11 April 2018

PChain ICO Review

Summary

  • Token Symbol: PCH
  • Website: https://pchain.org/
  • Whitepaper: https://pchain.org/js/generic/web/viewer.html
  • Hard Cap: 25,000,000 USD (50,000 ETH)
  • Conversion rate: TBA
  • Maximum market cap at ICO: 2,100,000,000
  • Whitelist: Yes, but the actual date TBA
  • ERC-20 Token: Yes
  • Timeline: TBA
  • Token Distribution Date: TBA but 35% of total PCH will be available for the sale.

Video Summary (video is 01:58 long):

Project Overview

What does the company/project do?

Pchain aims to be the next generation blockchain which will support EVM (Ethereum virtual machine) making large scale blockchain application possible. They are aiming to solve Ethereum scaling issues and wanting to be next Ethereum killing blockchain.

Key features of Pchain:

  • Native Multichain Platform: With multichain platform, Pchain will address the scaling issues of Ethereum platform
  • Consensus with hierarchical Sharding Pipeline: It will be using proof of stake technology and integrate data sharding similar to Silica
  • Smart contracts based on Smart Data: Pchain will support smart contracts using the Oracle mechanism
  • Cross chain invocation and transactions: it will also support cross chain mechanism assisting token exchange for Bitcoin, Bitcoin Cash and other ERC 20 tokens

What are the tokens used for, supply and how can token value appreciate?

The project will be funded by target and open donation of token. The name of PCHAIN’s Token is PCH, and a total of 2,100,000,000 (2.1 billion) PCH will be issued.

Among all the token,

  • 15% is used for the target donation.
  • 20% is used for open donation.
  • 25% is reserved for the core team and early contributors.
  • 25% is used for community construction.
  • The remaining 15% is used for POS mining.

Token donation phase consists of target donation stage and open donation stage. Open donation is only offered to the citizens of countries and regions permitted by relevant laws and regulations. The start time of target donation depends on the development and operation of the first round.

Ways of Fund Raising

Usage of Funds

The fund will be used as follows:

  • 65% will be use in PCHAIN system research and development, including wages, software and hardware procurement, etc.
  • 20% of fund will be used for carrying out the marketing campaign, including wages, promotion expenses, etc.
  • 10% will be used for carrying out operations, including holding all kinds of activities, etc.
  • Remaining 5% will be used for conducting legal compliance, including the payment of counsel fees, etc.
Token value appreciation

Once the PCHAIN is established, a certain amount of cost will be required to pay while combining smart contract with blockchain and invoking smart contract, which is settled by PCH. In addition to mining, PCH can also be obtained in the market. After PCHAIN is built, there will be more and more applications on the chain, more and more transactions will be carried out on the chain, the demand for PCH will also increase, and the value of PCH will increase. As a result, the value of PCHAIN project will increase.

How advanced is the project?

  • PCHAIN Position Paper completed - T
  • Dewdrop Stage - T + 7 months
    A complete development of PCHAIN core system which supports account system and deployment of smart contract, publish technical white paper. Test net of main chain online.
  • River Stage - T + 12 months
    In this stage PCHAIN will publish the product on the major network complete document of external API and wiki.
  • Sea Stage - T + 15 months
    In this stage it will expand the capabilities of knowledge graph and Data Blockchain and will support external development interfaces.
  • Ocean stage - T + 18 months
    There will be introduction to several blockchain application projects to form Knowledge Graph Blockchain Alliance.

After examining the results of the 18-month milestone, a new plan will be marked for the specific development, so that PCHAIN can maintain the correct R&D and service direction and maintain the leading position in technology and market.

Team

A global team of internationally recognized experts with years of experiences in the blockchain industry will oversee the research, development and management of PCHAIN project.

Feng Cao (Vision & Algorithm)

Dr. Feng Cao graduated from Fudan University in Computer Science. Heis the inventor of the 1st International Blockchain patent from China, theCo-Founder of ChinaLedger, the most influential blockchain alliance of China, the Chief Scientist of Blockchain Application Committee in China Federation of Logistic and Purchasing (The 1st Gov Association in Indus-try), and a Senior Fellow of the China Blockchain Research Alliance. He is a bold player in financial blockchain industry in China. He found several blockchain startups that attracted investment from top funds and received a few financial blockchain innovation grand awards. He was the Chief Scientist of Internet Finance and co-chair of the patent review board in IBMResearch-China. Dr. Feng's innovative achievements have been success-fully adopted in China, US and other 150 countries.

  • Steven Lu: Architecture
  • Kevin Zheng: In Memory Data Management
  • Zhihong Chong: Knowledge Graph
  • Frank Ma: Blockchain Storage and Optimization
  • Zhenjie Zhang: Query Speed up and Indexing

Concerns

  • No Minimum Viable Product (MVP)
  • Long Roadmap
  • No advisors
  • No Strong Partnerships
  • No Github

Conclusion

Over all, due to a weak team and no MVP, our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping: No

For long-term holding: Uncertain

For more information about the ICO, please visit the following links:

Website: https://pchain.org/
Whitepaper: https://pchain.org/js/generic/web/viewer.html
Twitter: https://twitter.com/pchain_org
Telegram: https://t.me/pchain_org
Telegram: https://github.com/pchain-org