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Blockcloud .. A structure that provides a constant connection to dynamic networks

2018-08-06 04:54 pm | Resource: Crypto Section | No Views : 129

Blockcloud .. A structure that provides a constant connection to dynamic networks Blockcloud is one of the communication projects in the technology of blockchain. We will talk about it in detail today, by explaining the nature of the project, its aim, the team, and the road map, and provide an estimate of whether the project is successful or not.
Project name: Blockcloud
Token symbol: BLOC
Website: https://www.block-cloud.io
White paper: https://www.block-cloud.io/blockcloudtechnicalwhitepaper.pdf
Hard cap: $15 million (investors will own 20% of the total token supply).
Conversion rate: 1 BLOC = $0.008
Maximum market cap at ICO on a fully diluted basis: $75 million.
Bonus structure: TBA.
Private sale / white list: The private sale is over. Tokens from the private sale are subject to a lock up period: 20% of the tokens will be released before exchange listing. Two months after listing, 10% of the tokens will be released per month. Whitelist details TBA.
ERC20 token: Yes (the tokens will be migrated to the mainnet after it is launched).
Countries excluded: TBA
Timeline: The whitelist and KYC registration is tentatively scheduled for launch in August 2018 (please visit Blockcloud’s website and join their Telegram channel for the most up-to-date information).
Token distribution date: TBA

What is Blockcloud?

Blockcloud is developing the advanced TCP / IP protocol, which will be based on the technology of blockchain and based on the service.
The proposed solution includes the Networked Service (SCN), a new type of network architecture that allows applications to connect using service names instead of addresses.
Its solution is essentially a set of networking protocols that will continually connect network providers and users while solving the weak communication, scalability, and security issues in the IoT industry today.
This chart illustrates how SCN and blockchain technology can be used for its various advantages:
The use of both SCN and blockchain technology for its various advantages

Blockcloud structure consists of four layers:

Transaction Layer Layer: stores network encrypted transactions as a global ledger.
Service Chain Layer: Determines new processes without having to make changes to the underlying plaque. This layer also contains Blockcloud, which allows users to bid for a variety of services.
Routing Layer: Responsible for the task of routing requests, such as discovery services. Because the routing layer is separate from the service layer (unlike the usual web services), Blockcloud allows multiple service providers to coexist.
Service Layer: Serves the actual network services. The network will use POS to ensure the reliability of the service, with the help of network investigators.
This chart illustrates the structure of layers in Blockcloud:
Layer structure in Blockcloud

How advanced is the project?

Parent company of BlockCloud, is Shenzhen Oudmon Technology, a smart home / smart clothing company serving millions of users in China, with more than 100 partners, including Ping An Group, China Mobile and Tsinghua University.
Oudman has worked in internet business things for the last six years. The company has introduced applications for more than 80 patents and has connected more than 8 million devices.
Blockcloud is still under development. The testnet is currently scheduled to be launched in the second quarter of 2019, and it is planned to launch the mainnet by the second quarter of 2020.

The Roadmap

Q3 2018

Independent node based on PoS development completed
Developer community established
Partner selection completed

Q4 2018

Minimum testnet for CoDAG, PoS and double auction mechanism development completed
Algorithm & code quality optimization

Q1 2019

Integrated development
First commercial application scenario launched
Networking API & Mobile SDK development
First batch of application developer partners

Q2 2019

Testnet launched
Participation of major IoT chip enterprises
Open-source API & Mobile SDK released
Algorithm & code quality optimization

Q2 2020

Mainnet launched
On the business development side, the Blockcloud team and its advisors have already started collaborating with various universities and companies and have reportedly secured over 30 partnerships via its parent company, Oudmon. 
Those that may potentially use Blockcloud include the China Education and Research Network (CERNET), Tsinghua University, the Hong Kong Polytech University, Oudmon, WTC, and so on. Blockcloud is also in the process of building a strategic partnership with Wave.
With help from the Chinese universities, Blockcloud will be promoted to the Internet Engineering Task Force (IETF). The IETF is an international group that develops and promotes standards for the Internet, such as the Internet protocol suite (TCP/IP). Fred Baker, a former Chairman of the IETF, is one of the advisors supporting Blockcloud. 
In regards to the collaboration with CERNET, the network will be supporting the project by testing, deploying and adopting Blockcloud. CERNET is China’s first education and research computer network and is one of the four major Internet networks in China. 

