AERGO ICO Review – Blockchain Fuel for Autonomous Business - Crush Crypto

AERGO ICO Review – Blockchain Fuel for Autonomous Business

Summary

  • Project name: AERGO
  • Token symbol: AERGO Bit
  • Website: https://www.aergo.io
  • White paper: https://paper.aergo.io/AERGO_Whitepaper_v5.0.pdf
  • Hard cap: $30 million (token sale contributors will own 30% of the total token supply)
  • Conversion rate: TBA
  • Maximum market cap at ICO on a fully diluted basis: $100 million
  • Bonus structure: TBA
  • Private sale / white list: The private sale has completed. Details on the public sale and whitelist will be provided by the team soon.
  • ERC20 token: Yes (the tokens will be migrated to the mainnet after it is launched)
  • Countries excluded: TBA
  • Timeline: The public sale is tentatively scheduled for launch in August 2018 (please visit AERGO’s website and join their Telegram channels for the most up-to-date information on their upcoming token sale)
  • Token distribution date: TBA
Video summary (video is 7:59 long):

Project Overview

What does the company/project do?

AERGO aims to develop an open source blockchain protocol that is “enterprise ready”. Using their platform, businesses and developers would be able to easily design, build and deploy their applications onto the blockchain within the cloud, with the option of deploying on either public or private blockchains.

As a next-generation blockchain, AERGO aims to resolve the issues of IT integration, software development, privacy, scalability, and interoperability that exists in today’s blockchains.

AERGO seeks to be the first to provide features such as SQL, reactivity and isomorphic programming. It will also introduce a new software stack comprised of SQL, AERGO and Meteor. The goal is to create a platform for developers to easily build and deploy decentralized applications (dApps) within the cloud with faster transaction speeds and lower operational costs.

The project is supported and developed by Blocko Inc., a blockchain infrastructure provider founded in 2014 with operations in the UK, South Korea, and Hong Kong.

AERGO will be utilizing Coinstack, a permissioned blockchain solution developed by Blocko that enables users to share data with third parties in a secure and efficient manner and has already been deployed to 25 million users around the world.

Blocko works with a number of established companies including Cisco, Hyundai-Kia Motors, KRX Korea Exchange, IBM, Microsoft Azure, SK Telecom, Lotte Card, Samsung SDS, LG CNS, etc.

The AERGO platform is comprised of three major components: AERGO Chain, AERGO Hub and AERGO Marketplace.

AERGO Chain

The public internet of blockchains which will feature an SQL-based smart contracts platform with performance potentially exceeding 1 million transactions per second using sidechain technology.

AERGO uses deterministic delegated proof-of-state (DPoS) governance model to enhance performance and maximize network stability. It will also support the Ethereum Virtual Machine to achieve interoperability.

AERGO Hub

The public interface of AERGO Chain that will enable developers to build, test, deploy and manage independent blockchains. AERGO Hub is essentially a web-based blockchain hosting service (similar to current public cloud web services) that provides various tools and services, and connects secure dApps using AERGO Chain.

AERGO Marketplace

A peer-to-peer marketplace for software applications and computing resources such as storage, computing power, algorithms, contents, etc.) for AERGO Chain.

Third parties such as service providers and cloud infrastructure vendors will be able to market their products and services to AERGO’s users. The marketplace will be accessed through AERGO Hub’s public interface.

This diagram illustrates how AERGO Marketplace works:

How advanced is the project?

The project is still in working process with the main net currently set to launch in early 2019. Blocko will be responsible for providing the project with the core technology it needs, including Coinstack.

Coinstack has already been successfully deployed at numerous companies and is essentially the predecessor for AERGO. Whereas Coinstack is purely private, AERGO will be both public and private.

Coinstack already boasts a number of features which will be used by AERGO:

The project’s future development roadmap is as follows:

Q3 2018

  • AERGO Chain Alpha

Q4 2018

  • AERGO Chain Test Network

Q1 2019

  • AERGO Public Network (Main net)

Q4 2019

  • AERGO Hub & Marketplace for businesses and developers
What are the tokens used for and how can token value appreciate?

The AERGO token is the network’s native token used primarily as the medium of exchange for various transactions and functions within the AERGO ecosystem.

The tokens will be used to incentivize its three major providers – infrastructure providers, technology providers, and service providers. It will be migrated to the AERGO main net once it has launched (currently scheduled to be released in Q1 2019). Uses of the tokens include:

  • Running smart contracts to enable various business products and services.
  • Reward for DPoS consensus algorithm.
  • Payment method for technical support, various services provided by AERGO Hub and AERGO Marketplace, and other tools and assets.

