Back

DISCLAIMER: This is not financial advice! None of the members of ICOPools.io are licensed financial advisors, hence you are urged to do your own due diligence and take your own decisions. (read more)

PChain

PChain

Active Pools Min cap Bonus Commission Raised Rating Language Access Created
Last ICO deals

Min cap

0.1 ETH

Bonus

20%

Commission

6.5%

Raised

29 / 100 ETH

Active

19.03.2018

Finished successfully

20.03.2018

29.56 eth sent

Min cap

0.5 ETH

Bonus

0%

Commission

9%

Raised

194 / 300 ETH

Active

26.03.2018

Finished successfully

27.03.2018

pool is full

Min cap

-

Bonus

-

Commission

5%

Raised

No data

Active

20.09.2018

Finished unsuccessfully

22.11.2018

Min cap

0.5 ETH

Bonus

30%

Commission

6%

Raised

400 / 400 ETH

Active

17.01.2018

Finished successfully

02.02.2018

Tokens distributed

01.06.2018

Min cap

0.3 ETH

Bonus

0%

Commission

0.5%

Raised

1 / 301 ETH

Active

27.03.2018

Finished unsuccessfully

28.03.2018

canceled, pools not allowed in pchain

Min cap

0.1 ETH

Bonus

0%

Commission

2%

Raised

No data

Active

23.03.2018

Finished unsuccessfully

26.03.2018

Min cap

-

Bonus

-

Commission

-

Raised

70 / 70 ETH

Active

24.03.2018

Finished successfully

27.03.2018

Tokens distributed

01.06.2018

Min cap

-

Bonus

-

Commission

4.5%

Raised

No data

Active

22.03.2018

44% of tokens no lockup 33% of tokens 1 month lockup 23% of tokens 3 month lockup

Finished successfully

23.03.2018

pool completed

Min cap

0.1 ETH

Bonus

0%

Commission

5.5%

Raised

No data / 200 ETH

Active

25.03.2018

Finished unsuccessfully

02.04.2018

cancelled

Analytics

Category: Blockchain                                                                      Country: Singapore  Date: October 31, 2018

 

 

INTRO

PChain Network is a new infrastructure level public chain system with native support for multichain applications and EVM, providing an open, scalable platform for third party developers in the industry and making it possible for large-scale enterprise applications based on smart contracts.

 

 

TOKENOMICS

Metrics

Post ICO Metrics**:

Current Token Price: $0.019

Max/Min Token price: $0.21/$0.017

Circulating Supply: 741.8M PAI

24H Trading Volume: $937M

Market Cap: $14.2M

ROI: 0.36x USD; 0.97x ETH; 0.41x BTC

ICO Metrics:

ICO ended on May 28, 2018*

Token: PAI

Token type: ERC-20

Hard cap: $26.7M

Soft cap: Not Set

Total Token Supply: 2.1B

Price: $0.053 (Price is based on ETH)

Individual Min/Max Cap: 0.1 ETH / 0.4 ETH for the first 2 hours of ICO, 10 ETH after

Discount: No data

Bounty: Yes

Whitelist/KYC: Yes

Accepting: ETH

Сan't participate: China, USA

 

NOTE:

  • *ICO lasted less than 1 day.
  • *Post ICO metrics are provided according to Coinmarketcap.

 

Tokens distribution

Token distribution:

Crowdsale funds distribution:

NOTE:

  • The amount of tokens available for sale (35%) is very small. The optimal share for sale is around 60-65%.
  • The allocation for Team (25%) is very high. Optimal allocation is up to 10%.

 

Protective measures against the tokens depreciation

The team didn’t provide any information about protective measures against the tokens depreciation:

 

  • No information about buyback program;
  • No information about tokens lockup periods and vesting schedule;
  • No information about what will be done with unsold tokens;
  • No information about any additional measures to prevent future tokens depreciation.

 

NOTE:

The fact that the team didn’t provide any information about protective measures against the tokens depreciation theoretically may indicate teams confidence in tokens future price.

