"Tokengazer Depth Study" Aergo: Enterprise-level public chain is not clear, the project information disclosure is not fully recommended follow-up observation

Current item: Aergo

1. Aergo attempts to integrate public and private chains to better meet the needs of enterprise-class users. Most of the team technicians have experience in blockchain project development, but there are fewer people in charge of business development and market operation.

2. The project's "endorsement" Company Blocko has 4 years of experience in the blockchain industry, and its product coinstack has been commercially used. Aergo's core technology is based on Coinstack, and Blocko is expected to provide substantial resources for the Aergo project.

3. The project fan has a high heat.

4. Aergo tokens as application-based tokens in the platform, the demand will increase with the scale of the use of the platform, so the long-term investment value of tokens need to consider the future of ecological construction.

5. The project has not yet released the official GitHub homepage or MVP (the most streamlined available product). Some of the technical details of the white Paper require the team to publish more information to assist in further understanding.

Industry background

Application development in the real world takes into account many factors, such as computing, storage, external data, monetization, payment, and so on, which distracts the developer's energy. Enterprises tend to prefer the private chain, but sometimes need the public chain, these private chain, the public chain between the lack of reliable unicom platform.

Aergo's goal is to build an enterprise-class blockchain protocol and it platform, become the mainstream it framework for application developers and enterprises in many industries, and solve the problem that existing blockchain projects cannot meet the enterprise-class usage requirements of most industries.

Company background

Aergo official website shows that Blocko company is Aergo's technical partner, Aergo will inherit Coinstack's many core technologies. Aergo and Coinstack provide an enterprise-class blockchain platform framework, but Coinstack is a private-chain development platform, and Aergo is a platform that leverages cloud architecture, public and private blockchain networks.

Aergo in the beginning will be through the Blocko company and Blocko Company Partners, the customer's network to connect Dapp. At the same time, Aergo will also coordinate the use of Blocko's resources, Aergo and Blocko will jointly launch and prepare a public network as the first member of the operational Committee, and will produce blocks together until the public network reaches 2 million blocks.

In addition, Won-beom Kim, founder of the Aergo team, is also the founder of Blocko, and almost all of the other key members of the Aergo team are from the Blocko company. The white paper mentions that after the completion of the Aergo ecological construction, the Blocko company will also accept Aergo token payment for the technical services provided by Coinstack4.0, which is almost equivalent to marketing and endorsing the value of Aergo tokens.

Through the above analysis, we can draw the following conclusions: Blocko is an already in the Blockchain field has a certain operating experience and technical strength of the company, and by the investment institutions recognized. Aergo can be understood as Blocko company to carry out a new project and the division, the Aergo team of key personnel almost all from Blocko company, Aergo Project Core technology is based on Blocko Company's existing products coinstack. Blocko Company will provide resources for the Aergo project and assist in its promotion, and accept Aergo tokens as a means of payment.

Existing problems of Blockchain platform

1. lack of reliability

For companies, the inability to control the entire IT infrastructure after using a blockchain can cause operational problems. The male chain may encounter hard forks, such as 2017 Bitcoin has forked out Bitcoin cash (BCH), Bitcoin Diamond (BCD), Bitcoin Gold (BTG) and so on. When the public chain encounters a hard fork, Dapp needs to run as usual on the new version of the Protocol, and a simple application fork can lead to serious business problems. Hard forks can also increase the vulnerability of the IT network itself. Another issue is the sharp fluctuations in transaction fees, which are unacceptable to business users whenever bitcoin encounters a network congestion and the transaction fees for Bitcoin are volatile.

2.IT Integration Difficulty

It is extremely difficult to develop an IT system that is fully compatible with ActiveDirectory, Oracle, and SAP, which are already widely used products.

3. Software development Difficulties

Blockchain technology often introduces new programming frameworks and languages, and most enterprise software development is project-oriented, and developers learn to use new languages and new tools for a single project with minimal operability. Many companies hire contractors to implement IT projects, and contractors may be reluctant to learn a new language for a single project. Many public-link projects force developers to learn new languages to create smart contracts, and existing tools such as C + +, Golang, JavaScript, and Python cannot be used well. The widely used data processing language SQL in the real world has no use in blockchain development. These are some of the obstacles that traditional developers have to assist in the wider application of blockchain technology.

