THELOGICALINDIAN - n-a
Online marketplaces are now an accustomed angle of the agenda world. Hundreds of millions of bodies use sites like Facebook Marketplace and Craigslist to buy and advertise goods. One of the above issues back administering online affairs is assurance amid buyers and sellers. Online marketplaces account from systems based on acceptability to advice buyers and sellers adjudge whom to transact with. But on sites which apply reputation-based ratings, users do not accept buying over their own reputation. What if acceptability was endemic instead by the users themselves and could be seamlessly transferred beyond marketplaces? The Ink Protocol ICO proposes a way to do aloof this.
Ink Agreement is a decentralized acquittal and acceptability arrangement based on Ethereum. It is designed specifically for P2P marketplace transactions where trust mechanisms amid the buyer and seller are bound or non-existent. The agreement will aboriginal be deployed on an absolute exchange alleged Listia and can be chip apart into any absolute alien marketplace via the Ink Pay App. Sellers can bring their reputation with them assimilate multiple marketplaces at the same time or move from one to another without having to rebuild their acceptability from the beginning. Buyers can also view any seller’s reputation and pay using escrow affairs with optional third party mediation.
The basal badge of Ink Protocol, XNK, is congenital on the Ethereum blockchain and is ERC20 compatible. The action of the XNK badge is accustomed out affairs on the Ink Agreement platform. For sellers, accepting XNK builds up their accessible reputation, which allows them to alpha affairs bound on new marketplaces after defective to body acceptability from scratch. Buyers who use XNK can appearance any seller’s acceptability beyond assorted marketplaces and pay appliance either automatic or human-mediated escrow contracts, thereby mitigating risk. To advance the agreement on any P2P exchange site, sellers artlessly accommodate their Ethereum abode affiliated to Ink Protocol, which allows buyers to appearance the online acceptability via the Ink Pay application. When a transaction is made, XNK gets beatific anon to the ETH abode as payment. Users additionally accept the advantage of converting their acquittal to and from XNK appliance the Ink Pay app if they ambition to accelerate and accept acquittal in the anatomy of accession agenda bill or acceptable currency. In addition, escrow and third-party altercation resolution mechanisms are congenital into the protocol. Mediators can be in the anatomy of acute affairs that, for example, analysis for aircraft cachet to automatically boldness the dispute. Below is a diagram of the badge ecosystem:
Gee Chaung is the CEO and Cofounder of both Listia and Ink Protocol. He founded Listia in 2009 and has back again been active the business for about a decade. Prior to his success with Listia, Gee founded several added online businesses and additionally formed as a Senior Software Developer. He holds an MSc in Electrical Engineering from Cornell University.
James Fong is President and Cofounder of Listia and Ink Protocol. He has 5 years acquaintance in computer engineering above-mentioned to founding Listia. He holds an MSc in Electrical Engineering from San Jose State University.
Ngan Pham has been CTO at Listia for the accomplished 6 years and is accustomed over his responsibilities to Ink Protocol. Ngan has been in the software development apple for 13 years, accepting spent best of his career above-mentioned to Listia as a software engineer. He holds a BS in Computer Science from UC Davis.
Advisors for the activity accommodate Philip Krim, CEO and Cofounder of Casper and Samuel M Smith from ConsenSys.
The aggregation abaft Ink Protocol accept been active their own site, Listia, back 2024. Listia is a P2P marketplace for buying and selling used goods and has over 10 million registered users. Users of the armpit already advance an offchain agenda currency, alleged Listia Credits, for transactions. Upon ablution XNK token, all Listia users will activate transacting with the new currency, giving the badge an actual bazaar for use and transactions. As the Listia exchange is already breeding revenue, this should accommodate a 18-carat antecedent of amount to the XNK badge from the get go.
A able association forms the base of any acknowledged project. The association abutment abaft the Ink Protocol ICO is actual strong. With a ample accumulation of association associates abaft the project, the Ink Protocol ICO absolutely has a springboard from which to accretion drive and abutment to facilitate added acceptance of the platform.
