- The difficult idea for the market
- Politics risk due to the founder's manifesto
- Idealistic motives behind the project's structure and goals
- The role of tokens is still finalized
- The project is not going to accept additional funds
- The founder background and vision may push away some partnerships and prevent the adoption
The behind the Urbit is difficult, complicated and aims to build up the new Internet. That is a usual manifesto for blockchain projects, but Urbit's approach is more fundamental. The idea has something similar to NKN and Dfinity but here some idealistic motives are involved. That may turn both as a strong boost of support for the project and the detrimental anti-hype. Alternative for the network of virtual computers do not exist, but the winner in that race is able to upgrade the global Internet. By the way, the competitive landscape is weak.
The project aims to build up a decentralized internet, where everyone is able to host and use a Virtual Machine in the cloud. A user is able to launch its server and determine its configurations. Urbit is built on the Hoon code and Arvo operation system, both created for Urbit. Blockchain is used as the cryptography instrument to ensure rights to intellectual property in the network and to virtual servers. The project has a Constitution, indicating that the hierarchy in the system was inspired by the Roman Empire law. The project's development may be tracked since 2002. The Github page is active. Roadmap for the project is unknown.
Every computer in the network represents a ERC-721 token and may appear either a distant virtual machine or a group of them with the unique hash. Creating a group of machines requires ERC-20 token SPARK.
The first round was in 2016 with 200K USD filled. The last round attracted additional 1.26M USD. Additional metrics for the right valuation are not available, but the sum raised look reasonable for the project's development. Investors are widely known, including Andreessen Horovitz and Peter Thiel. Additional rounds are not planned now.
The company has been working under Urbit since 2014. Linkedin indicates that is consists of 13 members. The founder is Curtis Yarvin - American political theorist famous for promoting the alt-right movements of the Dark Enlightenment. This movement is supported by its community, that may eventually contribute to the Urbit's promotion. Co-founder Galen Wolfe-Pauly - 15 years in IT, 7 years as CTO of Baggu, the design studio. Head of Operations - 9 years in the law firm, took part in Neutrino blockchain project in 2015 and had some non-profit positions. Software engineers took part in multiple projects and have average relevant experience of 5 years each. One of them has been working on Google for 10 years.