4. Privacy issues

The data privacy that the current public chain can provide does not meet commercial requirements.

5. Scaling Issues

Many of the existing blockchain is sufficient to handle simple expansions, but commercially used IT systems should be able to automatically handle a growing number of users or even sudden requests for services.

6. Lack of interoperability

There are now a large number of public and private chains, each blockchain design is different, which limits the flow between users. A large number of blockchain projects will disappear due to lack of acceptance and the remaining items are used for less professional use. The most successful projects should be able to integrate with other projects to form a larger blockchain ecosystem and platform.

Technology architecture

Ergo's goal is to build an enterprise-class blockchain protocol, it platform, and operational framework to serve DAPP developers and corporate enterprises in this system. Aergo to integrate the advantages of the public and private chain, to provide a user-friendly, multi-functional, multi-threaded intelligent contract architecture. In the Aergo ecosystem, each participant is allowed to innovate and provide business services.

Similar to today's cloud computing, Aergo to provide enterprise-class users with a secure, open-source framework for developing and running Dapp. When necessary, enterprise users can easily move dapp from the public chain to a more secure, higher-performing private chain. Aergo borrowed a lot of concepts from traditional databases and distributed computing.

Figure 1 Interoperability of public and private chains in Aergo ecology

To implement a hybrid blockchain structure, Aergo uses a data connection proxy server. The connection Proxy server allows two-way communication between the public and private chain networks, enabling different types of systems to work simultaneously. At the same time, high-performance virtual machine engines are needed to meet the needs of smart contract development, compilation, and embedding into this diverse architecture.

1. " Impossible triangle "analysis

Any blockchain project needs to consider the compromises between the three elements: security, scalability, degree of de-centering (DBP, which can be understood as the number of chunk producers), which cannot be improved at the same time as three performance. At the same time, whether the block can quickly reach the final is also an important criterion to measure the performance of the public chain. We analyze the design and implementation of Aergo at every point of the impossible triangle respectively.

Fig. 2 Impossible Triangle

Scalability

DPOS consensus:

Aergo's core consensus is dpos, the white Paper does not mention the mechanism of node generation, but a few explanations are given in the FAQ on the official website. Aergo will use more than 20 chunk producer nodes (Bp,block producers, similar to super nodes), and 50 BP candidate nodes. There can be many non-BP nodes in the network. In the private chain, the number of BP and BP candidate nodes can be changed.

The Dpos consensus algorithm limits the number of blocks, does not guarantee to be centralized, but its block speed is faster, the throughput is large, the delay is low, and can guarantee the fast final.

Aergo Each library uses dpos consensus by default, but users can use different consensus algorithm modules instead of core consensus algorithms, such as using raft and pbft consensus to better meet the requirements for developing and running different services.

Tokengazer Viewpoint: There are differences in security and efficiency among different consensus mechanisms, and how do the two chains with different consensus mechanisms interact? The white paper does not give sufficient details.

Parallel Processing:

The performance of blockchain system mainly depends on the efficiency of new block generation and sharing, and the speed of processing new chunks per node. The existing blockchain system has certain tolerance to nodes with low asynchronous performance and can accept nodes with poor performance. For Aergo enterprise-level blockchain, each node must effectively implement a consensus protocol. The Aergo chain introduces parallel processing concepts to various stages of block processing to maximize system performance.

Figure 3 Aergo Parallel processing

Other ways to improve scalability:

Aergo provides three ways to expand its own name: Domain-based partitioning, horizontal expansion, and vertical expansion.

① Domain-based partitioning (domain-basedpartitioning)

According to the white paper, domain-based partitioning is the most basic strategy for Aergo to ensure scalability, which is achieved through similar distributed versioning capabilities. Aergo is free to fork and merge the data on its chain, so this distributed ledger can be logically and physically divided by different libraries. This method has been successfully used by other distributed version control, such as Git and mercurial. But the validity of domain-based partitioning relies on the structure and use of data, and it is difficult to improve scalability by partitioning data when a repository needs to process large amounts of data.

