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Infrastructure

MANX (Macrochain)

The vision of MANX is to become a decentralized applications platform for billions of users, where individuals and Small-Medium Enterprises are empowered to develop and deploy blockchain applications with ease on a high-security, low-cost, efficient, scalable, and decentralized platform.

Rating: 3.6

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

Detailed review

Stage of product development
Currently, the project is on the proof of concept stage. The testnet is expected in March 2019. The MANX Framework will be ready by February 2020. The public chain will be released in May 2021.
Roadmap
March, 2019
Testnet
May, 2021
Mainnet
Token description
ICO date
TBA
Token price
N/A
Platform
N/A
Hard cap
30000000
Capitalization of token pool
100000000
Blockchain
Own Blockchain
Token distribution date
N/A
Consensus method
Proof of Stake
Escrow
N/A
ICO currencies
USD , ETH
Bounty camping
N/A
Markets
N/A
Token functions
The token role is unclear.
Tokens distribution
Legal (5.0%)
Core Team (15.0%)
Financing (30.0%)
Mining (20.0%)
Community and Ecosystem Development Fund (30.0%)
Risks
MARKET

- High competition in the field of scalable blockchains. MANX is relatively late in the game with quite a few projects launching their mainnets in the next few months

- After the growth of the throughput of the largest cryptocurrencies (sharding, plasma and other technologies) the attention to the later-introduced scalable blockchains may fall.

PRODUCT

- Currently, the quantum computers are far from adoption so the core product of MANX might not be demanded by the market.

- Currently, the project is on a concept stage. The Testnet is only expected in March 2019.

- The public chain launch is only expected in May 2021.

BUSINESS MODEL

- The token value added is unclear.

FINANCES

- Vesting policy has not been revealed yet.

- The company valuation at $100M seems too high.

- The use of proceeds is not given.

TEAM

- The experience of some of the team members cannot be validated.

- The team is scattered around USA, Canada, and China.

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. That is why the potential growth and community attention to MANX might be lower.

- 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

- Manx possesses 3 core technology innovations: Cross Chains, Anti-Quantum Cryptography and transactions per second. In terms of Cross chains, variables on different chains are mapped on the relay chain.

- In addition to a core chain and subchain architecture, MANX also contains a set of tools such as user-oriented IDE development tools, contract code review tools, and bytecode compilers. Users can conveniently build their own applications and deploy them by using these tools

- In terms of TPS (Transactions per second), MANX public chain will use MANX consensus. There are two situations: 1) Optimistic-case condition: the transaction can be confirmed in two rounds of voting using PBFT. The throughput can reach up to 10000 TPS. 2) Worst-case condition: consensus mechanism will switch to POS. The throughput can reach up to 1000 TPS.

- Currently, the project is on the proof of concept stage. The testnet is expected in March 2019. The MANX Framework will be ready by February 2020. The public chain will be released in May 2021.

Business model

- A Distributed Application running on a subchain can have its own token, building a closed loop token economy. When it is necessary to convert a token into fiat currency, it can be exchanged with MANX. MANX can then be exchanged for fiat currency or BTC, ETH and other mainstream currencies through the decentralized exchange provided by MANX itself. The token value added is unclear.

Finances

- MANX aims to sell 30% of its tokens for $30M hard cap. Therefore, the company valuation will be equal to $100M. The valuation seems too high. At the current market conditions, the projects of a cap over $100M are in the list of 60 largest projects. Vesting policy has not been revealed yet. The use of proceeds is not given.

Team

- The core team consists of 17 people. Most of them have a technical background and previously worked at various tech companies in China. Both of the co-founders hold PhD degrees in Information Security and Media Studies respectively. Most of the team studied at MIT at different times. Overall, the team looks solid and has previous entrepreneurial experience. The team is scattered around USA, Canada, and China.

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