ICO Review - Yggdrash

Today we take a break from beer to check out a novelty in crypto space. Another coin for another purpose. You gotta catch 'em all!

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Sounds strange? Well the name is a mix of two ideas:

YGGDRASIL – a mythical tree from Nordic culture (tree of life), connector of worlds.

HASH - encoding of data into a small, fixed size; used in hash tables and cryptography

A NEW BLOCKCHAIN - TRUST-based Multi-dimensional Blockchains

You may ask yourself why another blockchain? Don’t we have enough? We have so many but still no one has solved the most important issue and that’s scalability. We all remember Cryptokitties and what happened to Ethereum network when just ONE! DApp was in full use. Every blockchain out there is trying to solve the scalability problem but we think there is one that might have an answer and that’s YGGDRASH.

How it works?

• Stem Chain

Main blockchain of YGGDRASH. It connects all branch chains and store minimum information about them such as address.

• Branch Chain

Branch chain is a DApp and an independent blockchain at the same time. So any DApp connected to the network is independent and autonomous.

This kind of setup solves the aforementioned problem with Cryptokitties and Ethereum network where all DAps are integrated in the same blockchain and one Daap with high traffic can clog the whole network . If Cryptokitties were a branch chain in YGGDRASH they would have their autonomous environment with governance system to work in and they wouldn’t influence the rest of the network and cause overload and transaction failure. Also, all branch chains that are connected to the stem chain can easily transact with each other.

Whats the name of the token used?

Currency of the ecosystem is called YEED. YEED is also a branch chain (Immunity Branch Chain). When a new blockchain (branch chain) is created it uses YEED to connect to YGGDRASH network and it uses YEED to keep operating. With this proposition the amount of YEED will keep decreasing at exponential rate as there will be more and more blockchains joining the network, and we all know what that means.

What are the tx fees?

The system utilizes a Reputation Scoring System. Tx fees will be priced based on your reputation. You will gain reputation by depositing resources, spending time and doing beneficial activities on YGGDRASH network. We can compare this with credit score. Based on the credit score banks decide about whether or not to offer you some benefits like lower tx fees or best rates and most favorable terms on credit accounts.

Downsizing Data

Yggdrash introduces Akashic Records & Block Box to minimize the size of block data. It reduces efforts preparing node and shorten delay fom several days to less than an hour.

YGGDRASH will use P2P network to help with block synchronization. One might ask what happens if the part of the data is infected or changed with some virus? This is where Block Reassembling Algorithm (BRA) comes into place. It stores hashed result value of AR and BB (picture above) in YGGDRASH block and the binary data is shared over the P2P network which guarantees the integrity and security. So when a node is synchronizing it downloads the data in parallel from P2P network and then compares it with the hash values of the BRA stored in YGGDRASH block.

What does “DPOA” mean?

Delegated Proof of Authority is a self consensus algorithm that uses reputation system to select the node as a representative. In this way the POW and POS limitiations are mitigated by the fact that there are no direct monetary incentives for nodes and therefore they cant abuse the system in their advantge for personal gain (like miners do in ethereum network). The one and only incentive the node gets is reputation which grants him paying lower or no fees on the network.

The team

Token sale data

• Presale: 7th of Mar- 14th of Mar (maybe)
• Price: 0.008$
• Total Supply: 10 billion tokens
• For sales: 5 billion tokens
• Hard Cap: 40 million dollars
• Investment started with at least 1ETH
• YEED Token release date (ERC20) : May, 2018
• Start date of AML/KYC : 21st, Mar, 2018 (expected)

Summary:

YGGDRASH network is solving some of the most important issues of the current crypto space today. If successful this network could be a game changer for everything. Mainstream adoption of crypto will be accelerated by working DAaps that will finally have room to reach full potential on this network.

As this network grows, its currency YEED will be consumed (lost) over time at an exponential rate which will make the token and the network more valuable . The team behind the project is an ALL star with an former ICON Foundation team lead star Peter Ryu. Their experience and competence gives investors the insurance that they will deliver on their promise. Token metrics for a blockchain project are fair, given that the hardcap is only 40 million USD.

I can only say one last thing… SEE YOU AT THE MOON!!!

Links :

• Website : https://yggdrash.io
• One Pager : http://cdn.yggdrash.io/docs/Yggdrash_OnePaper_En.pdf
• White Paper : http://cdn.yggdrash.io/docs/Yggdrash_WhitePaper_En.pdf

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This overview was made in collaboration with @carebbear. Check out his previous work!