RECORDSKEEPER: An extensive review on how this project will change the data management industry
RecordsKeeper is one of my top project of 2018!
HOW DO YOU KNOW IF THIS PROJECT IS LEGIT AND NOT JUST A QUICK CASH GRAB?
Everyone should always DYOR ( Do your own research ) For introduction, you can read the details on their website ( https://www.recordskeeper.co/ ) The project is still on their Presale stage with up to 50% bonus of 5000XRK/ETH with minimum contribution of 50 ETH and will last only until September 6, 2018. Based on their whitepaper the team and founder will have 20% of total supply which amounting to 60million tokens. I think the team should have locked up period for this, or segregate the distribution gradually. I think the token metrics is normal and equally distributed and fund usage higher allocation is for development of the blockchain which is good. Thumbs up for that. Regarding the question? I think the team are not dumb to run away with money invested here. As I've checked the Founding members are totally legit and not an anonymous people.
Furthermore, their work speaks for itself. Their github is outstanding and already piled up. Their github is insane. They have a solid MVP, serious dapp with a smooth UI. Seriously, if you like good code, check that out, and let me know what you think! Here is the link to their github. https://github.com/rrecordskeeper
(Image taken from RecordsKeeper website)
ALRIGHT, BUT WHAT MAKES THIS PROJECT DIFFERENT FROM OTHER COINS WHICH HAVE A GOOD CODE, SOLID TEAM AND A USEFUL CONCEPT?
So many, First, their platform, is being built in a multichain technology. It's not a blockchain, it's a key value pair database running on a blockchain. To easily explain this, it's a combination of database, storage and blockchain. For so many reasons, blockchains have struggled with scalability. Arguably, blockchains scale fairly linearly thus far. XRK doesn't. I will admit that I need a lot of learning to do about their tech will use here but the reading I've done on their whitepaper really excites me. Oh by the way, here is their whitepaper link just in case you wanna review it as well.
https://www.recordskeeper.co/whitepaper
Also, Recordskeeper will provide a decentralized ledger with hardened security and authenticity that will verify and transact data and records send to their blockchain. What does it different with other project? RecordsKeeper using a traditional consensus of PoW ( Proof of Work ) which rely only on the miners to confirm the transaction. RecordsKeeper will embed permissions according to consensus to where additional miners will be added directly to the system when other group of miners agree. But in the future they will migrate their system into POS ( Proof Of Stake )
The project although isn't being shilled all over social media, you can see by reading the objective of the Team to build an added value on the blockchain in the field of data management.
HOW COME I DIDN'T HEAR ABOUT THIS GREAT PROJECT BEFORE?
Interesting question. Maybe I wasnt fully attention. Firstly, the ICO is running approximately more than 2 months and not many ICO rating sites listed this project but gladly many sprout to give marketing overview of the project. Type recordskeeper ico on google and you will found few ico site such as following:
https://icorating.com/ico/recordskeeper-xrx/
https://www.icotokennews.com/icos/recordskeeper/
https://icocrunch.io/ico/recordskeeper/
Now, I believe the ICO went unnoticed by the majority of crypto community and ICO crowd, because there are no backroom deals, zero pooling or commissions, and NO big-name advisors were hired with a promise of a massive % of supply as seems to be the standard (Look at the commissions some of the top ICO advisors take. It is an absurd cash grab and an insult to intelligence of the larger cryptocommunity). Precisely, you cannot trust all ICO rating sites which uphold high rating where amount of payment to the feedback was sold. Better to knock out the project by your own keyboard and analyzing skill to prove that the project worth attention by many.
There will be no benefit to gain by crypto syndicates, ICO advisors, crypto thought influencers, ICO reviewers, or others who do their own due diligence in researching upcoming projects in spreading awareness of this project before the ICO closed. Instead, they were incentivized to NOT mention this amazing project because the softcap was miniscule and there are so many bullish, great factors about this project I have yet to discuss about. I'm not an Advisor to this project for giving to much praise and will not paid by the team thousands of USD but clearly I've been caught with their project. Piece of advise on the readers out there.
Do your own research, ask many why they are shilling a project? or hence supporting it with all their might. That includes me discussing about this project. I encourage you after reading this to dive in and do your own research and be critical of my thoughts on it. Don't FOMO blindly, please. Make an informed decision to invest or not or to keep your eye on it.