 

 

PRODUCT

The relevance of market problems solved by the project

The issues team seeks to resolve include the following:

  • Insufficient support for large-scale transactions;
  • All DApps exist on one blockchain, browsing and restoring transactions are complex;
  • Lack of a unified and effective Oracle method;
  • POW with single chain at present is a waste of calculation power;
  • Smart contract data compatibility issues, inconvenient to upgrade.

 

The solutions for stated problems will include:

  • Multi-chains technology effectively divides the original structure of single-chain into different shardings through the way of the structural reconstruction, which makes the whole blockchain structure no longer show the processing power of       a single computer;
  • PChain Network is the first blockchain project to support EVM on a multi-chains structure;
  • PChain Network improves the overall performance of the blockchain from the perspective of Data      Processing and Sharding through a multi-chain structure, and designs a      new consensus approach based on multi-chain structure.

 

The description of key products and project technology

Key technologies behind PChain Network include the following:

 

Invocation of Smart Contract for non-native Tokens:

The PChain Network supports cross-chain calls. With the toolkit provided by the PChain Network, the smart      contract on the PChain Network can be invoked using non-native tokens of other chains. The toolkit currently supports BCH and tokens following the ERC20 protocol.

 

Consensus of Sharding:

The PChain Network supports      expansion of chain and improves      operational efficiency by introducing Sharding mechanisms at different levels and supporting POS consensus mechanism. The PChain Network executes Sharding in two ways:

1. Hierarchical structure of main chain and child chain: the main chain provides registration, search, storage, deposit and other services for child chains and supports cross-chain transactions. One can create a child chain to complete a specific business logic. This eliminates the need for all business transactions to be done on one chain, greatly      reducing the operation and storage pressure on the main chain.

2. For specific chains with more nodes, transaction-level Sharding is used: the PChain Network automatically enables this Sharding mechanism inside the chain when       

there are more nodes and too many transactions in the chain.

 

Knowledge Graph and Smart Data:

PChain  Network writes  standard RDF triples  into the built-in blockchain  knowledge base to form Smart Data. The goal of PChain Smart Data is to generate valuable data, filter the noise of the data, and become  an element of the smart contracts Oracle. Smart Data can be widely used in various smart contracts of the PChain Network,  as well as other cross chain requests. Smart Data can be an intermediate layer combining blockchain and artificial intelligence,  and can facilitate the combination of blockchain and external big data. Therefore, it has broad application prospects, including decentralised distributed  Q&A, market forecast, distributed Knowledge Graph building, social networking, digital identity and so on.

 

Ethereum Virtual Machine support:

PChain Network uses Solidity and EVM for smart  contracts in both its main chain and side chain  so that existing EVM users can quickly build new  or migrate existing DApp applications on the PChain Network.

 

Other implemented technologies include: account mechanism; multilink consensus; the incentive mechanism of PAI; storage mechanism; smart contract upgrade; external interface.

 

NOTE:

The description of project technology is quite complicated and contains specific professional terminology. Therefore it can be quite difficult for understanding by usual investors not versed in the subject.

 

The stage progress and milestones of the project development (Roadmap)

At the moment the roadmap is scheduled up to Q3 2019 and provides major milestones of the project development without any significant technical details. They include:

 

  • Oct. 2018: Complete the development of PChain core system which supports account system and deployment of smart contract, publish technical white paper. Test net of main chain online.
  • Mar 2019: Publish the product on the major network complete document of external API and Wiki.
  • Jun 2019: Expand the capabilities of Knowledge Graph and Data Blockchain and support external development interfaces.
  • Sep 2019: Introduce several blockchain application projects to form Knowledge Graph Blockchain Alliance.

 

The team doesn’t provide any information on how the development will be performed after Q3 2019. For now the project sticks to roadmap deadlines, as the milestones scheduled for October 2018 are fully completed. Also the team continues to release weekly reports with significant information on projects development in official Twitter channel as well as conducting weekly AMA sessions with projects executives.

