The market of blockchain platforms is highly competitive. A lot of projects are entering this market with the familiar entering.
Product has not been developed yet.
There is no information about mining conditions and opportunities. Benefits for token holders is not described.
The project is overvalued for current development stage. The financial model has not been presented.
No information about the company in team’s LinkedIn Profiles. The team has technical focus, the business part of the team is not strong enough.
The project is going to compete with other blockchain platforms for creating smart contracts and implementing it to the everyday business processes. It represents the new generation of the blockchain platforms, which is going to solve the problem of scaling and consensus protocol. At the same time, there are many other projects with the same goals, which are entering the market right now. SEELE, dFINITY, Metronome, Zilliqa, Lisk, Waves and Stratis is not the full list of the competitors. Moreover, existing leading players, such as Ethereum and NEO, is working on this issues. The team states, that Pchain is one of the first project that supports Ethereum Virtual Machine. However, it could be not enough, to win in such fierce competition. The most important factors, which is 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.
The product is consist from few key competitive advantages. First is multi-chain approach. It is proposed to improve the support for DApp. PCHAIN supports cross-chain calls. With the toolkit provided by PCHAIN, the smart contract on PCHAIN can be invoked using non-native Token on other chains. The toolkit currently supports BCH and Tokens following the ERC20 protocol. The second feature is consensus of sharding for accelerating the speed of transactions. PCHAIN supports Shardings at different levels and offers a choice of POS consensus mechanisms to improve the efficiency of operation and storage and support chain expansion. The last feature is knowledge graph and smart data, which allows standardizing parsing of external data to smart contracts. Supporting EVM, which allows you to create smart contracts without knowledge of Solidity language. It could significantly raise the usage of the smart contracts. There is no proved information, that team’s project has already spend ages, working on it. As a result, it is hard to understand founders commitment and beliefs in the product. Now, it seems, that project team has just been formed and has promised to develop highly promising technologies.
The model of this platform is not described in the white paper. However, 15% of funds will be spent on rewarding of minners. At the same time, there is no information about any rewarding mechanism. The Pchain ecosystem consists of two major components, the Pchain foundation and the Pchain system. The Pchain foundation supports the development of the project, also, it is responsible for tracking and managing all the DApp added, code reviewing to raise the security of the platform and financial and personnel management. No other information is presented in the white paper or social media channels.
At this moment, there is not so much information about financial side of project. The name of PCHAIN's Token is PCH, and a total of 2,100,000,000 (2.1billion) PCH will be issued. Price per token is yet to be announced. There will be 2 main stages: target donation (private sale) and public donation (public sale). 15% is reserved for private sale and 20% is hold for public sale. Also, it is stated, that 25% will be issued for community building. As a result, it seems that share of potential investors would be significantly diluted by community members. In addition to that, it is not stated what exactly token holders would receive. In VC reality, such product would pass through seed stage funding. Product is not ready, 65% of raised fund is going to be spend on R&D and only 20% on marketing. We conclude, that hard cap should be between 10000-20000 ETH. Higher valuation for that moment is too much. According to current information, hard cap is about 50k ETH. Moreover, there is no information about vesting period. As a result, it looks, that project is overvalued.
Currently, according to the website, the project team consists of 6 people. The team consists of the high professional in programming and computer science. However, there is no professionals with relevant business experience. There is no marketing director or product development team. For current development stage, it is possible. Founder of the project is well-known blockchain specialist. He has 22 papers in ACM/IEEE top conference and 30+ international patents. Other team members also have a huge technical background in SAP, Global Top 500 companies, and leading universities. However, the team has not the common experience. As a result, it is impossible to predict team's efficient.