ICO Analysis: Enecuum
Published on October 9, 2018
By Daniel Won
Proof: https://hacked.com/ico-analysis-enecuum/
Team
CTO Anton Nikonorov: Nikonorov has worked at Sberbank-Technology, a subsidiary of Sberbank founded to maintain the bankís IT system, for almost three years.
Jevgenijs Vainshetins: Before joining Canonical Ltd., a software development company based in London, as a director, Vainshetins was an employee at Huawei Technologies, Cogent Communications, Mobotix AG and Verint.
Maxin Motin: Motin has worked as the head of business communication at MegaFon, a Russian telecommunication service provider, and as the vice president of business development at Football Club Moscow.
Jason Yee: Yee was a regional manager at National Australia Bank and the head of finance at BNP Paribas Wealth Management Hong Kong.
Adrian Guye: Guye has worked as a director at UBS, a financial services company located in Zurich, as a consultant at Societe Generale and Barclays Investment Bank and as a senior associate lawyer at Gide Loyrette Nouel.
Aleksandra Afanasyeva: Afanasyeva is an associate professor of the department of mathematics and IT at the Saint Petersburg Academic University.
Sergey Bezzateev: Bezzateev is the head of the department of IT Security at the Saint Petersburg State University of Aerospace Instrumentation.
Alexander Granin: Granin has worked as a research developer at Kaspersky Lab.
Advisors
Jorge Sebastio: Prior to joining Huawei Technologies UAE as the CTO for partner eco-system data center solutions, Sebastio was the head of global services solutions at International Turnkey Systems Saudi Arabia, the assistant GM, VP & technical SE at Computer Associates and a project leader at Canada Post Corporation.
Stan Prihodko: Prihodko is the head of crypto asset management at GEM Capital, a fund with over $400 million in assets.
Shelly Hod Moyal: Before co-founding iAngels, an angel investment firm, Moyal worked at companies such as Goldman Sachs, Avenue Capital Group and UBS.
Verdict
Below is a breakdown of the risks and growth potential of Enecuum.
Risks
Independent code reviewers think the code in their GitHub does not reflect most of the claims made in the whitepaper so far. (-2.5)
Although the team is highly experienced in software development, the absence of actual blockchain development is a worry. (-1.5)
Although the team claims that they have already reached a speed of 9,000 transactions per second, there are not much to back it as the test-net has not been made public yet. (-2)
Growth Potential
Great team and advisors experienced in software development, management, and (+3.5)
SHARNELL Smart Contracts provides higher security as they make automatic reliable testing possible and this can attract interest from projects aiming to launch ICOs. (+2)
PoA mining will be conducted by smartphones and 70% of mining rewards will be allocated to their owners. A more democratic mining with ASIC resistance should have the interest of the mining community eventually. (+1.5)
HyperDAG is a more advanced form of DAG which is used in Nano and Iota. (+2.5)
Disposition
Enecuum is a blockchain project with superior technical features. SHARNELL Smart Contracts, invented by the Enecuum team, enables automatic reliable testing and ensures higher security. Mining is conducted in three different stages, thanks to an algorithm called Trinity which is a combination of proof of work, proof of activity and proof of stake. As by default, 70% of mining rewards are allocated for PoA miners, or people using their smartphones for mining, a fair mining environment has already been established. A more advanced form of DAG, HyperDAG is used to obtain a higher transaction speed. Although the team claims that they have already reached 9,000 TPS on the test-net, it is better to be wary for now since it is not possible to verify this publicly. Although many team members are highly experienced in software development, management, and finance, the absence of blockchain development for such an ambitious project is a worry. Enecuum receives a 4.5/10.
