Crypto Ocean ๐ Secret Tokens of the Deep Sea No. 4 ๐ฎ
Hello Steemit friends,
out there are many lesser known projects with small caps (market capitalization) which sunk like sea anchors after the Altcoin crash together with Bitcoin. These Altcoins look still relatively weak compared to the rebound of BTC. I wanna dive with my submarine to look for such potential treasures.
Today's pick is Achain
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What is Achain?
Simply put it is blockchain as a service (BaaS) and support projects or companies who don't want create a own blockchain. So it provides all the blockchain infrastructure which makes it a lot easier for regular companies to adopt blockchain technology. Achain was founded by the Chinese Tony Cui you can see in the following interview:
Interview with Achain CEO Tony Cui & Kyle Lu by BlockchainBrad - video by BlockchainBrad
Achain's website shows currently 10 active projects and many more are in the pipeline.
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One of them is the promising Pundi X project what immediately got my attention and i wanna highlight in a separate post. Another dapp is the counterpart to CryptoKitties.. CryptoDogs.
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Hehe! nice dog.. but why i'm Wang? ๐ .. each time i see one of these dapps i must laugh..
That is a first plus and it's not surprising because the project launched already 2015 long before NEO in China and obviously did something productive.
But now let's look at some numbers on coinmarketcap.com
Achain in numbers
Rank 125, market cap is moderate with about $118 million and a circulation of about 300 million ACT.
ACT had a heavy ride like many Altcoins in the last weeks and months. It had a low of $0.04 in October 17 and went up in the spike to $1.37 which is about 34-fold increase and crashed then to $0.24 which was still a 6-fold increase and is currently at $0.39 which marks a 10-fold increase from the October-low.
Above you see that the relative Bitcoin value is decreasing recently which should be not concerning in the short term.
What about the Tech?
The first video above contains many interesting facts but here a short summary from me: Achain a Generation 3 development like EOS and supports sidechains and hardforks. Each fork can communicate with all other forks and the main chain. Each chain can currently handle 1,000 transactions/second. The following video explains some tech stuff:
What is AChain (ACT)? [CRYPTOCURRENCY REVIEW] - video by CryptosRUs
That's quite good in comparison to Ethereum with about 15 transactions/second (current stage). But there are other projects who claim much more like Ziliqa and also NEO in the future with Trinity or look at HPB a special solution with hardware acceleration. Soon it will be no more a unique selling point but the potential for dapps with it's own sidechain is quite high and promising.
The whitepaper is written quite high level for basic understanding which i appreciate, because as a BaaS it should talk to potential customers too.
Why it's a underdog
Achain simply made no marketing efforts in the beginning, especially in western regions. Nowadays they reach out for foreign markets. With 4 years of development and a bunch of working projects it should be also a catalyst for the market value in my point of view. In January they got listed at Huobi.pro and Okex which are quite big exchanges, thanks to the developed ATP (Achain Token Protocol)
The roadmap shows interesting next steps:
With Singularity Achain wants to improve security and stability via smart contracts, digital assets and sandbox simulations in Q1 2018.
Strong Team?
In the video-interview with CEO Tony Cui he talks about 40 developers and a huge community behind, which sounds quite good. But the website reveals no further info about that. I found a hint on bitcointalk.org.. where Q&A says
Q: Would it be possible, especially for the international community, to obtain more information about Achainโs team and investors?
A: Yes. We are planning on upgrading our current official website to incorporate in more detailed information in this regard. We definitely have kept a complete record from our old and new clients from the past.
I hope they deliver more background information in the future because it will reduce uncertainty massively.
Bitcoin + Achain = ABTC?
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Yes it's true, Bitcoin technology mixed with Achain. This project aims to be many things like speeding up transactions, smart contracts, AI, big data, gaming and also IoT. ACT owners got something like a airdrop out of this. It shows how different blockchain projects melt together to try new things and improve the technology.
