 2019 — Dnipro” in Dnipro from 6–9 PM (EET).

Encrypted project calendar(November 14, 2019)

BTC/Bitcoin: The 2019 BlockShow Asia Summit will be held at Marina Bay Sands, Singapore from November 14th to 15th. Binance Coin (BNB): and 4 others 14 November 2019 BlockShow Asia 2019 BlockShow Asia 2019 at Marina Bay Sands Expo, Singapore from November 14–15. Basic Attention Token (BAT): 14 November 2019 London Privacy Meetup “If you’re in London on Nov. 14th, don’t miss our privacy meetup! The Brave research team, our CPO @johnnyryan, as well as @UoE_EFI Horizen (ZEN): 14 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(November 15, 2019)

TRON (TRX): 15 November 2019 Cross-chain Project “The #TRON cross-chain project will be available on Nov. 15th” Bluzelle (BLZ): 15 November 2019 (or earlier) CURIE Release CURIE release expected by early November 2019. Zebi (ZCO): 15 November 2019 ZEBI Token Swap Ends “… We will give 90 days to all the ERC 20 token holders to swap out their tokens into Zebi coins.” OKB (OKB): 15 November 2019 OKEx Talks — Vilnius “Join us for a meetup on 15 Nov (Fri) for our 1st ever Talks in Vilnius, Lithuania.”

Encrypted project calendar(November 16, 2019)

Bancor (BNT): and 2 others 16 November 2019 Crypto DeFiance-Singapore “Crypto DeFiance is a new global DeFi event embracing established innovators, financial market disruptors, DApp developers…”

Encrypted project calendar(November 17, 2019)

OKB (OKB): 17 November 2019 OKEx Talks — Lagos Join us on 17 Nov for another OKEx Talks, discussing the “Life of a Crypto Trader”.

Encrypted project calendar(November 19, 2019)

Lisk (LSK): 19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”

Encrypted project calendar(November 20, 2019)

OKB (OKB): 20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!”

Encrypted project calendar(November 21, 2019)

Cardano (ADA): and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…” Cappasity (CAPP): 21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.” Horizen (ZEN): 21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. OKB (OKB): 21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.” IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech. OKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “

Recently, bitcoin price climbed towards the $10,000 resistance area against the US Dollar. However, BTC failed to continue higher and formed a high near the $9,935 level.
Later, there was a fresh decline below the $9,600 and $9,500 support levels. The price traded close to the $9,100 support area and remained well bid above the 100 hourly simple moving average. The recent low was near $9,194 and the price is currently climbing steadily.
There was a break above the 23.6% Fib retracement level of the recent decline from the $9,935 high to $9,194 swing low. At the outset, bitcoin is testing the $9,500 and $9,550 resistance levels. Additionally, there is a connecting bearish trend line forming with resistance near $9,560 on the hourly chart of the BTC/USD pair.
More importantly, the 50% Fib retracement level of the recent decline from the $9,935 high to $9,194 swing low is acting as a hurdle for the bulls. Therefore, an upside break above the $9,550 and $9,600 levels is needed for a fresh increase.
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Daily analysis of cryptocurrencies 20190923(Market index 41 — Fear state)

Daily analysis of cryptocurrencies 20190923(Market index 41 — Fear state)


Crypto Exchange Giant Binance To Launch US Trading On Sept 24 Binance.US, the American arm of cryptocurrency exchange giant Binance, has announced it will start trading fiat-crypto and crypto-crypto trading pairs on Sept 24.The trading platform will list seven cryptocurrencies immediately upon the launch, including Bitcoin, Binance Coin (BNB), Ethereum, XRP, Bitcoin Cash, Litecoin and Tether’s USDT.Binance.US also revealed it will soon open deposits for another five assets: Cardano (ADA), Basic Attention Token (BAT), Ethereum Classic (ETC), Stellar’s XLM and 0x.
UBS, Credit Suisse Interest On Crypto Industry ‘Clearly Picked Up’ Peter Wuffli, the former CEO of major Swiss multinational investment bank UBS, says the advent of new, regulated actors in crypto is drawing the attention of big-name banks. When it comes to the traditional financial sector’s response to the emergent crypto asset space and industry developments, he said of large banks such as UBS and Credit Suisse: “From what we hear, interest has clearly picked up since the licenses were granted. Bank executives are asking their middle management to figure out whether this is just another fintech fad that comes and goes, or whether it is really transformational.” He added: “They are wondering strategically whether they need to commit to this, and what it would mean in terms of changes to systems but also mindset.”
Int’l Accounting Standards Body Defines Bitcoin As ‘Intangible Asset’ The International Financial Reporting Interpretations Committee (IFRIC) has ruled that cryptocurrencies, including Bitcoin (BTC), are neither financial assets nor legal tender. The Korea Times reported the development on Sept 23, citing the Korea Accounting Institute’s briefing in regard to an IFRIC meeting held in London this June.
Bitmain Will Release New Generation Of Antminer On October 9 Bitmain will release a new generation of Antminer at World Digital Mining Summit in Frankfurt, Germany on October 9. Officials revealed that the new batch of the Antminer accepted on-site orders.

Encrypted project calendar(September 23, 2019)

BTC/Bitcoin: Bakkt, the digital asset platform led by ICE, the parent company of the New York Stock Exchange and the world’s second largest trading group, will launch a bitcoin physical delivery futures contract on September 23. EOS/EOS: EOS main network is expected to upgrade version 1.8 on September 23 DCDecred: Project leader Jake Yocom-Piatt of Decred (DCR) Decrex will attend the Encryption Community Party in San Francisco on September 23 and will deliver a speech.

Encrypted project calendar(September 24, 2019)

ENG/Enigma: Enigma (ENG) ENG main network token snapshot will end on September 24, the original start time is August 26. LINA (LINA): Lina Review will host the Lina network launch event in Ho Chi Minh City, Vietnam on September 24th and release a 10-year operational strategy. Cappasity (CAPP): Cappasity will showcase its digital signage solutions in luxury stores at the Paris Retail Week from September 24th to 26th.

Encrypted project calendar(September 25, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on September 25th at the University of Southern California in Los Angeles on the theme of “Building Your Own IoT.” Quant (QNT): The Quant project will participate in a marketing conference in London from September 25th to 26th, which will focus on data technology.

Encrypted project calendar(September 26, 2019)

ADA/Cardano: The Cardano (ADA) Cardano community will host a party in Washington, DC on September 26.

Encrypted project calendar(September 27, 2019)

BTC/Bitcoin: Cripto Latin Fest will be held in Cordoba, Argentina from September 27th to 29th. Switcheo (SWTH): After a one-year token exchange process, the project team will officially end the SWH→SWTH token exchange process on September 27.

Encrypted project calendar(September 28, 2019)

ADA/Cardano: Cardano (ADA) Cardano (ADA) 2nd Anniversary, Cardinal Foundation, IOHK and EMURGO main members will participate in community celebrations in Plovdiv, Bulgaria on September 28. TOP Network (TOP): The TOP Network team will hold a hackathon in Prague, Czech Republic from September 28th to 29th. Horizen (ZEN): Horizen project BD Rep Vano Narimandize will discuss the current status and development of sidechain technology at the Industry 4.0 Blockchain Summit on September 28.

Encrypted project calendar(September 29, 2019)

GAME/GameCredits: GameCredits (GAME) is expected to perform hard forks on September 29th at block height 2519999

Encrypted project calendar(September 30, 2019)

INS/Insolar: Insolar (INS) will be on September 30th ERD/Elrond: Elrond (ERD) will conduct main network test on September 30th NULS/NULS: The NULS team will plan to beta the ChainBOX in the third quarter. CS/Credits: Credits (CS) will exchange tokens and bug rewards in the third quarter QTUM/Qtum: Quantum Chain (QTUM) is expected to complete lightning network beta in the third quarter XEM/NEM: New World Bank (XEM) will release mobile wallet and computer wallet in the third quarter HC/HyperCash: hypercash (HC) will complete community management agreement in the third quarter

Encrypted project calendar(October 01, 2019)

HT/Huobi Token: The financial base public link jointly created by Firecoin and Nervos is expected to be open source in October. RVN/Ravencoin: Ravencoin (RVN) Ravencoin will perform a hard fork on October 1. ADA/Cardano: Cardano (ADA) plans to hold technical consensus meeting in Amsterdam on October 1st XRC/Bitcoin Rhodium: Bitcoin Rhodium (XRC) will record account balance awards on October 1st PPC/Peercoin: Peercoin (PPC) will perform Peercoin v0.8 (code tang lang) hard fork on October 1st

Encrypted project calendar(October 02, 2019)

BNB/Binance Coin: The 2019 DELTA Summit will be held in Malta from October 2nd to 4th. The DELTA Summit is Malta’s official blockchain and digital innovation campaign. CAPP/Cappasity: The Cappasity (CAPP) London Science and Technology Festival will be held from October 2nd to 3rd, when the Cappasity project will be attended by the Science and Technology Festival.