Tokengazer Views: Git's versioning, forking, and merging describes the software development process, which aergo analogy to the bifurcation and merging of Blockchain, which is not entirely appropriate. Aergo also did not explain in detail the specific meaning and implementation method of "domain" partition, the relationship between library, domain and branch is unclear. The Tokengazer team speculated that "domain" might refer to a different chain, and from this point of view, this approach is similar to promoting extensibility through "side chaining." The Tokengazer team communicated with the project party on these issues in the official Telegraph group, but did not get a response from each other.

② Horizontal Expansion

Aergo's horizontal scaling strategy relies on the functionality provided by the AERGOFS (Distributed File System), and Aergofs has two functions for scalability: Aergofs can act as a storage layer for each node's chunks and indexes. Aergo uses aergofs in a way similar to hbase uses hdfs[1], where each node can store an unlimited number of chunks and indexes as a Super node, Aergofs can also act as an object store similar to s3[2], Aergofs provides persistent binary data access.

Tokengazer View: Horizontal scaling can be understood as storing large amounts of data on multiple nodes. Aergo System is a multi-chain structure, the data volume is very large, the use of this multi-node storage method is similar to large block expansion.

③ Vertical Expansion

The most straightforward and simplest extensibility method used by Aergofs is to optimize a single node. Although horizontal scaling is a good way to do large amounts of data, it does not meet all the requirements. With the advent of inexpensive memory and fast storage, optimizing a single node is a more efficient approach. In this regard, Aergo from coinstack a lot of experience, for the node to provide efficient network underlying and optimized storage engine.

Security

The Dpos consensus has a limited number of super-nodes and, overall, less security than the POW consensus, but in Aergo users can build their own public libraries or private libraries and set up data access, similar to a centralized security mechanism.

Aergo's core consensus algorithm is dpos, super-node election and the emergence of a certain threshold access mechanism, on the basis of trusted super-node, can eliminate witch attacks, and suspicious chain transactions to take a freeze and other protective measures.

Aergo uses parallel control to ensure that the Dpos consensus algorithm is deterministic when trading is created.

To the center of

Aergo will use more than 20 blocks of producer nodes (BP, block

Producers, similar to a Super node), and 50 BP candidate nodes. This approach helps to increase system capacity, but reduces the degree of de-centering. Aergo and Blocko will jointly initiate and prepare a public network as a member of the first operational Committee. Blocks will also be produced at an early stage until the public network reaches 2 million blocks. how other nodes are generated, and the white Paper does not explain it in detail .

Final Sex

Parallel control is a decision function in the Aergo system, which guarantees that the Dpos consensus algorithm is deterministic when the important chunks in the blockchain network create transactions. Aergo provides two mechanisms for trading serialization, block-level serialization, and pool-level serialization .

① block-level serialization

Since each branch of the blockchain consists of a series of blocks, the transaction can be serialized by stacking the chunks. Aergo provides multi-version parallel control based on block height, which, once the branch and chunk height is selected, provides a consistent read on different nodes in the repository. Multiple versions of parallel control are only available for block-level serialization.

② Pool level serialization

Aergo nodes can take advantage of the certainty provided by dpos consensus, which provides a powerful guarantee for the final nature of events. Because each node in the Aergo network can apply a unified serialization order to process new transactions into the memory pool and create new chunks, the customer does not have to wait for the chunk interval to complete to retrieve the results of the transaction, and the delay in performing the transaction is reduced to the millisecond level.

Figure 4 Pool-level serialization

Vitalik Buterin in the "Parametrizingcasper:thedecentralization/finalitytime/overheadtradeo" report, the time required for the block to achieve final The relationship between de-centering and node processing capability is described in detail, i.e. F * o≥d, where F represents the time required for the chunk to reach final, O indicates the number of messages processed per second by all nodes, and D represents the number of nodes in the system.

Based on the information above, the Aergo block confirmation time is reduced to the millisecond level, i.e. f=0.001s; the number of nodes is approximately 20, and the number of messages per second for all nodes in the system o must be greater than 20000. On the basis of parallel processing and node capacity-building, 20000 of the processing power can be achieved.

