Exploring the future of Blockchain
Seele, aims to solve the trilemma that face’s blockchain technology, by utilising a new innovative consensus mechanism called Neural Consensus Algorithm! What is this trilemma?! Scalability, Security and Decentralisation. For instance Ripple (XRP) is a very fast blockchain (thousands of TPS), but it is very centralised! This is not an ideal solution! As it’s not really any different from the centralised power structures that exist today.
Seele wants to achieve 1 million + transactions per second (TPS), But why is this important? If we want to achieve mainstream adoption of crypt or utilise IoT technologies, it must be robust and withstand heavy network usage without interruption!
Ethereum was brought to its knees recently by one infamous dAPP, Crypto Kitties! This will be unacceptable for main stream adoption. Which is why I applaud Seele for being extremely ambitious and taking on the challenges that blockchain faces.
Neural Consensus Algorithm
Seeles new consensus mechanism will allow them to achieve a highly scalable blockchain solution! The performance across the network will be accelerated linearly as node size increase’s. This will allow Seele to scale on demand, as well as be use-able for multiple industries at the same time! Finance, research, healthcare, will all be able to leverage the power of blockchain.
Seele will require a high throughput network for their Forest Network to operate.
Heterogeneous Forest network
You can envisage Seeles network, as a tree like structure with many branchs. For instance, one branch could handle finance, another economy, and another research. These branches are all part of the same tree, and can interact with one another through Seeles-cross-chain-protocols. This is a fancy way of saying that the different parts of the network can talk to each other, and is essentially how a network operates.
Seeles hopes by building a network with many subnets, they will be able to provide services for a wide array of operations, while still combining security, and efficiency at the heart of the project.
Aggressive Road Map release!
Seele have one of the most aggressive road maps I have ever seen, if you look at most projects after the ICO, you have to wait a year, just for their test net!
Seeles has only just launched on Hadex Exchange, and we can already expect their test net at the end of June! With their Main net up for publishing in Q4. Following the Main Net launch, dAPPs and alike will be able to start building on the Seele network. Seele will provide the support tools necessary to make this transition as seamless as possible.
Seele has created a global team with offices across the globe, including San Francisco arguably the tech capital of the world, Shenzhen China, London UK, as well as Singapore. It is not enough in todays crypto space to just create great technology. It needs to have real world use case’s, and be put out there to the world. By developing Global Presence, it will be easier for seele to cultivate many opportunity’s and partnerships moving forward. As well as reach out to some of the best and brightest staff!
That team have also held 2 events in San Francisco and London, explaining the tech, with speakers from the team. This gave greater insight into the teams vision. And I highly recommend anyone, interested in the project to check them out.
This is a video of the highlights from the event! You can find the rest of their talks on the Seele Tech channel!
It’s a little complicated so I will walk through it, then summarise at the bottom:
At the moment the Seele ERC20 token is a place holder that will be redeemable for Seele upon main net launch later this year in Q4. 2018/09/30
485 million tokens of the total supply were available for sale
1000 million Total tokems
Circulating supply = 160mil (private investor 40%) + 62.5mil (public sale) + 237.5mil (Seeles side of the Tokens)
So 460 million seele tokens are currently circulating post ICO (June 1st 2018)
Three Months later another 40% (160million Seele tokens) will be released
Taking circulating supply up to:
620ml Seele Tokens
3 months after this the final instalment of the presale will be released 20% (80 million).
This combined with the main net launch, another 30% (300million) of tokens will be released
So 6months post first exchange listing we can expect:
1000 Million Seele tokens!
This number leaves plenty of room for long-term growth!
June 1st 2018
Total Supply = 1000 million Seele
Circulating = 460 million Seele
3 Months later
Circulating = 620 million Seele
6 Months Later
Circulating = 1000 million Seele
I hope this goes some way to clearing up misconceptions about the metrics!
Currently Seele is only available on IDEX (decentralised Exchange) and HADEX (a branch off the Huobi exchange). It was impressive that Seele did not have to pay for this first listing! In fact they won a community vote by a long margin!
This may explain why Seele is currently sitting at 10X from its ICO price in USD, and 4-5mill daily trading volume. But this is just the beginning the project is still yet to be listed on Coinmarket cap. I think it’s safe to say we can expect much larger exchanges in the future such as Binance.
So while this may be an impressive start for Seele, it is indeed just the beginning of a long journey.
Why should you be excited about seele?
They are bringing a new technology that is capable of scaling linearly with node size, this means as the network increases. Seele will be able to handle enormous amounts of volume, capable of scaling into the millions of TPS (transactions per second). To put this in perspective currently the words largest global payment system VISA, can only handle around 24,000 TPS.
Seele is more then a blockchain, they want to solve real world problems. One of their initiatives is to access to reliable healthcare information, a large proportion of the population currently do not have access to this.
Seele also aims to go after multiple industries, by utilising their innovative Heterogeneous Forest Network, they will be able to cultivate roles in healthcare, finance and banking, as well as research and data analysis. The Seele Neural Consensus Algorithm allows this all to be achieved with low energy consumption and safety in mind!
The most Exciting prospects for blockchain, probably haven’t even been imagine yet. But Seele is putting itself out there at the forefront and leader of this innovative space. They have situated themselves perfectly to take advantage of the emerging markets!
Thanks for Reading
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.