Encrypted project calendar(October 03, 2019)

ETC/Ethereum Classic: The 2019 Ether Classic (ETC) Summit will be held in Vancouver on October 3–4

Encrypted project calendar(October 05, 2019)

Ontology (ONT): Ony Ji will attend the blockchain event in Japan on October 5th and explain the practical application based on the ontology network.

Encrypted project calendar(October 06, 2019)

SPND/ Spendcoin: Spendcoin (SPND) will be online on October 6th

Encrypted project calendar(October 07, 2019)

GNO/Gnosis: Gnosis (GNO) will discuss the topic “Decentralized Trading Agreement Based on Ethereum” will be held in Osaka, Japan on October 7th. Kyber and Uniswap, Gnosis and Loopring will attend and give speeches.

Encrypted project calendar(October 08, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Yesterday to this day, the BTC has been shaking slightly and is still hovering around $10,000. In the past 24 hours, the net inflows of BTC funds approached 30 million US dollars. Compared with the previous cycle, the market inflows increased rapidly. Yesterday, BTC failed to break the $10,000 threshold, but the daily average turned downward. In the short term, the market is still short-term dominant. In the medium-term trend, we still tend to be bullish, but before BTC is completely out of the triangle, we should be alert to the risk of repeated dishwashing by the main force. The upper resistance is $10,400, while the lower support is around $9,600. Operational aspects, continue to attract funds on the low side, fall below the $9400 recommended stop loss exit.
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Scam Projects

