Arcblock ICO review – Building blockchain 3.0 for the future.
2017 has been the year of awareness for blockchain technology, the total cryptocurrency market cap started the year at 15 billion usd and peak at 800 billion usd, going up 53x over the course of the year!! More and more people are becoming aware of bitcoin everyday, bitcoin is considered the grandfather of blockchain technology. Governments are starting to pay attention and are even considering or have created their own cryptocurrency (Venezula and the petro) and more CEOs of big companies (Jamie diamond/ Warren buffet)/celebs are talking about the pro and cons of Bitcoin/blockchain everyday.
Bitcoin is the first public blockchain (1.0 blockchain) created, Another popular blockchain that came after bitcoin was ethereum, the most commonly used public blockchain to date. Ethereum relies on similar Proof of work algorithm like bitcoin with the addition of smart contracts (2.0 blockchain).
Both blockchains are currently experiencing problems with the daily increase of new users using them, both blockchains were not initially designed to handle the amount of transactions sent per second today. Bitcoin in its current state can only process up to 7 transactions per second and ethereum is better at 20 transactions per second but no where near enough, currently due to the overwhelming demand transactions on both blockchains are slow and costly . It can cost above $50 to send one transaction on the bitcoin network and takes 2–3 hours to confirm a transaction, ethereum is also backlogged with transactions taking 30 minutes to do a transaction and costing increasing amount of ‘gas’ (fees) to process compared to when there were alot less users.
What is ArcBlock?
Arcblock is an ambitious project which aims to build and introduce us to a 3.0 blockchain era. It has all the above features of 1.0 and 2.0 blockchains along with.
- Cloud node - design to run ontop of cloud services, it can run on virtual nodes comprised of one or more virtual machines, or a group of cloud services working together as a computing environment.
- Open chain access – Cross chain compatability with ethereum, bitcoin, hyperledger etc. using ‘chain adaptors’.
- Blocklet – The core of the blockchain, The ArcBlock platform is built on a series of Blocklets which enables communication with the underlying blockchain to client side applications/software.
Arcblock is a self evolving ecosystem, a blockchain which constantly evolves to met the needs of the community, Arcblock is an economy driven by incentives that encourage the blockchain community to work together to build a better ecosystem.
Why is Arcblock ico the best ico to invest in??
All the problems Arcblock aim to solve have real world problems with blockchain currently. Scalability(>100,000 transaction per second), ease of use, cross chain communication and flexibility/lack of features.
Token metrics and market cap
186,000,000 Tokens are to be created, this is a fixed supply and no additional tokens will be created. $47 million dollars will be sold in the upcoming presale and main sale. 45% of tokens will be sold in the ico at the cost of apx $0.63 per token.
Tokens are designed as a general purpose token that can be used in different scenarios covering the cost of using the Arcblock system. For example, a cloud computing service, the ARC is a utility token for paying the cost associated with using the service.
Personal price prediction as the market of cryptocurrency grows and reaches 2 trillion dollars in the future (1/5th the size of the dotcome bubble),
I expect Arcblock valuation to grow at alot faster then the rate of the overall market, Blockchain 3.0 is definately needed in order to make blockchain more widestream. In my personal opinion I could see this near the valuation of Neo/Icon/Cadano. I personal think Arcblock market cap to reach 6 billion at least by the end of the year. This would give a x12 return on your investment as an conservative estimation. Very few companies in traditional markets would be able to give you that kind of return in such a short time frame, Gartner research rates the cryptocurrency market in the innovation/technology trigger phase and we will experience a massive growth in interest in a very short time frame.
Robert Mao: Worked for 3 years as an microsoft engineer, experienced programmer who has co-founded and ran pixomobile for 5 years.
Flavien Charlon: Also worked for micosoft for 4 years, experience with microsoft azure(cloud system). Co-founded coinprism one of the earliest blockchain start ups.
Jean Chen : Experienced marketer, worked alot in chinese markets with idriver.media and cyzone.cn, essential to spread ArcBlock popularity across the china and then the world!
Joe Wallin: Experience corporate laywer, based in seattle, provides much needed legal guidance and framework to enable mass adoption of ArcBlock
Overall I think the team is very strong filled with all-stars, well poised to carry their vision forward.
TOKEN SALE: 3 FEB – 12 FEB
- Ticker: ABT
- Token type: ERC20
- ICO Token Price: 1 ABT = 0.54 USD (0.00053 ETH)
- Fundraising Goal: 45,000,000 USD
- Total Tokens: 186,000,000
- Available for Token Sale: 45%
- Softcap: 12000 ETH
- Hardcap: 37500 ETH + 6M CMT
For more info
- Website: https://arcblock.io/
- WhitePaper https://www.arcblock.io/file/whitepaper/WhitePaperEnV2_en-US.pdf?v=4
- [ANN] thread: http://bit.ly/ABTANN
- Twitter https://twitter.com/ArcBlock_io
- Instgram https://www.instagram.com/arcblock/
- Facebook https://www.facebook.com/arcblock.io/
- Telegram https://t.me/ArcBlock
- LinkedIn https://www.linkedin.com/company/18355951/
- Reddit https://www.reddit.com/r/arcblock/
- Medium https://medium.com/arcblock
- Author https://bitcointalk.org/index.php?action=profile;u=1282539