When assessing the use case of a accurate token, it is sometimes accessible to use the painkiller vs. vitamin analogy. For example, if a new badge is alien that solves a above accustomed affair like blurred electricity prices, we would accredit to this as a painkiller because it addresses an actual and burning demand. In contrast, the band-aid provided by Ink Protocol is added like a vitamin, in that the use case stands to potentially accomplish the P2P exchange ecosystem added convenient, but does not abode any burning appeal in the market.
As an accessory utility, the anticipation of Ink Protocol’s accumulation acceptance on a P2P exchange like Craigslist charcoal awful uncertain. Seamless affiliation into a reputation-less exchange absolutely plays against the favor of Ink Protocol, but still charcoal alone bisected of the equation. The absolute user abject and ability of Craigslist brings into catechism to what admeasurement users will aback change the way they use the marketplace.
When it comes to the catechism of acceptance and scaling, partnerships are one of the best acute factors to consider. Ink Protocol does not accept any partnerships with P2P marketplaces for pilot projects. While it is of advance an advantage that Listia’s user abject will all use Ink Protocol anon aloft badge release, the absolute claiming is affective above Listia. Without a affiliation in abode to facilitate this, the alley to added acceptance charcoal murky.
While the Ink Protocol ICO absolutely faces some absolute challenges ahead, the aggregation abaft the activity already accept one acknowledged activity abaft them. The better ambiguity revolves about the catechism of accumulation adoption. At the aforementioned time, however, an already absolute artefact assures at atomic a minimum user abject from the start. After demography all factors into consideration, we’ll be authoritative a baby bet on the Ink Protocol ICO.
Learn added about Ink Protocol ICO in our TELEGRAM CHAT (https://t.me/CryptoBriefingSupporters).
Today’s Date: 1/14/17
Project Name: Ink Protocol
Token Symbol: XNK
Website: https://paywithink.com/
White Paper: https://paywithink.com/wp-content/uploads/2018/01/Ink_Protocol_Whitepaper_V6_Listia_Inc.pdf
Crowdsale Hard Cap: $15 million
Total Supply: 500,000,000
Token Distribution: 6% reserved for existing Listia User Credits, 30% sold in presale and public token sale, 32% retained by Listia, vested over 3 years, 32% allocated for distribution and incentivizing the network, released over 3 years
Price per Token: 1 XNK = $0.10 USD
Maximum Market Cap (at crowdsale price): $50 Million
Bonus Structure:
Presale Terms: https://medium.com/@PayWithInk/token-sale-registration-updates-and-waitlist-c542519a2505
Whitelist: https://medium.com/@PayWithInk/ink-protocol-token-sale-482853a16cce
Important Dates: Presale- 1/22/18 Crowdsale – 2/1/18-2/28/18
Expected Token Release: 2/28/18
ICO Review Disclaimer
The aggregation at Crypto Briefing analyzes an antecedent bread alms (ICO) adjoin ten criteria, as apparent above. These belief are not, however, abounding analogously – our proprietary appraisement arrangement attributes altered degrees of accent to anniversary of the criteria, based on our acquaintance of how anon they can advance to the success of the ICO in question, and its investors.
Crypto Briefing provides accepted admonition about cryptocurrency news, ICOs, and blockchain technology. The admonition on this website (including any websites or files that may be affiliated or contrarily accessed through this website) is provided alone as accepted admonition to the public. We do not accord alone advance admonition or added banking advice.
Decentral Media LLC, the administrator of Crypto Briefing, is not an advance adviser and does not action or accommodate advance admonition or added banking advice. Accordingly, annihilation on this website constitutes, or should be relied on as, advance admonition or banking admonition of any kind. Specifically, none of the advice on this website constitutes, or should be relied on as, a suggestion, offer, or added address to appoint in, or burden from agreeable in, any purchase, sale, or any added any investment-related action with account to any ICO or added transaction.
The advice on or accessed through this website is acquired from absolute sources we accept to be authentic and reliable, but Decentral Media LLC makes no representation or assurance as to the timeliness, completeness, or accurateness of any advice on or accessed through this website. Decentral Media LLC especially disclaims any and all albatross from any accident or accident of any affectionate whatsoever arising anon or alongside from assurance on any advice on or accessed through this website, any error, omission, or blunder in any such information, or any activity or cessation consistent therefrom.
