Seele - Blockchain 4.0

in #seele2 years ago (edited)

What are the different generations of Blockchain?

  • Bitcoin - First generation of block chain, a distributed decentralised ledger of transactions. Capable of 7 TPS
  • Ethereum - Second generation of blockchain. With this layer we are able to build smart contracts and run decentralsatised applications using the ethereum virtual machine. Capable of 14TPS
  • EOS - Third generation of blockchain, this evolution primarily has scalablility factor for real world use case's. High Performance, Advanced governance, Improved consensus capable of running large decentralised applications . Capable of 100,000 TPS
  • Seele - Blockchain 4.0. The new ERA of blockchain technology, a neural consensus algorithm able to scale the network linearly with Node size. And a on-chain off-chain system, bringing the world of value to the Internet. Capable of 1,000,000 TPS

Ambition

Seele has been extremely ambitious with this goal, to create a new block chain with the goal of main stream adoption, able to run thousands of dAPP's. Currently Ethereum is the most used Smart contract platform. But the platform is unable to scale with demand. One notorious dAPP was able to bog down the entire ethereum network making it un-usable. (Crypto Kitties). This is unacceptable, especially dealing with highly valuable assets.

The severe bottle necking which ethereum has (14 transactions per sec) Is simply not ready for mainstream adoption. That is why Seele has created a new consensus mechanism .

What is the Neural Consensus Algorithm?

This mechanism has been based on the human brain. As Dr Wei Bi elegantly put in one of the lectures at San Francisco, the brain has a complex network of neurons, dealing with millions of synaptic connections. Which allows us to process large amounts of sensory information with almost instant finality. i.e moving your hand away from a hot plate.

This is the Premise, behind the consensus mechanism, having a large number of nodes in the network, that will be able to agree or disagree with block produces. As the number of nodes increase in the network, the capacity of Seele (transactions per secound). Will scale linearly.

Why is it important to scale linearly? in the coming years, block chain technology is expected to revolutionise just about everything in the world we live in, from dAPPs to Finance, Artificial Intelligence, and just about everything in between. By creating a blockchain that can scale as node size increase's. Seele will be able to meet demand from users year after year, without running into bottle necking fears or decreased network performance.

Key Features of the Neural Consensus Algorithm Include:

  • Safety
  • Compatibility
  • Flexibility
  • Effciency
  • Energy saving

Another major advantage

Blockchain 1.0/2.0 (Bitcoin/Ethereum) use's the Proof of Work model, It is estimated that with today's computing power, the last bitcoin to be mined will use in excess off a Billion dollars worth of oil. In the age of Global Warming, it is not acceptable to build projects without this factor in mind. Seele will use limited resources as the Proof of Stake models do not require any mining from large scale equipment.

Heterogeneous Forest Network

This title is a mouthful, but if we break it down we get Hetero meaning different, Forest meaning many trees, and Network meaning to communicate.

With this in mind we can determine that Seele will have many subnets, these will be specialised for their particular roles, and adapted to carry out scenarios such as Healthcare,Finance and AI. These make up the Trees in the forest, and they are different "Hetero". Lastly these subnets are able to talk with eachother through cross chain interactions. This as a whole makes up the main network of Seele.

Key Features of the Heterogeneous Forest Network:

  • Extensive Service Coverage
  • Cross-chain & Cross-domain
  • Secure and Efficient

Seele Has a Truely Global Presence

This can be tied into the ambition of the Seele Project. They understand the implications of what they are creating, and it will be used world wide. The team have already performed conferences in San Francisco, and London, with Australia occurring later in the year.

The Team has:

  • HQ - San Francisco USA - The tech hub with some of the best talent in the world.
  • Shenzhen, China - While the Chinese government are approaching block chain with some trepidation. Some of the best talent is also here, this is why the team has set up Engineering departments here.
  • London, UK - The link between the east and the west, Application and Ecosystem will be in development here.
  • Singapore - Graph computing research team.

Road Map

So what can we expect in the coming Quarters?

  • Q2 2018 Test Net published.
  • 2018 Q3 - Test core functionality and optimise performance
  • Q4 2018 - Main Net released
  • 2019 Q1 - SDK and development support.

This is a very fast road map, to go from white paper to full functioning block chain with the scope that seele has set out from the start, is very impressive . We are approaching the test net and a lot of eyes will be on Seele, Q3 we can expect the main net. And as early as next year we can anticipated dAPPs being built on top of Seeles protocols.

Token Economics

Right now the token serves as a placeholder, to be exchanged for Seele coin on Main Net Launch, Expected in Q3 2018.

The token is Available to Buy on HADEX, which is part of the Huobi network, Seele actually won the voting to be listed here which is an extremely strong first exchange to be apart of! The released Schedule of the tokens, was pegged to this day May 29th!


May 29th 2018
Circulating = 460 million Seele
Total Supply = 1000 million Seele


3 Months later
Circulating = 620 million Seele


6 Months Later
Circulating = 1000 million Seele


With todays market circulating supply and the Price of the Seele Token at $0.21, it puts market cap at $96million, which seems very undervalued considering what the Seele platform is offering.

Conclusions

While this project has been going under the radar, I cant expect it to stay that way for long. By the time Seele show what they can do during the test net. It may be too late to get in as this rock bottom level. I think the price is more then fair around 21 cents per token as of writing this. If we look at Ethereums Market cap, there is plenty of room for growth. Seele is aiming to be the best performing block chain with innovative scaling technologies. So the implications are Huge!

I am following this one closely, and look forward to looking back at this blog post, confirming my early suspicions that Seele is on the path towards success. With a Strong Team and solid fundamental technology!!

Seele offers a new Era of Hope for Blockchains of the future!!!

Thank you for Reading, if you got to the end i reward you with a meme!

Disclaimer : All investing is speculative. This isn't financial advice. Just one man's opinion of a complex fractal world with infinite variables, affecting the system, at exactly the same time.

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Love the meme picture at the end haha, got to love the death star in their at the back!

Yeh, figured it was a nice touch at the end!

Not heard of this one, but its on my watch list for sure now. May pick up a few for the next bull run!

Yeh for sure, honestly compared to whats out there, this should be a billion dollar coin easy i reckon!

Btw Main net is anticipated at the end of this month!

I wonder where this will be in a year.

a lot higher than it is now for sure :)

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Good summary of the Seele project buddy! Upvoted - Check out my post describing why Seele may do well in the IoT segment - https://steemit.com/seele/@magpielover/why-internet-of-things-iot-needs-a-blockchain-like-seele

Done thanks for stopping by!