Hello!
My name is Kristina Semenova, I am the Head of Investors Relation Department at Platinum, the world’s number one business facilitator.
Our team knows how to start ICO/STO in 2019!
Why are we so sure? Well, our experience speaks for itself:
Platinum.fund
But what is the difference between ico and sto? What is the cornerstone of ICO marketing strategy? You will know this after finishing the UBAI courses!
Here’s just a quick preview of our Short Course lesson.
Real World Examples
Multinational accounting firm Ernst and Young found that $400 million of the $3.7 billion USD raised from ICOs (as of January 22, 2018) had been stolen. That is, up to 10% of all ICO funding is virtually being stolen from investors. Though ICO scams are the most common method of theft in the crypto world, some projects will actually operate for a period of time before disappearing with the money. Like in a Ponzi scheme, an exit scam may be planned for later, sometime after a manipulated pump; or some other time the team believes is most opportune to take the money and run. Giza: Giza marketed itself as a platform within which different cryptocurrencies could be stored securely. But after raising $2.4 million in one month, the team deleted the website and stopped replying to emails. Investors were duped by a very convincing whitepaper, and actors had been hired to appear in photographs promoting the project. No investor funds have ever been recovered. Centra: The SEC put an end to fundraising for the Centra ICO and charged the founders Robert Farkas and Sohrab Sharma with orchestrating a fraudulent ICO after they raised $32 million USD. They were promoting the ability to develop financial products backed by VISA and Mastercard, though it was later found that neither partnership was real. One of the major red flags in the Centra project was the use of celebrity endorsements for publicity, reportedly paying champion boxer Floyd Mayweather a significant sum to promote their project. Who wants to leave their Blockchain investment decisions up to Floyd Mayweather, regardless of his unbelievable skill as a boxer and regardless of his own financial success? He should still not influence where you invest your money!
Ponzi Schemes: Bitconnect: This is the most infamous Ponzi scheme in the history of cryptocurrency, and certainly the most damaging. Bitconnect was a Bitcoin-based project that rose to an all-time high of $463 per token on the back of a fictitious trading bot. The Bitconnect scam operated by paying dividends to users, proportional to the number of tokens they held and the number of referrals they made. The BCC tokens were exchanged for the users’ Bitcoin, and the highly sophisticated and wildly successful trading bot would trade BTC for them and distribute profits as dividends. The value of the dividends offered was approximately 1% of the initial investment per day. In other words, that is approximately 3,780% per year in cumulative gain! The referral system was capitalized upon most heavily by many of the biggest crypto YouTube channels, including CryptoNick and Trevon James, both of whom are now under investigation by the Federal Bureau of Investigation. Shortly after the Bitconnect Token reached its all-time high, they received cease and desist orders from the security regulators of Texas and North Carolina, which caused the owners of the Bitconnect exchange to shut down operations, and the price to plummet.
Davorcoin: Davorcoin was a lending platform very similar to Bitconnect. And Davorcoin was farcically promoted by the same Trevon James crypto Youtuber who promoted Bitconnect, and is currently under investigation by the FBI for promoting Ponzi schemes. The Texas State Securities Board, in likening Davor to Bitconnect, stated that “DavorCoin is telling investors they can earn lucrative profits by investing in a lending program based on a new cryptocurrency known as davorcoin. Investors allegedly purchase davorcoin and then lend it to DavorCoin”. Davorcoin promptly plunged from an all-time high of $180 to very close to zero after a cease and desist order was made against them on the 2nd of February 2018. Useless Ethereum Token: Despite brazenly stating in the name of the project that the token has no use, the UET managed to raise $340,000 in its crowdsale, and saw a significant pump of over 300% on the HitBTC exchange in February of 2018. The scam was an obvious case of pump and dump, with the total trading volume for UET crashing back down to as low as $3 per day, after reaching as high as $350,000 per day during the pump.
It is currently an unfortunate consequence of the decentralized nature of cryptocurrency, but there is a distinct lack of recourse for scammed investors. It is wise to become as well-acquainted with the various indicators of good and bad ICOs as you possibly can. In weighing the factors that will allow you to avoid expensive mistakes, ask yourself in whose favor are the terms of the ICO slanted, yours or the teams? To what extent are you actually likely to profit from this investment? Cryptocurrency is inherently a grey area, whether you are investing in it or not. Investing is another inherently grey area, no matter what the area or object of investing might be. Laws and regulations are not always able to keep up. Trying to define and prove what was or was not a scam is not likely to be as simple as the scammed investor would want it to be. A project can be set up in certain ways to avoid being technically classified or provable as a scam, but the unprepared investor can still be burnt or scammed just as badly. Now we look at more individual indicators that can help you form a valid impression whether or not an ICO or even a fully-fledged exchange-listed coin is a scam or a bona fide investment opportunity.
Common Signposts
Contrasting Scam & Legitimate Projects
Presale Bonus/Token Release If the ICO allots massive bonuses to team members, you may leave yourself open to getting dumped on by presale investors if you buy when the project tokens are listed on an exchange. Likewise, if the project has a short lock-up period for developers and founders, you run the risk of them selling as soon as the token is listed on a major exchange. The token release schedule for the founders of a worthwhile project should show long-term team commitment to that project. The Jibrel Network team tokens will be locked up for 5 years before release, and they had no early investor bonus in the main sale. Both of these factors instilled confidence in the JNT ICO investors, and the tokens were sold out weeks before the ICO was due to end. No Presale lock up If Presale investor tokens are not locked up at all for any period after listing, that could easily be a set up for an exit scam after the initial listing. No presale lockup for early investor tokens is a crystal clear warning, the project may be fatally rigged toward those in the inner circle, with little commitment to the long term health or success of that project.
Unsolicited Offers or Unasked for Additions to Groups Characters running scam projects will often add you to Telegram groups out of the blue or send you unsolicited emails with information about their project. Telegram is the most widely used messaging app in the cryptocurrency community and you should familiarize yourself with it to keep yourself in the loop for specific projects in which you invest as well as all kinds of other relevant crypto info. You can adjust the settings on the Telegram app to disallow anonymous additions to cryptocurrency projects if you find yourself bombarded with offers by scammers. Reputable projects at the ICO stage will spread by word of mouth, or by eloquent and meaningful articles posted on their Medium page. A project with serious potential does not need to actively seek participants for their ICO like that. They will often be able to fill their ICO hard cap in a matter of hours, or even just minutes!
Anonymous Team
Alarm bells, again, immediately, if the project has minimal online presence. The individual team members could be mere fabrications. The entire project could be a farce by utterly inexperienced characters. What if the project leaders are simply unaware of the importance of a strong social media profile? That in itself would be too strange to ignore. Top-level projects will have team members with experience in crypto and the LinkedIn accounts for those members will be easily accessible right there on the project website. You should be able to easily see and evaluate each individual’s experience in their field and ascertain what they bring to the project team. Bitconnect’s anonymous team should have been the only deterrent prospective investors needed to discourage them from putting money into that doomed project. Ethhorse, a current project with anonymous founders and operators should be steered clear of at all costs for the same reasons.
Community Atmosphere
The subreddits or Telegram groups of scam projects will often feature moderators that do not allow any kind of criticism in the group chat. If, in the process of your due diligence, you encounter didactic admins that only wish to silence your questioning of certain aspects of the whitepaper or mechanism of the tokenomics
, you should be concerned. Similarly if you see a coherent critical reply attacked by many different users who refuse to engage the substance of the point being made, that may be a subreddit infested with bots. Projects that have nothing to hide will allow free debate in the chat. Ideally, they hope to develop a positive community that is itself an asset to the long-term success and overall strength of the project. Good projects do not need to automatically brand all criticism as Fear Uncertainty and Doubt (FUD).
Whitepaper
One common tactic of scammers is to produce a whitepaper that uses too many buzzwords, and deliberately obfuscates and overcomplicates the explanation of the problem and/or its solution. A good whitepaper clearly and concisely lays out the problem and answer, as well as provides compelling arguments why a Blockchain solution is preferable to the current solution. Another point of concern is a whitepaper that gives unrealistic time frames and goals. Bitconnect’s almost comically optimistic profit projections are a prime example of this, as are the 1,354% yearly gains promised by Plexcoin. Respectable projects will set out development timescales in terms of quarters or years, rather than offering immediate profit projections, which are simply a red flag.
Advisors/Connections in the Cryptoworld
The most prestigious projects will already have partnerships made before the ICO stage, and the worst ones, i.e. the scams, will not mention any such partnerships. Icon (ICX) for example was spawned from a South Korean project named The Loop, a collaboration between 3 Korean universities and the DAYLIFinancial Group. They boasted an advisory panel consisting of the legendary investor Don Tapscott, Jehan Chu and crowdfunding expert Jason Best. On top of a solid team of advisors, good projects will also be visible at major Blockchain events such as the Consensus, and the World Blockchain Forum, etc. Scam projects will be unable to inspire this same level in confidence. As an investor, you should sense a certain presence and expect a certain feeling of trust that should guide you in your investments. After all, it is actually a people-to-people thing you are doing.
Key Stress points upon the Timeline to Identify Scam Projects Post Whitepaper Release The period in the immediate aftermath of the release of the whitepaper can also be decisive in establishing the validity of a project. How a team copes with the roadmap that they have laid out for themselves is key. Valuable insight into the operational efficiency and commitment to the project can be gleaned from the quality of and amount of code committed to GitHub. If you have any experience in computer programming you can see how clean and orderly the code is, which gives insight into the skill of the developers, and in turn the quality of project leaders’ decision-making in hiring team members. Scam projects will have little or no code committed to GitHub, or at best it will be copied and pasted from other projects just to cover their tracks. Start of ICO Sometimes, a scam project, or other project in which you would be better off not investing, will change the terms of the ICO just before the ICO starts. The Key (TKY) ICO doubled the price of tokens on the day before the ICO was due to take place, because the price of NEO had risen so drastically. Currently, the TKY token price is still only half of its ICO price. Initial investors are faced with the prospect of a 50% loss on their investment.
Exchange Listing
Some particularly greedy scammers will create a scam project with the intent of selling tokens in the ICO for BTC and ETH, and then pumping and dumping their share of the tokens immediately after listing. The team of fraudsters behind Monero Gold used this method after the crowdfunding of their useless ERC-20 token. After listing on CoinExchange.io, the team dumped their tokens until the exchange finally ceased trading. Although it is not uncommon for ICO tokens to sold after listing (just like can happen with shares of stock after an IPO), if the price does not stabilize and massive sell walls are continually placed, a scam is likely taking place and the token is being dumped.
Fake Ethereum Twitter giveaway
You may have noticed Ethereum creator Vitalik Buterin’s twitter handle has been changed to Vitalik “Not giving away Eth” Buterin in recent months. This is because a group of devious scammers had created fake accounts with almost exact replicas of his profile (deviating by only one character). The fake accounts promised to deposit 1 whole ETH for every 0.1 ETH the potential sucker deposited into the wallet address provided by the scammer. These fake account “Ether giveaway” scam tweets were set up to be sent in just a matter of seconds after the real person tweeted, and usually always appear immediately after the tweet of the real public figure. Fake bot profiles then came into play, thanking the fake Vitalik, or fake Elon Musk, for holding up their end of the bargain and depositing the ETH as promised. One scammer, or group of scammers, managed to fill a wallet up with almost $20 thousand worth of ETH, which they transferred out, never to be seen or heard from again.
Effect of Scam Customers, Upon the Affected Parties
Of course, this is no fun for the targeted public figure either. They need to take steps to avoid being targeted again. This will mean changing their handle, their username, or making their accounts private. However, the injured party with whom we are most concerned is the unfortunate scammed social media user, who has no chance whatsoever of getting his or her funds back, ever. It is a harsh lesson to learn. But it is a fact of crypto reality. Nearly every one that trades crypto will at least be exposed to frauds or scams in one way or another. In this case, we think it is better to learn about scams by studying them, rather than learn from your own unfortunate and expensive experience. In the case of Mr. Buterin, these incidents were awful public relations for the Ethereum project. It had only been a few years since cryptocurrency as a whole was primarily associated with criminality and seedy transactions on the Darkweb. Any connection with unscrupulous behavior is best avoided at all costs. Negative associations could have been particularly damaging for Ethereum’s brand because the vast majority of ICO fraud is committed using the ERC-20 token as the template for the scam tokens.
Any and all the scamming or fraudulent behavior in the cryptocurrency ecosystem is bound to have a negative impact on the speed at which mainstream uptake finally takes place. Cryptocurrencies, as an emerging asset class, will be painted in the worst possible light. Crypto is aiming to, and is in fact in the process of, causing great disruption in traditional centralized finance and business. Mainstream media organizations are also part of that traditional centralized economy. Press coverage will be damning. Something is happening here, but Mr. Jones doesn’t know what it is.
Legal Recourse for Scams
We clearly understand, there is a possibility of being scammed. We know the scams are happening. The SEC has made some arrests and actually charged people for operating fraudulent ICOs. But it is a struggle to deal with the flood of ICOs coming from anywhere at any time. The SEC filed charges against two founders of a purported financial services startup for orchestrating a fraudulent ICO that raised more than $32million from thousands of investors. As you know from the ICOs we have covered so far, the lack of regulation allows for direct contact and dealing between the entrepreneurs, business owners and potential investors. While we believe this is a blessing according to the founding principles of Bitcoin and other alternate Cryptocurrencies, because it frees us from traditional roadblocks, middle-men, and all kinds of time-consuming procedures; it also leaves investors in a place where there is often little to no hope of ever recovering funds lost in fraudulent schemes.
Actions after a Successful ICO
Good post-ICO practice is characterized by stringent security, well thought-out legal strategy and clear communication. Many projects have paid the price in damage to their reputation for failing to adequately guard customer information, leaving themselves open to phishing attacks by fraudsters. Investors in the Enigma project had half a million dollars stolen from them; and a whopping $8.4 million was defrauded from investors in Veritaseum via phishing attacks. After a successful token distribution, the team’s main focus is initially on switching the enterprise from one primarily focused on fundraising, to superficially at least, a fully-fledged, functioning business. This involves removing most of the token sale-related content from their main webpage, sending newsletters to all successful ICO participants, and sending refunds to those who may have missed the deadline or the hardcap. Then, with the stressful and complicated fundraising stage finally concluded, a portion of the funds raised can be assigned to fuel the growth of the project community. This can involve hiring community managers, forum admins, and social media managers to outsource the job of keeping investors in the loop. The founders can focus on growth strategy and product development. The cultivation of a thriving and energetic community is extremely important. The community will give you free marketing for your product and your business. Community members who believe in the project, and are engaged by professional moderators, can give you very effective promotion to other prospective investors. Communication with community members is a great way to test ideas and gauge sentiment related to various aspects of your project.
