Analytics

August 13

Tokenbox’s Analysis of ICO Projects: MultiVAC & UseChain

August 13

Under close attention of analysts Tokenbox got two ICO from China. What should you look for when investing?

MultiVAC (China)

MultiVAC is a growing startup from China, which sets itself the ambitious task of solving the problem of creating a secure, decentralized and scalable blockchain.

In the environment of crypto programmers, these three parameters have already been called the "impossible triangle", because of the complexity of their overlapping spheres of influence in one network.

The technology of partitioning transactions into separate parts (called sharding and implemented in Zilliqa, Quarkchain or Emotiq) partially solves this problem and, in fact, acquires a new round of development in MultiVAC, combined with the technology of randomly verified functions (Verifiable Random Functions (VRF).

Transactions and smart contracts in MultiVAC will be confirmed by randomly selected miners, while the confirmation process itself will remain the same as in bitcoin (the UTXO protocol). The main cryptocurrency is still the standard of security and decentralization, and the goal set by MultiVAC is to make transactions quick using a working bitcoin model.

The creators of the project also provided a tool that allows developers to find and choose the balance between security, scalability, and independence from other applications. Obviously, for the new blockchain hit, the first priority will be the bandwidth, and only then security and decentralization. For a closed bank vault, security will be a priority, not speed. By allowing developers to customize the parameters of their system, MultiVAC will offer a truly flexible tool that many Ethereum applications will be very likely to involve.

MultiVAC uses a new VRF model that breaks the user's transactions and nodes into random shards and uses the UTXO protocol to confirm (reach consensus) within the sharding process.

The team of the project, headed by Frank Lyu, is 80% programmers and scientists and has virtually no established marketers and PR managers. This explains the lack of marketing and advertising, but the presence of doctoral degrees as far as almost all members of the team are concerned completely makes up for the lack of HYIP and, as a consequence, investments.

The Hard Cap has not been announced. At the moment, the presale of MultiVAC tokens is happening, in which large funds and opinion leaders in the blockchain industry can participate.

In the current round, the startup has collected between $ 8 and $ 10 million in addition to the previously raised $ 5 million, distributing 1 billion MTV tokens at a price of 0.008 USD. The tokens purchased during the Pre-ICO period have a 9 month lockdown period – 25% of the tokens will be available for sale immediately, and 25% will be released every 3 months.

The MultiVAC project has no direct competitors and is headed by a strong team. On the other hand, there is slippage because of the general decline of the market. The team of Tokenbox analysts does not recommend taking part in ICO in the current market conditions.

The final evaluation of the project is 6.5 / 10.

UseChain (China)

UseChain is a new consensus mechanism that allows combining high performance and reliable data protection plus using a multi-level authentication and encryption system with technologies such as Zero Proof, Identity Virtual Machine (IVM), Identity Network Sharding (INS), Identity Transaction Sharding (ITS), Enhanced Smart Contract, etc., to create a new generation of Blockchain 3.0.

Features of Usechain:

  • improvements of performance based on hardware
  • an application for the protection of personal data
  • a system of identity and business support.

The main functions of Usechain are the voting system and the mechanism for detecting prohibited activities and their elimination. The voting system is an important component of a decentralized currency. In Usechain, all addresses are authenticated. In most cases, user identification cannot be tracked.

Usechain is the first blockchain ecosystem based on identification that has a low technical barrier and introduces the possibility of implementation into the mass market. The system has functions of a basic structure of blockchain technology, and real identification.

The total number of tokens is US $ 20,000 million. The pre-sale includes 3 stages: Cornerstone, Early Bird, and Last Call. The first two stages (Cornerstone and Early Bird) have already passed. The soft cap is 1350 BTC. The hard cap is 4500 BTC.

Distribution of tokens: 45% for sale, 20% for the community, 15% for the technical community, 15% for the core team, 5% for marketing and partners.

The team at Usechain includes 18 people, of which one is the founder and one is the co-founder.

Henry Cao is the founder and CEO of Usechain. Henry is a professor of finance at the Chung-Kong Higher School of Business, the head of the finance department, the founder of the first financial MBA program in China, a member of the American Financial Society, and the managing director of the Applied Research Laboratory of China Blockchain.

Baohong SUN, co-founder, and CSO of Usechain is a marketing professor at the Chung-Kong Higher School of Business, former chairman of the Tepper Business School.

The Usechain team has 8 advisers. Lucas LU is a senior expert at Blockchain, the founder, and CEO of 5Miles and Cybermiles (CMT), working as co-founder and technical director at Lightinthebox (LITB), GM of Mobile Taobao.

Jeff CAO is the founder of PChain. The developer of the first international patent blockchain package in China, co-founder of ChinaLedger, he is the most influential follower of blockchain in China.

Usechain's partners are Grand Shores, Funcity Capital, Newdo, Milestone, Dynamic Fintech Group, jikexueyuon.com, and others.

Summarizing our evaluation of the Usechain project, it should be noted that the field of artificial intelligence will develop in the long term and it takes time to establish the market. The team of Tokenbox analysts does not recommend participating in the ICO in the current market, but it could be viable to consider the project in the long term.

The final score is 7/10.

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