Vechain

VeChain Report – 11th Nov 2022

VeChain is a smart contract platform.

The CMP of $VET on 11th Nov is $0.02168.

What is VeChain?

VeChain is an enterprise-level blockchain network built to support both private and mass-market decentralized applications (dApps).

VeChain provides supply chain management solutions to businesses. It is best known for its enterprise supply chain product, which tracks shipping goods. 

VeChain started in 2015 as a private consortium chain, collaborating with a variety of businesses to investigate blockchain applications. With the ERC-20 token VEN, VeChain would start its shift to a public blockchain in 2017, and in 2018 it would launch its mainnet.

How does it work?

VeChain network works on a Proof of Authority (PoA) consensus mechanism to maintain the blockchain network and secure the transactions. 

In the Proof of Authority mechanism, rights to generate new blocks are awarded to nodes that have proven their authority to do so.

VeChain network has 101 Authority Masternode operators who maintain the protocol and secure the network. For becoming a Masternode, an operator has to do KYC and other requirements set by the VeChain Foundation.

How is it Unique?

The first token, VeChain (VET), is the main transactional unit used for storing and transferring value in the VeChain ecosystem, whereas VeChainThor (VTHO) is used to pay gas fees (including transaction fees and execution costs).

The near-field communication (NFC), radio frequency identification (RFID), or QR code-capable smart tags used in the VeChain ToolChain product are combined with the blockchain to track goods. The product is then tracked as it moves along the supply chain.

For example, an automobile manufacturer can use a smart tag and track the car’s movement across the nation and all information will be available to them. VeChain provides solutions in these cases where it is hard to track at scale.

Tokenomics:

The native token of the VeChain network is VET. The total supply of VET is 86 billion & ~84% of the total maximum Supply(72.51 billion) is in circulation. It has a market capitalization of $1.5 billion. The CoinMarketCap rank of the VeChain network is #31.

 

 

 

 

Competition Analysis:

VeChain vs Ethereum:

VeChain is a blockchain network that provides supply chain and smart contract solutions to enterprises. It works on the Proof of Authority mechanism. It has a transaction speed of 220 TPS.

Ethereum is a network that provides its own blockchain with its cryptocurrency Ether. It hosts decentralized applications (dApps) and was first introduced by Ethereum. Ethereum works on the Proof of Stake mechanism(Before merge it used to work on Proof of Work). Ethereum has a transaction speed of 15 TPS. 

 

Team, Media, and Community:

Sunny Lu, is a co-founder of the VeChain network and he is an IT executive who was formerly the CIO of Louis Vuitton China.

Jay Zhang is also a co-founder who now works in VeChain’s global corporate structure, governance, and financial management, previously he has worked with both Deloitte and PriceWaterhouseCoopers in the finance and risk management space.

Conclusion:

VeChain has changed the way how enterprises track and manage products and inventory. VeChain has been working to make information accessible and reduce the cost for enterprises and small businesses with the platform. It has been focusing on building an ecosystem where other businesses can also launch their dApps. Many large companies are already using the VeChain network to make their operations smoother and more efficient.

Pros:

1) Large companies like BMW and Walmart are using the VeChain network to manage their operations.

2) VeChain’s solutions are applicable across different industries.

Cons:

1) It works on Proof of Authority, so no decentralization.

2) Mostly it is built for large enterprises and many small businesses cannot take benefit of the technology.

 

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tive protocol

Injective Protocol Report- 4th Nov’22

Overview:

Injective Protocol is a Decentralized exchange (DEX).

The CMP of INJ is $2.76.

 

What is Injective Protocol?

Injective Protocol is a layer-1 blockchain network that is interoperable for building DeFi applications.

It is a decentralized exchange (DEX) that offers cross-chain margin trading, derivatives, and forex futures trading.

It has built financial infrastructures such as an on-chain decentralized exchange infrastructure and a smart contract layer with CosmWasm.

 

How does it work?

The Cosmos blockchain is the foundation for the Injective Protocol. The protocol makes use of cross-chain bridges to give traders access to cryptocurrencies on systems like Polkadot and Ethereum.

Injective Protocol does not use the automated market maker (AMM) formula, in contrast to other well-known decentralized exchanges like Uniswap to manage liquidity. 

Instead, Injective Protocol uses the order book model, which has been popular among centralized stock and cryptocurrency exchanges for years. It aspires to do this by combining the efficiency of conventional finance with the openness of decentralized exchanges.

 

How is it Unique?

With no gas costs, a user can use different dApps that were built on top of the Injective protocol.