The project leads must set aside adequate funds for lawyers. The project will need to address potential future or imminent problems with regulators, at the very least. The transition from fundraising project to full-fledged business can be incredibly challenging, and even more stressful than the ICO itself. The main thing to remember is that your pre-sale and ICO investors are not just silent investors waiting for a return. They are the early adopters of your solution, of your product; they are the community and promoters of your project; and they are the individuals with a vested interest in the financial success of your venture. The ICO environment is not as heavily regulated, so quarterly and/or semi-annual reporting is not required the way it is in the traditional world. That means your own style of effective communication about the progress and key developments on your project matters even more. In the ICO world, you communicate with your press releases, social media, and Medium posts. You also communicate by the very nature of your relations with your exchange, and relationships with your cornerstone investors. Effective communication and good business relationships can play a prominent role in the success or failure of your venture (by token liquidity and valuation).
If your investors start to lose interest, and stop trading your token on the exchange, liquidity will dry up and cause increasingly volatile price swings. You need to keep certain things in mind, and follow effective practices to maintain a happy and motivated community.
Social Media & Medium
In addition to your website, your social media & Medium blog most likely formed a significant part of your ICO preparations. Your purpose pivots after the ICO from one of promotion to one of communication. Consistent, informative and material Medium blogs, also Facebook and Twitter updates, ensure that investors remain engaged and well-informed of what the company is up to. Frequent activity in this space makes investors feel much more comfortable. You can foster a kind of organic community expansion that is consistently advertising your project to potential new members.
Cornerstone Investors & Exchanges
As we mentioned, your relationship with investors in the ICO world is different from that of the traditional silent IPO minority equity partners. Consistent, Transparent & Honest communication is incredibly important here. Even if an ICO is struggling to overcome a problem or whatever issues are occurring, honest communication from the team is key to business survival. You should think of and treat your exchange like a business partner too, a very important one at that. Exchanges provide liquidity for you and your investors. That liquidity is like the blood for your business. Many top exchanges demand nothing less than absolute honesty and integrity, it is imperative to maintain strong and comfortable relationships with exchanges. Everything we have said so far, also applies to your Telegram channel and forums too. These give you another great opportunity to build a thriving community. Team members and investors can enjoy lively debates in their Telegram channels. This can be constructive discussion, or critical commentary too. But it is always valuable as a direct link between the team and the community. It is always good to know how people are feeling and what they expect from you and your project. You are able to use your Telegram channel and forums to consistently adapt your marketing and communication strategy. Keep your investors as happy and comfortable as possible, and you will be more likely to attract new investors and allocations. Other forums around the internet operate more or less in the same manner as Telegram.
After a successful funding round with the hardcap reached and time to spare, legal counsel has been secured, and the community is flourishing, the team will prepare for their first listing by paying the exchange fee and waiting for the announcement by the exchange. Unless they are willing to pay exorbitant fees for an immediate listing on Binance for example, teams will usually settle for an initial listing on a second-tier exchange. The fee charged by an exchange depends on many different factors that we will cover in more detail in the next section.
ICO Company actions after a Successful ICO
Real World Case Study
The Basic Attention Token (BAT) project, when used in conjunction with the Brave Browser, allows users to pay micro-fees in BAT to their most-used sites. The idea was conceived by Brendan Eich, the inventor of Javascipt and former CEO of Mozilla Firefox. Investors absolutely pounced on it at ICO and the project raised an amazing $35million in under 30 seconds. The BAT/Brave project has delivered on time on nearly all of its targets, helped in no small part by having a working product, the Brave Browser, for over a year before the token launch. The project secured a listing on the premier exchange, Binance, in November 2017.
A project can suffer through a disappointing funding phase and, for example, fail to reach 75% of its hardcap. The team will be only partially funded. Though they may be able to initiate the project, the value proposition of the token has been compromised, potentially forever. The market has spoken. There is limited faith in the team’s ability to complete or carry out their project. Failure to reach a hardcap is a serious obstacle on the project road map. This will mean massive revisions to the timescales for development and listing. Such a project may have to be content listing on decentralized exchanges for a period of time and they will lose any post-ICO hype that could have helped the project price to “moon” early on. There is less money to be allocated. Each section of the business will be underfunded compared to the original plan. There can be delays in code development, exchange listing, marketing and community development as well.
Calling the Tezos ICO a disappointment might seem strange considering they raised over $232million. But this open-source, smart contracts fintech platform became a victim of its own success post-ICO by devolving into multiple class-action lawsuits between the founders and its foundation chairman. They suffered from a distinct lack of clearly defined roles and expectations on key positions. There was infighting at the boardroom level. This all caused an as yet unresolved delay in listing and development. This is also one example why a capped ICO can be more desirable for investors than an uncapped ICO. If the team have a set amount of capital to work with, an amount that isn’t absolutely ridiculous, like in the case of Tezos, perhaps the resultant greed and discord is less likely. Although it may not be so easy for speculative investors to make a profit from an uncapped ICO with such a massive initial market cap, it is a very impressive feat of fundraising nonetheless. Tezos’s post ICO market cap of $232million is already 64th of all projects, and would have to perform brilliantly on listing to maintain this position.
Company actions after a Failed ICO
Failed ICOs can mean either fundraising initiatives that have failed to reach the softcap and will therefore not be economically viable, or fraudulent projects whose sole intention was to steal from investors and do an exit scam. We’ve already covered scams and fraud projects in detail, but what happens when an ICO just fails to raise the requisite funds? Projects that are legitimate, with honest founders and developers, refund the ETH or BTC deposited by investors as quickly as possible if the softcap is not reached. The same process that is followed by ICOs that are oversubscribed is employed by those that have failed to raise enough capital. The process of returning funds back to the sender ideally should take a period of days, but more likely will take a few weeks. The Sappy Network, advised by Dan Tapscott, failed to come anywhere near to their funding goals. They are currently in the process of sending all investor funds back to the wallets from which they came. The statement from the founders read as a textbook example of how you should react to failure with the founder stating “In the spirit of transparency and honesty, we are sharing with the community that we did not reach the soft cap, and thus we will be honoring our terms and conditions and returning the Ethers to all contributors”
Exchange Listing
A bottleneck developed in the ICO market after the explosion of crypto prices in 2017. There was a massive increase of ICO teams on all stages along the pathway from start-up to fully listed crypto asset. Certainly, a huge part of the value proposition for both the token and the project depends on securing a listing on an exchange. It is precisely the liquidity of the token as a valuable asset on a free market exchange, that determines or even defines its value. The liquidity is what makes tokens attractive to investors, but that liquidity simply does not exist without a platform for the exchange. Unfortunately for new projects, the balance of power is heavily weighted in favor of large centralized exchanges that can pick and choose which tokens to list, and the timescale within which listing will occur. Each large exchange has its own list of pros and cons as well as its own specific procedure for coin/token listing. They also have their own particular ethos regarding the type of projects they prefer to list. ERC-20 tokens will be available for trade immediately on decentralized exchanges (IDEX Forkdelta) but those platforms are generally quite low volume, and certainly not a long term solution. Projects must often pay huge fees to be listed on the larger centralized exchanges. At first those fees will be prohibitive. The usual route is to initially list on a more reasonably priced smaller exchange like Kucoin or Gate.io.
Listing Process
Major centralized exchanges have the power to list anything they want, and they also each have a unique structure that projects must adhere to if they wish to be listed. Each potential new listing will undergo a rigorous examination by the exchange operators to test the feasibility for listing the token. An exchange will likely have forms available on its website that you can fill out to give them all the necessary initial information. If a particular project and token qualify for listing, the team will invariably be put under a NDA, Non-Disclosure Agreement, to avoid any insider trading or other regulatory problem
s. In the case of larger exchanges like Binance, there is a period within which owners of a newly listed coin or token can transfer them to the exchange in preparation for trading. This is a fantastic opportunity for traders to make use of the likely pump that occurs after a new token is listed on a large exchange. It is common to see up to 100% increases on the first day of trading, and a subsequent dump of up to 50% or more can follow. This allows traders holding the coin already, to sell for a good profit, and maybe buy back in at a much lower price too, if they think that is a good idea.
Exchange Fees
There are no definitive figures available to the public regarding fees that major exchanges charge new projects to list. Binance, Bitfinex, Kraken and Bittrex have all been quoted as saying that they do not charge any fee at all but this is almost definitely untrue. Knowledgeable industry insiders estimate between $500,000 and $1,000,000 USD for listing on a top-tier exchange. (There have been more rumors of 7 figure exchange listing fees since January 2018 too). This figure will vary greatly from project to project. Various factors can affect how an exchange determines the fee for a particular project. These are some of the most important ones: Market Maker Service Required Whether or not the client project requires liquidity services directly from the exchange, or can connect proprietary ones via API, will lead to a huge reduction in listing cost.
Type of Token (ERC-20 NEP-5 or DAG) Not all tokens are created equal in the listing process. ERC-20 tokens and BTC based tokens have code architecture that will almost certainly be preferred by the exchange. NEO based tokens (NEP-5) such as Ontology will be far most costly to integrate because separate new wallets have to be built to facilitate NEO transactions. The costs involved in integrating Direct Acyclic Graph projects such as Nano into the exchange structure are even worse. Expected Daily Volume Exchanges derive their profits largely from transaction fees and withdrawal fees. The trading volume a new token is likely to bring in will have a great influence on the computation of the exchange listing fee. Exchange Listing Procedures Evaluation Different exchanges have different rules for new listings. A new project must of course abide by specific rules for that exchange before they are allowed to list there. There are procedures that must generally be followed for the most noteworthy exchanges. You can get a good idea of the hurdles to be overcome before listing can take place.
Ongoing relationship with Exchanges
Exchanges, usually Huobi or Kucoin, will sometimes make it essential for newly listed tokens to engage in “trading competitions” after listing. Competitions can last between 2 weeks, or a month or more, aiming to increase the trading volume for that token, thereby increasing trading fees collected by the exchange, and giving the project extra publicity too. The whales may have made a nice profit already and be very happy about it; but the project token can still get stuck in a long period of stagnation and a loss of post-ICO hype. Once a coin or token has been successfully registered for trading on a particular exchange, the project must focus on maintaining regulatory compliance and paying things like annual maintenance fees too. Exchanges can investigate and delist coins or tokens to see if they have fallen below a certain standard set by the exchange. The exchange is concerned about such things as: an extended period with an extremely low volume; a team member connection to an exit scam; or other such immoral/illegal behavior.
Post ICO Company Evaluation
After a presumably successful ICO, the necessary funds have been obtained, and the real business, the real team challenge is now, to bring the project to life as a bona fide disruptive Blockchain endeavor! The core advantage of the ICO method of funding business startups is the lack of regulatory hurdles to navigate with regards to fundraising and fund allocation. The funds that have been raised have, in effect, been freely given to the project leads to do with what they will in a no-strings-attached transaction. Of course, there are still strings attached in that the team are tasked with making that money grow for the investors. But there is no regulatory oversight of the process. The regulatory freedom is a double edge sword. It gives a good team freedom to work however they want; and it also allows for unscrupulous thieves to use the ICO process to defraud investors of their ETH and BTC.
Advantages of being Post ICO From Investor Perspective
You should have little to fear in terms of fraud from a project in which you have invested, if you have done your due diligence correctly. You can expect the tokens to be distributed, and the exchange listing to take place as expected. And you know your project is totally legitimate. There are different ways to think about your ICO tokens after the crowd sale has concluded. If you are a speculative investor looking for a quick flip, you can gauge the correct moment and sell anytime you like, assuming the ICO has been well-received by the markets.
From Team Perspective
The post-ICO period is, from the point of view of the team, a period where stress and responsibility for the safety of investor funds is passed, in the form of ICO tokens, from the team to the investors themselves. This responsibility for tokens is replaced with the stress of building the actual company itself, and succeeding in the business as planned. A small portion of the responsibility for the project’s success is also passed on to the exchange that has listed the tokens. This is especially true if market makers have been employed by the team or the exchange to provide liquidity. After the ICO has concluded, all funds are released to the project team immediately, so they can start building their business brand, and tackling each step on the road map right away. The freedom with which startups can operate is one of the main reasons behind the explosion in Blockchain businesses in 2017. With the ICO funds safe, and money being put to work on various areas essential to the growth of the project, and the tokens already distributed to investors, the risk of fraud is greatly diminished. If KYC and Anti-money Laundering procedures have been followed correctly during the ICO phase, the risk of phishing attacks and theft will also be marginal now. At any rate, with tokens safely delivered to all participants, the responsibility has passed from the team to the investor.
From Team Perspective
The release of all funds and the freedom to allocate them with no supervision, as cited above, is certainly a tremendous advantage empowering the team to fulfil the entire breadth of their vision unimpeded. But it does have its drawbacks. If there is a mistake made in the allocation of funds, or an unforeseen problem arises, there is nowhere to turn to, and no means of generating further money via crowdfunding. The ICO is over; it is finished. The project simply has to work with what it has. Your community can sometimes turn against you when the market is going down. Times like that just add to the already intense pressure of presiding over a startup Blockchain business.
Solution: DAICO
The DAICO, or Decentralized Autonomous Organization Initial Coin Offering, is a means to integrate a more specific, rigorous and regimented smart contract schedule into the ICO process. Doing so will eliminate fraudulent ICOs, exit scams, pump and dumps, and many of the other disadvantages listed above. The DAICO method, proposed by Ethereum creator, Vitalik Buterin, will merge the core concepts of both an ICO and a DAO to leverage the most relevant features of both, in order to solve the main problems in the ICO method. For example, to eliminate the risk of an exit scam, the release of funds will be spread out over a period of time, with the next allotment only being released when a certain set of parameters are met.
Buterin explains that the DAICO method will provide user protection in a manner not present in the current ICO model, ensuring funds are not misspent or used in any way contrary to the intention of investors. In simpler terms the DAICO will operate as follows: The DAICO will start with a smart contract by its executors that can set whether this is to be a capped or uncapped round of fundraising (amongst many other options) as well as including KYC requirements. After these settings have been configured, the DAICO is set into “contribution mode” and presented to the public. This stage will function identically to a normal ICO with ETH exchanged for project tokens. Once the funding period has elapsed, or the hardcap has been met, investors will have the ability to set the “tap” for the collected funds. This will set the amount per second, or amount per minute, that will be available to the executor to develop that specific portion of the project to which those funds have been assigned. If investors believe at any point that the team is misspending funds or otherwise wasting time, etc., the investors have significant options to take. Of course they could choose to release more funds to the team. But, they could also stop the tap altogether, and stop the entire ICO, by voting, and actually release all unused funds back to their own wallets from which the investment had first been made!
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Cocos-BCX:The decentralized gaming application & crypto assets creation platform

