PChain ICO Review And PCH Token Analysis
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PChain ICO Overview
The PChain ICO and PCH Token offer a multi-chain system designed to address the dual issues of scalability and interoperability. Toward the goal of maximizing versatility, the PChain protocol leverages features like side-chain architecture, cross-chain transactions and a smart contract data oracle. PChain is also the first multi-chain solution to be EVM-compatible.
With their high-performance, all-purpose concept, PChain has laid out a pathway toward a new protocol with the potential to support the deployment of large-scale dApps.
PChain ICO Value Proposition
The architecture of PChain will employ a number of mechanisms to achieve the vision of a highly interoperable, scalable blockchain solution. The multi-chain structure allows for dapps to operate on their own side-chains, completely independent from one another. This structure ensures that an overload on one chain does not affect the performance of any other chain in the system.
While the side-chains are separate, they are still capable of interacting and transacting if necessary. Cross-chain invocations and transactions allow for 1) exchange between PCH and any other supported cryptocurrency 2) use of other currencies to fuel transactions, simplifying the exchange of cryptocurrency and digital assets.
Initially, PChain will support ERC20 and BCH tokens to directly invoke smart contracts. Finally, the cross-chain architecture also allows for transactions between disparate side-chains on the PChain protocol itself.
Another core feature deployed by PChain is the Oracle. The Oracle feature provides a means for migrating data onto the chain into smart contracts. A core component of the Oracle designed to ease the onboarding of information is called Smart Data.
The purpose of the Smart Data feature is to filter and sort information for the Oracle. Smart Data adds to the value of building dApps on PChain by streamlining the combination of blockchain with Big Data and AI.
PCH is the underlying means of transacting value and rewards on the protocol. PCH will first be released as an ERC20 token.
Basic Structure of PChain
PChain ICO Team
Feng Cao (Founder) – Feng Cao spent 9 years with IBM, rising the ranks to Senior Staff Researcher. He is the Co-founder and CTO of FinChain, an enterprise that builds blockchain solutions for financial companies. Feng Cao has also contributed to the blockchain community in China through his role as Co-founder of ChinaLedger, a leading blockchain alliance. He is also working with the China Federation of Logistics and Purchasing to encourage the use of distributed ledger technology for supply-chain management.
Steven LV (CTO) – Steven has 10 years of leadership experience as a CTO and Senior Software Engineer. In his last position before PChain he served as CTO of blockchain solutions company, Shanghai Wanchain (not to be confused with the protocol Wanchain). He holds a Master of Computer Science from Tsinghua University.
Frank Ma (Lead Software Developer) – Frank Ma has 4 years of experience as Senior Software Development Engineer with SAP. He has an additional 7 years experience as a Software Development Engineer with SAP subsidiary, Sybase. He holds a Master of Computer Science from Xi’an Jiaotong University.
Kevin Zheng (Data Management): Kevin Zheng is a Full Professor of Computer Science at the University of Electronic Science and Technology of China. He holds a PhD in Computer Science from the University of Queensland. His website displays an impressive track record of accomplishments in the realm of data management research, having published over 100 peer-reviewed papers on Big Data and AI.
Additional information on the rest of the team can be found on the PChain website.
PChain ICO Strengths and Opportunities
PChain’s concept of an EVM-compatible, multi-chain protocol is a significant strength of the project. The protocol uses Solidity and EVM for smart contracts both on the mainchain and sidechains. EVM support allows for migration of existing dApps from the Ethereum network to take advantage of the higher versatility that a multi-chain system offers.
Developers can also more easily transition toward building dApps specifically for PChain using the same coding language in which they are already proficient.
PChain have several institutional partnerships, including one with the China Federation of Logistics and Purchasing (CFLP). The CFLP is a government-mandated consortium of industry players that share information on new tech applications for the logistics sector. While not an enterprise partnership in and of itself, the CFLP could provide one valuable channel for connecting with large enterprises to pilot PChain.
PChain ICO Weaknesses and Threats
Institutional partners aside, PChain has yet to announce any official enterprise partnerships, though they are ostensibly in the works.
