Website: https://iov.one
Token Type: ERC 20 issued, to be converted to IOV Token on own chain
at end 2018
Ticker: IOV
Token Supply:417,000,000
Hard Cap: 25,000,000 EUR
Whitepaper: 39 pages (slides)
Token Distribution:
Project Summary:
Blockchain Name Service and communication protocol similar to
today's DNS
Implemented via IOV wallet
Wallet
Atomic swap functionality
Implements Blockchain Communication Protocol (BCP)
1 BCP address can resolve to multiple addresses on different
chains
Provide one touch ICO solution on their platform
ICOs on IOV platform will be BCP compatible
SDK will be made for BCP compliant deployment on different chains
IOV Chain
Token
For staking and fees
Fees paid in tokens for changes in definitions
Defining BNS
Resolving
Defining the compliant ICOS
Pros/Cons:
Pros
Creating a new protocol is always a plus
SDK to create BCP compliant ICOs should increase adoption
65% of total supply being sold
Cons
Existing ENS infrastructure lacks adoption
Many other wallets already exist
Shapeshift integration will support more swaps vs atomic
swap
It should not be too hard for existing wallets to implement
support for a similar protocol
General Thoughts:
Ethereum Naming Service (ENS) has existed for a long time without the
need of an ICO. It is also safe to conclude that the adoption rate of
ENS is extremely low with most, if not all exchanges still asking users
for their 42 character Ethereum address. A real test of adoption will be
whether the IOV ICO uses ENS instead of the 42 character Ethereum
address for contribution.
The main catalyst for projects of this nature will be support from major
exchanges and we should be on the lookout for such partnerships to
better judge the adoption rate of BCP.
However, one should note that it shouldn't be too complicated to
bootstrap the existing ENS infrastructure to produce a product similar
to this. In short, there is no need to re-invent the wheel.
That being said, implementation across chains should be possible as it
is a mere fact of tagging a name to an address, similar to today's DNS.
It should also be interesting to see if sub-domains such as
"eth*silver*condor" and "btc*silver*condor" can be implemented.
To conclude, IOV has a noble goal but with a low adoption rate of an
existing infrastructure (ENS), it is hard to rate this project highly.
However, their proposed solution of a wallet and BCP compliant ICOs
might just be the missing piece of the puzzle for traction to be gained.
Rating: 6/10
Feel free to leave a comment on which projects interest you as I would
like to have a look at it too! They need not be ICOs!
Disclaimer: This is not investing advice and simply my personal
thoughts
and opinions. I am not liable for any decisions made from this post. I
am also not affiliated with any investment or advisory firms and do not
engage in activity with such entities.
Please donate if you like my content
ETH: 0xa0b9Ec81eC4dcb269D5cc27E717bb967c441233e