Conclusion
What i like
- infrastructure blockchain
- already well known and running projects for the BaaS
- quite under the radar in the western world, no hype coin
- moderate market cap, not in the top 100
- promising and clear roadmap
- experienced, since 2014 in crypto space
- innovative fork interoperability
- clear minded and honest lead
- firing for many other projects
- mobile wallet for iOS and Android
What could be caveats?
- quite unknown team, typical chinese phenomenon
- contenders with similar or maybe better technology like ARK, NEO, ZIL,..
- maybe waited too long for marketing
- rumors about manipulation in inception phase
What do you think of Achain?
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see also my other posts
Exciting times ahead steemit friends!
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I am very impressed with your work!
Love the whole article, I will resteem, upvote and share it on twitter, the main Achain Telegram community LinkedIn.. Etc
Lets have a chat, regarding writing of articles about Achain, you've done a great job, we have a small reward pool based on views, founded by Achain Blockchain
Join me on Discord and dm me please
https://discord.gg/FdquJJp
Thank you for your invitation and resteeming! It's a pleasure to get such feedback, i'll look into your Discord channel.
This is probably the best from those who you proposed. Just one concern. A coin with so high circulation (almost a billion) is it possible to reach high?
I mean i see good background there but i would like your opinion on that
Yes, it is a concern for me, but because it's a infrastructure coin it has a lot more potential than one dApp coin. Infrastructure can easily reach $1 billion or more of market cap if it shows real mass adoption with many sidechains. On the other hand we see many contenders emerging, competition increases. It depends on the moat a project already has and how it evolves, how flexible the architecture is i think. Thank you for the interesting question!
Thank you for your answer. Thought you wouldnโt.
Sure the competition is high and they didnโt promote it as they should have but circulation is an issue for me...we ll see though. Seems good choice with low risk
Achain has amazing blockchain technology, check it out, I am their European Community Manager
You provided excellent blockchain proposal via your crypto ocean series. It's best service to steemians. We have to know more cryptocurrency info. But your work highly appreciated. I've never heard Achain and I'll check it out.
thank you @kingsberry, i'll continue as long i see great projects out there!
not a pump and dump coin for sure its on a stable growth for a longer period of time perfect time to jump in for the quick profit with time
Yes, agree, that is such project where you can go to bed for 10 years and eventually wake up as millionaire.. and see amazing things achieved by the people behind.
@onetin84 you do a lot of research and then write this posts amazed with the kind of information you give potentially this coins are best and over time it will grow and its similarly the market cap would also grow
i hope they can reaping the rewards of the hard work and with them all patient investors. Thanks @sid9999!
they are working on all the front of it so it has got way more advantage than other simply i can say a diamond you have found from the rough
i like the low-keyed CEO who focuses mostly on tech.. if that would be the case for all projects, 10 years for blockchain mass adoption saved. Thank you!
Upvoted and resteem.
thank you for your following @sizuka your profile pic is burned-in my brain forever now ๐ STEEM ON!
Onetin84, You were nicely explain Achain tokens with compare market cap and price charts. I have felt Achain would be awesome. Excellent review and analyze very easy to understand better. Thanks for giving extra information.
Thank you, currently i think it is a very serious and promising project with an edge over many new projects. The people behind are well grounded and is fun to watch the conversation with the CEO which patiently takes every question.
Excellent strong team i found it and the prices looks very cheap to be honest currently this is going to be epic
It should be a bit more clear who is behind beside the CEO and Kyle Lu. In this case i see very low-keyed persons who think of constantly improving their tech.. price is just self-fulfilling prophecy in the end, hope so.
Achain is sure promising and the things they are promising that is indeed quite great !Nicely picked buddy !Their team behind it seems real promising though !
Thanks for the update on this one buddy !
Especially their calmness impresses me. They just go their way, don't care about FUDers, competition because it makes no sense to waste time with this.. straightforward in the roadmap! Thank you!
That's what make them special :)