logo
Marketplace

Cypherium

Cypherium, which proposes a hybrid consensus mechanism wherein a dynamic group of replica nodes acts as validator committee to determine the validity and order of transactions within a Byzantine fault tolerance-based blockchain system.

Rating: 3.4

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
Test net


Token description
ICO date
15.12.2017 - 31.05.2018
Token price
N/A
Platform
Own blockchain
Blockchain
Own Blockchain
Token distribution date
N/A
Consensus method
POW and BFT concensus
Escrow
N/A
ICO currencies
ETH
Bounty camping
N/A
Markets
N/A
Token functions
Cryptocurrency token called "cypher/CPH", which can be transferred between accounts and used to compensate participant nodes for computations performed.
Tokens distribution
Team (35.0%)
Investors (33.0%)
Miners (32.0%)
Risks
MARKET

Cypherium, due to the lack of a marketing campaign, will have problems with rmarket acceptance. High-level competition on the market by leading technology companies t, the market players have all the resources for replicating such business model, if its market acceptance will be fully confirmed.

PRODUCT

Most solutions are only conceptually developed, i.e. there is no test net to proof concept. The product development roadmap is devoid of useful information and noted timelines.

BUSINESS MODEL
FINANCES

The Cypherium team will receive 35% of all generated tokens, and there is any binding to KPI. Due to 1 ETH = 200 cypher tokens during pre-ico and total amount of tokens the total token pool valuation around 100M ETH or $833M which is above the average valuation of the same stage companies (With an ETH price of $833).

TEAM

Blockchain specialist - Anker Chen - is not employed at Cypherium (according to LinkedIn) The amount of tokens saved for the team - 35% seems excessive The team does not have participants with successful experience in creating and scaling international business

Full analysis
Market

The market cap of cryptocurrencies went up to over $600 bn in 2017 and received the attention of the global central banks. Main factors likely to affect the future development of cryptocurrencies are, in our opinion, interventions by the government and central banks and questions on how the sector will be regulated. Also keep an eye on the growing competition between cryptocurrencies.

Product

The design goal of Cypherium focuses on achieving the apex of scalability, decentralization, and commercialization viability. Cypherium’s unique consensus mechanism provides unprecedented transaction throughput and contract execution time through PBFT, while leveraging an ASIC-resistant Proof-of-Work system for decentralized leader election. Leveraging a hybrid PBFT/PoW consensus mechanism and federated architecture, Cypherium is able to achieve unprecedented transaction throughput while preserving permissionless decentralization and integrity. The team did run test on our test net and the transaction speed is between 1000-2000 per sec. But project has a serious lack: is this still early stage of development and test net isn't available.

Business model

Cypherium VM offers light-weight sandbox environment that separates testing and production. The infrastructure comes with easy-to-use smart contract scripting, identity management, secure messaging, and additional functionalities. By providing fundamental building blocks for developers to create groundbreaking applications, and an intuitive interface for users to access these functionalities, Cypherium aim to provide a comprehensive foundation for the future of blockchain technology.

Finances

Hard cap of ICO (include pre-ico) is 33M. With an ETH price of $860, this gives a total of 29,069 eth to hit the 25m usd pre-ico cap (25m/690=29k). At a 200:1 Cypher/ETH ratio this only creates 7m Cypher sold to the public in presale + ico (36k*200=7m Cypher). That number looks a bit small for early investors. 7m Cypher is less than 10% of total Cypher in Year 1, and 11% of total circulating supply in Year 1 (65m). That’s a pretty staggering amount coins being distributed to miners.

Team

The team consists of 9 people. Cypherium is comprised of experienced technologists, visionaries, and experts possessing extensive background in cryptography, decentralized networking and software architecture.

Social networks
© ICO Scoring - ICO Analytical platform backed by investors and financial experts. All rights reserved 2018