Cocos-BCX:The decentralized gaming application & crypto assets creation platform

I. Project Overview

Cocos-BCX is a platform used for the development, operation, management and transfer of decentralized applications and in-application assets on the blockchain ecosystem. The platform mainly includes three function modules:
(1)The application development framework that supports multiple operating systems and various blockchain environments.
(2)Completely scripted, componentized and data-driven application development tools;
(3)An improved blockchain system, which is oriented to high performance applications and based on graphene technology framework, and its related functional components.
Cocos-BCX can allow developers to perform programming, debugging, and publishing of decentralized applications oriented to the blockchain environment, and hybrid architecture applications. Meanwhile, the platform integrates the distributed user account system, wallet and digital asset circulation platform based on the blockchain, which can realize the permanent saving and cross-chain use of in-application assets.

II. Project evaluation

(一) Market analysis

1. Market conditions | 8 points

The organizing pattern of productivity dominated by governments in some areas or industrial domains is apt to change in the context of bottlenecks existing for global scientific and technological progress, rising resource consumption, an aging population, and intensified geopolitical conflicts. In particular, in 2008, when Nakamot published his thesis "Bitcoin: A Peer-to-Peer Electronic Cash System", discussions on blockchain and digital currency have gradually extended from technological aspects to economic, social and political, and other fields. The general public have begun to pay close attention to the impact of blockchain on social development as well as the role of digital currency in the world economy. Based on the decentralized characteristics of the blockchain and the vibrant vitality of the digital economy, the general public has enough confidence to predict that the decentralized "digital assets" will be a sweeping trend in the future, and will derive new business models and social values.
At the same time, in the development process of decentralized applications of different types, the game industry enjoys unique development advantages, because the game's production mode is the most sophisticated, enjoys the highest degree in terms of commercialization, and is one of the scenarios with the most profound foundation in terms of developers and users.
u Analysis: The game field has a huge room for development, which is highly consistent with the characteristics of the blockchain, and accords with the future development tendency of the digital economy.
The digital asset economy model carried by the project through the blockchain technology will assetize the content produced by the developer, enable the developer to continue reaping benefits during the use, management and transfer of his assets, and provide him with a convenient, decentralized game distribution channel; meanwhile, it helps players to transform the data formed by time and energy as well as the props they obtain as a result of their consumption into the assets that can be safely stored and circulated, offering players the right to manage and commercialize them.

2. Competition | 8 points

Since the last century till now, owing to the sustained efforts and promotion by a variety of IT technology game enterprises, the national and even global online game market is developing by leaps and bounds. If there is no systematic risks, such as policy regulation, vicious incidents and other factors, there will be no smooth and endless development momentum unless something unexpected happens. However, an objective analysis reveals that the current online game market is still dominated by IT technology companies, and even in a controlled and monopolized development, which, of course, also brings substantial profits, such as Tencent, Blizzard Tech.
u Analysis: It can be predicted that the Cocos-BCX project will hardly have any direct competitors in the strict sense for the time being, but will encounter a marginal pressure competitive environment from two dimensions. In summary, the classical IT game companies at home and abroad are massive in size and have obvious capital advantages. However, the Cocos-BCX project has an advanced philosophy and cutting edge technology, and thereby enjoys first-mover advantages for a breakthrough; The blockchain game project of the same business is currently marked by wide participation and generic applicability. But in comparison, the Cocos-BCX game industry has such advantages as a salient background, special project orientation and sophisticated development in technical modules, and therefore has greater development potential.

