ArcBlock, the World’s First Blockchain Ecosystem for Decentralized Applications, Rewrites History with Record-Setting Public Sale.
Blockchain 3.0 pioneer concludes initial coin offering within 20 minutes with 53,206 participants from 170 countries
With momentum building from a successful Private Sale that netted more than one million Ethereum (ETH) from over 5,000 individuals, ArcBlock, the pioneer in Blockchain 3.0 technology, announces that it has reached its total hard cap of 12,500 ETH and six million CyberMiles Tokens (CMT) in just 19 minutes.
What makes ArcBlock unique is that it’s not just a set of APIs or libraries—it’s a robust platform with a full set of features. Additionally, the service uses the latest in blockchain technology to run on top of its very own native token.
According to their White Paper: “The ArcBlock Token (ABT) is native to the ArcBlock platform. To achieve high-performance transactions, we built an optimized blockchain dedicated to ArcBlock’s own token services and the public ledger. The design goal is to achieve >100,000 Tx/s, which is more than adequate for a wide range of applications. In the future, this blockchain could be improved for broader purposes.”
The ARC is designed as a general purpose token that can be used in different scenarios. Within ArcBlock, the ABT’s basic utility value is to pay for the cost of using the ArcBlock system. Like a cloud computing service, the ABT is a utility token for paying the cost associated with using the service.
The total supply won’t exceed 186,000,000 ABT, which are pre-mined with 0 inflation. The maximum amount of tokens that would be available for sale will altogether represent a 45% of the total supply. That would make 83,700,000 tokens. An 8% is reserved for the marketing and partners support, including bounties (1%). The ArcBlock team reserves a 15% while community rewards will share 32% of the tokens, equal to 59,520,000 ABT.
Team
The founder and CEO of ArcBlock Robert Mao, has previously worked with the ‘Seattle Entrepreneurship Club’ as Chairman and Director of Board, and Microsoft Corporation as a Research Software Development Engineer. He is also the Chief Architect of the platform. Flavien Charlon (Chief Scientist) an engineer with a Physico-Mathematical background, previously worked on Microsoft’s ‘Azure’ programme and Founder of Coinprism and Trezeo. Jean Chen (VP of Marketing) has prehistory with the Chinese ‘Shunya Total Communication Group’ where he served as a senior consultant and account manager. The principal of ‘Carney Badley Spellman’ and Director of Seattle based ‘The W Fund’ Joe Wallin (Legal Counsel) completes the core team.
Taking a quick look under the ArcBlock ‘hood’ would reveal industrial titans backing the project including The Linux Foundation, IBM, W3C, and IEEE.
IBM’s Hyperledger is one of the largest and first Blockchain developer programmes around signing the blockchain based economy of Dubai and working on next-generation blockchain and IoT based smart cities starting with Singapore, Canada, and the U.S.
When it comes to the crypto-sphere of blockchain technology, IBM has already backed Stellar (XLM) which managed to climb in the top 10 based on market cap in less than a year. Other projects include the INS Ecosystem, the first and largest blockchain based grocery platform that launched recently and ArcBlock, promising a stable and healthy rise based on solid international partnerships around the globe as expected.
Verdict
Having in mind that 3d and 4th generation blockchain platforms are around the corner, we can be certain about their positive impacts when it comes to bringing solutions to the crypto sphere that was until recently filled with 1st and 2nd generation platforms like Bitcoin.
ArcBlock promises a reliable, fast and scalable platform backed by serious industrial ‘cards’ making it easy to climb the ladder in a matter of months.
Of course, we should be aware of the fact that as time passes and technology evolves, more and more startups focus on blockchain solutions as of 2018 and later. The competition ArcBlock has to face will be equal to its level if not stronger.
IBM may be one of the leading companies when it comes to technological innovation and patents but we must not take lightly emerging companies hailing from the East seems to have no relative background, but they manage to carry some really interesting and innovative ideas when it comes to blockchain technology.
Risks
From an investors perspective you should pay attention to the following facts:
The ArcBlock team has no previous experience in the blockchain field. Many creative startups fail just due to that fact regardless of how good their initial idea may be. -2
Only 45% of the total token supply will be available for traders, meaning that a big portion (15%+32%=47%) will be in the hands of the company and their community workers. Something similar already happened with Ripple (XRP) and although blockchain is all about decentralization, new projects have a quite ‘centralized’ approach. -2
The Ethereum Enterprise Alliance along with its Ethereum Network is the dominant platform for most altcoins in terms of transactions. It might take some time until ArcBlock manages to generate an umbrella of companies on its own platform. -1
Growth Opportunity
Despite the fact that ArcBlock may be new in the field, we know that IBM partnerships are not easy to establish and most of the time they always succeed in reaching their vision.
Taking Stellar (XLM) as an example, we can be very confident that ArcBlock with the help of IBM could reach the big table in a matter of months acknowledging that 2018 will be the year where institutional and governmental money will flow into the ‘game’. +4
Stellar has a total supply of 103,610,058,900 XLM while ArcBlock has just 186,000,000 ABT, meaning that its price per unit could be almost ten times higher compared to XLM when ArcBlock reaches Stellar’s current market cap. +3
A new platform that is not relying on Bitcoin or Ethereum for transactions with faster, cheaper and more scalable options will definitely attract some new and even old platforms to think about adopting ArcBlock as their main ‘channel’. +4
Disposition
In 2018, many new blockchain based platforms will be launched and used worldwide, covering a big spectrum of problems that users and companies might be looking to solve.
ArcBlock must be ready to face extremely high levels of pressure and industrial competition as well as making sure it is prepared to adopt and interfere with various other blockchain based projects that might jump in to test the ArcBlock Network sooner than they would expect.
ICODrop review
