Disclaimer: This article does not constitute investment advice, legal advice, tax advice or any other nature and should not inspire any investment or decision whatsoever. All data comes from OnChain.fx (13/09/18 at 12.30pm)
Here is part two of the overview of the cryptoassets that stand out by Coinhouse conditions:
Ripple is a cryptoasset experiencing strong customer demand. It is the third market capitalization, hence it’s hard not to talk about it. Instead of working on a public blockchain, Ripple works with a network of nodes. Users accounts operate on an open ledger and transactions are validated with a consensus. This protocol allows users to exchange any currencies, such as USD, EUR, Air Miles or debt contracts that represent a specific asset. The project started in 2004 with Ripplepay. Ryan Fugger wanted to create a decentralized monetary system with users creating their own currency in an efficient way.
Ripple’s technology evolved a lot in 2012 when the company OpenCoin was founded and worked on the Ripple protocol development. OpenCoin changed its name to Ripple Labs in 2013 and then Ripple in 2015.
The main ambition of Ripple is to replace Swift transfers between banks. Some partnerships are encouraging, but the technology currently uses a tool called Xcurrent, which doesn’t depend on XRP to operate. Debates about Ripple are frequent within the crypto community, but this asset could potentially represent the biggest security token in the future. This is why XRP is in our short-list. It’s however important to notice decentralization is not a priority of Ripple, so censorship and manipulation are possible.
Indeed, in September 2018, 100 addresses gathered 97% of assets. The Ripple company owns two-thirds of it and controls the protocol. It means they can decide everything concerning the use cases, permissions, wallets creations, etc.
The Aragon protocol is a platform to display decentralized services (Entreprises, DAOs, Dapp). It’s a new kind of governance system because you can manage a private entity, its funds, its employees and their incomes just by using the Ethereum blockchain.
Aragon is a decentralized autonomous organization (DAO), so the plan is for participants to receive ANT tokens, then vote for which projects to fund or which strategic evolution to pursue. Creation of new ANT tokens is, for example, a decision made by the DAO. Aragon also permits decentralized problem solving when a consensus is not achieved.
Luis Cuende is the lead manager of the project, with Jorge Izquierdo as the CTO. In May 17, 2017, Aragon’s ICO raised $25M in Ethers in less than half an hour. Aragon has developed a Minimum Viable Product (MVP) called Aragon OS. It’s free and it works properly, but you need gas like Ethereum and ERC-20 tokens.
Aragon has strong credentials with highly skilled and dynamic team. Their MVP works properly. Governance system needs to be easier to display all over the world to catch the attention of more users. Coinhouse definitely keeps an eye on this projects for the next years.
0x Network offers a kind of Decentralised Exchange (DEx) based on ERC-20 tokens transfers. It will bring more security to users because there will be no more third-party who could be hacked or suddenly suspending transactions because of a new government regulation. A decentralized exchange transmits responsibility from a third-party to final users.
Moreover, off-chain transactions reduce transfer fees and limit the block increase of the Ethereum blockchain. The 0x network will use Dapps hosting off-chain order books with fees paid in ZRX for the service provided. But the most important thing is decentralization: owning ZRX gives you a power of decision proportional to how many tokens you have. Then you can vote, for example, on how the protocol should evolve.
0x Network’s first release was in October 2016. Founded by Will Warren and Amir Bandeali, the ICO raised $24M in Ethers within a day in August 2017.
The team has the technical skills and a good understanding of economic mechanisms. Some services based on the 0x Network are already in production. In the future, 0x could gather the advantages of centralized exchanges and DEx together.
The Dether Dapp allows people who want to buy or sell some Ethers against local currencies to match anywhere in the world. Shops accepting ethers can also be found using Dether. Each one can become an independent economic actor and gets paid in Ethers. This project aims to decentralize Ethers exchanges which still require long and centralize processes today (registration on centralized platforms, KYC, funds transfers, etc.) Dether tends to be an alternative in countries where the banking system is poorly spread.
DTH token is used as a license to be authorized as a shop or buyer on the application. Users have to hold DTH to be visible on the network.
Dether has been founded in October 2016. It won the Hackathon prize during the Merkle Week in Paris in March 2017. Alpha version was displayed on an Ethereum testnet (Kovan) in October 2017. The ICO has raised 15 000 ETH in February 2018.