In summary, in the Impossible Triangle of "safety-performance-de-centering", the location of the Aergo is as shown, with more considerations in terms of scalability and security, but at the expense of partial de-centering.

Fig. 5 Position of Aergo in "impossible triangle"

2 . Virtual Machines

Aergo provides a multi-paradigm, plug-based, smart contract infrastructure. Aergo inherits EVM compatibility from Coinstack, while Coinstack is based on an improved Bitcoin structure that combines an ethereum virtual machine that performs smart contracts, similar to Qtum and RSK.

Aergo Intelligent Contract Writing standard method is provided by Aergosql. Aergosql provides a relational data model for storing and accessing data, as well as a SQL-like scripting language for writing smart contracts, Aergo attempts to simplify the writing of smart contracts as much as possible. Aergo provides an allowable interface for smart contracts for Ethereum virtual machines, Fabric

Smart contracts written by Chaincode or aergosql can be used with each other.

Figure 6 Aergosql programming model

3 . Features

distributed catalogs

A distributed directory is a core feature that can be used to create new chunks in Aergo systems that store important information and metadata.

Each distributed directory manages a separate namespace (namespace), which contains information about the different branches and tags in the repository, and the validity of the various identifiers on the blockchain. Each distributed directory itself is a blockchain, with its own creation blocks and best chunks. Unlike normal chunks, the size of a distributed directory chunk is limited and the creation interval is relatively long, and the distributed directory is used to manage metadata. A distributed directory functions like a data dictionary in a database.

Aergo introduces the concept of the Tree of Life (ToL), the ToL namespace of the distributed directory contains information about all the branches in the library, and also contains the best chunk information for each branch.

Distributed Directory Services

The DDS namespace contains entries, public keys, legitimacy, associated roles, and permissions for different entities on the blockchain. The DDS namespace is the basis for Aergo library access control. Because the DDS tracks the amount of data per Aergofs instance, the Distributed File System (AERGOFS) relies on DDS. The DDS namespace also forms the identity base for the node to participate in the core consensus process.

Tokengaze View: Because the White paper's interpretation of distributed catalogs and distributed directory Services is too abstract. The concept can be understood that the distributed directory refers to a record namespace (namespace) information chain, through which the chain can quickly point to the corresponding data information. The distributed directory specifically has a structure called the Tol namespace, which is used to record bifurcation and merge information. This allows for version recording and control. Based on this, the function of distributed file system is realized.

Distributed version Control

Aergo the bifurcation and chunk reorganization as the core features of the blockchain, aergo by adopting a git-like data model and command structure. Aergo supports the creation of public libraries and private libraries that are available for package opening. Libraries are a form of code that is provided to developers, including actual software code, as well as versioning and collaboration. Libraries allow developers to collaborate on new projects from anywhere. A library manages a project, or a set of files. A library is actually the smallest form of blockchain on a Aergo chain. A library can be a private chain or a public chain that is completely independent of the Aergo. The public library provides a shareable, open, and centralized infrastructure for DAPP, much like a public library in Git that manages open source projects, automates service creation, and provides cloud computing. The private library provides a controllable, secure, and private infrastructure for DAPP.

Forking and merging

The most complex concept in distributed version control is the process of merging forks. For blockchain with real-time data, branching is a simple and straightforward process due to its non-destructive process, while merging is implemented by two different methods: automatic merging, and consistency merging.

Figure 7 Forking and merging

Automatic merging is the default process of merging two forks, similar to a chunk reorganization. In this method, the chunks on the merged chain are decomposed into trades and absorbed into the merge pool of the target chain. Eventually, a new chunk is generated in the merge pool and merged into the best chunk of the target chain. In this procedure, transactions that are inconsistent with the merge target chain are automatically excluded from the new block.

A consistency merge occurs only when a branch is created with the specified consistent merge logic. Consistency merging is similar to the merge functionality provided by the version control system. Unlike auto-merge, consistency merging relies on predefined conflict resolution logic to manage inconsistent transactions, and conflict resolution logic is implemented through smart contracts.

Tokengazer Views: Git's versioning, forking, and merging describes the software development process, which aergo analogy to the bifurcation and merging of Blockchain, which is not entirely appropriate.

