Genaro is a blockchain ecosystem built on a turing-complete public chain with decentralized storage, a sharing community and a trustworthy internet for everyone.
Presale Date: Over.
Public sale Date: 17th November 2017to 9th December 2017.
Genaro Network is a global blockchain ecosystem development project based in Singapore. Genaro has pioneered the concept of Blockchain 3.0, a platform built around the first Turing-complete public chain with an integrated decentralized storage network. Blockchain developers will have a one-stop solution to deploy advanced smart contracts and store data simultaneously. The technological ecosystem will contribute to blockchain infrastructure development by establishing common standards for decentralized applications.
To support the growth of the ecosystem, Genaro Network will open and operate a series of real-world hubs, with an internal token-based economic model including an in-house accelerator program, in places such as Singapore, Shanghai, and the Greater Bay Area. A variety of interactions take place in the hubs. These include coworking, where teams do the work in a stimulating environment; coliving, where members of the Genaro community can reside, support, and interact with each other; and cocreating, which refers to the idea of a synergistic collection of people, organizations, and technologies that complement each other to create a much bigger outcome.
This combination of blockchain storage infrastructure, decentralized application standards, and a global network of hubs and accelerators will enable the incubation of hundreds, and then thousands, of decentralized applications built on the Genaro Network, becoming the first app store of the blockchain.
Problems being solved:
- There is a lack of a Turing-complete public chain that can provide developers with a solution for data storage.
- Storage Sharer: All individuals can become a storage sharer and share their unused storage to earn GNX in reward.
- Challenger: Challengers can share their computing power to earn GNX as reward, the computing power is used for both SPoR (Sentinel Proof of Retrievability) and PoS (Proof of Stake). A Genaro challenger is like a Bitcoin or Ethereum miner. The SPoR process also helps to choose the “stake node” for PoS process.
- Storage User: All individuals can use Genaro Network as personal storage. By doing so, they need to pay both the Challenger and Storage Sharer GNX as fees.
- Developer: A developer could build applications on Genaro Network by deploying smart contract on Genaro Public chain and store user data on Genaro decentralized storage, by doing so, developer needs to pay both Challenger and Storage Sharer fees.
GNX token uses.
- It is used by the storage platform as a way to compensate and pay for leasing space.
- Required to use smart contracts.
- It is going to be scalable across all of the DAPPs on the Genaro Network, allowing people and organizations to use them in multiple places and creating a parallel economy.
- The Genaro hub co-working service will operate on the basis of a token-based economy with GNX as the medium of exchange.
- The token will act as a medium of exchange for the use of the Genaro Loft co-living services, and be a part of the dynamic interactions between the community to experience a new sharing-economy lifestyle
- Members of the community at large (which includes both individuals and organizations), can work individually or together with others to earn tokens in exchange for volunteering to take on work that needs doing. This can include both technical work, such as contributing to the Genaro Network development (e.g., “bug hunting” and other rewards), as well as operational work (e.g., helping to run the various aspects of the Hub).
Review/ICO Scoring Metrics.
Industry: Cloud computing
Similar projects: Ethereum, Mobius, Lisk, Nxt, Storj, Sia, Maidsafe, IPFS
Existing companies: Amazon S3, Microsoft Azure, and Google Drive
Level of competition: High
How is it different from other projects in the space?
- Compared with the centralized server model used by providers such as AWS, Aliyun, and others, Genaro Network is a more private, more efficient and more affordable permanent storage solution.
- Regarding storage solutions, Genaro’s competitors are Storj, Sia, Madesafe and IPFS. However, all of them only solve storage, and they either do not have their own public chain or their public chain is not Turing-complete. This means users can only use them for storage space but cannot deploy a smart contract, or build applications, on them directly. Developers need to write smart contracts on other chains like Ethereum and write the storage part separately, using a traditional cloud provider or something like IPFS, but this is unwieldy. Genaro provides a one-stop solution to save developers a lot of time, but more importantly, their unique consensus mechanism makes the public chain more scalable and the storage network more efficient at the same time.
- They have a real word co-working and co-living space.
Scale of problems being addressed: Normal
Securities Token: No. It’s a utility token.
Market dynamics: The top three operators of cloud computing services are Amazon S3, Microsoft Azure, and Google Drive. Since 2016, Amazon has ranked the number one in the global market, and its AWS revenue reached $12.2 billion.
