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Internet of Things (IoT), Infrastructure, Developer Tools

Monet Network

Monet is an open network architecture for mobile blockchains on demand. It enables groups of people involved in any task or activity to form temporary networks with their mobile devices and coordinate themselves without needing trusted third parties.

Rating: 2.8

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
The product development started in early 2018. The roadmap is given for the next 2 years. Testnet is expected at the end of 2018. Mainnet planned in September 2019.


Token description
ICO date
TBA
Token price
N/A
Platform
Own platform
Blockchain
Own Blockchain
Token distribution date
N/A
Consensus method
Proof of Stake
Escrow
N/A
ICO currencies
ETH
Bounty camping
N/A
Markets
N/A
Token functions
The Tenom token will be used to incentivize validators(nodes) in the network throughout the Proof of Stake portion of Monets consensus mechanism. As mentioned earlier in the review Proof of Stake with Babble will be used in the Monet Hub. All Transactions fees within the network are paid in Tenom.
Risks
MARKET

High competition in the sphere of protocols for the sharing economy. Monet Network is not the only attempt to serve marketplaces with blockchain technology. Other solutions, such as Origin, which is built on Ethereum, are focussed on the same market niche, and count with more developers and external funding.

PRODUCT

Monet was expected to go live in June 2018 with a blockchain interface and mobile SDK. The team does not present detailed information of what was achieved so far. The roadmap is mediocre.

BUSINESS MODEL
FINANCES

No token metrics have yet been released.

TEAM

One of the co-founders does not have any work experience prior to joining Monet Network. Overal the core team members do not have vast experience before founding Monet Network. The team consists only of 3 members.

Full analysis
Market

Monet Network is entering the market of decentralized platforms for the sharing economy. The market cap of cryptocurrencies went up to over $600B during 2017 and received attention from 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. Apart from Ethereum, there are other large companies creating dApp platforms which already gained high market cap (Lisk, Waves, Stratis). That is why the competition on the market of Dapp platforms is severe and it might be hard for Monet Network to attract a significant amount of customers. The recent competitors include ShareRing and Uchain.\nMonet Network is not the only attempt to serve marketplaces with blockchain technology. Other solutions, such as Origin, which is built on Ethereum, are focussed on the same market niche, and count with more developers and external funding.

Product

MONET creates an infrastructure for distributed mobile p2p applications. Its architecture aims to power the sharing economy by bringing blockchains to mobile. MONET consists of multiple ad hoc blockchains appearing and terminating as applications\u2019 participants interact with each other. Inter-Blockchain Communication facilitates interoperability between these blockchains. The MONET Hub, being an always-on blockchain, allows distributed applications to be jump started with the use of the existing infrastructure services.\n\nTHE KEY COMPONENTS OF MONET ARCHITECTURE ARE: Multiple ephemeral blockchains dynamically formed by users with their mobile devices; Inter-Blockchain Communication, enabling these blockchains to speak to one another; MONET Hub, an always-on network, that provides optional infrastructure services to the first applications and ad hoc blockchains.\nMonet builds a free and open-source Software Development Kit (SDK) which enables developers to add blockchain consensus to their applications.\n\nThe product development started in early 2018. The roadmap is given for the next 2 years. Testnet is expected at the end of 2018.

Business model

The Tenom token will be used to incentivize validators(nodes) in the network throughout the Proof of Stake portion of Monet\u2019s consensus mechanism. As mentioned earlier in the review Proof of Stake with Babble will be used in the Monet Hub. All transactions fees within the network are paid in Tenom.

Finances

The financial metrics have not yet been released.

Team

The core team consists of 3 people. The co-founders have a background in financial mathematics and computer science. The team members have degrees from leading European and American universities, such as Bocconi, Oxford, Columbia, University of Chicago, Paris Dauphine. The team is based in London. The previous experience of the team members is not vast and includes less than 5 years of experience in small companies.

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