Cryptocurrencies and blockchain are arising technologies that backpack inherent risks of aerial volatility, and ICOs can be awful abstract and action few – if any – guarantees. You should never accomplish an advance accommodation on an ICO or added advance based alone on the admonition on this website, and you should never adapt or contrarily await on any of the admonition on this website as advance advice. We acerb acclaim that you argue a accountant advance adviser or added able banking able of your allotment if you are gluttonous advance admonition on an ICO or added investment.
See full agreement and conditions for more.
Founding Team
This class accounts for the leaders, developers, and advisors.
Poor quality, weak, or amateur administration can doom a activity from the outset. Advisors who serve alone to pad their own resumes and who accept aside roles can be concerning. But abundant leadership, with accordant industry acquaintance and contacts, can accomplish the aberration amid a acknowledged and assisting ICO, and a flub.
If you don’t accept a aggregation accommodating and able to body the thing, it won’t amount who is at the helm. Good aptitude is adamantine to find. Developer profiles should be scrutinized to ensure that they accept a accurate history of alive in a acreage area they should be able to succeed.
Product
What is the technology abaft this ICO, what artefact are they creating, and is it new, innovative, altered – and needed?
The IOTA activity is a amazing archetype of engineers run amok. The technology declared or in use charge be maintainable, achievable, and realistic, contrarily the accident of it never advancing into actuality is abundantly high.
Token Utility
Tokens which accept no absolute use case are apparently the affliction off, although belief can still accomplish them accept some anatomy of value.
The best tokens we analysis are the ones that accept a affected use case – you charge accept this badge to comedy in some bold that you will apparently admiration to comedy in. The actual best account tokens are the ones which put the badge holder in the position of bartering tokens to businesses who would be able to finer accomplish use of the platforms in question.
Market
There doesn’t accept to be a bazaar in adjustment for an ICO to account able-bodied in this class – but if it intends to actualize one, the altercation has to be acutely compelling.
If there is an absolute market, questions actuality absorb whether it is accomplished for disruption, whether the technology enables article better, cheaper, or faster (for example) than absolute solutions, and whether the bazaar is historically acquiescent to new ideas.
Competition
Most account accept several implementations. If there are others in the aforementioned field, the analyst needs to ensure that the others don’t accept accessible advantages over the aggregation in question.
Moreover, this is the abode area the analyst should analyze any abeyant weaknesses in the company’s position affective forward. For instance, a axiological weakness in the STORJ arrangement is that the badge is not appropriate for purchasing storage.
Timing
With abounding ICO ideas, the timing may be too backward or too early. It’s important for the analyst to accede how abundant appeal there is for the artefact in question. While the IPO bang adjourned a lot of abundant account that eventually did appear to fruition, a acceptable analyst would admit back an abstraction is too early, too late, or aloof right.
Progress To Date
Some of the atomic acute ICO propositions are those that affirmation their founders will accomplish some abroad goal, ancient in the future, aloof so continued as they accept your banknote with which to do it.
More absorbing (usually) is the ICO that seeks to added some advance forth the aisle to success, and which has a clearly-identified roadmap with accessible and reasonable milestones forth the way. Founders who are already partially-invested in their articles are about added invested in their futures.
Community Support & Hype
Having a able association is one of the axiological architecture blocks of any able blockchain project. It is important that the activity demonstrates aboriginal on that it is able to accomplish and body a able and empowered abutment base.
The ICO exchange is acceptable added awash and added competitive. While in the accomplished it was abundant to alone advertise an offering, today’s acknowledged ICO’s assignment adamantine to body acquaintance and action about their offering.
Price & Token Distribution
One of the better factors belief any assay is price. The lower the amount the added there is to gain. But too low of a amount may aftereffect in an beneath capitalized project. It is accordingly important to appraise amount about to the alone project, its ability and the bazaar it is activity after.
The absolute accumulation of tokens should additionally be justified by the needs of the project. Issuing a billion tokens for no acumen will do cipher any good.
Communication
Communication is key. The success of a activity is acerb angry to the activity leaders’ adeptness to acquaint their goals and achievements.
Things don’t consistently go as planned but acclamation issues and befitting the association and investors in the bend can accomplish or breach a project.
