Devvio ICO Score
Devv.io ICO is addressing the most pressing problems that Blockchain and cryptocurrencies currently have. Devv.io is trying to solve scalability, cost, stability, fraud/theft/loss, and privacy. When the devvio team first started looking into blockchain, there were no solutions that addressed all of these problems in a single answer, so they designed their own protocol from scratch. If one builds a house without a solid foundation, nothing good will come of it. Devv is unique in its sharding solution (we have recently benchmarked at over 8 million transactions per second), our privacy solution which is meant to work within government regulation, our fraud/theft/loss protection capabilities, our efficient and inexpensive Smart Contract solution (using Smart Coins), and our stable coin implementation. The Devv cryptocurrency can be used for payment in Devvio’s Blockchain-as-a-Service business.
- The TPS of 8 million (once entirely confirmed) would be the fastest in the current blockchain world.
- Very experienced team, with the ability to reach their milestones.
- Experience in founding and supporting successful companies, therefore deep-rooted connections in the business world.
- Devvio’s Blockchain as a Service (BaaS) approach allows Developers to easily implement scalable blockchain solutions using a practical real-world philosophy.
- Devvio have key partners onboard such as Token Market & Mitchell Silberberg & Knupp LLP (MSK)
- The 8 million TPS isn’t full proof yet, but Devvio has announced that the testnet should be up and running in a few weeks, hopefully at the end of August 2018.
- A tough market to be successful in with many competitors, but should they hit every milestone we don’t see why they won’t be hugely successful.
Devv.io ICO REVIEW
The Devvio ICO and its DevvFiat token are launching a large-scale attempt to tackle and take down the most pressing issues facing blockchain, all in one go. This Devvio ICO review takes a closer look at the details of this undertaking.
Devv intends to solve these issues by employing and providing an extremely fast, efficient, and scalable architecture (scalability at 8 million transactions per second) that will facilitate: a stability solution, fraud/theft/loss protections, privacy that will work within government regulation, inexpensive smart coins. The Devv Protocol supports a cryptocurrency (the Devv Cryptocurrency) designed to ultimately enable worldwide transfers of any type of digital asset. It will allow Developers to implement custom solutions using the INN’s Blockchain-as-a-Service capabilities. The Devv Protocol includes a governance methodology that is designed to scale while maintaining all of the most important aspects of a transparent, open source, trustless cryptocurrency.
In spite of the many different blockchain approaches that currently exist, there are a number of challenges that have not been solved in a single solution. Various ICOs provide parts of the solution, but a single ICO that addresses all of these major challenges remains to be seen. Devvio wants to be that ICO by addressing issues in the areas of:
Governance, Scalability, Volatility, Cost, Transaction fees, Privacy, Immediacy, Energy Usage, Low community payout, Fraud, Theft, and Loss.
This very general presentation of problems that blockchain faces today is here in order to show the various fields where Devv ICO wants to provide solutions under one platform and token.
The Devv Protocol uses its own consensus algorithm, known as Proof-of-Validation. With this foundation, the Devvio Protocol was designed to provide solutions for the challenges mentioned above.The goal of Devvio is to create the first truly scalable blockchain, as it includes a full set of needed capabilities in order to grow with minimal impact to operating costs, such as its sharding approach and its Devvnero implementation for fraud, theft, and loss.
Devvio and the Immediate Node Network
he Immediate Node Network (INN) isa trust-based networkoperated by Devvio. It isbuilt on top of the DevvNetwork. It allows immediate transactions that can be verified in under one second. It also enablesa number of additional features such as fraudand theft protection, loss prevention, a stable version of the cryptocurrency, and private transactions.
The INN utilizes a secondary form of the Devv cryptocurrency called Devvnero, described below. DevvneroWallets and Devvnero transactions have a known identity associated withthem, privately held by Devvio, which in turn enablesthe INN’s optional features
Devvnero can be used to handle situations where the ability to have chargebacks or reversed transactions is desired. Devvnero operates under special rules, different from Devv, but all Devvnero transactions are validated on the blockchain using the same methodology as Devv. Devvnero serves as a temporary instrument that represents Devv, but transactions made with Devvnerocan be reversed by Devvio. Devvnero is similar in nature to a particular type of smart contract, but its purpose and use is defined and it is integrated into the core of the protocol.
