Uranus ICO OverviewThe Uranus ICO and URAC token sale are raising funds for a platform to organize unutilized resources of everyday computational devices on a decentralized network. The Uranus network will serve as a juncture for computing resource providers and customers, allowing any compatible device to contribute spare compute power in exchange for a reward. Uranus presents the platform as a cheaper, more efficient alternative to centralized cloud computing service providers.
Uranus ICO Value Proposition
The Uranus platform facilitates aggregation and utilization of spare compute resources from devices like workstations, mobile devices and home computers. Users who require computational power access the network through a client interface, submit a request, and pay the corresponding about of Uranus Tokens (URAC), at which point a smart contract takes effect. The network selects nodes with the necessary compute power in accordance with the requested task and runs a computation. Once the task is complete, the output results are returned and settlement is completed automatically, releasing the token reward to the compute providers.
The Uranus Chain consists of a four-layer architecture:
The Storage layer provides a ledger of both transaction data and compute power container information, such as available CPU, memory and disk resources.
The Network layer facilitates interconnection and exchange of data on the chain. A data channel contains statistics on the computational resources available to the network and a management channel, or Computing Power Container Engine (CPCE), automates scheduling, deployment and management to maximize network coordination.
The Protocol layer runs the consensus mechanism of the platform. Uranus deploys a Delegated Proof of Stake (DPOS) + BFT hybrid consensus algorithm.
The Extension Layer houses the business logic components of the chain, including the smart contract module and infrastructure components for dApp integration.
URAC is the native token for the Uranus Network. The token provides a store of value for transacting computational power, and also is integral to network governance, as a staking mechanism to gain voting power and elect validators. URAC will initially be released as an ERC20 token until launch of the mainnet.
Uranus ICO Team
James Jiang (Founder and CEO) spent the last 7 years as CEO of Beijing Cloud Times Technology Co., which he co-founded in 2011, developing enterprise-level cloud computing products. In 2001, James established a ZTE subsidiary company Shenzhen ZTE Integrated Telecom Ltd./ Shenzhen ZTE Mobile Telecom Co. Ltd, serving as a General Manager and Board Chairman until 2006. He holds 2 master’s degrees; in Mathematics from Texas State University and in Operational Research from Nanjing University of Science and Technology.
Hally Han (Co-founder and CTO) is also the Co-founder and CTO of Beijing Cloud Times Tech. Prior to that, Hally spent over a year as Chief System Architect with iSoft Infrastructure Software Co. He has an additional 4 years experience as Co-founder and Chief Architect of a video surveillance technology company.
Fei Li (CPO) has served as CPO at Beijing Cloud Times Tech for over 6 years. As a Product Manager, he has an additional year of experience with iSoft Infrastructure Software Co. Fei has another 4 years prior experience as a Technical Manager between various IT companies.
Mingbo Li (Software Architect and Algorithm Expert) has worked as a Manager with Beijing Cloud Times Technology for nearly 7 years. In addition, he has 2 years of experience as a Software Architecture Manager.
Yaowen Chen (Blockchain Expert) has spent the last 2 years as an AI Expert at Shanghai Higgs Network Tech, an AI-based recruitment solution provider in Shanghai. His has an additional 3 years of experience with developing machine-learning algorithms. Before venturing into machine learning, he spend 6 years as a software engineer. His LinkedIn profile does not contain information on his role with Uranus at the time of publishing.
Cheng Zhang (Senior Expert at Blockchain) is a Co-founder of Shanghai Higgs Network Tech, where he spent over 2 years. According to his LinkedIn, he has served for the last 2 years as Technical Director with another AI recruitment company also located in Shanghai.
The Uranus ICO has 12 full time team members, along with 6 “technical advisors”. While the technical advisors are distinguished from the “advisory team” on the Uranus website, they also do not contribute directly to the project but could be mistaken as full time team members from their order of display. The full details on the team and both sets of advisors are available here.
