logo
Cryptocurrency

Dora Network

Dora Network - high-performance public blockchain executing dApps with high-concurrency using Vertical Expansion, Horizontal Expansion and DVBC consensus.

Rating: 3.2

Official contacts
Location: Shanghai, China
Web-resources:   Website
Social networks:
Product source tracking: https://github.com/DoraNetwork
Details Description Risks Full analysis Team

Detailed review

Stage of product development
No prototype or document presented yet, but the team demonstrates an active development on Github
Roadmap
December, 2018
Prototype, Testing
December, 2019
Parallelized Smart Contract Processing, Consensus developed
March, 2020
Test net
June, 2020
Mainnet, Hub-Zone Chain, Cross Chain Transaction
Token description
ICO date
TBA
Token price
N/A
Platform
N/A
Hard cap
12300000
Blockchain
Dora
Token distribution date
N/A
Consensus method
Delegate Verifiable BFT
Escrow
N/A
ICO currencies
ETH
Bounty camping
N/A
Markets
N/A
Token functions
Risks
MARKET

- Fierce competition from other scalable blockchains

- The unclear need for high TPS from the demand side

- No successful projects presented even the half of the offering TPS

PRODUCT

- No prototype

- No whitepaper

- Too long roadmap

BUSINESS MODEL

- No details regarding the model and tokens

FINANCES

- Not distinguished funds on board

- No financial info available

TEAM

- The team does not have LinkedIn pages

- The team is from Cheetah Mobile - distinguished company but with no relevance to blockchain technologies

Full analysis
Market

The development of the blockchain technology has made great progress in the last few years. However, issues of transaction speed and transaction costs prevent blockchain technology from becoming mainstream. The current low capacity of the main blockchain protocols and cryptocurrencies (Bitcoin, Ethereum), more specifically 10-30 transactions per second (TPS), cannot cover the world's commerce anytime. In contrast, Visa claims to have 56,000 TPS on its network, while Alipay has achieved 200,000 peaks TPS in November 2017. The scalability problem of the current blockchain-based systems poses significant limits for their extensive applications. How to scale up blockchain TPS without compromising its security and decentralisation remains elusive. In order to solve this problem, several projects have already launched the alternative protocols that aim to significantly increase the throughput of the blockchain protocols. For instance, EOS launched its infrastructure for dApps, which Test Network can sustain over 10,000 TPS. EOS raised $197M during its ICO in June 2017 and now is the 5th largest cryptocurrency in the world by market cap. IOTA is able to process 500-800 TPS, raised $400M and now 11th by market cap in the world of cryptocurrencies. Some projects announced the development of scalable blockchain with over 1M TPS. By the way, it is still unclear whether such high TPS is demanded by users. Overall, the scalable protocols for dApss gain large public attention during token sales and have comparably high ROI. However, competition in this sphere of blockchain is more severe than in others, so it has to be taken into consideration.

Product

Dora Network is a high-performance blockchain execution of dApps with implemented Vertical Expansion (explores the parallelism between contracts and within contract in order), Horizontal Expansion (supports Multi-chain technology and Cross-chain transaction) and DVBC consensus (combines the pipeline concept, re-designs parallelized algorithm of BFT, and improves consensus speed of block). The network takes no transaction fees and is compatible with EVM to enable fast migration of existing dApps. Such technologies are projected to reach millions of TPS. No prototype has been presented yet together with any docs describing the technology in more detail. Taking this into account, Dora Network promises too ambitious project not even presenting details regarding the technology. Considering only technologies named, they may be considered as a good solution for reaching high TPS (but millions of TPS sound too overestimated). By the way, the project development is particularly open-sourced on Github. 

Business model

Token specifications and model structure are not presented.

Finances

Gossips indicate that the hardcap is 12.3M USD. Other financial information is not available. Fund invested on early stages are not well-known. Some gossips indicate, that the price is pegged to ETH rate around 200 USD.

Team

The team includes 9 members. All of them do not give their LinkedIn pages, so their website is the only source of proof - it must be noted.  Most of the team members are from Cheetah Mobile - creator to some of the most popular global mobile apps with more than 634 million monthly active users, total assets exceed 1B USD; conducted IPO in 2014, is traded on NYSE. CEO is a former senior director at Cheetah Mobile Shanghai R&D Center, PhD of Computer Science in USTC, founder of PowerMo company which was acquired by Cheetah Mobile , former senior manager at Intel and Marvell. COO is a former senior sales manager at AT&T, former marketing manager of Greater China at Fastly, MBA from San Jose State University. CTO is a former director at Cheetah Mobile, co-founder of PowerMo, Former core architect at Marvell. Other team members are senior developers from Cheetah Mobile.

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