(二) Token Status

1. Token situation | 6 points

(1) Basic situation of Token
Token name: COCOS
Total tokens in circulation: 100 billion
Consensus mechanism: DPOS
(2) Token usage and allocation
Part I 82%: Cocos-BCX is used for the platform community construction in various ways, including but not limited to the witness' block reward, incentives for platform ecological developers, global community construction, marketing and promotion, industry alliances, eco-investment, research, financial and legal compliance. The use of this part of Cocos-BCX includes swapping by means of the consensus work contributions, free gifts, gifts in exchange for service, and gifts in exchange for other tokens, etc.
Part II, 18%: Cocos-BCX is intended as incentives for the sponsoring team of the project. The incentive part will set up a locking mechanism, which will be issued and unlocked one-third at the end of each year after Token generation, and the issuance will be completed within three years.

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u Analysis: The use of Token is mainly divided into two parts, among which, 82% is used for project development and construction. The remaining 18%, which has a locked position mechanism, is intended for team incentive and construction. The use design is rather rational, but the team part is slightly higher. Given that the industry is in the initial stage of development, it is of great importance to seize the first opportunity and acquire early traffic users. It is suggested that the proportion of Token used by the team be reduced slightly, which is more conducive to the long-term development of the project. It should be noted that the original holding distribution of Token has not been queried via the official channel, while this link for the conventional blockchain project are basically disclosed. Meanwhile, from the standpoint of ordinary investors, Token’s original holding ratio is also one of the important parameters for its investment.

2. Ecological cycle | 8 points

(1)The Token (COCOS) positioning of the platform: circulation media and governance proof in eco-economic activities
COCOS not only serves as a value exchange carrier and community participation proof for Cocox-BCX, but its orientation as a basic pricing Token is likely to play a critical role in the digital asset ecosystem. With the continuous development of the industry, a large quantity of decentralized digital assets will exist in multiple blockchain ecosystems according to different standards in the future, and the value existing in asset pricing media transcending the chain ecology will be infinitely magnified.
, which is specifically manifested in that developers and users can evaluate, compare, trade and manage digital assets of different chain ecosystems, worldview content, and technical standards based on COCOS. Meanwhile, as a primary and basic pricing medium, COCOS is positioned to become the necessary conditions for the blockchain industry to develop and trade financial products and derivatives of digital assets in the future.
(2)Basic use model of Token (COCOS)
Ø Value exchange medium within the platform ecosystem;
Ø Entrusted consensus equity share representative of the Cocos-BCX public blockchain;
Ø The reference and basis for the measurement of the participation in and contribution to the platform community.
(3)How to obtain Token (COCOS)
Ø Value creation: It includes the contribution of the behavior of creating digital assets, that is, developing games, making props, etc.
Ø Platform contribution reward: Users who contribute to the Cocos-BCX community is entitled to COCOS;
Ø Market transaction: Selling the prop assets obtained in the game to get COCOS;
Ø Behavioral incentives: Various effective behaviors within the Cocos-BCX platform, community and platform games will be converted into COCOS
according to a certain contribution degree.
u Analysis: The use model, scenario application, acquisition method, market orientation, etc. for the Token ecosystem design are all well deliberated, to be verified by the market.
The ecosystem design of the Token project not only takes the macroscopic use model and scenario application, but also gives a detailed description of the acquisition method. Another point that must be pointed out is that it has a clear market orientation and future prospect as soon as the design begins, therefore, in general the Token ecosystem design is well-considered and far-sighted. However, for the volatile blockchain market, the crux depends on whether the ecological design philosophy can keep pace with the times, which is very essential. In a word, in the face of massive uncertainties, it needs to be finally verified by the market.

(三) Team member

1. Founder | 8 points


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Haozhi Chen
China's renowned Internet serial entrepreneur, and has successively led and participated in the creation of Joyo.com, Xcar.com.cn, and cdn.yeeyan.org since 1999, and founded Chukong Technology in 2009. Chukong is a leading game development and distribution enterprise in China and a major maintainer and supporter of the Cocos-BCX global open source game engine and developer community.

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Xiaolong Yang
With over 14 years of experience in technology entrepreneurship and investment, he once co-founded China's leading entertainment social networking company. As an investor, he once worked for China's leading private equity fund, during which period, he led and participated in investment projects totalling over 1 billion US dollars, and realized the exit of some projects at home and abroad. His interests and expertise mainly concentrate on information technology of the global primary market and secondary market in the later stage, and macro multiple asset category investment, and has a profound understanding of the financial market mechanism and asset pricing. He is also an investment partner in China's major technology investment fund and provides counselling for Chinese and American hedge funds, venture capital funds and large enterprises.
u Analysis: Chen Haozhi, as a founder, has rich experience in the game industry, and enjoys widespread networking and abundant resources in the industry as being one of the early Internet entrepreneurs; Another founder, Yang Xiaolong, has a strong experience in technology venture capital investment, and has the expertise for global investment layout. On the whole, two co-founders have a prominent advantage in overall industry background and integrating resources.

2. Founding team | 8 points


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Kevin Yin: An early contributor of CocosChina community, NOI winner, and ACM guest. A senior developer of blockchain, and having years of experience in compilation and distributed computing. An investor of the blockchain technology.
Jane Jin: Responsible for CocosChina community, the "Aipuworks" incubator, etc., and an expert of the Techincal Committee for Blockchain, China Software Industry Association. Bachelor of Economics, Zhejiang Gongshang University, and mini-EMBA of Tsinghua University. He once served important functions in "Fortune Global 500" including Lucent, Nortel, NSN, Nokia, Intel and other multinational companies in the marketing, sales, executive and developer relationship domain.
James Jeon: Responsible for the business development strategy and implementation of the project's South Korean section. From 2012 to 2015, he served as CEO of Gurum Company, a South Korean subsidiary of Chukong Technologies, earning an annual revenue of over $30 million from the scratch for the South Korean company and leading the South Korean subsidiary in going public successfully.
Frederick Lim: Responsible for the business development strategy and implementation of the project's South Korean section. From 2014 to 2015, he served as co-CEO of Gurum Company, and was once the director of the Strategic Investment Department of Hyundai Group, responsible for investment in Internet, communication, telecommunications and other fields. He is a doctor of Engineering Technology, Sungkyunkwan University, South Korea.
Hirokuni Fujita: originally head of the Japanese subsidiary of Chukong Technologies. He graduated from Graduate School of Arts and Sciences, The University of Tokyo, majoring in Interdisciplinary Cultural Studies.
Jason: preacher of the Cocos-BCX community and meanwhile, senior manager of the Cocos 2d-x global community. He started to program on the Commodore-64 computer when he was 8. In addition to developing the community, he was keen on studying mathematics, finance, C++ and improving his Chinese proficiency.
Qinzhou Wang: Since entering the game industry in 2009, he has worked in the brand market in ZOL. Com. CN, Howell Expo, host of ChinaJoy, and is responsible for the brand market in Chukong Technologies.
u Analysis: The special technological talent construction of the team technicians needs to be further strengthened. At present, there is a blockchain technician. The game background and the advantages of the international architecture building enjoy prominent advantages, and there are sufficient team members on the strategic level and in the aspect of ecological construction. It is worth mentioning that team building is stable, and there is a high level of consensus among team members, which is conducive to the robust development of the project.
One member of the founding team has experience in the blockchain project development, that is, Chief Technical Officer, who is a senior blockchain developer. He has many years of experience in compiling and distributed computing, and is also a technology investor of blockchain.
In the early stage, owing to the demand of the game industry in the Japanese and Korean markets, Japanese and Korean market leaders were specially arranged in the early team structure of Chukong Technologies. In particular, due to the prosperity and popularity of the game industry in the Korean market, two co-leaders were specially arranged for the Korea market, responsible for strategic and investment issues respectively.
Consultant Team | 8 points

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Zhe Wang: Founder of the Cocos engine, and CEO of Xiamen Yaji Software Co., Ltd. He graduated from Department of Electronics, Nanjing University, and later studied a postgraduate program at Department of Management Science, Xiamen University. He created the Cocos engine in 2011, which currently has 1.1 million registered developers worldwide and 300,000 monthly active developers in over 200 countries and regions in the world. The Cocos engine has arrested the attention of platform vendors at home and abroad, and has established a long-term cooperative partnership with Microsoft, Google, ARM, Intel, Qualcomm, Samsung, Huawei and Tencent, etc.
Edith Yeung: One of some "Silicon Valley's Must Meet" investors as covered in Inc magazine. She is the head of 500 Startups, Silicon Valley's famous venture capital company and incubator in Greater China, and meanwhile, manages a Mobile Collective fund worth tens of millions of dollars. She has invested in over 40 mobile Internet, VR, AR and AI start-ups, including Hooked (App store's No. 1 reading App), DayDayCook (one of Asia's largest food communities), Fleksy (acquired by Pinterest), Human (acquired by Mapbox), AISense and so on.
u Analysis: The consultant team has obvious advantages in technological achievements, rich experience in technology innovation investment and incubation experience for startups.
The consultant team consists of a Maker-oriented technical talent and two venture capital managers with a senior venture capital background, among whom, Wang Zhe, technical consultant, graduated from Department of Electronics, Nanjing University and CEO of Xiamen Yaji Software. Wang is the founder of Cocos-BCX engine. At present, the Cocos engine has 1.1 million registered developers and 300,000 monthly active developers in over 200 countries and regions worldwide.

