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After a weak Initial Coin Offering, Oyster Pearl has charged cryptocurrency speculators and message boards as the next "to moon coin." As this project seeks to developmentally solve two significant digital issues simultaneously, it's no surprise all the hype surrounding it. In simple terms, if Oyster Pearl is successful in execution the internet's current revenue-making streams concerning advertisements could be completely revolutionized.
However, Oyster Pearl's success depends on shaking off the bad taste in investor's mouths after their feeble ICO, overcoming the issues with Tangle software ala Iota, and inspring mass adoption. All this alongside the issue of their CEO, 'Bruno Block', remainign anonymous.
Oyster Pearl is attempting to mediate the conflict between advertisers and ad-blockers. Their solution is to offer websites an alternative to running ads, adding a unique revenue generating model to their websites with a single line of code. In addition, Pearl seeks to compete with SiaCoin and FileCoin, in decentralizing online storage, leveraging the Ethereum blockchain and IOTA's Tangle software. The Pearl Token serves as the lynchpin for all of this, allowing value to be generated for users and websites.
Oyster Pearl use might look like this:
Anyone wanting secure and private cloud storage of data will receive a certain amount of Gigabytes or Terabytes in exchange for a fee paid in Pearl tokens. They can upload whatever they want.
That person can then allow for their GPU and CPU to be utilized by websites that they visit. The user's device will authenticate the websites right to access the device, and allow the upload of data.
Websites participating in this file storage system will be paid directly in Pearl to incentivize them to 1) store data and 2) not run ads.
Although this seems like an exciting revenue model, possible problems could be summarized as follows.
Will the Pearl to Storage Space Fee relationship be convenient or sustainable?
Will IOTA's tangle be able to handle this level of file storage?
Will Pearls really be enough incentive for websites to not run ads?
The Oyster Pearl development team boasts an impressive collection of blockchain experience. The only real issue is the annonymity of their CEO, Bruno Block. After so many scams and phony ICO's, cryptocurrency investors have come to expect transparency from their developers. Bruno's most famous deflection of his annonymity came during a Telegram discourse, where he said the following in response to a query about his annonymity:
“(I am anonymous) because I invented the protocol and that could have political repercussions in the distant future, considering the protocol is the first to enable truly guaranteed storage privacy.”
Although this seems logical on it's face, it's still a milk toast answer that does little to inspire investor trust. However, Bruno's anonymity in no way impunes the integrity or experience of the rest of the Oyster Pearl team, all of who are public and available on their website.
Oyster has an active commmunity, with a burgeoning Telegram , active team members on Reddit , and a passionate community following.
In conclusion, the Oyster Pearl project is exciting and revolutionary. Although technical issues are still to be resolved, the same could be said of any Cryptocurrency, with the technology still so new in it's infancy. If it's technical issues can be resolved, and especially if it's anonymous creator would come forward to inspire community confidence, then Oyster Pearl could be a very aggressive competitor in CoinMarketCap's Top 100.
For those interested in learning about the new SHL token, please visit the Announcement by Pearl CEO Bruno Block for a great summary, or our wonderful Countdown & Information page.