After a long bear market, It seems coin offerings are back! But this time, it is called "Initial Exchange Offerings" a.k.a. IEO. Binance made some successful IEOs, now it is time for Huobi Prime.
Huobi Prime selected TOP Network as its first IEO, that means they have found great value in this project, which we will discuss in a bit.
TOP NETWORK
It is basically a "Cloud communication services on a high performance blockchain for real-world business", such as VPNs, video or voice calls, storage, IoT data sharing, Live streaming and much more.
and the best part is, they have already got a running private testnet!
Why is it different?
TOP has a working testnet, and I believe they will deliver their mainnet in time. Also they already have 3 working products that are going to run on TOP Network. It is flexible, it supports complex processes on blockchain.
TOP excels at:
- Capability to support complex business logic on the blockchain
- Capability to process and store large amounts of data
- Capability to process huge volumes of transactions
- Instant confirmation of transactions
- Zero transaction fees
- Secure and flexible smart contracts
dApps on TOP
TOP has a RCS (Rich Communication Service) that offers one to one chat, group chat (video or audio), file transfer and so on. So developers are able to make their own WhatsApp or Wechat or Telegram easily, on blockchain! As everything is encrypted with AES 256 algorithm, everything will be highly secure.
and there will be some dApps right from the beginning of Top Mainnet! These are already working products, and they will be moved to TOP Network seamlessly.
Dingtone: Decentralized Messaging App
SkyVPN: Decentralized VPN Service
CoverMe: Secure Messaging App
TOP also has Proxy service, Streaming service, IoT, VoIP, Storage, DNS and Billing services as well!
So we can assume that TOP Network will be used in so many dApps we use, even if we don't notice at all!
Here is a comparison between TOP Messenger vs other well known messengers like WeChat and WhatsApp. TOP messenger uses all the benefits that blockchain gives us, a real privacy and control for instance.
TOP is adjustable
"TOP Network is also a high-performance public blockchain platform designed to handle real-world business of any size or volume. Powered by innovations including three-layer network, two-layer sharding, two-layer lattice DAG and PBFT-DPoS*, TOP can process several hundred thousand transactions per second on the blockchain." (FAQ, Top Network)
Right now, existing blockchains cannot handle high volumes and transactions. As you might know, DAG architecture and three layer networks solve this issue. TOP Network does not only use DAG, but also it has 3 chain layers called: 1. Main chain, 2. Multi service chains, 3. Trusted off-chain.
So It will divide processes into different layers, which will make it a lot faster and secure, and cheap as well.
Token and Distribution, IEO
TOP token is ERC20 in the beginning. After mainnet launches, they will be swapped with native coins. (which is in Q2 2019, as roadmap says)
What about Huobi token offering?
You can check this article to get familiar with Huobi Prime. There will be 3 rounds, and it will be done in normal market UI. We will be making limit orders.
You can take a look at TOP IEO details here:
| Token Name: | TOP Network（TOP） |
|---|---|
| Total Token Supply: | 20,000,000,000 TOP |
| Prime Trading Allocation in Total: | 1,500,000,000 TOP (7.5% of Total Token Supply) |
| Prime Trading Allocation in Each“Price Limit” Round: | 300,000,000 TOP, 450,000,000 TOP, 750,000,000 TOP |
| “Price Limit”：The highest tradable prices during the three“Price Limit” rounds are : | 1 TOP=$0.00177, $0.00213, $0.00255 (Prices in HT will be announced on the day of the Prime Trading) |
| Prime Trading Session Start: | 2019/03/26 21:00 PM (GMT+8) |
| . | First “Price Limit” Round: 21:00:00—21:29:59； Second“Price Limit”Round: 21:30:00—21:59:59； Third“Price Limit”Round: 22:00:00—22:29:59； |
| Individual Cap: | 1000 USD equivalent HT for each account |
In Conclusion,
I believe TOP Network has a real life use case, and it already has dApps coming, and tesnet running. Also I must say, Initial Exchange Offerings are the next big "thing" in crypto universe. I expect these (at least the ones in decent exchanges, like Huobi) to succeed at a point. Of course people will decide when/what price to buy or sell, but I think this IEOs might be a good opportunity for us.
Not an investment idea, I am just reviewing projects, sharing infos about them. Please do your own research before investing in IEOs, which are highly risky just like ICOs.
Thanks! See you in another review.
bitcointalk id: renemagritte
telegram: @ rene_magritte