ICO Analysis: PCHAIN
Published on May 5, 2018
By Joshua LarsonThe hottest projects out right now are the ones that will allow DApps to employ smart contracts on their blockchain. It’s early, however, and smart contracts have yet to be perfected. For example, Ethereum has over 200 DApps planning on using smart contracts on their EVM that face some serious obstacles that have yet to be solved.
TokenPCH token will be used as to pay the fees for invoking the smart contracts and combining smart contracts with blockchain. There will be a POS system that has not been detailed yet.
The allocation is as follows:
15% private sale (315m)
20% Public Sale (420m)
25% Team and early contributors (525m)
25% community and Pchain foundation building (525m)
15% POS mining (315m)
A breakdown of the use of funds is provided below:
65% – R&D
20% – Marketing
10% -Promotions/events
5% – Legal
TeamThe team from China is very impressive. Below, Founder Feng Cao speaks about scalability at the World Digital Assets Summit, with the Founders of Zilliqa, IOST and Aelf. The well respected, well connected Chinese team at PCHAIN have dreamed up the solution for scaling single chained smart contract platforms and now must build the thing, which they seem more than capable of doing.
Dr. Feng Cao – Founder. Won the IBM Global Achievements Award three times. He invented the first blockchain patent from China, co-founded ChinaLedger and serves as Senior fellow of China Blockchain research alliance. He founded several other startups in China, published 22 papers in ACM/IEEE top conference and 30+ international patents. Here he is with The Man himself.
Ruosong Xu (CMO) – Experience includes CXS, HUAWEI, China Mobile.
Haojing Lv (Architecture) -Experience includes SAP Shanghai Lab, which is “A blockchain technology pioneer”.
They have three of the top computer scientists in all of China. Dr. Zhenjie Zhang (Query Speedup and Indexing), Dr. Zhihong Chong (Knowledge Graph) and Dr. Kai Zheng (In-memory Data Management). These guys have published thousands of papers and citations. They have contributed to projects like HUAWEI, China Electronics Group and Focus Technology to name a few.
The company recently announced three more powerhouse advisers:
Ken Huang – Well known Blockchain Expert formerly from Huawei, CISSP, Conference Commit Member of ACM Practitioner Board, Chinese Institute of Electronics Blockchain Expert Committee.
Daniel Wang – The Founder of Loopring, a Google tech lead and much more.
Howard Yuan – Venture partner of Longcapital VC, CFO of IBM China. One of the early investors of Binance, Aelf, OmiseGO, Power Ledger and Cortex.
VerdictPCHAIN is a new and unique multi-chain system. The scientific layered design enables the large-scale industrial application of blockchain smart contracts. And not just any smart contracts – theirs will have a new oracle mechanism based on knowledge graph.
Risks 25% of the tokens go to the team and early contributors. No details are known about what kind of bonus or amounts of money was raised. The entire token sale is pretty non-transparent so far. -1
This is sort of normal for Chinese projects but needs mentioning: The team’s social media is lacking. Their Twitter pages are only a couple months old. Their LinkedIn pages are not updated. It’s very hard to get info on the project if you don’t speak Chinese. -1
The roadmap is long. It seems like they won’t have any kind of tech out for seven more months. So much can happen as they build their platform.-1
Growth Potential The PCHAIN Foundation, a non-profit organization, plan to establish the following departments; General Executive, DApp Management, Code Review and Public Relations. The people running these departments are the real deal.+2
The roadmap is long but realistic, leaving plenty of room for growth while working towards the “Knowledge Graph Blockchain Alliance.” This is only 18 months away. +1
PCHAIN’s competitors are the multi-chain projects like Dfinity, Zilliqa and Aelf. These type projects are extremely valued by the community. The PCHAIN whitepaper does a great job of explaining what separates them. To sum it up, PCHAIN’s competitors don’t support the smart contract call of non-native tokens, while PCHAIN improves the overall performance of the blockchain from the perspective of Data Processing and Sharding through a multi-chain structure.+2
The team is the strongest part of the project. They are very well connected.+2.5
Although lots of words get lost in translation, this quote gets it:
“10Millions level investment to PCHAIN. LD Capital is one of China’s most influential blockchain investment org. Qtum, NEO, VeChain, EOS, BeeChat, ELF,100+projects. portfolio return over 100 times. The founder of LD capital, Lieu Yi was the early LP of Xiaolai Lee’s Coin Capital” (Cao Feng, Twitter) +2
DispositionThe PCHAIN Team is highly capable and well connected. Being the only project out of all their competitors to support the Etherum Virtual Machine and its 200+ Apps, should give them a leg up, though anything can happen in the 18 months it will take them to be fully functional. 6.5/10
Proof:
https://hacked.com/ico-analysis-pchain/
