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Thunder

Thunder - high-TPS blockchain

Rating: 3.6

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

Detailed review

Stage of product development
Pre-release mainnet
Roadmap
September, 2019
Public mainnet, Staking pool service
December, 2019
Cross-chain assets
June, 2020
10 000 TPS
Token description
ICO date
TBA
Token price
N/A
Platform
Huobi
Hard cap
50500000
Blockchain
Thunder
Token distribution date
N/A
Consensus method
PoS
Escrow
N/A
ICO currencies
USD , BTC
Bounty camping
N/A
Markets
N/A
Token functions
Transactions
Tokens distribution
Early investors (26.0%)
Bounty (15.0%)
Committee members and operators (15.0%)
Developers, partners, creators (10.0%)
Company operations (19.0%)
Employees and advisors (15.0%)
Risks
MARKET

- highly strong competition with other blockchain focused on TPS issue

PRODUCT

- high TPS are supported by centralization

- the website is written on WIX - that's unusual for a technology company with so many experienced tech specialists employed

BUSINESS MODEL

- the model does not outstand from other blockchain protocol governance models developing in recent years

FINANCES

- too much funds attracting

- strong downward pressure to price due to high discounts and allocations to early investors

TEAM

- too large team that may result in significant cashburn

Full analysis
Market

The project appeared on radars of the crypto community one year ago when it raised the first round (~50M). Many investors were distracted by too high cap and the competition - there were too many projects aiming to resolve TPS issue by some centralization. Although, these projects attracted less funds and were more financially attractive to investors. Now the project solves the same problem but the competition remains.

The smart step was to focus on options for developers to migrate from other blockchains - so Thunder indicates that it is possible to migrate from Ethereum protocol to Thunder in five minutes.

Product

The project aims to solve the problem of low TPS in the blockchain industry by less decentralization. The idea is old and has been discussed for more than 3 to years in the industry. It is the easiest way to make TPS higher and it does not require deep technological innovations. So, for now, we see lots of protocol with dPoS.

The centralization will be supported by Accelrator - a special group of stakeholders, especially in case of attacks to the network, The protocol enables dApp development and fast migration from other blockchains.

The mainnet is launched but it is on the pre-release stage, so new round of fundraising aims to make the network more public (as well as the code). The public release is scheduled to Q3 2019.

The statistics indicated that the network has already computed about 200K transaction. The final goal is too reach 10 000 TPS by the 2Q 2020

Business model

The model looks the same as for other blockchain protocols - the main reward and supply generation comes from mining (PoS supporting the network). Nodes may join in groups.

Inner gas will be used to determine the costs for computations.

Finances

The project raised 50M USD and the current round (IEO on Huobi) aims to attract additional 0.5M USD. The initial sum was high enough and the current round seems to have no sense in raising funds.

Seed - 1 TT = 0.01 USD
Private Round One: 0.02 USD
Private Round Two: 1 TT = 0.10 USD
IEO - 0.15 USD

Individual cap from Huobi: "100HT worth of TT tokens as basic cap, with an additional cap that equals the number of TT tokens equivalent to users’ minimum HT holding amount over 7 days period before launch (5000 HT worth of TT tokens at maximum for additional cap"

Team

The team includes about 40 members with 3 key persons:

Chris Wang (CEO) - PhD (Computer Science, Carnegie Mellon University), was one participating in building Playdom (acquired by Disney).

Elaine Shi (Chief Scientist) - PhD (Computer Science, Carnegie Mellon University), a few academic papers on blockchain networks, IC3 co-founder, some rewards - the Packard Fellowship, ONR YIP Award, Alfred P. Sloan Fellowship, Google Faculty Awards, NSA Best Scientific Cybersecurity Award.

Rafael Pass (Co-founder) - PhD (Computer Science, Royal Institute of Technology), also, PhD in Computer Science from MIT, worked in JP Morgan and PwC  (2 years), created ANONIZE (highly scalable computation protocol implemented in Brave browser).

Other team members are also highly experienced with the relevant experience in Google, Uber, Intel, Facebook, Walmart.

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