If the main chain is a public chain, then the chain chain once merged into the primary, the data on the chain will not be rolled back, which is a challenge for the enterprise. In addition, the blockchain merger faced cross-chain issues, how to solve these problems in the White paper is not explained clearly. According to the White paper, Tokengazer believes that the library contains multiple public or private chains, and can use git-like fork, merge method, according to their own functional requirements to collaborate to build a blockchain, but here the main chain and branched-out should be aergo in advance to specify the consensus rules and specific data structures.

Intelligent Prophecy Machine

Aergo supports smart contracts that take external events and factors into account with intelligent Oracle machines, which obtain data from specific directory services and trigger events (mail or SMS) in external services. Enterprise users want to connect blockchain applications with external services, internal databases, and intelligent Oracle can solve this problem.

Tokengazer point of view: for the current problems of the prophecy machine, such as how to choose a trustworthy data source, how to deal with the result of the Prediction Machine network return error, Aergo does not give a solution, its intelligent prediction machine function is not perfect.

Distributed File System

Aergofs is the core component of the Aergo platform, which provides distributed file system functionality. Aergofs relies on a distributed directory to manage file-related metadata, including physical locations, hashes, and so on, all of which are stored in a distributed directory. Aergofs can provide storage capabilities for both structured and unstructured data, with large data storage chunks that can serve a large number of files. At the same time, Aergofs provides a simple HTTP interface that allows for access to intelligent Oracle machines running on server environments and Dapp running on Web browsers.

4 . Ecological

Aergo's ecological architecture is built on the Blocko company's Coinstack platform, including: Aergo CHAIN (Aergo), Aergo HUB (Aergo public interface) and Aergo MARKETPLACE (Aergo market).

Aergo CHAIN

Aergo chain is a new public-link protocol whose main features are described earlier. Aergo chain provides the consensus mechanism, intelligent contract, Aergosql, parallel control, parallel processing, Distributed File System (AERGOFS), distributed directory (DD) and other information.

Figure 8 Aergo Core Technology architecture

Aergo HUB

Aergohub is a public interface that connects blockchain and Dapp that are deployed on the blockchain. These dapp can be stored in public libraries or private libraries, and both types of libraries inherit industry-tested frameworks and Coinstack-compliant APIs.

Figure 9 Aergo HUB

Dapp and other supporting software, compute resources, and services optimized for blockchain need to be configured, deployed, and managed on the Aergo chain. These are achieved through Aergo Horde, Aergo Horde is a management and software framework prepared for the framework provider of the Aergo hub ecosystem.

These providers need to install Aergohorde to act as nodes. Aergo Horde is an open source software project. Aergo Horde offers a dedicated operating system Aergo OS, with interfaces and components for interfacing, embedded and high-performance Linux cores and related services. By using the Aergo OS, nodes can perform many very useful system-level tasks, such as checking node information, monitoring resource availability, and generating chunk information.

Aergohub exist for node providers and node consumers, and the node provider is the library provider who agrees to provide physical nodes to Aergohub. These nodes are selected by the node consumer and configured as a blockchain. The node provider receives compensation from the consumer through the payment system on the Aergo hub. Node consumers use the nodes in the Aergo hub to build their own blockchain, or they can configure their network requirements based on the performance they expect. Consumers are paid to the node providers because they consume resources.

Aergo MARKETPLACE

Aergo Marketplace is a one-stop shop for software applications, computing resources, and other services optimized for Aergo chains, enabling the purchase and sale of point-to-point computing resources. These services are managed through the Aergo hub public interface Access service via the Aergo horde.

Figure Ten Aergomarketplace

In this ecosystem, service providers, independent software vendors, and cloud infrastructure vendors can deliver their products and services to users.

5 . Token use

Aergo tokens are the medium of exchange within the Aergo ecosystem. The holder of a token has the right to obtain specific services within the ecosystem. Specifically, tokens have the following effects:

Run a smart contract;

Select Dpos consensus algorithm;

Blocko Company to provide technical support to Coinstack 4.0 payment method;

Aergo Marketplace Service and asset payment methods;

The payment method of the Aergo domain;

At the same time, Aergo tokens are transferable within the platform.

