Emotiq ICO Review
Emotiq is a scalable, PoS-powered blockchain platform, which includes natural language smart contracts for a wider range of applications.View ICO Website
Emotiq GitHub Activity
Commits across all public GitHub repositories owned by Emotiq.
Emotiq ICO Review & Analysis
Bitcoin and Ethereum have given the underlying framework for a world powered by blockchain. It is becoming increasingly evident however that these networks don’t have the scalability required to support wide adoption of blockchain and cryptocurrency. This is where Emotiq comes in – delivering an accessible blockchain with superior scalability and privacy.
What is Emotiq?
Emotiq is addressing the blockchain platforms currently available, looking to three major issues. As described on their site, Emotiq is a “next generation blockchain” – scalable, private, natural.
How does Emotiq look to solve these issues?
The network is hoping to overcome scalability issues of Bitcoin and Ethereum by instituting OmniLedger technology. This involves horizontal scaling, made possible by sharding. Sharding is when the network splits into a number of separate, mini channels, by which transactions can be executed without clogging the network, as is often the case with earlier generation blockchains. The alternative, vertical scaling, relies on increased computing power to improve throughput, which comes to a distinct cap. Where existing blockchains are capable of executing less than 20 transactions per second, Emotiq is scalable to thousands (comparable with Visa’s throughput), only increasing as more nodes are added.
The network does not sacrifice privacy for performance, as can often be the case. For wide adoption of the blockchain, privacy is key, as big businesses have a lot to lose from their sensitive data being breached. Emotiq employs zero-knowledge proofs, designed to keep only relevant data visible on the blockchain, while sensitive data is kept secure.
Finally, Emotiq wants to build a blockchain network that does not require PhD level knowledge in order to benefit. The endgame of blockchain is wide adoption, and there is a limited knowledge base in blockchain programming. Emotiq provides a blockchain that is meant to make smart contracts accessible to novices, or even non-programmers. Emotiq smart contracts are written in one of two languages – “Ring”, which is a plain English language designed for non-programmers, and Lisp for more advanced developers. The Ring VM allows users to preview smart contracts, and supports the running of most Solidity smart contracts too.
The Token & ICO
Emotiq presents the EMTQ token, a way of transacting on their blockchain. They will also support the creation of child tokens, which can be created for ICOs and TGEs of projects based on Emotiq. The network features a built in DEX for back and forth exchange between EMTQ and EMTQ child tokens, and atomic swaps for BTC and ETH.
There will be no public ICO for Emotiq, due to regulatory issues. Instead there will be several rounds of private sales aimed at raising their US$39M goal. Minimum investment being accepted is US $100k. 50% of tokens sold will be released upon the mainnet going live, with the remaining 50% released during 3-4 months linearly.
The Team & Roadmap
Emotiq’s team is impressive, seasoned in the tech experience required to build a project such as this. The team is lead by CEO Joel Reymont, a long time programmer and hacker, formerly CTO for 6 months at Aeternity, a cryptocurrency project currently sitting in the top 30 in market cap.
The team plans to have a testnet released in mid 2018, including prototypes of the UI console, Lisp smart contracts and Ring VM. Further improvements are planned over 2018, for a planned mainnet release (along with the native EMTQ token launch) in Q4 of 2018.View ICO Website