The Cosmos SDK was used to develop Injective, which uses a Tendermint-based Proof-of-Stake consensus mechanism to achieve instant transaction finality and maintain super-fast speeds (10,000+ TPS).

Flexible and expressive programming environments driven by Golang and Rust provide an intuitive developer experience.

 


 

Tokenomics:

The native token of the Injective Protocol is INJ. The total supply of injective protocol is 100 million & ~73% of the total maximum Supply(73 Million) is in circulation. It has a market capitalization of $203 million. 

The INJ has both aspects of inflation and deflation. The INJ token has inflation of 7% and is set to fall down to 2% over time. But it also has a deflationary mechanism so the total supply may become lower than the initial supply. A weekly buyback and burn mechanism auctions off 60% of all fees from dApps built on Injective, causing the supply of INJ to rapidly decrease over time.

 

Competition Analysis:

Injective Protocol vs UniSwap:

Injective Protocol has very low gas fees and for dApps built on top of the network, the users don’t have to pay any fees to access them.

As UniSwap is built on Ethereum so it has very high gas fees.

The injective protocol uses the Proof of Stake mechanism and UniSwap used to work on the Proof of Work mechanism(As for now Ethereum has shifted to Proof of Stake but till now it used to work on the Proof of Work mechanism).

 

Team, Media, and Community:

Injective Labs has built injective protocol and Eric Chen is the co-founder of Injective Labs. He has worked as a cryptographic researcher and as a trader at prominent companies such as 0x, ChainLink, and Cosmos.

Albert Chon is the Chief Technology Officer of Injective Labs. He graduated with a Bachelor’s and Master’s degree in computer science from Stanford University and was a software engineer at tech giant Amazon.

 

Conclusion:

With the purpose of developing a free and more inclusive financial system, the Injective Protocol is leading the way in a new decentralized economy. With the help of a solution developed by Injective, cryptocurrency exchanges may now function as a decentralized platform, providing customers and their community with the much-needed value capture in the exchange market. The exchange model that Injective Protocol is creating could revolutionize the market as we now know it.

Pros:

1) Injective protocol has very low gas fees.

2) It provides cross-chain functionality to its users.

Cons:

1) The Team and the ecosystem developers own a large part of the network which doesn’t make it a decentralized project.

2) Although Injective protocol had promised zero gas fees and it charges an exchange fee of 0.1 percent for makers and 0.2 percent for takers.

 

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aptos main

Aptos report – 28th October’22

Overview:

Aptos is an efficient smart contract blockchain network.

The CMP of $APT on 28th Oct is $8.08.

 

Origin of Aptos:

The year 2019 saw Meta (Facebook at the time) developing their own blockchain initiative called Libra, which was afterward renamed, Diem. 

The software giant decided to shelve the project in response to pressure from government regulators (and a considerable amount of criticism from the crypto community). 

 

What is Aptos?

After Meta stopped working on a blockchain project, few employees understood the power of blockchain technology. So they launched Aptos mainnet on 17th October 2022.

Mainnet is a term used to describe a working, fully-operational blockchain.

Aptos is a Layer 1 blockchain that makes use of a programming language called Move,  a Rust-based programming language developed by Meta. Move language helps in fast and secure transaction execution.

 

How does it work?

Smart contracts are handled effectively by an engine made possible by block-STM technology.

The majority of blockchains, especially the most popular ones like Bitcoin and Ethereum, carry out transactions and smart contracts sequentially or demand a substantial parallel workload for better performance, which uses a lot of power. 

Since a single failed transaction won’t slow down the entire chain, Aptos is different from other blockchains. Instead, every transaction is handled simultaneously and then validated. Failures are abandoned and re-performed.

 

How is it Unique?

The goal of Aptos is to create a blockchain that will enable widespread adoption of web3 and enable a community of decentralized applications to address actual user issues. 

By offering a flexible and modular blockchain architecture, Aptos want to enhance the state-of-the-art in blockchain reliability, safety, and performance.

Aptos has claimed that it has an extremely high throughput with 1,30,000 TPS. The blockchain network allows the storage of massive datasets in tables.

 

Tokenomics:

The native token of the Aptos network is APT. The current supply of APT is 130 million & details regarding the total maximum Supply aren’t available publicly. It has a total market capitalization of $1 billion. The current coinmarketcap rank of the Aptos network is #50.

          Aptos token supply is to be released over the next ten years.

 

Competition Analysis:

Solana, a high-performance driven, Layer 1 blockchain network is one of the Aptos blockchain’s key rivals. Since both Aptos and Solana rely on engines that can do computations in parallel, their speeds have been comparable thus far.