(四) Tech Analysis

1. Tech highlights | 9 points

(1) Smart contract system which can be updated iteratively: The smart contract system, represented by Ethereum, is not subject to modification once its definition is published, making it difficult to meet the volatile demands of market. Therefore, an iterative smart contract system is designed to address this pain spot.
(2) Prop circulation platform: Unlike conventional game transaction platform, Cocos-BCX's decentralized digital asset circulation platform does not have intermediary agencies. Players can complete the transfer and purchase of non-homogeneous assets, including "game gold coins" and prop assets acquired in the game on the prop circulation platform. In the whole process of transfer, the platform will adopt smart contract for automatic matching to help users complete the transfer process more efficiently.
(3) Game interactive operation environment:
Based on the judgment of the operation environment characteristics of blockchain games in the future, Cocos-BCX has designed a set of integrated operation environment that accommodates various types of APPs, as well as the supporting interoperability interface. Combined with COCOS Creator, it simplifies the process of docking game programs and blockchain, making intra-chain interaction transparent to developers, and allowing conventional game developers to develop or migrate blockchain game without a threshold.
(4) Mapping gateway that supports multi-chain and asset riveting:
Cocos-BCX provides a set of mapping gateways used for the automatic mapping of game gold coins and props. Under the unified value measurement system, it realizes the smooth transition of different in-chain game content and different platform content. The content that can be used for mapping includes game gold coins, game equipment data, etc.
(5) Transaction authentication mechanism that prevents BP/developers from cheating:
BP, as the core of transaction processing and communication of the whole network, can know the processing result of the latest transaction prior to general nodes. Therefore, BP enjoys a priority for information with timeliness or confidentiality
, as compared with general nodes, so it has a cheating potential in terms of
information acquisition. To address the drawbacks of this technical link, five modular confrontation mechanisms has been specially designed to hold the likelihood of BP/developer cheating at bay.
(6) Economies Principle Design of Cocos-BCX:
The Cocos-BCX platform carries the game assets value created by developers by providing a complete set of functional components including the underlying public blockchain, digital property management, and exchanges. Its technology and governance structure design, based on the graphene standard, has the economic attributes corresponding to the DPoS consensus mechanism.
u Analysis: There are a multiplicity of technical highlights in that the overall technology construction shows characteristics such as rigid logic and prominent modularity, and various technical solutions and mechanisms with a strong pertinence have been put forward.
Based on the market pain spots of the game industry, and combined with the development opportunities of blockchain technology, the Cocos-BCX project puts forward a vision system to create consistence between the content producer and consumer in the digital world. In view of the initial intention of the project and the relatively profound background of the game industry, the overall technical structure design of the project is highly targeted and has a strong logic, which can be described as closely connected with each other. Based on the large technical framework system, each technical link and organization also has a strong sense of target and logical gene, and on this basis, many modular and modified technical programs or mechanisms have been proposed. However, it is worth noting that the synergy of a series of highlight technologies remains to be verified and examined. Meanwhile, attention should also be paid to the practicability and rationality.

2. Impossible Triangle | 7 points

(1) Decentralization
Ø Low fork risk: Cocos-BCX uses the DPoS consensus mechanism, which does not require miners to use mining machines for mining, and thereby it can effectively avoid the impact of centralized computing on the entire basechain, which in turn reduces a low fork risk. Under the DPoS mechanism, if a witness wants to fork by voting, it is necessary to guarantee that over one third of the witnesses violate this mechanism at the same time.
Ø Improved DPOS consensus mechanism: The consensus layer of the Cocos-BCX test chain adopts the DPoS consensus algorithm. The advantage characteristics of the improved edition DPOS are as follows: all active witnesses have the same block predefined probability as the witnesses' predefined algorithm in the DPoS consensus algorithm, which ensures that the block probability of all witnesses is consistent with the block reward.
Ø Lightweight node: In Cocos-BCX design, lightweight node is essentially an environment with chain interoperability. Unlike the whole node, the lightweight node does not require to synchronize the whole network data. Instead, it needs the contract information and environment data required for synchronous running. This design can greatly reduce the data volume and synchronization time required for node synchronization, enabling the in-chain game terminal software to have a capacity which is actually used and a plausible time cost.
(2) Security
Ø Player autonomy and asset security: Because of the open and transparent characteristics of the blockchain network, the digital asset information obtained by players in the game can be viewed through the blockchain.
Ø Guarantee by modern cryptography: Modern cryptography is a technology based on mathematics. Currently, it has been widely used in many industries in the Internet domain. Common symmetric encryption technologies include AES encryption used for WiFi, and asymmetric encryption algorithms (public and private key cryptography) RSA, ECC, etc., among which, ECC (Elliptic Curves Cryptography) is an encryption algorithm commonly used in the blockchain field.
Ø A transaction verification mechanism that prevents BP/developers from cheating: BP enjoys a priority compared with general nodes, so it has the probability to cheat in terms of information acquisition. Therefore, the BCX program has designed a set of transaction execution, messaging, and operating mechanisms to address the possible links that allow cheating by BP and developers.
Ø Iterative updated smart contract system: It can provide logical updating and loophole repair for the in-chain game smart contract, thus ensuring the security and timeliness of the smart contract.
(3) Expandability:
Ø Strong expandability of the top-level design of the project
The expandability of Cocos-BCX is powerful, which is specifically shown in a decentralized game production and an overall solution to the game economy operation established by means of the game engine, development environment and Cocos-BCX game chain.

https://preview.redd.it/xm5n7esrtb821.jpg?width=1207&format=pjpg&auto=webp&s=c3daa5d913560c0e8143c0635374596566bdbfc9
A business ecosystem is constructed based on the above overall solution, with the purpose of connecting the global game ecosystem. The main ecological links include developers, users, creative content, key ecological links and blockchain system, etc.

https://preview.redd.it/h4ssn41ttb821.jpg?width=1276&format=pjpg&auto=webp&s=ca6244d17b9745ce41b5be235f75a39f8a8af051
Ø Expanded design of specific technologies and mechanisms
  1. Multi-platform game integration running environment: This platform is mainly characterized by four features, consistent and perfect chain interoperability interface, downward transparent accepting mode, encapsulated atomic operation and multi-platform compatibility.
  2. Interactive interface of blockchain:
Cocos-BCX provides a chain-interactive development environment so that developers can easily interact with the chain through this set of environment. Meanwhile, its blockchain interactive development environment provides development components compatible with multiple working platforms, including SDK for the Android and iOS system, javascript libraries for front-terminal web applications, and python and PHP libraries for back-terminal applications.
u Analysis: The expandability of the project's "impossible triangle" shows the most prominently, and the decentralized attribute is the weakest, whose security is between the two. However, the project takes the three into consideration in terms of the technical mechanism and program function. Yet, the focus is different.
The project interprets the “impossible triangle” by means of thinking and design that focus on technical aspects and key issues.
The security level first guarantees the assets security and freedom of the ecosystem participants, and meanwhile ensures the rationality and security of the overall framework design, and finally takes its system updating and safe recovery into consideration mainly by means of player autonomy, modern cryptography and transaction verification mechanism that prevents BP/developers from cheating.