Comparison of similar projects

Aergo's goal is to build an enterprise-class blockchain protocol and it platform, become the mainstream it framework for application developers and enterprises in many industries, and solve the problem that existing blockchain projects cannot meet the enterprise-class usage requirements of most industries.

The EOS (Enterprise operation system) is a blockchain operating system that provides database, account permissions, scheduling, authentication, and Internet application communications.

The Oneledger project allows businesses and individuals to use this platform to create their own public and private chains for cross-chain functions.

These three projects can serve enterprise-class users, thus comparing three projects based on current enterprise-level user issues in blockchain applications.

Team background

Aergo team members are mainly from South Korea and have basically given LinkedIn a job history. Board members have extensive experience in big data, cloud, capital and other fields. Technical team have a wealth of database, software and other development experience, and mostly from Blocko company, has blockchain product development experience. The white paper mentions that Blocko company will provide 25 technical developers for Aergo, so the Aergo team's technicians are more equipped to help project development. But there are fewer people in charge of business development and market operation.

In summary, Tokengazer in team configuration to give Aergo team more optimistic evaluation.

Our Partners & Investment Institutions

Project backed by well-known investment institutions, including: FBG Capital, GBIC, JRR and so on.

ICO situation

Token name: not published

Total Tokens: 500,000,000

Raise time: Not announced

Raise Price: Not announced

Hedging situation: not published

Token allocations are shown in the following table:

Social media data

Number of social media fans

Twitter2330

Medium340

Telegram27046

Tokengazer team based on logarithmic normal distribution, the number of Twitter and Telegram fans in the first-level marketing project was statistically processed, and the approximate position of the Aergo project heat in the whole primary market was obtained, and the analysis was as follows: from the statistic data, Aergo's Twitter fan count is relative to the top-level market, with a cumulative probability of about 0.646, meaning its Twitter fans surpass 64.6% of the project.

Cumulative probability of Twitter fans: 0.645754127

Telegram number of fans cumulative probability: 0.871934542

Above analysis, Aergo's telegram fan count has also been strong in the entire primary market, surpassing 87.2% of projects, with a very high level of focus.

Project Roadmap

The Aergo project is at an early stage and the team's roadmap is very simple. Given that the technical teams are mostly from Blocko companies that have already developed blockchain products Coinstack, and Aergo's technology is based on Coinstack, the team may encounter less technical resistance in the early stages.

It should be stated that, as of August 6, 2018, the project has not yet released the official GitHub homepage or MVP (the most streamlined product available), and the code preparation and updating is temporarily impossible to verify. BitBucket Web site query to a code library called "Blocko", may belong to Blocko company, most of the library is related to Coinstack. Only one file named Aergo-ico is associated with Aergo and is updated on June 20, 2018. Because the official does not specify that the Aergo code distribution channel is the BitBucket website, therefore this paragraph information is for the reference only.

Investment sector analysis

1. Plate return

Photo Source: Tokengazer Research Group, the data in the figure is the market data for the 2018.8.1 level. In the case of USD, the public chain does not contain ETH; When the ETH is marked, the public chain does not contain BTC or ETH.

Aergo belongs to the plate for the public chain, visible, the public chain plate Whether it is the U.S. dollar or Eth,roi performance are very excellent. The public link plate is a better investment target.

It should be stated that not all projects in the public chain focus on the same Aergo, Aergo focus on enterprise-level infrastructure construction, the goal of the public chain projects is relatively broad, if the project is progressing smoothly, the theoretical investment prospects are good. Because of the fierce competition in the public-link project, there may be only a handful of winners, so the investment needs to be closely monitored for project progress.

2. Fund- raising judgment

Judging based on similar competition products

In comparison with similar projects, it is assumed that the amount of funds raised by the competitor is a reasonable amount of fund raising, which can predict the market share of Aergo raising funds is more reasonable in the [0.0096%,0.0126%] range. The current digital money market is worth about $271.4 billion, so Aergo's reasonable range of fundraising is [$7,787,292,

$24,830,741] (%* market value *ico time-of-sale%).

Based on the entire secondary market judgment

Tokengazer team based on certain assumptions, through the construction of the MARKET_CAP model to determine the rationality of the coin project fundraising, the specific model please refer to the Tokengazer Blockchain ⽬ Investment value Analysis Report--sparrow

Exchange.