The Aptos blockchain, on the other hand, appears to be more reliable when compared to the Solana blockchain. With noteworthy outages and downgrades, Solana has a history of failure.

The network of the Aptos blockchain is made more resilient by adding redundancy

 

Team, Media, and Community:

Mo Shaikh, the CEO, and Avery Ching, the CTO, both former Meta employees with years of expertise as senior developers and engineers in the blockchain sector, co-founded Aptos.

A battle-tested team of PhDs, researchers, engineers, designers, and strategists.  They are Diem’s original designers and creators.

 

Conclusion:

Aptos wants to enable the shift from web 2.0 to web 3.0 by making the network more and more efficient. Since Ethereum can only perform 30 transactions per second which is very low for web 3.0 adoption. So a team of ex-meta employees is trying to make a difference with efficient technology like parallel transactions and Move language. To accelerate the pace of innovation Aptos took funding of around $150 million in Series A from FTX ventures and also received $200 million in funding from a16z, Tiger Global, and many more. It has even taken an undisclosed amount of funding from Binance labs.

Pros:

1) Aptos has the best technology where its transactions are processed parallelly and then they are validated.

2) The team has previous experience working with Meta on project Diem and they have also hired a few people who have worked with Solana.

Cons:

1) There is no decentralization in the project and it is majorly owned by Venture Capitalists.

2) Although, after launching Aptos mainnet on the 17th of October the network was only processing around four transactions per second which is way lower than claimed 130k TPS.

 

 

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quant img

Quant Report – 21st October’22

Quant is a decentralized interoperable blockchain network.

The CMP of $QNT on 21st Oct is $170.80.

 

The Problem Statement:

There are over 10,000 cryptocurrencies and they have been introduced on various blockchain networks since the creation of Bitcoin. Even if blockchain technology has come a long way since the first one, there are still a lot of problems that affect it today. 

The lack of interoperability between blockchains is regularly brought up.

The operating system of these blockchain networks is challenging to deal with due to its complex nature and this is not accelerating the progress in this area. 

Developers who create the software architecture and companies using blockchains are both concerned about this.

So let us understand how Quant is trying to solve this problem.

 

What is Quant?

Quant integrates several blockchains with enterprise applications without the need for new infrastructure. It is a plug-and-play solution.

Any blockchain-based project can access any other blockchains through Overledger, which was created to serve as a gateway. It also functions to link one application to other applications within the Ethereum blockchain ecosystem. 

Quant Network enables the development of multi-chain applications, which let decentralised applications run concurrently on several blockchains.

Interoperability across numerous blockchains is made possible through Overledger.

 

How does it work?

The Overledger Network and Overledger OS make up the Quant network.

Users can build and access multi-chain apps using the patented technology known as the Overledger OS, which is not open source. 

Developers and businesses that use the Quant Network make up the Overledger Network. They pay a yearly licencing fee to use the technology here. On the Overledger Network Marketplace, users may also sell the mApps and data they have produced.

 

How is it Unique?

Quant makes use of the Ethereum ecosystem’s security and interoperability. Ethereum’s blockchain has a wider range of applications than the Bitcoin blockchain, which is more concerned with giving users a mechanism to transfer money. 

Quant offers various services, including DEXs, DeFi, and blockchain games. 

dApps can interact with each other at different levels thanks to Quant’s several layers. In addition to an application for exchanging identical messages connected to other apps, Quant features many layers for transactions, messaging, filtering, and ordering.

Tokenomics:

The native token of the Quant network is $QNT. The total maximum supply of QNT is 14.6 million. Currently, around 12 million(83%) QNT tokens are in circulation. It has a market capitalization of $2 billion. The current ranking of QNT tokens on CoinMarketCap is #30. 

 

 

 

Competition Analysis:

There are no networks in close competition as the Quant Network provides a niche service & it is the only network working for interoperability across different blockchain networks. 

 

Team, Media and Community:

Gilbert Verdian, one of the founders of the Quant network. Verdian has been the CISO of Vocalink, a Mastercard card company, the CIO of NSW Ambulance, the CISO of eHealth NSW, and the security lead of the Ministry of Justice, UK.

Dr Paolo Tasca is also a co-founder of Quant network and he is an entrepreneur, who has served as the special advisor on blockchain technologies for the EU Parliament, the UN and many central banks worldwide.

It has 107.8k followers on Twitter, 13.4k followers on Instagram and it has 14.9k members on Reddit.

