Guys so time for another ICO review, this time we will be taking a quick look at Seele which can be described as a “multifunctional blockchain that surpasses anything else out there today”. This was a much talked about ICO a few months ago. There was some FUD surrounding this project however do not let that sway you from how good this project actually is. Full disclosure, it did not sway me and I contributed via their ICO. As always this is just my personal opinion and I urge you all do your own research.

Introduction

It is of no news that blockchain tech is constantly changing and evolving; it is furthermore well known that the cryptocurrency/blockchain industry moves at lightning speed. Seele Positions itself at the “blockchain 4.0 era” which is a bold statement some peoples view, however upon researching this project it has become clear this can be justified as 4.0. Bitcoin is considered 1.0, Ethereum is 2.0, what we are being exposed to today with the mass of new blockchain projects entering the market are the 3.0 projects (Like cardano, Eos etc...), So considering most of these do not even have main nets makes Seele claim very bold indeed.

Seele Overview

Seele aims to achieve high throughput concurrency among large scale heterogeneous nodes by using an up-scalable Neural Consensus protocol. This is essentially an alternative to current algorithms out there (PoS, PoW etc...). The consensus works via a continuous voting process; the efficiency parameters can be adjusted to suit the particular environment. This gives it a huge energy advantage over other blockchains and leads to less overheads for users. According to their whitepaper this will allow them to form a heterogeneous forest multi-chain ecosystem.

The best way to describe “heterogeneous forest multi-chain ecosystem” is as follows: Consider Bitcoin and Ethereum as single chain structures (All transactions on 1 chain), this will essentially be comprised of multi chain structures. The structure will be made up of main chains and side chains which form a multi blockchain structure and is all linked together, but whilst allowing each to operate independently. This will allow the chains to be tailored to various business needs (Diversification). The forest network will have subnets which can be considered their own “hierarchical tree structure”, The top of the tree being the global service chain (Meta chain).

They will utilise a Value Transport Protocol (VTP) based off the heterogeneous network architecture described above. This protocol is a method of data transfer which operates similarly to existing internet. What amazes me is that this will allow for the use of multilevel self explanatory addresses. They will then utilise a Uniform Asset Identifier (UAI), this is important in such a blockchain as it will allow users to name assets- They further describe how this is needed due to the human need for uniqueness, cognition and memory.

The neural consensus algorithm provides linear scalability to the chain. This will allow increased performance as node size increases (Larger= faster convergence and speed). This could apply to Quick Value Internet Connection (QVIC) which will eliminate latency. It will also enhance computer integration via off-chain storage and use of smart contracts. Companies need the capability to store large amounts of data on chain (Huge size requirements). This is a solution to this. This is Seele answers to the problems blockchain faces today (Integration into society). Seele’s use of their neural consensus algorithm will provide the scalability it needs to meet this challenge.

Roadmap

2018 Roadmap

Q1 - Validation of all algorithms and functional module start-up.
Q2- Data transfer and functionality testing in test network.
Q3- Deployment and checkout of the mechanisms I described in the whitepaper topic.
Q4- Rollout to public network.

2019 Roadmap

Conclusion

What sold me on this project is that the platform will use this neural consensus protocol simultaneously between various nodes in order to shape a mixed and multi-chain forest ecosystem. What makes this project very interesting is that each forest can be utilised by organisations which in turn will run on a solitary chain. The result of this heterogeneous blockchain is the capability of providing many services to users such as security seclusion and asset enhancement within the network. This is all needed for world adoption of blockchain. They also state that transfer costs will be a minimum. Overall this will provide quicker cross-chain, agreement and transactional affirmation for users. It really is an ecosystem tailored around wanting to provide the world with a more productive way of doing things and in my mind a justified title of blockchain 4.0.

Seele- Project Overview