 

For the moment the project has released the testnet 1.0 with some core functions implemented such as: Explorer, Internal Wallet, Contract, MultiChain, TPS, Game and the ability to get Free Test Tokens. Still the activity on GitHub is quite low and the latest commit was on the 6th of March. According to projects Twitter account, testnet 2.0 with 3 new upgraded features is going to be launched on the 30th of November.

 

The latest important news states that PChain with Nebulas, Bytom, HPB, NULS, XMAX, YouDeal and Atlas Protocol are creating Public Chain Technology Alliance and will cooperate to set up technical standards for public chains.

 

NOTE:

  • The fact that the activity on GitHub is very low is quite suspicious but may indicate that the core functionality of the platform was developed before ICO and for now the team is focused on building strong community around their platform.
  • The fact that the team continues to release weekly reports and conducts weekly AMA sessions shows, that the team has serious intentions about their product and won’t stop the development after successful ICO.
  • The new features in testnet 2.0 will include PDBFT 2.0 consensus mechanism to reduce network traffic, new system architecture to dock with EVM smoothly and black box automation test framework to continuously test the network.

 

The importance of blockchain in the project

The project is working in blockchain area and developing solutions related to support of large-scale transactions, DApps creating, convenience of data compatibility issues, improvement of existing consensus algorithms and other significant blockchain technology issues.

 

 

TEAM AND PARTNERS

Experience and the team achievements

A very experienced and solid Chinese team headed by an authoritative leader counts 10 members:

 

Feng Cao, Vision & Science — Co-Founder, CEO at Wanchain (1 yr) / Co-Founder, Vice Chairman of FinChain (2 yrs) / Senior Research Staff Member, Manager, Staff Researcher  at IBM Research China (8 yrs)

 

Steven Lv, Architecture — CTO at Shanghai Wanchain (2 yrs 1 mths) / CTO at Nanjing Zhitongche Network Technology Co. Ltd. (1 yr 6 mths) / CTO at Shanghai Zhaoqing Information Technology Co. Ltd. (2 yrs 4 mths) / Senior Software Development Engineer at SAP (4 yrs 4 mths)

 

Frank Ma, Blockchain Storage and Optimization — Senior Software Engineer at SAP Labs China (5 yrs 4 mths) / Software Development Engineer at Sybase (7 yrs 1 mths)

 

Kevin Zheng, In-memory Data Management — Professor of Computer Science at University of Electronic Science and Technology of China / PhD degree in Computer Science at The University of Queensland in 2012 / The recipient of Australian Discovery Early Career Research Award in 2013, and Best Paper Award of International Conference on Data Engineering  in 2015. He doesn’t have a LinkedIn profile.

 

Zhihong Chong, Query Speedup and Indexing — Associate professor in the college of computer science and engineering at Southeast University / Led and participated in the National Natural Science Foundation, National 863, the national key defense projects, and more than 10 enterprise cooperation projects such as HUA WEI, China Electronics Group and Focus Technology Co. Ltd. He doesn’t have a LinkedIn profile.

 

Zhenjie Zhang, Query Speedup and Indexing — PhD degree of computer science from National University of Singapore / A Senior Research Scientist at the University of Illinois / President Award of National University of Singapore in 2008 / Early Career Research Award of the IEEE Data Engineering Technology Committee (TCDE) in 2015 / the best paper award at the IEEE International Conference on Cloud Computing in 2013. He doesn’t have a LinkedIn profile.


 

Nadim Uddin, Growth Strategist — Master of Science in International Business Development and Marketing from University of Ulster / Master of Science (MSc) in Strategic Marketing and Leadership Skills from University of Leeds / BSc in Business Administration, Management and Operations from University of Sunderland. He doesn’t have a LinkedIn profile.