 

Conclusion:

Quant is almost a monopoly in this space and it has been able to achieve immense success in just a short time as today it is ranked 30th according to market capitalisation by CoinMarketCap. Quant network has been enabling developers to build and access multichain dApps. There are many distinct use cases for the Quant network, including logistics solutions, the payments sector, and financial markets.

Pros:

1) Quant users can connect to any kind of digital ledger system.

2) There is no requirement for a user to have prior knowledge of cryptography or programming.

Cons:

1) As many centralized exchanges deal in interoperability space, and as they have your private keys, there’s a risk of theft.

2) Quant has been doing well till now, but there’s uncertainty and doubt whether it will be able to work well with traditional finance.

 

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internet computer

Internet Computer Report – 14th October’22

Internet Computer is a decentralized blockchain network.

The CMP of ICP on 14th Oct is $5.01.

 

Problem statement:

If one wants to build a decentralized version of mega-applications like Uber, Facebook, etc. Then sadly it isn’t possible because it is difficult to receive and transfer data at this scale with the current blockchain infrastructure.

Security is another problem where many companies store their data in cloud servers that are owned by a few centralized organizations.

So let us understand there’s someone in the market that is trying to solve these issues.

 

What is Internet Computer network?

Internet Computer is a decentralized blockchain network and was officially launched by a non-profit DFINITY Foundation in May 2021.

Internet Computer helps in creating and hosting dApps for developers who want to build on a decentralized network.

It has the potential to challenge Amazon, Google, etc the tech giants as these companies provide centralized cloud services and, Internet Computer networks can lead to revolutionizing decentralized applications.

 

How does it work?

Many blockchain networks rely on Proof of Work, where few miners solve complex puzzles and add blocks to the network.

But the Internet computer network works on Proof of stake in which users with tokens are given a chance of being selected to validate blocks of transactions and in return get rewarded.

The only option a developer had earlier was to create an application on the internet with cloud service providers but the Internet Computer has helped developers create a decentralized version that is running across different nodes.

 

How is it Unique?

Many cryptocurrencies can take up to 30 minutes for a transaction, like Bitcoin takes around 10 minutes, etc whereas Internet Computer can do transactions in 1 to 2 seconds.

Another benefit is that there is no centralized server that owns the data and the nodes that run the Internet Computer are distributed across the world.

Anyone can create their software and run it on the internet. For example, a developer can create a DeFi application on the Internet Computer Network.

 

Tokenomics:

The native token of the Internet Computer network is ICP. There is no data publicly available regarding the total maximum supply of ICP. It has both inflationary and deflationary aspects. The inflation starts at 10% and it stabilizes at 5% over the years. The ICP holders are rewarded with new ICP tokens for giving votes, and ICP is also burned after it’s used to power transactions and computing processes. Currently, there are around 26.8 million ICP tokens in circulation. It has a market capitalization of $1.3 billion. The current ranking of ICP token on CoinMarketCap is #39. 

 

Competition Analysis:

Internet Computer vs Ethereum:

Internet Computers can carry out unlimited Transactions per second(TPS). But Ethereum has a limit of 15 TPS(Although it’s been said that post-merge Ethereum has the capability to perform 100,000 TPS, but still Internet Computer has no limits).

Ethereum can have transaction fees of up to $30 and there is a fixed fee for Internet computers which is 0.0001 ICP.

 

 

Team, Media and Community:

The Internet Computer was launched by a not-for-profit DFINITY Foundation, an organization based in Zurich, Switzerland.

Jan Camenisch, PhD is the CTO of DFINITY and he is a world-renowned cryptographer and privacy researcher, he has led IBM’s Cryptography research department for over 19 years.

Likewise, DFINITY is a large organization that has the world’s top cryptographers and over 200 patents.

 

Conclusion:

Internet computer has paved the way and shown the world that there’s an alternative to the current cloud system and it has helped many entrepreneurs and developer build their dApps which will benefit the whole web 3.0 ecosystem. Regarding their future plans, DFINITY will be rolling out a direct integration of Bitcoin where smart contracts on the Internet Computer can hold, send and receive Bitcoin, without the need for a private key, this will be a huge milestone and could be a game changer in the field.

Pros: 

1) It is affordable as decentralized data storage’s cost on the Internet Computer is $0.46 per 1 GB / month or $5 per 1 GB / year.

2) There is a strong team behind the Internet computer.

Cons:

1) ICP has seen large downsides in its initial days, so it is extremely volatile.

2) There is uncertainty regarding its decentralization and permissionless transactions.

 

 

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