WHY THE TEAM DOESNT HAVE MANY MARKETING STRATEGY TO RAISE AWARENESS OF THIS PROJECT?
Ask them yourselves. Their telegram group consist of incredible people who will answer and response with you. Check them out here: http://t.me/recordskeeper very open, approachable, transparent, and down-to-earth community managers. They are geeks at heart. They love tech. The founders have been working on this project for a long time. The concept and idea has been formulated in relation to growing problems in blockchain. Yes, you heard me. This is not a cashgrab by some half-assed dev team. They want to make something different and life-changing, and revolutionary project here. They are making a new platform like bitcoin, and other known coins that was arguably meant to be, but broader in scope and much more efficient. Cost efficient, and improve scalability.
WHAT IS NEW ON THIS PROJECT AND DIFFERENT FROM OTHER STORAGE SYSTEM?
Their platform focus is to consistently lay weights on the speed and efficiency of transaction by combining several nodes to verify each transactions while being added in a new blocks of the. blockchain. These nodes will verify new data into the RecordsKeeper system. Usually, in a traditional database system, modification will work on altering files but with Recordskeeper blockchain, data is cannot be tampered as they promote highly security on the son their blockchain ledger like a decentralized system. The most nearest , project with same concept with Recordskeeper are filecoin, repux, siacoin and new project datablockchain (still in ICO) all have great platform and system. But the advantage of recordskeeper is their blockchain ledger can utilize transaction size to store data without any third parties. Unlike mentioned projects aboved that used other hard drives to create network of storage. By using recordskeepeer ledger you can save storage spaces without relying on other third party app or system.
(Image taken from RecordsKeeper website)
WHAT'S THE USE OF RECORDSKEEPER IN SIMPLE TERMS? AND WHAT'S ALL ABOUT THEIR PROJECT?
This is what exactly you need to read to grasp what their project all about. I will simplify this as possible so you can understand well even you're not a coder or a geek person. Okay? Recordskeeper will let you upload data onto their blockchain ledger provided it should be on a key-value pair format. What's this? it will work by using a key plus your data. Different data are allowed such as JSON, XML, HEX. even simple text format. The maximum per transaction should be 2MB per upload or if you will retrieve it. Basically, all data file can be uploaded all but this is not recommended since they have set a limit so you can have a efficient transferring plus you will not like the fee once a large raw data set will send right? All bloockchain specifications are well recorded in their website and whitepaper. Feel free to scan it. ( Don't expect me to give all info about their project this isn't a thesis paper but an overview)
WHAT IS THE ACTUAL VALUE OF RECORDSKEEPER COIN?
As mentioned on my introduction, they are currently on presale with a price of 5k coins/ eth. So approximately 0.2 to 0.3 USD but this is just their pricing and not yet known the true value unless it gets listed on an exchange and being traded. It can be lower than the ICO price or can be higher, but for me personally, I will likely cash my XRH coin investment at 10x margin. Plus this can be mined so theres no burden for me if I sell some of the portion If it gets much too high, and keep the rest. We dont know maybe this coin can be like bitcoin and you will remember when you sold it on a very cheap price.
ANNEX ( TEAM AND THEIR ROADMAP)
TEAM OF RECORDSKEEPER
(Images Source: RecordsKeeper whitepaper)
RECORDSKEEPER TIMELINE AND ROADMAP
(Images Source: RecordsKeeper whitepaper)
LAST BUT NOT THE LEAST, WHAT CAN YOU EXPECT ON THIS PROJECT?
I've witness so many scam ICOS in crypto, so many projects with unfulfilled promises, unethical ICOs, so much backroom deals, FUD, and speculation. But with my thorough research, I think this is a good project and the team is dedicated to fulfill it. I want to share with the cryptocommunity this project that worth your time and attention.
DISCLAIMER: This review is my opinion
of the project and should never be taken as financial advice. As a trader/investor you should always consult your financial advisors before investing.
You can visit them for latest update on their telegram group channel and official website.
Official Telegram group: http://t.me/recordskeeper
Official website: https://www.recordskeeper.co
Creator of this article:
https://bitcointalk.org/index.php?action=profile;u=1269701
https://steemit.com/@etherium24
eth address: 0x2981f6554aC5519Fec7ba96a3A799d81C683199C