When a transaction, such as a purchase, is desired to be made with Devvnero, the sender simply indicates that Devvnero should be sent instead of Devv. Devvnero replaces the Devv in the sender’s wallet, and Devvnerois then sent to the recipient. Devvnero also includes a timestamp indicating when it was sent and a time period upon which it converts back tostandard Devv. The system default is Sdseconds (for example, a number of seconds equivalentto 15 days). This conversion is an automatic transaction computed and validated by nodes.
Medium - High
Devvio ICO TEAM
Full List of the Devv.io ICO TEAM HERE
Github & Tech
Devvio ICO Tech Review
What is Devv protocol?Devv is a protocol developed and maintained by Devvio (the trust-based company overseeing the operations of the Devv blockchain) with the aim to address today’s major blockchain challenges. Devvio ICO has developed a solution for the common issues of governance, scalability, volatility, platform/value integration, energy use, supply issuances, fees, immediacy, privacy concerns, and protection from fraud/theft/loss. Devvios philosophy is that ownership representations should be maintained on-chain and processing should be mostly handled off-chain. In the situations where there is a need for on-chain processing, it should only include mechanisms for recording and transferring ownership of digital assets. In this way, on-chain tasks are reduced to the essential and most of the computational work is delegated to nodes outside of the blockchain.
How does Devvio ICO implement consensus?Devv uses a permissioned approach called Proof-of-Validation, which implements validation and consensus, and maintains a validated state based on the full blockchain record. Validators are the consensus provider nodes (similar to miners in other blockchains) and are directly chosen and (often) managed by Devvio, their main role is to assure consensus by validating transactions in the blockchain. Validators are paid to provide a consistent consensus of the blockchain, and all transactions are validated with public-private key pairs and be recorded in a publicly available and immutable blockchain. Source code algorithm used by Validators is publicly visible by anyone.
How does Devvio implement scalability?One of the biggest challenges in blockchain technology lies in the speed at which transactions can be recorded and executed, credit cards can process thousands of times as many transactions per second as most tested on large scale blockchains. Scalability is achieved by sharding the network into a multi-tier network of blockchains that work together to scale. Devv ICO approach is based on a system where there is one Tier 1 Blockchain (T1) and many Tier 2 Blockchains (T2), representing the shards. T1 and T2 blockchains represent the entire Devv blockchain implementation (where TN represents the individual blockchains T1 and all T2). Each TN is an implementation of the Proof- of-Validation consensus model, in which transactions are validated by nodes in the respective TN using Proof-of-Validation.T1 network implements the mechanism for cross-shard transactions. T2 networks comprise the blockchain (they represent the blockchain itself), then cross-shard transactions flow through the T1 network efficiently in order to tie them all together. In Devv protocol implementation, every wallet is assigned to one and only one T2 network (called the Wallet Designation), which handles transactions only for their designated (or owned) wallets and transmit those transactions to T1 over time. Through the use of T2 networks (T2 networks can be geographically distributed), the total number of transactions per second can be scaled with the number of T2 networks. T1 is, in essence, algorithmically load-balancing the work performed by the T2 networks.
How many nodes are needed to reach a high TPS value?
Devvio estimates the number of 8 million TPS, with around 3k nodes in the network and around 30k Validators running.
The Devv Protocol is designed to solve the most pressing issues facing blockchain today. It employs an extremely fast, efficient, and scalable architecture. The Devv Protocol supports a cryptocurrency (the Devv Cryptocurrency) designed to ultimately enable worldwide transfers of any type of digital asset. It will allow Developers to implement custom solu- tions using the INN’s Blockchain-as-a-Service capabilities. The Devv Protocol includes a governance methodology that is designed to scale, while maintaining all of the most important aspects of a transparent, open source, trustless cryptocurrency. Before the test that fully verifies the 8 million TPS has been passed it is certainly too early to give a final judgment or conclusion. This is an ICO where you absolutely want to read the whitepaper to really understand the full scope and proposed innovations in detail. While many ICOs can be adequately described with this review format, that is simply not the case for Devv. Judging from the teams previous success in similar and other enterprises, it seems safe to say that if Devv passes this final test it is one of the stars in the current ICO landscape. Big announcements for groundbreaking solutions and innovations are something to celebrate and look forward to if they can be realized. From the current standpoint of this Devv ICO review, it seems that the Devv team is able to get the job done. We look forward to seeing their progress in the coming months.
All information including our "Grading system" rating, is provided merely for informational purposes. ICO DOG does not provide investment advice (read more).