 

Sehboub Abdelmalek, Community manager — Master degree in Mechanical Engineering (Materials Department) / Community manager of several ICOs such as Zebi, ONe Social Network, Planport. He doesn’t have a LinkedIn profile.

 

Derin Karim, Community manager — Project Director of Alphablockchain Solutions / Supported several ICOs ICOs such as THEKEY, Zebi, DeepCloud AI. He doesn’t have a LinkedIn profile.


Darryl Lo, Head of Community Management — Founder and CEO of Alphablockchain Solutions / Supported several ICO projects such as Zebi, Sentinel Chain and DeepCloud AI. He doesn’t have a LinkedIn profile.

 

Strategic partners

According to official website, the project has partnerships with the following organizations:

 

North America Blockchain Association — the first and largest non-profit organization founded in 2016 and headquartered in Silicon Valley that focuses on blockchain.

ChinaLedger — Chinese blockchain alliance controlled by Wanxiang Blockchain Labs.

Blockchain — wallet for investing and storing cryptocurrencies, including the leading bitcoin explorer and market information providing service.

CCF —  China Computer Federation, founded in 1962, member of China Association of Science and Technology.

IEEE — the world's largest technical professional organization for the advancement of technology.

Association for Computing Machinery (ACM) — the oldest and largest international computer organization with headquarters is in New York that Unites about 83,000 professionals.

The University of Queensland Australia —  research-intensive institution in the top 50 universities worldwide, offering undergraduate and postgraduate learning.

W3C — (World Wide Web Consortium), an international community that develops open standards to ensure the long-term growth of the Web.

CFLP —  China Federation of Logistics and Purchasing.

SECBIT — auditing services for smart contract security.

Certik —  verification platform for smart contracts and blockchain ecosystems.

 

NOTE:

PChain, Nebulas, Bytom, HPB, NULS, XMAX, YouDeal and Atlas Protocol are creating Public Chain Technology Alliance lately and will cooperate to set up technical standards for public chains.

 

 

MARKET

Competitive environment

The closest competitors of the project are:

 

  • LISK -  $6.4M raised during ICO, market cap $305M, 47.6x USD ROI
  • Ardor -  $15M raised during ICO, market cap $101.6M, 6.8x USD ROI
  • Zilliqa -  $22M raised during ICO, market cap $267.5M, 12.2x USD ROI
  • Aelf - $24.7M raised during ICO, market cap $77.9M, 3.2x USD ROI
  • Oneledger - $15M raised during ICO, market cap $2.9M, 0.19x USD ROI
  • Quant Network - $11M raised during ICO, the token is not traded yet.
  • Block Collider - $7M raised during ICO, the token is not traded yet.
  • DFinity -  $195M raised during ICO,  the token is not traded yet.

 

NOTE:

The market for now is overloaded with similar “new blockchain” platforms and the project has a whole bunch of competitors. Some of them, which were the first movers (LISK, Zilliqa, Ardor) have shown very impressive tokens price dynamics.  But most of the competing projects that held ICO lately are showing much poorer financial indicators and returns since ICO.

 

The project advantages

  • The PChain Network is the first native multi-chain system which supports EVM which makes it possible to apply blockchain at large scale;
  • The  PChain  Network is  the first blockchain  that supports Smart Data,  based on which Knowledge Graph is formed and smart contract can be executed within a closed loop;
  • Every DApp has its own chain that makes it easy to browse and restore transactions;
  • Support of large-scale transactions;
  • New consensus makes computing parallelism: when  a group reaches a consensus, intensive CPU operation  is not needed anymore, which can save a lot of power;
  • Support of smart contract upgrade;
  • High fault tolerance: when some error happens in a child chain, main chain and other child chains are not affected and only corresponding child chain needs to be corrected;
  • Expansibility: it’s easy to deploy a new DApp with expanding a new side chain;
  • A very experienced and solid Chinese team headed by an authoritative leader;
  • The project has some strong well-known partners and is constantly widening it’s partners network.
  • The project has high level of social activity and impressive amount of engaged audience.
  • Trading volumes are relatively high despite almost semi-annual decreasing tendency in tokens price.