Uranus ICO Strengths and Opportunities
The Uranus ICO team share a fair deal of experience in the cloud computing domain and overall appear to be highly-competent developers. Adding credence to the business acumen of the executive team, Co-founders James Jiang and Hally Han have firsthand know-how developing cloud computing products and onboarding enterprise clients.
In addition, the product #DevelopmentTeam includes tech veterans specialized in blockchain, cryptology and AI. The project also solicits support from several well-established technical advisors, who could bring important resources throughout the product development phase with their expert knowledge of the core technology underlying the Uranus platform.
Uranus ICO Weaknesses and Threats
The Uranus ICO has set 3 milestones which correspond to the level of product development and user scaling, with the first version of the platform initially scheduled for a private beta test release in Q3/2018. Versions 2.0, 3.0, and 4.0 are set for release between Q4/2018 through Q1/2019, each corresponding with a target number of users: 10,000, 100,000, and 500,000. The final full-scale “Ecological” version, will launch in Q2/2019. With the release of a prototype already delayed until the end of September, the first milestone has been pushed ahead.
Along with the delay in technical progress, the 3 project milestones include references to continued user acquisition and an ecosystem growth strategy targeting enterprises, but an articulated strategy for accomplishing these goals is absent.
With no announcements either regarding strategic partnerships to pilot the platform, the Uranus ICO is missing progress on a front that is critical to success in this highly-saturated space. If we consider the number of distributed computing ICOs targeting the same market, which have already put significant effort into ecosystem growth, an aggressive, coherent go-to-market strategy is an absolute necessity for the future prospect of Uranus.
Without any significant headway in the tech or business realm, we invariably turn back to the team for evidence of past success that would indicate a higher probability for a repeat performance. While the team are undoubtedly well-experienced with cloud-computing development, several significant shortcomings are apparent. The team consists entirely of developers, with nobody to fulfill marketing or business development functions, which may provide one explanation for the absence of indicators toward current or future scaling efforts.
When weighing the value of the Co-founders’ previous experience founding and running Beijing Cloud Times Tech, the differences between launching an enterprise-level product and a decentralized computing platform are substantial. The success of decentralized platforms like Uranus rests heavily on effective user acquisition and growth strategies, an area where the team has limited experience.
The Verdict on the Uranus ICO
The Uranus ICO is the latest contender in the distributed computing race. Competition aside, crucial indicators for a strong project are missing at this stage. While the lead team has experience founding a company in the cloud computing industry, the process did not involve quickly scaling a large user base of individuals. As the team is solely comprised of developers, there are no visible resources to dedicate toward marketing and growth efforts.
Coming up short on 3 basic determinants of a solid project, the Uranus ICO is a pass.
We are not going to participate in the Uranus ICO.
What Would Change Our Minds?
A deliverable from the team demonstrating the viability of the MVP
Addition of more developers with solid blockchain experience and a marketing/biz dev team who has prior success scaling a product
Inclusion of a detailed roadmap and go-to-market strategy with milestones for product development and a coherent strategy for ecosystem growth
Today’s Date: 8/4/18
Project Name: Uranus
Token Symbol: URAC
Website:
http://Uranus.ai/White Paper: Uranus Whitepaper
Crowdsale Hardcap: 35,000 ETH
Total Supply: 3,500,000,000
Token Distribution: 35% to token sale, 3% to seed investors, 15% to team, 7% to ecosystem, 40% to mining reward
Fully-diluted Market Cap (at crowdsale price): $45,000,000 USD
Accepted Payments: ETH
Countries Excluded: US, China, Canada, New Zealand, South Korea
Whitelist:
https://t.me/UranusAnnImportant Dates: TBA
Expected Token Release: TBA
Additional Information:
https://t.me/UranersSOURCE :
https://cryptobriefing.com/uranus-ico-review-and-urac-token-analysis/
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Topic: Uranus ICO Review (Read 1409 times)