Tokens which used and valued

BLOC is the network token and is used to enable a market driven by incentives for Internet services. There will be four main participants in the network:
Service providers will post services to the market and will be rewarded with BLOC codes based on their level of contribution.
Service users subscribe to services provided by the market and pay BLOC codes for Internet service consumption.
Miners keep the Ledger service and protect the network from attacks by using the Ledger Window Compression Chart Diagram (CoDAG) to achieve consensus. A mining factor that generates a stable block will be rewarded with BLOC symbols. Mining bonuses will be issued at an annual rate of 5% over 6 years.
Investigators ensure the quality of the services provided and help the system determine whether the service provider should be rewarded or penalized. BLOC tokenizers are rewarded for verifying services.
Blockcloud will benefit from various mechanisms such as Proof of Service (POS) to verify the services and the TCDA to distribute the services fairly.
Using this model, buyers can gradually pay bets to the service provider for verified services and avoid the risk of losing money if the vendor leaves the network before consuming the agreed amount of service.
BLOC symbols should be valued as more participants join and use the network, which in turn is driven by factors such as ease of use, pricing, mobility, and security.

Team Work

According to LinkedIn, the Blockcloud Company was established in December 2016. The core team is currently comprised of 12 people. The biographies of the key team members are summarized below:
Zhongxing Ming, CEO – Assistant Professor at Tsinghua University. Previously the CTO of Shenzhen Oudmon Technology Co. (a consumer electronics company) and a Visiting Research Collaborator to Princeton University. He obtained his Ph.D. in Computer Systems Networking and Telecommunications from Tsinghua University in 2014. 
Shu Yang, Chairman / SCN Lab Principal – Currently the Chairman and Service-Centric Networking Lab Principal of Blockcloud and an Associate Professor at Shenzhen University. He obtained his Ph.D. in Computer Architecture from Tsinghua University.
Dai Pan, Co-founder / COO – Co-founder and currently the COO of Blockcloud. Previously the COO of Shenzhen Oudmon Technology Co. He obtained his Master’s degree in Computer Science from Peking University in 2013.
Blockcloud currently has 16 people on its Technical Advisory Board. Advisors include Fred Baker, former Chairman of the Internet Engineering Task Force (IETF); Linghe Kong, a professor at Shanghai Jiao Tong University; Sheng Zhong, a professor of Nanjing University; and Haibin Kan, a professor and doctoral supervisor of Fudan University.
The project has an additional 5 people on its Business Advisor Board, including Hoan Soo Lee, former Economist of the White House Council of Economic Advisers; Roger Lim, the Founding Partner of NEO Global Capital; Sandra Wu, Managing Director of Origin X Capital; Andre Kim, founder of Blockchain I; and Alex Likhtenstein, a blockchain investor and advisor.
Investors of the project include Genesis Capital, OK Blockchain Capital, Kucoin, Neo Global Capital, JRR, BlockVC, GBIC, and more.

Opportunities

The team has a technically strong background (the core team has a lot of academic background and many of their advisors are professors) and in business development (ie already built different partnerships, they created that smart company / smart clothing company).
Cooperation with various universities and CERNET can lead to fast adoption / good attractiveness.
IoT is a fast growing industry. According to the group, "the number of Internet devices increased by 31% year on year to 8.4 billion in 2017, and is estimated to increase this number to 30 billion by 2020." "Inbarbar Annabel, a specialist data mining company specializing in destructive technologies and digital innovations, expects the global Internet market to grow from $ 157 billion in 2017 to $ 457 billion by 2020," they said.

Interests

No MVP certificate will be launched yet, and even the actual testnet in the second quarter of 2019. Mainnet will not be until the second quarter of 2020.
Only 20% of the total codes are sold in the ICO, which is in the low side.

Conclusion

Flipping: The project has a low ceiling and a great awareness of the market. The idea and the team are solid. Presale participants have a long prison term, which makes the initial rolling width fairly low.
As many stock exchanges have invested in the project, so we should not have trouble listing badges in decent stock exchanges. Therefore, we believe that there should be a lot of unmet demand after you insert the tokens.
For a long term contract: With the strong technical team and the advisory board, we believe that the team has a good chance to finish this ambitious and highly technical project.
The potential of SCN and the Internet industry can be things (which no projects operate on this unique combination of our knowledge) is great.
Note that it is not scheduled to launch the network until the second quarter of 2020, which is remote. However, we believe that the positives exaggerate the weight of negatives such as the long-term prospects of the project.

For more information about the project

Website: https://www.block-cloud.io
White paper: https://www.block-cloud.io/blockcloudtechnicalwhitepaper.pdf
Telegram: https://t.me/Blockcloudteam
Blog: https://medium.com/@BlockcloudTeam
Twitter: https://twitter.com/BlockcloudTeam

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