Collecting Aergo current social media and GitHub data, the market_ cap model based on Tokengazer can predict Aergo current market cap range for [$5,420,329,

$25,526,802]. Due to the large error of MARKET_CAP model at present, the prediction interval is ⼤ large, but it can still be used as reference. Tokengazer team will also continue to improve the accuracy of MARKET_CAP model, reduce the error interval.

According to the White Paper, the ICO stage token sales ratio is 30%, but the hedging ratio is not mentioned. We assume that tokens have just been issued ⾏ when the 25% tokens, as well as the team, consultants and other 5% of the tokens of the hedging, that is, the total of 30% of the tokens in the ICO after the lock, into the circulation of the token ratio of 70%.

Aergo Project Party has not disclosed the need to raise the amount of funds, Tokengazer team in order to judge Aergo raise money rationality, assuming that the token on the line two market, the price is maintained at the ICO. As a result, we can calculate the reasonable range of raising funds based on the general market law for [$2,322,998,$10,940,058] (Forecast interval * ico aergo sales%/token liquidity).

Tokengazer two ways to judge the rationality of raising funds in ICO are based on certain premise assumptions. Judging from the forecast results, the reasonable raising of the Fund range based on the similar project method is [$7,787,292,

$24,830,741], and based on the entire secondary market method to determine the reasonable range of funds to raise [$2,322,998,

$10,940,058]. Aergo expects the ICO time to be August 2018, and the Tokengazer team to maintain a weak judgment on the market, thus taking a conservative estimate.

On average, it is more reasonable for Aergo to raise funds below $17,885,399 for 30% coins. When the Aergo project party raises more funds than this value, it indicates that the project side raises the funds is high, has the certain investment risk.

Summarize

1. Aergo's goal is to build an enterprise-class blockchain protocol and it platform that is the mainstream it framework used by application developers and enterprises in many industries. The investment logic of Aergo tokens is that the Aergo tokens are the application tokens in the platform, and their demand will increase with the scale of the use of the platform.

2. The public chain project belongs to the hot plate, but the competition is fierce, and the public chain that dares to claim to target enterprise application is not many. It is generally believed that at the beginning of the third generation of blockchain technology, the third generation of blockchain has not yet been clearly defined, Aergo has proposed the construction of the "fourth generation" blockchain, tokengazer that arbitrarily to blockchain technology definition generation of the practice is not serious enough, more like a marketing strategy.

3. Aergo Project "Endorsement" Company Blocko has 4 years of experience in the blockchain industry, its product coinstack has commercial applications. Aergo's core technology is based on Coinstack, and Blocko is expected to provide substantial resources for the Aergo project.

4. Aergo attempts to integrate public and private chains to better meet the needs of enterprise-class users, most of the team's technicians have blockchain project development experience, which is conducive to the project, but currently responsible for business development, market operations less people.

5. The public chain project has a huge technical challenge, Aergo in the blockchain for reference to a large number of traditional database technology to meet enterprise needs, but the large-scale use of the blockchain demand point in the enterprise, Aergo value point where, Aergo did not give a specific case. The official GitHub homepage or MVP has not been released at the time of press release. Some of the technical details of the white Paper require the team to publish more information to assist in further understanding, Tokengazer has passed Telegram and consulted the project on technical issues, but has not received a response.

6. The community heat of the Aergo project is high, but the size of the funds raised, the hedging situation has not yet been announced. According to the current market conditions, the Aergo 30% coins raise less than $17,885,399 more reasonable.

Tokengazer from the existing public information analysis on the basis of judgment, although the Aergo team technology, background, fan hot, but also for the implementation of the technology to do a lot of consideration, but in some technical details explained not clear, raise the size of funds, lock the position, road map, the current development situation and other information is incomplete on the basis of The present is not enough to give an optimistic evaluation. Investors should wait for the project party to publish enough information before making a decision.

Disclaimer

1. This report is written in an objective and neutral manner and is not considered as an investment recommendation and the Publisher is not responsible for any losses incurred as a result of the use of this report for investment purposes.

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