Foam Protocol ICO Review

Foam Protocol

FOAM is building a Spatial Protocol on the blockchain with Proof of Location

Foam Protocol Score



The FOAM Proof of Location protocol empowers a permissionless and autonomous network of radio beacons that can offer secure location services independent of external centralized sources such as GPS through time synchronization. At FOAM, they are committed to building spatial protocols, standards and applications that bring geospatial data to blockchains and can empower a consensus-driven map of the world. ICO starts May-June 2018, no Pre-sale.

LINKS

WEBSITE WHITEPAPERS

SOCIAL MEDIA

REVIEW VIDEO

TOKEN SALES

METRICS

Green lights

– Very technical White-paper with some good use cases. – Solves a real life problem should they be able to achieve their goals. – Incentivises users for location services.

red flags

– No token metrics available, token sale is only 1 month away (May/June 2018) – Lock-up for Team & Advisors not known. – For FOAM to work and be successful it relies on the community to adopt it.

Foam Protocol
DETAILED ANALYSIS

ICOs Found

ADVISOR SCORE

Unknown

Low-Medium – No Allstars. Only 2 Advisors on the website. – Alyssa Wright is an OpenStreetMap Consultant and AdvisorGeospatial technologist, strategist & entrepreneur focused on the intersection of open innovation, community, and collaboration. Started at beginning of OpenStreetMap, OpenGeo, Open Transport Partnership and Mapzen. She’s let you know when she’s arrived at the destination.

TEAM SCORE

Unknown

Medium – Young team experienced in Blockchain technology. No real experience in running a huge company project like this. – Kristoffer Josefsson, Co-founder & CTO is a Senior full-stack blockchain and smart contract developer. Early member of Consensys. Founding Member of BlockApps.

HYPE SCORE

Unknown

Low – Low hype from the community, only 9k Telegram members and 6k on Twitter.

TOKEN SCORE

Unknown

Low – No token metrics available so far.

CONCLUSION

FOAM aims to turn networks of spacial data into real time markets. They want to provide proof of location, they also want to standardise locations for smart contracts whilst creating incentives for location based data.They will also maintain property registry on the Ethereum and securing Internet of Things devices, supply chains and maps. For Foam to be successful it will rely on the community to adopt it’s platform. FOAM incentivizes a distributed network of beacons with radio transceivers, called Zone Anchors, to be deployed. The first step in joining the network is sending signals to connect with and discover nearby Zone Anchors. Proof of Location depends on accurate and synchronized clocks. Zone Anchors send messages until a consensus can be formed on the precise time. The timed difference of messages sent and received allow for location to be calculated and the geometry of the network to be determined. They rely on a Byzantine Fault tolerant clock synchronization protocol.

3.2

ADVISOR

4.6

TEAM

1.6

HYPE

3.8

TOKEN

platform

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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