AERGO tokens should appreciate in value as more enterprises and developers join and use the network. Adoption will be driven by the platform’s ease of use, speed, security, and numerous other factors.

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Team

The team is currently comprised of at least 36 people, including 3 people on the AERGO Board, 3 Committee Heads, 5 on the technology team and at least 25 additional people from Blocko. The biographies of the key team members are summarized below.

AERGO Board

Phil Zamani – 20+ years of open source, cloud business and blockchain experience. Currently the COO of Blocko. Prior positions include Global Head of Big Data & Cloud Business Models at Banco Santander; Senior VP of the Cloud Business Unit at Deutsche Telekom; VP of Sales and Business Development in Internet Appliances at Red Hat. He has also worked in various roles at other companies including Cygnus Solutions, Synopsys, Novell, Springsource (now Pivotal), etc. Obtained his MBA in Entrepreneurship at Warwick Business School in 2003.

Hun Young Park – 13+ years of experience in developing databases and distributed systems with expertise in large scale and high performance software design. Currently the CTO and Director of Blockchain Research Development of Blocko. Previously the Principal Software Engineer at TmaxData and Senior Software Engineer at Tibero. Obtained his Master’s degree in Computer Science at KAIST in 2005.

Roderik van der Graaf – Over 20 years of experience in private equity, venture capital, and equity derivatives trading. Currently the Founder and Managing Partner of Lemniscap (a blockchain investment firm) and an advisor to Blocko. Previously a Managing Director at Caldera Pacific and at KCP Capital. He also worked in various roles in equity derivatives trading at Deutsche Bank, HSBC, Rabobank, Bear Stearns, LIM Advisors and All Options. Obtained his Master’s degree in Information Technology at the University of London in 1997.

Committee Heads

Won Kim – 15 years of experience in Relational DBMS and distributed systems. Founder and CEO of Blocko and Technical Advisor to Lemniscap. Previously worked in research and development of distributed databases and database administration at S-Core and TmaxSoft. Obtained his Bachelor’s degree in Computer Science at Boston University in 2008.

Jane Lee – 7 years of experience in strategy consulting with expertise in digital transformation and technology commercialization. Currently the Chief Strategy Officer of Blocko. Previously the Strategy Manager of Accenture where she worked for more than 6 years. Obtained her Bachelor’s degree in Hotel Administration from Cornell University in 2009.

Alison Shim – 5 years of experience in strategy consulting with expertise in go-to-market strategy and business development. Currently the Chief Innovation Officer at Blocko. Obtained her Bachelor’s degree in Economics and Communication Studies at New York University in 2012.

Advisors of the project include Eddie Alleyn, former Director of the UK’s Ministry of Defence and the Foreign and Commonwealth Office; Vincent Zhou, founding partner of FBG Capital; Sinhae Lee, partner at GBIC; Riad Hartani, founder of multiple tech startups, and others.

Investors of the project include FBG Capital, GBIC, Lemniscap, Rockaway Blockchain, Dekrypt Capital, and Block Crafters Capital.


Opportunities

  • The project is supported by Blocko, an established company that so far has delivered 23 in-production blockchain systems (for 20 companies) supporting over 25 million users. Blocko is proposing to introduce AERGO to their existing clients so the project could gain traction quickly.
  • Strong team that is balanced in terms of technical knowledge and business development.
  • There is a wide range of potential use cases in multiple industries, including financial services, manufacturing, distribution, insurance, healthcare, government and the internet of things.
  • Potential for other blockchain networks to be bridged onto AERGO.

Concerns

  • DPoS consensus mechanism that AERGO will be using sacrifices decentralization for scalability.
  • Competition from other companies, including R3, Microsoft, IBM, JP Morgan, and SAP, that are also trying to bring enterprises onto the blockchain.
  • No MVP is available yet.

Conclusion

Our thoughts of the tokens for short term and long term are as follows:

For short-term holding: S

AERGO has a reminiscence to ICON, one of the best ICO project in the last year, in various ways (backed by an established blockchain team, lots of existing enterprise users, Korean team).

We believe that the project will do very well out of the gate, even in the current market environment.

For long-term holding: A

Being backed by Blocko brings a number of advantages (experienced team in blockchain development, client list, and instant recognition). It helps AERGO both on the technical and business development front. Therefore, we believe AERGO has a good chance to be successful in the long run.

A lot of other cryptocurrency analyses focus on the technical side. While that is important, we also believe that the team with the best tech doesn’t necessary win. It is the user experience and adoption of the technology that ultimately matter. This is best explained in the well-studied business case of the videotape format war.

Disclosure: We have a position in this project.


For more information about the ICO, please visit the following links:

* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.

Our rating system is based on 5 tiers: S/A/B/C/D, with S being the highest and D being the lowest rating.

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