My research strategy for a blockchain project is very simple:
- I research the project's whitepaper, recent development, community, Bitcointalk thread, and source code.
This step helps me decide whether this crypto currency gets me excited from a developer's perspective. - I estimate what market cap the coin should have, and then I look at the actual coin market cap.
If it's lower than what I estimated, I invest.
I undertook these steps for a project I happened upon a few weeks ago: Novusphere, and I was very surprised to find the current market cap to be far below what I had estimated.
It's like torrents, but better
Novusphere allows for online media streaming (i.e. audio and video) and static file hosting. What's interesting is their unique tech behind it: AFIX (Advanced File Indexing), which allows apps to easily integrate a searchable decentralized database of files. This makes it possible to create all sorts of libraries of content (i.e. your own decentralized & immutable vlog, wiki, gallery, etc). Wikileaks for example would be a great candidate, since content cannot just be taken down.
Think of it like the Torrent protocol + a database of (streamable) torrents.
The Advanced File Index allows for hosting any kind of content, and would allow apps, artists, etc. to reliably host their static content in a decentralised way. Any content that's statically hosted on the internet could be hosted & discovered with AFIX on Novusphere.
Development & Market Cap
Novusphere is clearly in its early stages of development. I could only find updates and an updated roadmap (official wallet releasing August 14th) in a recent post in the Bitcointalk thread. However, the deal-maker for me, the things I described above are already working.
Needless to say I'm excited about this project. Especially with the extremely low (under $5 million) market cap.
What Blockchain project would you like me to review next? Let me know in the comments.
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