The technical capabilities of the team is strong. They proposed an MVP (Minimum Viable Product) in production. This MVP proposes an interactive map to put forward merchants accepting Ether as a means of payment. The next update is supposed to arrive before end of 2018 with a mobile app for merchants. The Localbitcoin of Ether could potentially start becoming a big deal.
BAT tokens are used as a currency between advertisers, content creators and users. The Brave browser features strong privacy and security, with an ad-block system and improved relevance and performance.
Part of the team comes from Mozilla and has strong technical skills. The Brave browser is already recognized as a good browser providing security and data privacy. The way you can manage ads is a fair system for advertisers, content creators, and users. The Youtube community could be inspired by this system. But will the remuneration to watch ads be enough to convince users to download a new browser whereas some plugins already exist in classic browsers?
iExec (RLC) aims to ddecentralizethe cloud computing market with the RLC token, an ERC-20 token allowing to buy or sell computing power and storage on the iEx.ec network. As a result, iExec provides easy-to-use Dapps, datasets and computing power, working on the Ethereum blockchain with security and prospective. It is like an online marketplace service which allows a user to offer computing resources and interact directly with buyers. You can trade with each other freely, which was not possible before for cloud solutions.
iExec is a French company founded in 2016 by Gilles Fedak et Haiwu He. In April 2017, the ICO raised more than 2.700 BTC and 17.300 ETH in less than 3 hours, an equivalent to €12M at this time. iExec first version was released in november 2017 while the V2 including the marketplace as well as the consensus protocol called ‘’Proof-of-Contribution’’ is out since May 29, 2018.
Team’s technical skills are high and the staff knows the ecosystem. A first version is already out. They are not leaders in cloud computing but their alternative is interesting and their target audience different from the Golem project. It was an early ICO so the numbers of coins they raised represents a very interesting value today.
The Ark network is basically a decentralised ecosystem where businesses and other users can create their own blockchain, smart contracts or Dapps in just a few clicks. ARK intends to become the intermediary between different chains, called sidechains, allowing them to communicate with one another and trigger events across chains. Sidechains are totally customisable to business requirements and designed to increase user adoption of blockchain technology
The consensus algorithm used is DPoS (Delegated Proof of Stack) requiring 51 delegates to work and to be secured. The more ARK tokens you own, the more powerful your vote. A block is forged about every 8 seconds.
The project started in 2016 when François-Xavier Thoorens quited Lisk and founded ARK with eight other colleagues disappointed by Lisk’s new direction.
The first ICO failed to reach the 2.000 BTC soft cap in December 2016. The ARK team proposed investors to be refilled or to keep their investment. With about €800.000, the team launched the network in March 2017.
The team, partially French, has the required technical skills and the project is already on mainnet. The members stayed focused despite difficulties. The roadmap is good and linked to the Ethereum blockchain (with Smartbridge). A lot of companies have an increasing interest in blockchain and are thinking about implementing one to improve processes, security, supply chains, etc. It is a good alternative to the classic way which is to create a token with the Ethereum network.
Tezos (XTZ) is smart-contracts platform based on a unique Liquid Proof-of-Stake that encourage token holders making decisions together to govern the platform and improve it over time. When actively working through the network, the user participates to the decentralisation of the project. It is possible to delegate the proposal rights to another user.
Tezos has an on-chain governance system organised in 6 months-cycles, allowing a smooth evolution of the blockchain with community vote. Developers are able to independently submit proposals for protocol upgrades wherein they include a request for compensation for their work.
Tezos aims to limit coding errors in smart-contracts, using specific languages to easily check the code. It is supposed to avoid all the bugs
Founded by Arthur Breitman in 2014, Tezos waited for on-chain governance to put everything together. ICO occured in 2017 and raised €232M in BTC and ETH, which is one of the most successful ICOs. Betanet was out on July 2018, after a long wait of one year and difficulties about governance which are now resolved.
The Tezos team is skilled. The company has developed partnerships with key actors, ensuring to propose a very competitive product. Despite difficulties, the team kept going and delivered as promised. The betanet is on production and no worrying problems have been noticed. Economic incentives and on-chain governance are clearly the strengths of Tezos.
Creating a cryptoassets short-list is a demanding but an essential exercise when one wishes to diversify his investments. It helps one focus on a handful of cryptoassets possessing competitive advantages and actually solving a real world problem for clients. This mental exercise of creating a shortlist is important to do every so often. It helps one to keep up with each project, following their recent news and product updates. This shortlist is however open to improvement and will be updated depending on how the cryptoassets market will evolve.