While Feng Cao’s stature as a go-to for blockchain solutions appears promising, nothing can be taken for granted until enterprise partnerships are officially announced.
Furthermore, for protocols an ecosystem roadmap is requisite for attracting both interest from enterprises and that of developers to build dApps. PChain have made very little information available as to what their plans are for building a thriving ecosystem.
Partnerships are much more likely when a project has already showcased the results of their product development efforts, at whatever stage they might be in. Although statements have been made by the team that development of the prototype is underway, we have no evidence to corroborate this.
When it comes to the product roadmap, PChain are currently in the beginning of what they call the “Dewdrop” stage. In 7 months time from publishing the white paper, the roadmap indicates a test net of the mainchain will be online.
The white paper was published on March 1st, 2018, so the scheduled completion of Dewdrop should be in October. At +12 months after the white paper release (March 2019), PChain aim to launch the mainnet.
While PChain is at present the only EVM-compatible, multi-chain protocol, a year is plenty of time in the crypto world for contenders to join in.
The Verdict on PChain
Even with a CEO who has prior experience building blockchain products, the absence of a prototype is a concern we have with the PChain ICO.
As a concept, the protocol is impressive and the credentials of the team instill a degree of confidence in their ability to deliver.
However, without any enterprise partnerships, business development strategy or prototype product, we’re left with the quality of the team, concept and community to make a decision.
Learn more about the PChain ICO from our Telegram Community by clicking here.
As a Top 10% rated ICO, we will look to make a small bet on the PChain ICO (PCH Token).
We have rated hundreds of projects to unearth ICOs in which members of our team intend to invest.
We won’t often go into further depth on projects that we don’t consider as candidates for our investments after the initial rating process, which is why you will usually see our stamp on our detailed ICO reviews – they are the best we have found. However, on occasion, we might also rate a well-hyped project that does not meet our personal investing criteria. Please see our detailed disclaimer to the right (on desktops) or below (on other devices).
The Crypto Briefing Top 10 stamp is awarded to ICO projects that we rate in the top 10% of all projects.
PCHAIN ICO REVIEW SCORES
SUMMARY
The PChain ICO (PCH Token) looks to create a scalable and interoperable blockchain that will allow distributed applications (dApps) to operate independently of one another on discrete sidechains. Their ‘Smart Data’ concept is designed to integrate the main chain with Big Data and AI – a notably heavy lift in blockchain tech – while streamlining access to such data for dApps. While we see great value in the concept and team, the lack of partnerships, MVP, and any GitHub activity is concerning.
Founding Team……………………….8.6
Product…………………………………..4.2
Token Utility…………………………..8.8
Market…………………………………..9.2
Competition…………………………..6.3
Timing……………………………………8.7
Progress To Date……………………3.9
Community Support & Hype…..6.1
Price & Token Distribution……..6.3
Communication……………………..10.0
FINAL SCORE……………………….7.2
UPSIDES
- Founder has previous experience building blockchain products
- Excellent protocol concept
- Generating significant hype
DOWNSIDES
- No information available demonstrating product progress
- Roadmap for building and scaling ecosystem is absent
- No partnerships with enterprise clients
Today’s Date: 4/20/18
Project Name: PChain
Token Symbol: PCH
Website: https://PChain.org/
White Paper: PChain White Paper
Crowdsale Hard Cap: 50k ETH ($25 million at $500 USD per ETH)
Total Supply: 2,100,000,000
Token Distribution: 35% to crowdsale, 25% to team and early contributors, 25% for community building, 15% for mining
Price per Token: TBA
Fully-diluted Market Cap (at crowdsale price): $70 million (At current price of ETH)
Accepted Payments: ETH
Countries Excluded: China, US, Singapore
Bonus Structure: N/A
Presale Terms: N/A
Whitelist: Register at https://PChain.org/
Important Dates: TBA
Expected Token Release: TBA
Logo looks like: A croissant (just checking to see if you’re reading).
Additional Information: https://t.me/PChain_org
ICO Review Disclaimer
The team at Crypto Briefing analyzes an initial coin offering (ICO) against ten criteria, as shown above. These criteria are not, however, weighted evenly – our proprietary rating system attributes different degrees of importance to each of the criteria, based on our experience of how directly they can lead to the success of the ICO in question, and its investors.