 

 

SOCIAL ACTIVITY

The project popularity in the social networks and discussion forums

During ICO the project was detected on the radar of the following crypto influencers: Ian Balina, OhHeyMatty, Lendex, DiddyCarter, ICO Drops, Coin Bloq, Midgard Research, Crypto Briefing, Mandy, ICO Pantera and Crypto Calibur.

 

Telegram: 75.7k members

Twitter: 44.5k followers

Medium: 1.1k followers

Instagram: 96 followers

 

NOTE:

Though the project doesn’t have a lot of social channels, the number of interested audience in Telegram and Twitter is very large.

 

 

RISK ASSESSMENT

Pros:

  • The PChain Network is the first native multi-chain system which supports EVM which makes it possible to apply blockchain at large scale.
  • The  PChain  Network is  the first blockchain  that supports Smart Data,  based on which Knowledge Graph is formed and smart contract can be executed within a closed loop.
  • Every DApp has its own chain that makes it easy to browse and restore transactions.
  • Supporting large-scale transactions.
  • New consensus makes computing parallelism. When  a group reaches a consensus, intensive CPU operation  is not needed anymore, which can save a lot of power.
  • Supporting smart contract upgrade.
  • High fault tolerance. When some error happens in a child chain, main chain and other child chains are not affected and only corresponding child chain needs to be corrected.
  • Expansibility. It is easy to deploy a new DApp with expanding a new side chain.
  • A very experienced and solid Chinese team headed by an authoritative leader.
  • The project has some strong well-known partners, including international organizations and associations and keeps going to find new perspective partnerships (CoinXP, Public Chain Technology Alliance, etc.).
  • The team sticks to roadmap deadlines.
  • The project has high level of social activity and large number of interested audience.
  • Trading volumes are relatively high despite almost semi-annual decreasing tendency in tokens price.

Cons:

  • Actual ROI indicators are quite low.
  • Some team members don’t have track records of their previous jobs.
  • The activity on GitHub is very low.
  • No detailed information about the development of the project after Q3 2019. The team only states that after examining  the results of the last shown milestone a new plan will be made for the specific development, so that the  PChain Network can maintain the correct R&D and service direction and maintain the leading position in technology and market. The statement is quite blurred.
  • The project didn’t provide detailed breakdown for the use of collected funds.
  • Only 35% of tokens were available for Crowdsale (optimal share for Public Sale is around 60-65%). That means that the network is relatively centralized.
  • The technical whitepaper doesn’t mention any measures to prevent future tokens depreciation.
  • Most of the competing projects which held ICO lately have quite poor financial indicators and returns since ICO.

CONCLUSION: PChain Network is building the first native multichain architecture that supports EVM with a PoS consensus based on multi-layer sharding mechanism that mightily improves the performance of transactions. Despite almost semi-annual decreasing tendency in tokens price, trading volumes are still relatively high and can be compared to initial volumes right after tokens listing. This fact together with very large amount of active audience in projects social networks indicates keen interest in the project. The project has some strong well-known partners, including international organizations and associations, and keeps going to find new perspective partnerships. The fact that the team sticks to roadmap deadlines, continues to release weekly reports and conducts weekly AMA sessions with executives shows, that the team has serious intentions about their product and working hard to take leading positions in technology and market. The downside is the fact that nowadays market is overloaded with similar “new blockchain” platforms and the project has a whole bunch of competitors. Although the financial performance of most projects in this sector is low, the whole cryptocurrency market can be somewhere around its bottom and there is a possibility of market growth.

 

 

Fraud risk - low. Community interest - high.

Product - 8.1
Team and partners - 8.8
Market - 7.5
Average score - 8.3

DISCLAIMER: This is not financial advice! None of the members of ICOPools.io are licensed financial advisors, hence you are urged to do your own due diligence and take your own decisions. (read more)