Blockcloud ICO Review

Blockcloud

Blockcloud is a Blockchain-based Advanced TCP/IP.

Blockcloud Score



Blockcloud is developing an advanced TCP/IP that will be blockchain-based and service-centric to provide a stronger alternative to today’s protocols.

REVIEW VIDEO

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TOKEN SALES

METRICS

Full breakdown

Blockcloud ICO Review: Token Metrics & Usecase

The BLOC token is the network’s native token and will be used to enable an incentive-driven marketplace for IoT services. The network will count with four main categories of participants:

  • Service providers – those who publish services to the marketplace and are rewarded with BLOC tokens based on their level of contribution. Blockcloud will use the Truthful Continuous Double Auction (TCDA) mechanism to fairly distribute services.
  • Service users – those who make use of the published services from the marketplace and pay BLOC tokens to consume those services.
  • Service miners – those who maintain the ledger and protect the network from attacks by utilizing a Compacted Directed Acyclic Graph (CoDAG) ledger framework to achieve consensus. Each miner that generates a stable block is rewarded with BLOC tokens. Mining rewards are to be released at an annual rate of 5% over a period of 6 years.
  • Verifiers – those who ensure the quality of services provided and help the system decide whether to reward or penalize a service provider. This proccess is incentivized by BLOC token rewards. Blockcloud  will use mechanisms such as Proof-of-Service (POS) to verify services. 


With this model, buyers could gradually pay tokens to the service provider for verified services and avoid the risk of losing money should seller leave the network before the agreed upon service has been consumed/completed.

Green lights

  • SCN on blockchain can make blockchain more user-friendly and has a lot of potential. 
  • Team has a strong technical knowledge and extensive academic background, with most of the project advisors being professors.
  • Previous experience in business development.
  • IoT is a rapidly growing industry. According to the team, “the number of IoT devices increased 31% year on year to 8.4 billion in 2017 and it is estimated that this number will grow to 30 billion by 2020”.

red flags

  • No MVP. Testnet scheduled for Q2 2019, which is a very long time in crypto. Mainnet will not be until Q2 2020.
  • Only 20% of total tokens are sold in the ICO, which is low.
  • Core team has little to no blockchain experience.
  • Whitepaper is purely theoretical, No development status or technical parts . Also no information about how the project plans to generate revenue nor on projected business costs and goals.
  • Lack of information about the token metrics and ICO details. Smart contract code not available on GitHub.
  • No information on bonus or lockup regarding the seed round.
  • Roadmap finishes on testnet launch.
  • IoT structural projects are not an innovative concept in cryptospace. There already are a number of big players, like IOTA. Blockcloud will need to distinguish itself in order to be successful.
Full overview

Blockcloud ICO Review: Overview

Continuous communication and movement in today’s world have translated into the constant growth in mobile and IoT devices. This growth has begun to test the limits of security and scalability among internet services. Enter an ambitious solution through blockchain:

Blockcloud aims to reinvent the roads on which modern applications drive on. It is a blockchain-based advanced TCP/IP that improves and upgrades the existing Internet. Combining the advantages of blockchain and Future Internet technology, it reconstructs the technology layers below where current blockchain networks and Internet applications operate. Blockcloud serves as the “building block” to provide constant connectivity for dynamic networks. It will provide better mobility, credibility, incentives, security, fairness, and scalability to upper-layer applications.”

Blockcloud Key Aspects

Blockcloud’s approach can be broken down into a four-layered architecture:

 
  • Transaction-chain Layer: This layer stores the encoded transactions of the network as a global ledger. For this, the Blockcloud team is using Compacted Directed Acyclic Graph (CoDAG), “which can be mathematically proved to be efficient for large-scale and dynamic IoT scenarios.”
  • Service-chain Layer: Here, new operations are defined without requiring changes to the underlying blockchain. This layer also contains the Blockcloud marketplace which allows users to bid for various services. Blockchain nodes do see the raw transactions, but the logic to process Blockcloud operations only exists at this layer. The rules for accepting or rejecting Blockcloud operations are also defined here.
  • Routing Layer: Blockcloud separates the task of routing requests (i.e., how to discover service) from the actual providing of service”. Contrary to typical web services, this unusual seperation allows multiple service providers to exist concurrently.
  • Service Layer: The top-most layer, it serves the actual services of the network. The network will utilize Proof-of-Service (POS) to ensure service reliability, with the help of the network’s verifiers. It is provided on this level a programmable service-level data plane that can adopt diverse service discovery techniques.

Blockcloud
DETAILED ANALYSIS

ICOs Found

ADVISOR SCORE

Medium - High

  • Strong team of advisors with significant potential impact in the blockcloud project.
  • Majority of advisors have little to no experience in blockchain.
  • None of the advisors list their affiliation with this project on their Linkedin profiles.
  • Advisors’ LinkedIn profile links not provided in the team section of the official blockcloud website.

TEAM SCORE

Medium - High

  • Institutional investors in the project include Genesis Capital, OK Blockchain Capital, Kucoin, Neo Global Capital, JRR, BlockVC, GBIC, among others.
  • The core team consists mostly of Chinese academic scientists from Tsinghua University, Shenzhen University, and the Hong Kong Polytechnic University. Other team members have a great experience in startup launching. Previous experience in business development (already built several partnerships).
  • No cryptocurrency/blockchain allstars neither in core team nor in advisors board.
  • Core Dev team seems to have no prior experience with blockchain.

HYPE SCORE

High

  • The project has a lot of hype in Germany, from where 50% of website visits originate.
  • Big Hype surrounding the project (40k telegram users, partnerships and private investment)

TOKEN SCORE

Low - Medium

  • Only 20% of total supply is sold, which is low.
  • Team has 4 years vesting, which is a good sign.
  • 20% of Private sale tokens will be released before exchange listing, with 10% every month after listing.

TEAM

Shu Yang

Chairman / SCN Lab Principal

Zhongxing Ming

CEO

Dai Pan

COO

Claire Xiong

Director of Business and Communications

Kun Liu

Head of Marketing

Kun Hu

Head of Development

CONCLUSION

Blockcloud ICO Review: Conclusion

Blockcloud’s team has a very strong academic background, but little blockchain experience. Instead of raising over $20M like other projects, Blockcloud has gone with a lower hardcap of $15M, which is good. Blockcloud is potentially disruptive due to its ambitious combination of the blockchain with Service-Centric Networks, a decentralized CDN via Coral, a dynamical DAG for quality and reputation management, and a marketplace for various IoT services. The project has numerous moving parts and its concept is quite complex, which translates into a higher amount of risk. Blockcloud ICO has a very interesting idea and a strong team, but no visible development plan, inexperience in blockchain, strong competition from other early-started IoT projects. BLOC tokens should appreciate in value as more participants join and use the network, which is driven by factors such as ease of use, pricing, mobility, security, etc. Market conditions and competition will prove to be a tough challenge for this.

 

 

5.6

ADVISOR

7

TEAM

7.2

HYPE

6.1

TOKEN

iot

CATEGORY

All information including our "Grading system" rating, is provided merely for informational purposes. ICO DOG does not provide investment advice (read more).

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