YGGDRASH — Research Analysis by Black Coffee Capital

Quick highlights on YGGDRASH :

• New Generation Block Chain Platform from Korea.
• Large Team with previous Experience from ICON, CoinOne and Bithumb.
• Improved Data Capacity, Speed, and Expandability
• “Zero” Network Fee — Reputation Scoring System
• Downsizing Data and bring full node download speed to less than an hour when compared to days for Bitcoin and Ethereum.
• DPOA : Delegated Proof of Authority
• $40M hardcap and token price of 0.008$.
• Total Supply: 10billion tokens. 5 Billion Tokens for Sale in ICO.
• YEED Token release date (ERC20) : May, 2018

What does “Yggdrash” mean?

Yggdrash = Yggdrasil + Hash Yggdrasil is an immense mythical tree that connects wells of the world and locations from the underground and to the heaven; and the hash for blockchain transaction and network.

Value Proposition :

What is YGGDRASH?

YGGDRASH is a trust-based multi-dimensional blockchains (branches) built with a vision “Digitize everything into reality” and to connect everything and any blockchain networks.

YGGDRASH’s main-net is called STEM, and its cryptocurrency is YEED.
It is a trust-based blockchain ecosystem where each branch is governed by reputation to ensure integrity.

What problem is it solving?

Transaction Speed and scalability ,Block and Sync Speed. They aim to reduce the speed of downloading a full node to less than 1 hour which is days for Bitcoina nd Etherum currently. Zero Transaction Fees.

They are working on business cases in DEX (Decentralized Exchange Platform) and Remittance. Their founders who have experience on Coinone and Bithumb should be able to help the team on this.

What is the purpose of this coin/token/network?

The purpose is to connect all blockchains using a Trust-based Multi-dimensional blockchain, and hopes to redesign all services on the Internet into a blockchain platform. Their plan is to use what they call Branch Chains similar to the side chains that 0chain plan to use. Each Dapp uses their own branch chain in the system. YEED, the currency of YGGDRASH ecosystem, is one of the tools used to maintain our network while it works as a means of transaction; however, the biggest reason of existence is to connect and maintain a large number of blockchain networks connected to the YGGDRASH network and also In order for you to connect your branch chain to the stem chain (main chain).

How is YEED Token used in the YGGDRASH Infrastructure?

Main use for Yeed would be when a DAPP would want a sub-chain. They will need to stake a large amount to create a sub chain

“The most important area YEED to be used is creating new branch chain. The amount of YEED grants and decides the life of branch chain and, as time goes by, the YEED is consumed. As the ecosystem of YGGDRASH develops and enriches, the value of YEED and the stem and branch chains grow together.”

They have Token burning implemented, which creates more value for tokens later.

Is the Goal clear and user oriented?

Yes, it is and it is trying to address a current problem of speed and scalability.

What is the business model?

YGGDRASH is designed to provide economic incentives to all participants in blockchain ecosystem. It aims to create a transparent, fair, and reasonable blockchain ecosystem for all network participants, rather than to create monopoly environment by someone with wealth and power.

Who are they going against?

BTC, ETH and all BlockChain Platforms.

Who are the emerging competitors in this space?

EOS, 0Chain, ICX and other BlockChain Platforms.

How are they different from the nearest competition?

Reputation score system and the DPOA Consensus system they plan to use.

What makes Yggdrash unique is its Zero Network fee feature. YGGDRASH rewards user with higher reputation with Zero Fee or lower fees. Reputation score is measured on time and beneficial activities spent on the network, the higher the reputation the lower the fees.

Similar concept to people with high credit score in the financial markets that don’t have to pay fees when using some services of banks. YGGDRASH also rewards users with top reputation with a higher share of newly issued YEED.

Also another good thing about this project is that the fees from accounts with low credibility are used as budget for YGGDRASH incubation which will help the ecosystem grow further. They already have 21% of the total token supply to invest in Dapps building on their platform

Use Cases :

Identify the use cases/utiliy of this network/Dapp?

Decentralized Exchange (DEX), DApp Store of Blockchain (DSB). This is a New Blockchain with smart contract capabilities. The use case is to launch dApps that work on their own separate side chains branched off the main chain.

Identify the user base being targeted and potential market size?

Any type of DApp for any use case can be developed and launched on this chain. Most of the masses should be able to utilize it once developed fully and implemented as planned.

