TokenInsight Cryptocurrency Rating Update 2020 Week #21
TokenInsight added 5 cryptocurrency projects in total to our project rating database: Cartesi, ShipChain, Enigma Project, Request and Telcoin.
Cartesi is a layer 2 project that works to improve the scalability of blockchain technology. Through intensive off-chain computation, Cartesi aims to allow developers to work under the Linux operating system with the programming languages they are familiar with. The pain point Cartesi is trying to solve is quite clear and the service it provides is adaptive to many scenarios. Although, the competition in the field it’s in is intensive and the regulations are still vague. Meanwhile, the core members of the team lack blockchain background although they are experienced in programming. The overall condition of Cartesi is good, backing by a clear roadmap, the timely media updates, and the stable token value in the secondary market. And the project is currently in a stage of strengthening its ecosystem and expanding the market. Considering the status and development prospects of the project, the rating for Cartesi is B with a stable outlook.
ShipChain tries to use blockchain technology to simplify the complicated process of transportation, and reduce the overall costs by saving the fees charged by the third-parties. The team has disclosed a large number of people: the CEO has worked for many years in the transportation company; the technical team is huge but the CTO resigned after two years and five months of work. SHIP is the token issued by the project. The market value of SHIP in the secondary market is $ 12.8 million, with low transaction volume and poor performance. Developed from 2017, the project just finished the Demo version of the project, the overall developing progress is slow, and the progress is slow. Considering the status and development prospects of the project, the rating for ShipChain is CC with a developing outlook.
Enigma Project aims to provide data privacy protection for smart contracts and public blockchains using secret contracts, MPC, and some other components. Most of the core team members come from MIT, but the team information is not fully disclosed. The CEO and CPO have relatively rich blockchain experience, and an MIT data scientist acts as one of the team advisors. The project was scheduled to be launched on the mainnet in the first quarter of 2019, but the actual mainnet launch time is in February 2020. The operating and developing process of the project is relatively transparent, with weekly and monthly progress updates. In February 2020, The SEC had accused Enigma of conducting an unregistered securities offering, and Enigma was requested to return all the money raised to its investors. Whether the development of the project will be affected after all funds are returned needs to be verified. Considering the status and development prospects of the project, the rating for Enigma is CCC with a developing outlook.
Request network makes accounting and auditing possible on Blockchain transactions. The overall technical strength of the team is general, and team management is good. The feasibility of the project has yet to be tested in terms of technical feasibility. The influence of the project and the popularity of the media are low. Request is the token issued by the project, and it has a good degree of ecological incentives; its distribution and unlocking mechanism are clear. The current comprehensive performance in the secondary market is relatively poor. Its market value is about 9.5 million US dollars, and the price is stable with low ranking monthly transaction volume. Considering the status and development prospects of the project, the rating for Request Network is B with a stable outlook.
Telcoin aims to build an efficient remittance channel through the telecom system with a lower fee, providing service to those unbanked. Claude Eguienta is the CEO of Telcom, and he is from computer science. Paul Neuner is a partner of Telcom, and he used to work in the telecom industry. Claude and Paul’s background matches Telcoin’s vision; however, the other members of the team remain unpublic. Telcoin App has listed on App Store and Google Play with a basic TEL transaction function. The fiat converting is still incomplete. Considering the status and development prospects of the project, the rating for Telcoin is CCC with a stable outlook.
Disclaimer:
This list is based on publicly sourced information and is published in good faith for general information purpose use only. TokenInsight does not make any warranties about the completeness, reliability and accuracy of this information. This list does not constitute an offer or a recommendation to purchase, hold, or sell any cryptocurrencies (tokens) or the engagement of any investment activities.
Based on the research and analysis of the latest market data and our integrated rating system, we aim at providing investors with accurate and timely project information and helping them effectively avoid risks.
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Founded in 2017, TokenInsight is a Leading Data & Tech Driven Blockchain Financial Institution. TokenInsight pioneered a complete blockchain industry classification system, covering more than 1,600 projects, releasing more than 300 rating reports, and conducting in-depth studies into 10 major industries.
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