Cardstack; Project and ICO Review
The development of Blockchain technology has brought with it different innovative ways of solving existing problems like exchange of value, monetization of intellectual properties and hundreds more. The reality however is that this kind of revolution which has resulted in the creation of thousands of platforms and applications also creates an entirely different type of problem for end users and developers.
Development of software has being made easy by tech giants for their propriety ecosystems, however there is a need for a platform that will make it just as easy to create an “open source” software for Blockchain and then reward the developers for it. There is a growing need for a unifying layer if the internet is to be truly decentralized.
Here is where Cardstack comes in.
What is Cardstack?
Cardstack is an open-source framework and consensus protocol that makes blockchains usable and scalable for the mass market, creating a decentralized software ecosystem that can challenge today’s digital superpowers.
The Cardstack ecosystem is built on a smart contract which is powered by Cardstack Tokens (CARD), the is an Ethereum-based ERC20 token that is designed to create a market place that is self-sustaining where developers are rewarded fairly, while allowing users to curate and combine the perfect mix of software services to fit their needs.
Quote from Whitepaper
Official website; https://cardstack.com/
What do users benefit from the platform?
Why is Cardstack needed?
The gap between the exuberance of blockchain potential and the arrival of a decentralized world economy is still a wide one as real innovation takes time and based on the Blockchain level of infancy and present level of technology, it will still take some time before dApps will run entirely on decentralized smart contracts.
For Blockchain to become usable in everyday life there is a need for creation of on-ramps for users to progressively decentralized their workflows.
Some of the issues Cardstack targets are:
- Standalone apps that usually do not communicate with each other and require users to choose between a numbers of overlapping features to conduct their workflows.
- Absence of integration between different blockchain and decentralized apps (dApps), which requires users to manage the supply of separate utility tokens for each function on a stack of software.
- User’s inconvenience from managing multiple subscription services for cloud-based software-as-a-service (SaaS) products.
How does Cardstack work?
Users of the platform must possess Cardstack Tokens (CARD) to access every service in the software ecosystem.
When a user spends CARD, it seamlessly forms smart contracts between the user and their chosen apps, before getting staked into a reward pool. Based on anonymized usage data tracked by the smart contracts, the pooled tokens are then periodically distributed to the apps’ creators and contributors according to a decentralized algorithmic payment and governance model that rests in the hands of the community.
Whitepaper: https://cardstack.com/whitepaper-pdf
Why would I invest in Cardstack? (Personal Evaluation)
For personal evaluation, I reference four major aspects of any project namely; the project, the Team, The road map and the ICO structure.
The Project:
The Cardstack project as I have analyzed briefly above is one that is long due, it’s revolutionary and I believe if the milestones on the roadmap can be accomplished in due time, it will get a wide acceptance and adoption from the decentralized universe. The project is achievable and will represent a very good investment for the early adopters.
The Team:
The Cardstack team has 17 members which is comprised mainly of Programing and tech experts. I did due diligence and analyzed the team’s background and expertise and by researching their LinkedIn profiles. The bio data of team members is available on the Cardstack website https://cardstack.com/
Head of the team is Chris Tse who has a Bachelor’s degree in Computer Science from Columbia University. He is a technologist and designer who have been working to humanize blockchain technology since its early days. He founded Cardstack back in 2014, where he leads a team of blockchain architects and open-source contributors to build the experience layer of the decentralized Internet.
The Roadmap:
The Road map shows that several targets, features, architecture and breakthroughs designed for developers have already being achieved in year 2017 with a lot more still to be achieved before its full implementation. I would have preferred if the user platforms have been available but since they are already in development and slated to be released this year 2018 the project is on the right track.
The Token and ICO Structure:
The CARD is An ERC20 based token on the Ethereum Blockchain. CARD tokens will be used as a unit of exchange between the users of the Cardstack ecosystem and also for reward payments for using the platform. CARD users can become miners to validate transactions and earn fees.
The Token sale starts 6th of March. People living in or who are citizens of the United States or America cannot participate in the ICO. Investors have to join a whitelist and pass a KYC in order to participate in the token sale.
Ticker: CARD
Token type: ERC20
Fundraising Goal: 35,000,000 USD
Total Tokens: 6,000,000,000
Available for Token Sale: 40%
Bonus for the First: 10% FOR PRE-ALLOCATION
Min/Max Personal Cap: 1000 USD / 50000 USD
Accepts: ETH, BTC, USD
Conclusion:
After evaluating the Cardstack project, my ratings for this is a high one and by my standards, this represents a great project.
I am looking forward to its full implementation for end users this year. I am absolutely bullish about CARD tokens and I can see it conveniently making very good returns in a few months, in terms of value.
I personally will HODL the tokens for a long time as I believe this project has a long term goal for the decentralized universe and is a huge leap from the mediocre projects flooding the ICO market of late with no long term goal.
Official:
Official website: https://cardstack.com
Bitcointalk [ANN]: https://bitcointalk.org/index.php?topic=2768237.0
Whitepaper: https://cardstack.com/whitepaper-pdf
Telegram: https://t.me/cardstack
Reddit: https://www.reddit.com/r/Cardstack/
Twitter: https://twitter.com/cardstack
Medium: https://medium.com/cardstack
YouTube: https://www.youtube.com/cardstackproject
Github: https://github.com/cardstack/cardstack
Disclaimer:
I am not a business advisor and this piece is not meant to be an investment advice. This is my personal opinion about a project I have researched and analyzed. I recommend that you “DYOR” do your own research, join their Telegram community, read the Official Whitepaper and consult your legal adviser before investing in any ICO as they all carry a level of risk. I shall not be deemed liable for any profit or loss on funds invested in this project. Thank you.
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1556229