[ICO REVIEW] Blockcloud — An blockchain of long-based IoT-experienced team that solves at the same time Internet of Vehicles, Smart Health and Smart Home
Blockcloud: a new service-centric blockchain architecture to address mobility, scalability, trust, security, fairness and incentive problems of IoT.
General Information
Ticker: BLOC
Website: http://www.block-cloud.io
Telegram: https://t.me/BlockcloudTeam
Whitepaper: https://www.block-cloud.io/
Twitter: https://twitter.com/BlockcloudTeam
Hardcap: 15 million USD (12 million USD for private sale)
Softcap: TBA
Ideas
In general, Blockcloud is building a blockchain-based advanced TCP/IP (Transmission Control Protocol/ Internet Protocol- defining how computers send data to each other) architecture connecting every dots of your life. It focuses on Internet of Vehicles, Smart Homes, Smart Health, Edge Computing and Sharing Economy. Blockcloud’s service covers a wide range including business system, data communication, mobile App, algorithm module and cloud storage, etc. Until now, Blockcloud network has connected more than 8 million users, 7 million devices, 1 million DAU and 3 million MAU.
Here are some of Blockcloud’s outstanding features:
Consensus mechanism: Proof of service. Each service provider who enters the network must prove that they actually provide the services and they are effective as promised. This consensus is for evaluating the total contributing resources of participants in the network, which are storage, computation, relay and bandwidth. To provide the service correctly, 3 parties are involved which are subscriber- needs and subscribes a service, Provider- provides a service, and Verifier- verifies the service.
CoDAG (Compacted Directed Acyclic Graph) for fast recording of IoT transactions. As to solve problems of the existing blockchain protocols, Blockcloud provides a totally new framework, besides miners and devices, there will be an additional role which is gateway- a device with enough resources to run the protocol- like a cellphone or a smart car… In this new ledger structure, transactions are enveloped in blocks- a gossip-like structure, fits well in asynchronous operations.
TCDA (Truthful Continuous Double Auction): it is used for fair pricing and matching of services. It will act as a smart contract which defends against price cheating, guarantees fairness and minimizes trading maintenance cost.
Architecture:
Transactionchain Layer: Lowest tier. This chain (CoDAG) stores the transactions of the network as a global ledger, and to fulfill all the characteristics of IoT, this layer must be elastic, efficient, secure, scalable and cost-effective, guaranteeing the fast confirmation time and liveness property.
Servicechain Layer: This layer is above the Transactionchain Layer, fo defining new operations and rules for accepting or rejecting Blockcloud operations. Service chain can be used to build a variety of state machines, currently a global service management system and a service matching and pricing system.
Routing Layer: Blockcloud uses service files for storing routing information, which are similar to DNS zone files in their format.
Service Layer: this layer serves the actual services for the network. Applications can use names to directly express their intent to publish or access specific services.
SCN (Service-centric Networking) is a future internet technology that provides a service-aware network stack, where applications communicate directly on service names instead of addresses. It helps enhance the mobility, scalability, and connectivity.
To enhance this potential, Blockcloud adopts a blockchain approach, which will help get more trust (when the system can run in a fully decentralized manner), protect security (communication operation between devices are embedded in the blockchain and service information is stored in Coral, routed by peer nodes- called service miners and guaranteed by Proof-of-service consensus), achieve fairness (in Blockcloud, service providers and subscribers are automically matched by Blockcloud, the process is performed by a smart contract running a Truthful Continuous Double Auction- preventing cheating and maximizes social welfare), and finally strengthen incentive ( Blockcloud will create new marketplaces which enable new peer-to-peer economic models and foster sharing economies- making the physical world every bit easy to search, utilize and engage with as virtual one).
Team Members
Blockcloud Team consists of 12 members and 15 advisors. They are all experienced experts in the IoT and also the blockchain field. The complete information about the team can be found here.
Zhongxing Ming (CEO)- has worked as a CTO of Oudman, the company behind Blockcloud ICO. He also is the visiting Scholar to Priceton University, Ph.D at Tsinghua University. He is a member of BLockchain Special Committee of China Computer Federation. He has more than 13 publications published on Top Conferences and Journals.
