December 20

Tokenbox ICO Project Analysis: Noosphere

December 20

The new project offers a new a service-oriented sharding platform based on blockchain. Tokenbox analysts have figured out what the chances of success for a company from Hong Kong.

Noosphere (Hong Kong)

Noosphere is a service-oriented sharding platform based on blockchain. Each individual functionality on this network is a separate shard. An ecosystem, therefore, consists of shards that are managed independently, but can interact freely with each other, which increases speed, scalability, and added functionality. After all, even if one application fails, it will not affect the network as a whole.

All shards are divided into two groups: static (created by the team for filling and functioning of the ecosystem) and dynamic (created by Dapps users or ones with additional functionality, for example, private contracts). Each element is a separate shard that interacts freely with others, thanks to its own data transfer protocol UFT. The Root Shard (Root Shard) and the NZT shard (a shard with system tokens) are also referred to the main shards. The NZT shard transmits value within the network. The root shard is responsible for confirmation and validity of data received from other shards, storing a list of active shards, storing a list of active nodes in the network, storage of service information about shards.

Hybrid Consensus (SGC + CBFT) consists of two parts. The first part is the usual algorithm: voting among the selected validators. There are two types of nodes: Twig and Steam nodes on the network. To become a Twig Node, you need to have sufficient computing power and good network bandwidth and pass the selection from the list of candidates after a certain time interval.

There is a chain project that works using similar BFT consensus. At the same time, chain employees restore the network manually in case of failures. This is unacceptable for global distributed systems, so the second part of the consensus is introduced to the Noosphere, the usual sequential validation of Twig blocks by the nodes using the secured hardware of the Intel SGX, where Proof-of-Elapsed-Time serves as a consensus algorithm.

In general, the idea with services as individual shards is quite interesting That way shards can be created to connect third-party blockchains, and shards with private contracts. The unsuccessful ones will get rid of themselves, and the vital ones will become part of the ecosystem.

In terms of network security, however, the use of Intel SGX is an issue. And the second point: after all, in fact, the Root Shard is the central hub. What happens if someone disables it, and who will be responsible for security in this case?

No information was found on the ICO and project tokenometrics. Judging by the answer to the request by the admin in the chatroom, ICO will not happen. The token serves to transfer value and deposit for the node. In general, the functionality is not entirely clear.

The Noosphere project team consists of 20 people and is assembled partly in Hong Kong and partly in Russia.

Gary NG is the CEO of the project who worked as managing director in little-known offices related to 3D printing as managing director and sales director. Ryder Lee is the CTO of the project who has worked for the last three years as the CTO in Gini companies (61 place in the rating of financial apps for iOS, working as an aggregator of accounts in 7 banks in Hong Kong) and Ikky (a platform for booking hotels, restaurants and doctor’s appointment in Hong Kong). Daniel Wang worked at Microsoft and Qualcomm as a cloud solution developer.

The rest of the team consists of developers, business and community managers of varying degrees of experience. There are people with good experience in the blockchain sphere.

The Noosphere project is technically interesting: each service is autonomous and can freely interact with other network participants, even if malfunctions occur as a whole, the network remains operational if the root shard is not affected.

However, there are questions about the security of this type of consensus. The role of the token in the network is not clear. There is no getting in touch with the team. There are no partnerships, there are no references in the media, there is no information on funds. In general, a typical Chinese blockchain start-up, at an early stage, is not much different from its fellows like Jura or Uranus.

Project evaluation by Tokenbox analysts: 5/10.

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