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Infrastructure, Cryptocurrency

Intervalue

Intervalue is blockchain 4.0 project. It is the private blockchain, which could create next generation global value internet, infrastructure to support building industry chains and scalable DApp development platform. The project is going to show more than 1 mln TPS.

Rating: 3.4

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

Detailed review

Stage of product development
Beta-vesion of wallet product is available for any platform (Win, MacOS, iOS, Android). The InterValue1.0 wallet client is based on the test network and is only used as a demo. InterValue2.0 is expected to be released in July and will use the newly designed HashNet consensus mechanism. The final version of the product would be released in early 2019.


Token description
ICO date
TBA
Token price
N/A
Platform
N/A
Hard cap
2500000
Capitalization of token pool
100000000
Blockchain
Own
Token distribution date
N/A
Consensus method
Combination of HashNet and BA-VRF.
Escrow
N/A
ICO currencies
Bounty camping
N/A
Markets
N/A
Token functions
The INVE tokens stimulates the community to maintain the public Blockchain of Intervalue and develop DApps. It is base currency for Intervalue ecosystem.
Tokens distribution
Private Sale (9.0%)
Foundation (26.0%)
Promotion (2.0%)
Technical team (3.0%)
Mining (60.0%)
Risks
MARKET

The blockchain market is extremely competitive nowadays.

PRODUCT

It is strange that all publically available code is written on JavaScript.

BUSINESS MODEL

There is no difference with current market leaders.

FINANCES

Top-tier funds are not involved in project. Too high share of tokens for foundation.

TEAM

CEO and CTO has mainly scientific background, and have not built any company before. No publically available proof of team’s experience.

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. Intervalue promises to show 1 mln TPS, however, it will happen only in 2019. That is why the potential growth and community attention to Intervalue might be lower. Overall, the scalable protocols for dApss gain large public attention during token sales and have comparably high ROI's. However, competition in this sphere of blockchain is fierce, so it has to be taken into consideration. Moreover, classical blockchains could creates new versions with substantially higher TPS (Sharding, Plasma, State Channels, Lightning Network), as a result, the unique value of Intervalue would be diluted.

Product

Intervalue is a new generation of blockchains that solves main problems of early-versions of blockchain as scalability, security and DApp support. The project is building a global value Internet, and providing a basic network for various value transmission applications. The project implements cutting-age technology to it’s blockchain. It has Hashnet Data Structure. It is new data structure which is designed based on DAG, significantly improves storage utilization, TPS and security of the underlying data storage. It has a double-layer consensus mechanism implemented with HashNet and BA-VRF promises higher concurrency and lower latency of transaction than Hashgraph. Moreover, it leveraging on super node relaying and sharding technology, InterValue not only be able to communicate with other chains, but also can provide transparent operations across multiple chains.\nInterValue provides common interfaces for industrial applications in terms of JSON-RPC, such as payment, data transmission, data search, and contract invocation. It supports both declarative contract and programming contract. The new virtual machine Moses is designed, making InterValue support issuance of third party asserts securely. Using Tor-like P2P anonymity, zero knowledge proof and ring signature, InterValue provides a cost-effective high safety for communication and trading anonymity, which meets privacy requirements in various application. A technology combining NTRUsign signature and Keccak-512 hash algorithm reduces threat of rapid development of quantum computing and popularization of quantum computers.\nVersion 1.0 of product has been released. Version 2.0 is coming in July. Fully functional product would be ready in early 2019. The project is highly active on GitHub. It is possible to explore their code.

Business model

The project is going to solve all main issues of current blockchains. The INVE tokens would be used as main currency of the project. It stimulates the community to maintain the public Blockchain of Intervalue and develop DApps. Also, it helps to transfer value within the system. Intervalue ecosystem could have many applications in real world. The industrial DApp development is one of the main goal of the project. The team proposes that the transaction fee will be low(the website claims that the size of the fee will be ~$0). For comparison, the average transaction fee for Bitcoin is ~$25-30, ~$3 for Ethereum, and ~$0.05 for EOS. Most part of the tokens, 6 bln INVE, would be issued later by miners. It would be divided in 6 batches by 1 bln tokens. Mining reward would decrease batch by batch. All-in-all, Intervalue has typical model for infrastructure projects.

Finances

The structure of proposed deal is a bit unusual. There would not be an ICO. Only private sale is available for investors. Only 9% of all tokens would be distributed during private sale. Token price is 0.00005 ETH per INVE Token. Total tokens is equal 10 bln INVE, for private sale is available 900 mln tokens. However, 60% of tokens is reserved for mining. As a result, hard cap is 45 000 ETH, which is $22,5 mln at current price $500 per ETH. And cap of available tokens is 200k ETH, or nearly 100 mln $. There is kind of flipper protection, 20% of privately-owned Tokens will be unlocked 1 month after token is listed in exchanges. The rest will be unlocked for 20% each quarter. 100% will be unlocked before Sept 30,2019. It is not clear how the funds will be spent, only general words about it. \nIt is mentioned, that Intervalue has four funds in strategic partners: Rootscap, Benrui Capital, Whales Capital, Obsidian Capital. It is medium ranged funds from China and South Africa. Also, Intervalue has Crypto Laboratory in strategic partners, which is London-based blockchain investment research & advisory group. All-in-all it is relatively weak partners and they could not prove high perspectives of the project.\nAs a result, project does not have strong financial side. Share of foundation is too high, structure is unusual, hard cap is high.

Team

The project has strong team. Nowadays it has more than 60 members. Founders team is well-experienced professionals. Barton Chao – CEO of InterValue – has expertise in blockchain, senior expert in blockchain, network security, crypto industry, and peer-to-peer networks. He has been involved in blockchain programming since 2009. Leo Cheung – CTO of the project – has announced 30 essays, 4 projects, and participated in 10 scientific research projects. He has scholarship from the University of Science and Technology of Hong Kong. His main areas of research are P2P networks, big data, deep learning. Participated in the design of P2P system structure. Deeply understands of dual partition structure in the P2P network model. Scott Guo is COO of InterValue. He worked for VIEDA, Red Net, Alibaba and Tencent as marketing director. Also, he has 14-year-experience in operating Internet services and products. Ethan Zhou is CMO. He is very early bitcoin holder, started studying Bitcoin from 2009 and has focused on blockchain products so far. Participated in developing successful brand for blockchain products including Dapp, cryptocurrency and exchange. We believe, that such team is able to turn their ideas into reality, however it is not the best possible team.

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