Shu Yang (Chairman/SCN Lab Principle): CEO of Oudman. He is the visiting scholar at Case Western Reserve University, Ph.D from Tsinghua and studied his postdoctoral degree at Hong Kong Polytechnic University.
Dai Pan (Co-founder/COO): He holds his Maser at Peking University, an Urban Intelligence Expert of Shenzhen, China. He has co-founded a Startup with 6.5 million dollars raised.
Fred Baker (Advisor): He is an Internet pioneer and former IETF chair from 1996 to 2001. He co-chaired the IPv6 Operations Working Group in the IETF (until 2013). We co-authored and edited more than 50 Internet standards such as Open Shortest Path First, Routing Information Protocol (RIPv2) and so on.
Hoan Soo Lee (Advisor): He is the Economist of Council of Economic Adviser (CEA) during the 1st term of Obama government, the partner of CMB International. He is also the cofounder and COO of Give2gether in Boston, Massachusetts, US.
Token Metrics
Blockcloud will have a private sale (12 million USD) and other sale rounds (with 5% of total tokens). The team are expecting to finish private sale by the Quarter 3, 2018, but the presale and crowdsale have not been decided yet. Here are some numbers you should take a look at when doing research on Blockcloud:
Private sale: 12 million USD (~1,500,000,000 BLOC= 15% total tokens)
Lockup Time: 20% (released before listing), 10% per month after 2 months,
Other sale: 5% (of total tokens)
Token Price: 0.008 USD
Presale + Crowdsale: TBD
As we can see in the image above, 10 % total tokens will be Early Contributor Incentive, including the incubator, private investors and early contributors. The tokens will be locked for a certain period of time. However, the information about token metrics is not fully released yet, so we cannot have detailed comments on this.
Roadmap
Blockcloud has planned a really detailed and clear roadmap as seen in the above picture. In the first and second quarters of 2018, Blockcloud have developed all the comprehensive concepts and ideas of the whole project. In the next quarter, they will starting choosing suitable partners and developing community, also continue their road show around the world as doing right now. The token sale is planned to be held in this quarter too. In the fourth one, Blockcloud will comple the testnet and landing exchange. At the second quarter of 2019, the main net will be completed and the network API will be opened. All the steps have been clearly set to support Blockcloud become one of the promising projects in the blockchain world.
Verdict
Strong points
Blockcloud has a High Hype, with more than 22 000 members in its active Telegram group chat. It has its own Roadshow around the world, which helps improve the reputation of the project for further interest.
The idea is new, great and achievable with the team of experts and professionals.
The hardcap is attractive comparing with the existing ICO projects (~15 million USD).
Weak points
Blockcloud has its own emerging competitors in IoT field.
Blockcloud does not hold its private sale or presale yet, so no information about partners and investors has been released yet.
Until now, as observed, Blockcloud has its own effective ways (Roadshows around the world) to attract more and more community members to the project. It is considered a great direction at the moment due to the importance of community members to any projects. Based on its solid idea, experienced team and community’s interest, Blockcloud will be a promising project in the third quarter of 2018. Visit Blockcloud website (https://www.block-cloud.io/) and subscribe for more updates!
Rate from Icogens.com:
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*Note: All the information (on icogens.com) including tokens sales, “interest level”, ROI rate, hype rate, risk rate are our subjective opinion and only for informational and educational purposes. The information ICO Gens provides is not an investment advice.
HYPE: is defined as the level of concern over a project and its FOMO. This score is based on the number of people joining a project’s social channels such as Reddit, Telegram, Twitter, Facebook, Bitcointalk, Medium or Slack as well as the number of review articles produced by the third party.
RISK: the risk rate of the project. Based on this score, you can find more spam warningsof the project. More specifically, RISK is about the transparency of the project, its idea, members of the development team, roadmap and whitepaper. (RISK is rated regardless ROI rate of the project).
ROI: (Return on Investment): the rate of profit a project can bring to investors (ROI is considered separately from RISK. ROI can be rated High and RISK can be rated High as well).
TERM: this factor reveals the length of time you should hold token or coin of a project. The period of time can be Short, Medium or Long.
ICOGENS’ SCORE: this score can be decided by scores of four other scores or it will reflect the level of interest ICOGENS’ team has in the project. This score is separated from ROI score. It just shows how much Icogens core team concern the project.