Investment Details
Type: ERC20 ñ Utility
Symbol: ENQ
Platform: Ethereum
Crowdsale: October 31st
Minimum Investment: No
Price: $0.04
Hard Cap: $23,870,246
Payments Accepted: ETH
Restricted from Participating: China, North Korea, United States
Published on October 9, 2018
By Daniel Won
Proof: https://hacked.com/ico-analysis-enecuum/
Team
CTO Anton Nikonorov: Nikonorov has worked at Sberbank-Technology, a subsidiary of Sberbank founded to maintain the bankís IT system, for almost three years.
Jevgenijs Vainshetins: Before joining Canonical Ltd., a software development company based in London, as a director, Vainshetins was an employee at Huawei Technologies, Cogent Communications, Mobotix AG and Verint.
Maxin Motin: Motin has worked as the head of business communication at MegaFon, a Russian telecommunication service provider, and as the vice president of business development at Football Club Moscow.
Jason Yee: Yee was a regional manager at National Australia Bank and the head of finance at BNP Paribas Wealth Management Hong Kong.
Adrian Guye: Guye has worked as a director at UBS, a financial services company located in Zurich, as a consultant at Societe Generale and Barclays Investment Bank and as a senior associate lawyer at Gide Loyrette Nouel.
Aleksandra Afanasyeva: Afanasyeva is an associate professor of the department of mathematics and IT at the Saint Petersburg Academic University.
Sergey Bezzateev: Bezzateev is the head of the department of IT Security at the Saint Petersburg State University of Aerospace Instrumentation.
Alexander Granin: Granin has worked as a research developer at Kaspersky Lab.
Advisors
Jorge Sebastio: Prior to joining Huawei Technologies UAE as the CTO for partner eco-system data center solutions, Sebastio was the head of global services solutions at International Turnkey Systems Saudi Arabia, the assistant GM, VP & technical SE at Computer Associates and a project leader at Canada Post Corporation.
Stan Prihodko: Prihodko is the head of crypto asset management at GEM Capital, a fund with over $400 million in assets.
Shelly Hod Moyal: Before co-founding iAngels, an angel investment firm, Moyal worked at companies such as Goldman Sachs, Avenue Capital Group and UBS.
Verdict
Below is a breakdown of the risks and growth potential of Enecuum.
Risks
Independent code reviewers think the code in their GitHub does not reflect most of the claims made in the whitepaper so far. (-2.5)
Although the team is highly experienced in software development, the absence of actual blockchain development is a worry. (-1.5)
Although the team claims that they have already reached a speed of 9,000 transactions per second, there are not much to back it as the test-net has not been made public yet. (-2)
Growth Potential
Great team and advisors experienced in software development, management, and (+3.5)
SHARNELL Smart Contracts provides higher security as they make automatic reliable testing possible and this can attract interest from projects aiming to launch ICOs. (+2)
PoA mining will be conducted by smartphones and 70% of mining rewards will be allocated to their owners. A more democratic mining with ASIC resistance should have the interest of the mining community eventually. (+1.5)
HyperDAG is a more advanced form of DAG which is used in Nano and Iota. (+2.5)
Disposition
Enecuum is a blockchain project with superior technical features. SHARNELL Smart Contracts, invented by the Enecuum team, enables automatic reliable testing and ensures higher security. Mining is conducted in three different stages, thanks to an algorithm called Trinity which is a combination of proof of work, proof of activity and proof of stake. As by default, 70% of mining rewards are allocated for PoA miners, or people using their smartphones for mining, a fair mining environment has already been established. A more advanced form of DAG, HyperDAG is used to obtain a higher transaction speed. Although the team claims that they have already reached 9,000 TPS on the test-net, it is better to be wary for now since it is not possible to verify this publicly. Although many team members are highly experienced in software development, management, and finance, the absence of blockchain development for such an ambitious project is a worry. Enecuum receives a 4.5/10.
Investment Details
Type: ERC20 ñ Utility
Symbol: ENQ
Platform: Ethereum
Crowdsale: October 31st
Minimum Investment: No
Price: $0.04
Hard Cap: $23,870,246
Payments Accepted: ETH
Restricted from Participating: China, North Korea, United States
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