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All the reviews that we usually see have a lot of technical jargons and terminologies which are sometimes overwhelming for a functional person, who wants to invest in a good project/business, but who may not know the technical details much. Hence this article will give review of ICO in a way that any person, whether technical or non-technical, may be able to understand.
When checking an ICO, the main factors which I consider are as follows :
What is the project doing? Is it something new? Is it required? What is the need for it?
What is the stage of project? Do they have a MVP/test net etc. i.e. whether they have some product ready?
What is the team like? Are they capable to pull this off? Do they have some good background?
What type of people/organisations are advising/supporting the project?
Does the project have ready users, clients etc. Do they have some strategic partnerships in place?
(this is not very important, but can be seen when you plan for quick flip) Do they have hype? What is the size of community?
I did not include Github code etc in the points above since noobs or laymen are not interested in that, plus they do not understand it. So, check what community says.
So, for Quarkchain, lets start with first point :
- What is the project doing? Is it something new? Is it required? What is the need for it?
Quarkchain claims it will achieve over 1 million transactions per second (TPS). This is not easy. Till now many projects have claimed, but none has been able to achieve this. But we know that the team is targetting this, will use sharding technique which is what ethereum is also planning to use to increase their speed. So we can accept that they can build it, if they are capable. Plus it is required to bring blockchain to the forefront. To compete with VISA and to make blockchain mainstream, this is required and they might achieve it.
- What is the stage of project? Do they have a MVP/test net etc. i.e. whether they have some product ready?
They have testnet ready and are looking for testers to test. So they are working and have some product ready for testing, actually they have a blockchiain to be tested for transaction speeds
- What is the team like? Are they capable to pull this off? Do they have some good background?
Team is very balanced. Has high quality developers from Google, Facebook etc and has very good business development team as well. I find the team to be very strong here.
- What type of people/organisations are advising/supporting the project?
Advisors are also very good. Arun G Phadke is a Benjamin Franklin Medal winner. He alone can guide the team to do great things. Then we have founder of CLoudant, President of DSSD, Crypto fund Managers and experts in cyber security. The advisors are good as well here.
- Does the project have ready users, clients etc. Do they have some strategic partnerships in place?
Since it is a Blockchain project, hence it may not need partnerships initially.
- Do they have hype? What is the size of community?
Hype around Quarkchain is huge. They have a huge telegram community of nearly 79000+ and twitter community of over 13000+.
Overall, there are plus signs all over. I am not able to pin point anything which is not good about the project.
Ideally, if out of above 6, if I am able to say good about 5 points, I say the project is too good. This project have pluses in all six question. the only concern is that the target of the project is far fetched and yet to be achieved.
Hence, there is a risk involved. I find the project an all star. But I would request the readers to do their research before investing.
Thanks for reading. Do share your views in the comments.