3. Development difficulty | 8 points

According to the summary of the project white paper, the blockchain game can be generally divided into four developmental stages.
(1)Using the homogeneous assets for the settlement of the game "gold coins";
(2)Free conversion of the game "gold coins" and props;
(3)In-chain operation of critical rules;
(4)Overall in-chain operation of the game
The game in-chain operation is the final form of the industry. Based on the above summary, Cocos-BCX proposes the future development prospect, mainly represented in seven aspects:
(1)Players having a lightweight full-node environment;
(2)The service stack operating in the blockchain environment;
(3)The game engine as one of the node infrastructures;
(4)Providing a joint development/debugging environment including engine, visual IDE, and chain network interactive interface;
(5)a set of asynchronous consensus tasks between nodes to ensure the trustworthiness of the engine environment. This consensus may be based on the discrimination of feature code of
the engine critical function's target code
(6) The game code (contract) is executed by the secure virtual machine controlled by the engine, and the key numerical calculation of the contract may adopt
the “Trusted Execution Environment” scheme, which is executed independently of the main part of the contract;
(7) The key process of the contract is witnessed by the adjacent or related nodes (like players in a copy).
u Analysis: The project covers a multiplicity of technical characteristics and functional mechanisms. The overall development is rather difficult. However, it is highly practicable in terms of performance.
At the initial stage of the project, four stages of blockchain game development were analyzed. After combing, the highest prospect was proposed, implicating to create a complete multi-platform game running environment, which can provide game developers with convenience in developing blockchain games and a perfect ecological environment to the maximum, while bringing game users a brand-new gaming experience and a game form that transcends the previous ones.
Based on the initial project prospect, numerous technical goals and functional modules are listed, indicating that the technical support for the project vision is rather effective. However, as public blockchain of the industry application basis, it encompasses various technical applications and functional modules. Comparatively speaking, the development difficulty is rather big. Meanwhile, as released by the white paper, the theoretical throughput of the Cocos-BCX test chain can reach up to 100,000 tps. The actual throughput is approximate to 3,500 tps, and the block time is 3 seconds, that is, the information broadcast across the entire network is completed once every 3 seconds. It can be seen from the project technical performance data that it has a relatively strong realistic significance. Therefore, on the whole, the project puts forward a sizeable technical challenge, and in the meantime has a reasonable practicability, therefore, it is worthwhile to look forward to!

(五) Project status

1. Product | 7 points

(1)System-level products
Ø The application development framework that supports multiple operating systems and various blockchain environments.
Ø Completely scripted, componentized and data-driven application development tools;
Ø An improved blockchain system, which is oriented to high performance applications and based on graphene technology framework, and its related functional components.
Ø Supporting non-homogeneous wallets;
Ø A blockchain browser that supports the contract event subscription;
Ø Supporting the third-party non-homogeneous asset exchanges;
Ø Supporting the blockchain game developed by a third party;
Ø Cross-chain asset acceptance gateway.
(2) Functional products
Ø De-intermediary assets (prop) operation interface;
Ø Paradigms of non-homogeneous assets circulation platform;
Ø Supporting player autonomy and blacksmith shop mechanism;
Ø Visual IDE (including visual editing of the game program and contract);
Ø Complete wallet, user system and blockchain browser;
Ø Smart contract system that allows iterative updating.
u Analysis: According to the information released on the official website of the project, the timeline shows that the Cocos-BCX main chain has started the closed beta test in the third quarter of 2018. Based on the obvious characteristics of the project technology module, Cocos-BCX has launched two series of projects, namely, system-level and function-level products, including development frameworks, blacksmith shop mechanisms tailored to various operations and multiple environment.

2. Code updating | 2 points

u Analysis: It is learned from official communication that the source code of the project has not been made public for the purpose of keeping the project's trade secret confidential. It is planned that the project will be open source in the future after the ecological and system products become gradually stabilized.

3. Completion status | 8 points

u Analysis: The project has formulated an overall development plan and recent work tasks, and at the same time it has demonstrated its strong vitality through weekly report, timeline and development broadcast.
According to the official channel inquiry, the project has formulated the Roadmap for the 2018 key milestone quarter and the recent detailed work task breakdown plan, and the project has a very complete display system featuring three major development progresses:
(1) Weekly reporting system
(2) Project timeline
(3) Development broadcast
Through the Roadmap+ work breakdown + 3 major system model, the project's development trajectory and dynamics have been display in a basically three-dimensional, spatial, meticulous and detailed manner, and in the meantime, the powerful execution and self-vitality of the project have been also displayed.

(六) Institution enabling (Investors)

1. Cooperative institutions | 9 points


https://preview.redd.it/w7g2hjxttb821.jpg?width=1036&format=pjpg&auto=webp&s=da35e0e9e453271300bdd8e6574e8c3a61e70225
u Analysis: Cocos-BCX has a wide margin for cooperation, and its cooperation institutions are not only numerous, but also mainly of leading and quality enterprises in the industry.
The cooperative institutions include HelloEOS, NEO, NEBULAS (chain), Loom, IMEOS.ONE, Kingsoft Cloud and SlowMist Technology, etc.
NEO is one of the earliest blockchain projects in China. It was officially created in 2014 and was open sourced in real time in Github in June 2015. Since its establishment, the NEO team has experienced ups and downs of the blockchain industry. This project can be said to be a veteran project in the industry. NEO combines with a series of technologies, such as point-to-point network, Byzantine fault tolerance, digital certificate, smart contract, superconducting transactions, and cross-chain interoperability protocols, to perform rapid, efficient, secure, and legitimate smart management of assets.

2. Investment institutions | 9 points


https://preview.redd.it/s2td22eutb821.jpg?width=1273&format=pjpg&auto=webp&s=ffcd40c67fcd16739b16207e364b91e98180ffd8
u Analysis: There are numerous investment institutions, many of which are Class I institutions, with a strong institutional strength.
Investment institutions include NGC, Binance, INB Capital, Dfund, 500 Startups, BlockVC, OK Blockchain Capital, Yisu Capital, Xiong'an Capital, ONTology, FreeS FUND, NODE Capital, Consensus Capital, Hash Capital, NEO Capital, Ticker Capital , ContractVC, Junwu Capital, Candy Capital, Hofan VC, BMETA Capital, BYTE Capital, Nimble Capital, InsurFun, BA Capital, Consensus Lab, TOKENMANIA, Byzantium Capital, etc.
The rest investment institutions are also well-known. For example, DFUND was founded by Zhao Dong, a well-known figure in the digital currency domain in July 2017. Yisu Capital is engaged in the early investment and project cooperation, focusing on blockchain technology and big data intelligence analysis, and other domains.

(七) Drawing attention | 6 points


https://preview.redd.it/fa3k060vtb821.png?width=605&format=png&auto=webp&s=ca3b6a4b185c81bbafb5bccb571a43b9bbaba148
Project content description

https://preview.redd.it/y6w1f3hvtb821.png?width=796&format=png&auto=webp&s=8f3b2116d63a77f839a1e18787dd986c34a573a3
u Analysis: The game user and developer group are highly active, and meanwhile the publicity of the media and news client are enhanced. The overall heat and operation and maintenance thinking are well-balanced. However, the current community operation link is relatively weak, and requires improvement in the follow-up.
Presently, the number of community fans is small. Therefore, the operation link of project content is rather weak. However, media communication and news broadcasting, two links of propaganda and promotion efforts, are quite effective, basically realizing a timely and real-time posting of the latest developments of the project. Although the media and news client are widely disseminated, their social interaction is relatively weak. The social platform has its own communication limitations. However, it is highly involved in interaction.

(VIII) Social Response | 7.78

User A | Point: 7.9
Comment: From the perspective of production mode and commercialization, this game is the most sophisticated. So I think this project has a very extensive application scenario, especially for developers and users.
User B | Point: 7.0
Comment: Currently, it seems that the game industry is greatly influenced by macro policies. Tencent's recent performance is a case in point. However, the project orientation is quite good.
User C | Point: 8.0
Comment: The technical advantages of the project are particularly prominent, and it also seizes the development opportunities of the blockchain. However, ultimately it needs to undergo the test of the market.
User D | Point: 9.0
Comment: First of all, COCOS has a large number of developers, solid underlying technology and reliable team work, which is worth looking forward to. Of course, great "undertaking" calls for enormous input, especially in technology. The way is arduous and long. Come on.
User E | Point: 7.0
Comment:
As a game practitioner, I would talk something about Cocos-BCX project: when the concept of blockchain game is put forward for everyone to consider, at this stage, it is no doubt that the dimension (type) of the game is developed from the perspective of "inheritance" and "tracing its very origin". If the Cocos-BCX project can be applied by game developers in terms of "development kit", is easy to learn and use, and allows the mobile game developers to shift to the development of blockchain games without a threshold, then the game dimensions and users can be further expanded. In a word, phenomenal games of blockchain games need the support of Cocos-BCX and the efforts of developers, both of which are indispensable. It is hoped that the team will make great efforts in development and publicity. "Coin friends" may not need to know how the game is developed, but they will certainly care about its future space. Such evaluation can only be called prospects and expectations. It remains to be determined whether the project adopts capital operation or the mode as solid as the old engine of COCOS till the project is landed.

III. Evaluation Summary

The project orientation is accurate, and the team has a strong lineup. It merits pointing out that its technical strength and model architecture design are particularly prominent, and there are an array of investment and cooperation institutions with strong strength. However, at present, the code has not been open sourced and the community operation and maintenance is deficient. The information disclosure of the Token link is not particularly perfect, and individual investors may care much about it. The Roadmap of the project development is all too simple. These are the deficiencies of the project development at the current moment.
submitted by ONETOPGlobal to u/ONETOPGlobal [link] [comments]

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