Use cases: Virtual machine for running apps; secure market for data; decentralized wallet/exchange;
Regulatory risks: It’s not a securities token.
More than 2 members with past experience in this industry: Yes
More than 2 members who are past company CEOs/Founders: Yes
More than 2 members with technical experience: Yes
More than 2 members with previous blockchain experience or experience building an open source community or platform on a large scale: Yes
More than 2 notable advisors from other blockchain projects: No
More than 2 advisors with past experience in this industry: No
More than 2 advisors with technical experience: No
More than 2 advisors who are company CEOs/Founders: Yes
More than 2 advisors with previous blockchain experience or experience building an open source community or platform on a large scale: Yes
Popular advisors: David Lee is a famous angel investor.
Any previous activity related to the project: The Genaro idea was first proposed by co-founders Larry Liu and Waylon Wu in March 2016. During the past eighteen months, the Genaro Vulcan and Epsilon plans have been accomplished successfully. The Genaro team is now working on what is known as its Romulus plan and Eden plan—building the decentralized storage network for DAPPs and user-friendly applications for users to share their unused storage space. Finally, the Genaro Altair plan will see the creation of the whole blockchain 3.0 ecosystem, where DAPPs can be easily deployed via the Genaro public chain and storage network.
GitHub presence: Yes
VC funding: Blockasset, Chainbase, LinkVc, Collinstar, and more.
Actual alpha, beta etc. available on website: NO. Only their first app, Eden, an internet app, is available. You have to apply to test it.
Token expected usage date: Early December.
Working product: The Genaro Network beta version will be released in early December, after which blockchain applications could start to be built on it. The first Genaro Hub will be ready for move-in by early December as well. They will provide a coworking space, blockchain community events and meet-ups, technology tutorials and education and instruction on how to build applications on Genaro, and more. They currently plan to start in Singapore, followed by Shanghai, Seoul, Moscow and then Silicon Valley, but more locations will be planned later in 2018.
Roadmap ends: 2020
- Blockchain leverages.
Smart contracts: Yes
Decentralization: Genaro’s network stores important data for DAPPs and, for individuals, stores files including photos, videos, documents and all other kinds of data, through decentralized networks instead of centralized services.
The Genaro Network stores your data on multiple nodes of a blockchain instead of on a single node. This procedure ensures all your data is retrievable at any time without the possibility of data loss. Also, Genaro always tries to find the nodes nearest to you to store your data. Thus, you can access your data much more efficiently than from a remote central processing unit.
Affordability: For the usage price, Genaro will be cheaper than centralized storage service companies like Google Drive: Dropbox or All Yun. This is because Genaro network opens a fully competitive market for storage and frees unused storage space across the entire domain of Genaro network personal users and the excess storage and bandwidth of a variety of commercial providers. Centralized storage companies have to host a large number of centralized processors and storage units at both a high fixed cost for hardware and high variable cost for service, electricity and network bandwidth. Genaro takes advantage of unused storage (and distributes costs for electricity and bandwidth), across the community’s devices as well as excess capacity from commercial service providers.
Privacy: Since data stored on Genaro’s network is both encrypted and separated into pieces that are randomly distributed to nodes managed by the Genaro blockchain, no one can read or rewrite your data without your private key. Moreover, you can set precise security configurations according to your desired data security level.
Any centralization aspect: N/A
Scalability: They claim their blockchain will be scalable.
- ICO Structure.
Bitcoin talk pages: None
Bitcoin talk interactiveness: N/A
Presale absent: NO. 14% of the tokens were sold angel investors and early supporters.
Whitelist absent: No. They had a whitelist plan for early bonuses.
Bonus for whales absent: No. Their whitelist plan had the highest bonus at 500 ETH or more, 1ETH = 3600GNX though the GNX is then locked for 3 months.
No Registration required: NO. KYC required.
Minimum amount: N/A
Individual cap: No
ICO Timeframe 1 month: Yes
No ICO extensions: NO. ICO was scheduled for 17th November yet it’s not started yet.
Soft cap reached: N/A
Token scarcity: 700M GNX.
Token price: $0.12
ICO Hard cap amount: 24M USD.
ICO Token percentage: 31%
Limitations: USA, People’s Republic of China
Presale amount: 14% of total token supply.
Presale amount reached: N/A
Public sale Progress so far: N/A
Smart contracts already audited: N/A
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