Uranus ICO Review & Rating
1. Use Case & Technology
Uranus is using blockchain technology to make redundant computer power available for global cloud computing purposes. Supply and demand for redundant computer power will be aggregated in the shape of a marketplace. For this purpose Uranus uses distributed container technology in the shape of the uraContainer. The uraContainer combines a virtual machine with container technology. The project wants to position itself as an alternative to large corporations who offer cloud computing services such as Amazon or Microsoft. Eventually the users should be able to purchase computing resources through a client interface. Prices will be determined through supply and demand.
In terms of consensus mechanism Uranus is using a hybrid between the Delegated Proof of Stake consensus mechanism and the Byzantine Fault Tolerant consensus mechanism. Among the use cases the Uranus wants to fulfill is IoT node management and deployment, planetary orbit calculations, weather data analysis and DNA calculations. Uranus is planning to support parallel computing technology, which allows for simultaneous execution of processes.
Uranus wants to provide an API for external developers and third party developers will be able to develop decentralized apps that will run on Uranus.
The Uranus Foundation who is responsible for the development of the Uranus project was established in March 2018 in Singapore. Uranus released its community version in the third quarter of 2018. At the beginning of 2019 they plan to release their commercial versions. Eventually a more advanced version of their protocol, which they call Ecological Version, should be releases in the second quarter of 2019.
3. Governance & Token Economics
The mechanisms behind Uranus are borrowed from the Tendermint Algorithm. Tendermint was one of the first consensus mechanisms that was proposed without using mining and it is completely open source. The Tendermint Algorithm defines validators as those entities that are responsible for committing new blocks in the blockchain. Validators who want to register on the Uranus network are required to put a deposit in form of the Uranus token, who are called URAC tokens. Anyone may lend tokens to a validator in exchange for a reward. Furthermore stakeholders are enabled to vote for validators based on the tokens they hold. Tokens may be used in order to purchase computational power on the Uranus network.
4. Team & Advisors
James Jiang is the founder and CEO of Uranus. He holds a Master of Mathematics from Texas State University and a Master of Operational Research from Nanjing University. He has previous entrepreneurial and corporate experience. His fellow co-founder is Halley Han, the Chief Architect of Uranus.
Halley has a Master in Automation from China Agricultural University. He is an expert with linux and cloud computing. The third co-founder is Kevin Wang. He is the Chief Marketing Officer of Uranus and previously worked for Alibaba. The team has a proven record of shipping high value added technology products in the Chinese tech ecosystem.
The technical advisors of Uranus are Sheng Liang, a container computing expert, Liren Chen, a computer scientist, Haining Zhang, a cloud computing expert, Haiming Yang, an electrical engineer, and Zhou Shao, a software architect.
Among the business advisors are Zisang Wang, a technology author, Xiaonan Song, a grid computing expert, Xinhao Lv, a blockchain entrepreneur, Michael Meng, a vice president at Xinyuan Technology Group, and Peng Zhao, a Hyperledger angel.
Uranus keeps their community informed through a Medium blog and a Twitter account, where they have more than 6,000 followers. Furthermore Uranus has a Telegram Group with more than 80,000 members. The project encourages contributions from the community and runs a bug bounty program.
6. SWOT Analysis
There is a significant number of strategic investors who trust in Uranus. Among them are Du Capital, Acropolis and Imagination Fund.
At the current stage Uranus has not yet proven that it is capable on the promises made in the white paper. The code base is not yet fully published on Github.
The technology that Uranus proposes can be used for a number of use cases such as general-purpose, large-scale and distributed computing tasks.
There are several blockchain projects who are competing for leading the distributed computing space. Currently the most successful attempt is Golem.
ICOFocus Rating: 7/10
**Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information.