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Infrastructure

Ncent Labs

nCent develops an incentive decentralized protocol for incentive networks.

Rating: 3.4

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

Detailed review

Stage of product development
The project was founded in January 2018. The GItHub was created in October 2017, the activity is quite high. The current stage of development is unclear. Beta version of the protocol is unavailable.


Token description
ICO date
TBA
Token price
N/A
Platform
Unclear
Blockchain
Own blockchain
Token distribution date
N/A
Consensus method
Proof of Stake
Escrow
N/A
ICO currencies
Bounty camping
N/A
Markets
N/A
Token functions
Incentivizing functionality. nCent token will be used to encourage engagement incentives in different scenarios.
Risks
MARKET

Huge competition in the industry of incentivization protocols.

PRODUCT

Beta version of the protocol is unavailable. The current stage of development is unclear.

BUSINESS MODEL
FINANCES

The token metrics have not been announced yet.

TEAM

The founders work experience cannot be validated on Linkedin. The core software development team consists of intern students.

Full analysis
Market

Ncent Labs is entering the market of decentralized protocols for 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 NCent Labs to attract a significant amount of customers.

Product

Users of nCent are incentivized to form specialized networks to perform valuable work as a group. This work can take the form of solving problems characteristic of search/matching, crowd work/funding, and social networking. nCent creates incentive networks through a blockchain protocol that offers a decentralized design, and transparency and auditability properties to establish the integrity of the protocol. The GitHub was created in October 2017, the activity is quite high. The current stage of development is unclear. Beta version of the protocol is unavailable.

Business model

Incentives are a core component of the nCent protocol. Separate from the application incentives designed and implemented by nCents users, the nCent protocol distributes several types of incentives to promote and maintain the functionality of the nCent network. These incentives are denominated in NCNT and are important channels to bring NCNT into circulation. Progress incentives are rewards given to tokens used to recruit new users to join the network (i.e, tokens that are transferred to create new wallets). Intuitively this type of incentive will make up the majority of protocol incentives and will decrease in importance as the nCent network size increases. Consensus incentives are the rewards given to the validators of the network for maintaining the validity and security of the network, similar to the coins and transaction fees awarded to the miners in Bitcoin.

Finances

nCent labs already received Seed investment from several funds that include Sequoia Capital, ZhenFund, MetaStable, QCP Capital, SV Angel, Floodgate, Ame Cloud Ventures, Signia. They also secured investments from angels investors, including Naval Ravikant(AngelList Founder) and Steve Jurvetson. However, the token metrics and the valuation are still unclear.

Team

The core team consists of 3 people. There are 7 people working at the company, according to Linkedin.\nPrior to founding nCent Labs, KK Jain was Director of the Computational Finance program at Stanford. He ran quantitative and macro hedge fund strategies at Citigroup, Perry Capital and D.E. Shaw & Co. KK holds an M.S. from Stanford University and an A.B. from Dartmouth College. His work experience cannot be validated on LinkedIn.\nThe list of previous companies working experience includes Amazon, Oracle, Oliver Wyman, Uber, Google, Facebook, shee++. The product development team looks solid. The only minor drawback is that the core software development team consists of intern students though with vast experience.

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