Marketsize can be as big as EOS/ICX if development progresses as planned with enough marketing.

Team :

Large Team with 12 core members and 6 Advisors. Most of them have “YGGDRASH” listed on their Linkedin.

CEO: David Seo — COO of Coinone, Top 15 Exchange based on Volume.

CTO: Peter Ryu — Was a Dev Team Manager for ICON.

CFO: Joonhyuk Seo — MBA from UC Berkley and he has Good and Relevant experience.

Ayden Kim — Blockchain Analyst and Leader of the Bithumb Information Security Team.

They got 2 Blockchain Engineers Min Seop Hong and Luke Hwang both with solid experience.

Advisors

Taejin Kang : Vice President at Hyundai Card/Capital/Life, Senior Vice President at HSBC, Vice President at Citibank <<Pretty good All Star here.

The Rest of the Advisors look decent.

What are the incentives for founders/team members/early investors?

15% tokens for Team and 2% for Advisors. Bonus is unknown yet for Early Investors.

Tech :

How sound is the technology behind the underpinning project?

The technology is great and scalable. It is a Trust-based Multi-dimensional Blockchain using side chains. The reason why YGGDRASH is called Multi-dimensional blockchain is that it can connect the blockchains with other blockchains created in different time. In order to connect different blockchains, the time concept in the blockchain must be understood; Bitcoin creates one block per 10 minutes and Ethereum creates one block per 15 seconds. How can those two different blockchains be connected? YGGDRASH solved this task by applying Akashic slice, the chain connection protocol. At the time when the data of different blockchains is exchanged, the result of the block of the node is stored as if shooting snapshot of the moment.

It does have competition in this space, but surely there will be a winner out of all these.

How is the network secured? (consensus algorithm,block rewards, etc. . .) this one blockchains.

DPOA : Delegated Proof of Authority

Both POW and POS have limitations due to the time lag for transaction confirmation. The alternative for this problem, DPOS, questions the methodology how we trust someone with more stake, although it seems rationale to many. Yggdrash applies DPOA, agreed algorithm, giving authorities to users and operators with high credit scores (reputation). This way assures independence, incentive, and expandability while increasing connectivity among participants.

How is the technology going to scale?

YGGDRASH block sync speed

1 AR + 9 BB+ 2 REGIONAL BLOCK SYNC TIME = About 30 minutes

• Block sync speed of other blockchain 4,890,002 BLOCK * BLOCK SYNC TIME = About 8 days

What kind of infrastructure does the network use?

YGGDRASH is a blockchain platform that can connect different blockchains which satisfy business needs of users, and the stem chain and branch chain serve those roles. The stem chain contains address information of all branch chains connected to the YGGDRASH network as if using domain services when we search on 18 Google. In order to connect to other branch chains, the branch chain selects the service of other branch chains needed to its business using the information contained in stem chain. A true competition-free market in YGGDRASH will finally emerge once it is possible to ensure the independence of each blockchain and economic incentive by connecting to other blockchain businesses.

How complex is the code?

No code available.

Does they have any github code?

No, except website details.

Is there a centralized backend in the code?

According to telegram, They are going to add POC code very soon to github.

https://github.com/yggdrash/yggdrash-poc

How is the tech governed and how is it updated?

The representative nominee is selected through the YGGDRASH’s reputation evaluation chain and the representative is finally elected by the committee of YGGDRASH representatives, attending more than 3/4 of members and agreed by more than half of those attendees. The Committee determines and implements operation, discipline, and currency, YEED, policies of YGGDRASH network. In addition, the representative can delegate, transfer, or withdraw a right of representative through the authority delegation model, which manages the authority of representative.

Is it built off another code base or brand new?

New.

How far along is YGGDRASH?

Prototype Ready before ICO End. Test-net launches in Q32018 and Main-net launches in Q2 2019.

Detailed Road Map of the Project Not Available at this point of time.

Links for White Paper and One Pager :

• One Pager : http://cdn.yggdrash.io/docs/Yggdrash_OnePaper_En.pdf
• White Paper : http://cdn.yggdrash.io/docs/Yggdrash_WhitePaper_En.pdf
• Website : https://yggdrash.io/

Disclaimer: This is not investment advice nor BlackCoffee is being paid for this.