Crypto Briefing provides general information about cryptocurrency news, ICOs, and blockchain technology. The information on this website (including any websites or files that may be linked or otherwise accessed through this website) is provided solely as general information to the public. We do not give personalized investment advice or other financial advice.
Decentral Media LLC, the publisher of Crypto Briefing, is not an investment advisor and does not offer or provide investment advice or other financial advice. Accordingly, nothing on this website constitutes, or should be relied on as, investment advice or financial advice of any kind. Specifically, none of the information on this website constitutes, or should be relied on as, a suggestion, offer, or other solicitation to engage in, or refrain from engaging in, any purchase, sale, or any other any investment-related activity with respect to any ICO or other transaction.
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Founding Team
This category accounts for the leaders, developers, and advisors.
Poor quality, weak, or inexperienced leadership can doom a project from the outset. Advisors who serve only to pad their own resumes and who have ill-defined roles can be concerning. But great leadership, with relevant industry experience and contacts, can make the difference between a successful and profitable ICO, and a flub.
If you don’t have a team willing and able to build the thing, it won’t matter who is at the helm. Good talent is hard to find. Developer profiles should be scrutinized to ensure that they have a proven history of working in a field where they should be able to succeed.
Product
What is the technology behind this ICO, what product are they creating, and is it new, innovative, different – and needed?
The IOTA project is a spectacular example of engineers run amok. The technology described or in use must be maintainable, achievable, and realistic, otherwise the risk of it never coming into existence is incredibly high.
Token Utility
Tokens which have no actual use case are probably the worst off, although speculation can still make them have some form of value.
The best tokens we review are the ones that have a forced use case – you must have this token to play in some game that you will probably desire to play in. The very best utility tokens are the ones which put the token holder in the position of supplying tokens to businesses who would be able to effectively make use of the platforms in question.
Market
There doesn’t have to be a market in order for an ICO to score well in this category – but if it intends to create one, the argument has to be extremely compelling.
If there is an existing market, questions here involve whether it is ripe for disruption, whether the technology enables something better, cheaper, or faster (for example) than existing solutions, and whether the market is historically amenable to new ideas.
Competition
Most ideas have several implementations. If there are others in the same field, the analyst needs to ensure that the others don’t have obvious advantages over the company in question.
Moreover, this is the place where the analyst should identify any potential weaknesses in the company’s position moving forward. For instance, a fundamental weakness in the STORJ system is that the token is not required for purchasing storage.
Timing
With many ICO ideas, the timing may be too late or too early. It’s important for the analyst to consider how much demand there is for the product in question. While the IPO boom funded a lot of great ideas that eventually did come to fruition, a good analyst would recognize when an idea is too early, too late, or just right.
Progress To Date
Some of the least compelling ICO propositions are those that claim their founders will achieve some far-off goal, sometime in the future, just so long as they have your cash with which to do it.
More interesting (usually) is the ICO that seeks to further some progress along the path to success, and which has a clearly-identified roadmap with achievable and reasonable milestones along the way. Founders who are already partially-invested in their products are generally more invested in their futures.
Community Support & Hype
Having a strong community is one of the fundamental building blocks of any strong blockchain project. It is important that the project demonstrates early on that it is able to generate and build a strong and empowered support base.
The ICO marketplace is becoming more crowded and more competitive. While in the past it was enough to merely announce an offering, today’s successful ICO’s work hard to build awareness and excitement around their offering.
Price & Token Distribution
One of the biggest factors weighing any analysis is price. The lower the price the more there is to gain. But too low of a price may result in an under capitalized project. It is therefore important to evaluate price relative to the individual project, its maturity and the market it is going after.
The total supply of tokens should also be justified by the needs of the project. Issuing a billion tokens for no reason will do nobody any good.
Communication
Communication is key. The success of a project is strongly tied to the project leaders’ ability to communicate their goals and achievements.
Things don’t always go as planned but addressing issues and keeping the community and investors in the loop can make or break a project.
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