Idea & Token
ArcBlock plays the integration role. On one side, there are classical architectures – the base for hundreds of thousands developers around the world making mobile and web applications. From the other side, we can see a newish phenomenon – blockchain platforms and dApps. There are precious few people with enough experience and qualification to develop business apps based on blockchain. The fact that several implementations of blockchain platforms are available on the market and in case of choice mistake in you can deal with both wrong platform and its limits (i.e. low productivity) dramatizes the situation.
ArcBlock offers a set of components and cross-functional interfaces prescinding business app’s developer from low-level nuances by means of blockchain platform actual implementation allowing executing easy migration if needed. A nice analogue (for those who understand) is a universal ODBC interface for connection to DBMS of various producers (in this case – for connection to various blockchain platforms).
ArcBlock’s economy is all about ABT utility token. It unites miners providing their computing resources, developers of business apps and consumers to one single ecosystem. In case new app needs its own token – it can be inherited from ABT.
The platform introduces its own ArcBlock Marketplace to expand and reuse ArcBlock apps.
The team introduced is not that big and information of them in web is quite poor.
LinkedIn profile shows 3 employees only:
– Robert Mao, Founder, Chief architect, IT industry experience from 1994;
– Flavien Charlon, Co-Founder, Chief scientist;
– Jean Chen, VP marketing and PR.
At first we considered ArcBlock project to be a rocket in Blockchain 3.0 hype theme and we hurried over to tell you about the coming soon whitelisting finish. However, as we studied the materials in details we found out moments that decreased the attractiveness.
White Paper starts with annoying precaution that information provided can change multiply. Is that a common legal formality? That looks actually not that appropriate for a 28 pages document with superficial overview of future product only.
The Roadmap is not detailed. The release is scheduled for Q1 2019. From what we can see it will take at least 1 or 2 years to drive the developers community to try AcrBlock in their projects. We cannot also predict any credible news before 2020 to pump ABT. Moreover, never forget about the rivals.
The project has no open code and seems to be confusing.
Announced is the partnership with IBM and SAO, though there are no details about concrete arrangements, so it looks like a PR trick.
We do not affirm that this means a red flag. In case we lower the plank, imagine a young project on its whitepaper stage searching for finance to hire a state of developers, implement its plans, and improve the whole world – ArcBlock can appear to have an interesting idea, ambition and potential.
It’s up to you to decide: to make a step aside or participate in ArcBlock’s upcoming ICO.
Red flag: Issues on the start
Arcblock team has returned all the wrong investments without 20% penalty. Which is a good sign.
Update (08.02) comes from the Arcblock team. Seems to be a good news:
By listening to our communities, we understand people have a lot of confusions regarding our rules.
Here’s a list of clarifications:
3. As we all know, before the end of the closing, some users experienced duplicate transactions caused by computer glithces, which caused them to go over the limit, we will review those who have experienced the glithces and present a reasonable solution. One thing for sure if that these compensations will not come off the public sales quota, so those who followed the rules will not be affected. We will provide additional information on this soon.
4. To show our appreciation to those people who have failed to contribute to our public sales, we will issue compensation activities such as airdrops. More information will follow.
5. For those who violated rules of our public sales, we will not penalize the 20% with your refund.
And later one more:
We’ve updated the participants’ accounts. You can know if you’ve succeeded in participation by checking your accounts.
If your account shows no order history, it means that you didn’t participate the public sale successfully. Don’t worry. Your ETH/CMT contributions will be returned on Feb 9th at 7pm CST. Please be patient.
Well, if the process would go smoothly and on time, we are willing to increase the rating of the project, but still, Arcblock could do the ICO much much better. How are they going to deliver Blockchain 3.0 solution with such execution level?
We will monitor Arcblock release at Exchanges, will see how market react to these issues.
Our rating for the project decreased because of the pure final ICO stage execution.
We were monitoring ArcBlock ICO and consider it being not that successful. ArcBlock set up the rules for the transactions according to that:
Every participant will has his/her one and only individual cold wallet address.
Gas maximum level:
ETH: Up to 60 gwei, 200K
CMT: Up to 60 gwei, 200K
Please DO NOT contribute over the limit. It will cause the failure of participation. Your ETH/CMT contribution will be returned with additional 20% PENALTY. It will be processed in 5 weeks after the token release.
Investments which are not following these rules shall be refund. Seems like a sincere option to set common chances for everyone, though the realization is not that nice. In fact, the transaction is done and will be turned back within a month with a 20% surcharge (manually?). Frankly speaking, it was obvious that many investors can do a mistake or miss these rules hidden in the FAQ section and set up higher limits while the ICO is running.
Just for your information few examples how that could be handled:
- Beetoken set up the limits and did not accept transactions at smart contract level; Everyone gets a little of the tokens.
- Faceter are collecting transactions on a deposit within several days;
- DADI put on the limits at a smart contract level and rejected others. No penalty.
So, that could be done completely automated without any penalties.
But what ArcBlock actually decided was to collect the mistaken transactions (that’s crowd – people make mistakes) and get 20% from each of them.
ArcBlock ICO datesexport to calend
ArcBlock is a platform and an ecosystem for building and deploying decentralized blockchain applications. The platform goes beyond providing the necessary foundational components for using blockchain to power complex business rules. It connects your existing system to blockchain networks, enabling you to automate business processes using the data and identities associated with existing systems.
ArcBlock’s primary goal is to remove the barriers that have slowed blockchain adoption among the general public. We’re also passionate about developing unique approaches that will significantly advance blockchain development.