- 1 Overview of YGGDRASH
- 2 Blockchain
- 3 Mine
- 4 Network
- 5 How Many YGGDRASH Coins Are There?
- 6 What does the company/project do?
- 7 What Is YGGDRASH's Price Today?
- 8 How advanced is the project?
- 9 What are the tokens used for and how can token value appreciate?
- 10 How Much Did YGGDRASH Raise?
- 11 What is Yggdrash?
- 12 How to find new cryptocurrency projects?
- 13 History of YGGDRASH
Overview of YGGDRASH
A project needs more than an idea to be worthwhile – especially in this competitive environment.Some kind of niche is needed, be it development progress (Nano, Zilliqa), business development (ICON), industry (Vechain) or geographic focus (NEO, ICON, QTUM), development team (RChain, EOS, Cardano), or investor backing (aelf, Zilliqa).By the time Yggdrash main net is released, ICON would probably have over 10 dApps/ICOs running on the platform and its main net would be running for over a year already.However, YEED tokens will be distributed in May, which is a longer time period than the average ICO project.Note: KYC/AML happens AFTER crowdsale and those who failed KYC will receive a refund.Network effect is crucial for blockchain, so we believe it would be very difficult for Yggdrash to compete against ICON.There are so many next-generation blockchains claiming to be faster and cheaper than the current incumbents.Our thoughts of the tokens for short term and long term are as follows:For short-term holdingNeutral.Overall, we are neutral about the short-term potential of this ICO and are negative about its long-term potential.The KYC process ends on April 22, 2018 so the refund probably takes place afterwards.For long-term holdingNegative.This makes Yggdrash a more regional blockchain similar to NEO, QTUM, and ICON and puts Yggdrash in head-to-head competition with ICON.As detailed in the “Yggdrash versus ICON” section above, we believe ICON wins out in various categories, most importantly development timeline and partnerships/business traction.While the team is solid, their background is heavily related to Korea so we believe Yggdrash would have a difficult time gaining traction outside Korea.Yggdrash has none of that.Yggdrash should have no problem reaching the hard cap given the market awareness.
How Many YGGDRASH Coins Are There?
There are currently 6,561,014,608 YGGDRASH coins circulating out of a max supply of 10,000,000,000.
What does the company/project do?
Yggdrash is a new blockchain that aims to improve upon today’s blockchains with improved data capacity, speed and expandability and a reputation scoring system.They plan to downsize the amount of data running a full node of their blockchain consumes, such that a user could download one in under an hour.Their method of achieving this is through their Block Reassembling Algorithm, which consists of the Akashic Record, Block Boxes, and Original Blocks.The Akashic Record stores the results of all transactions from a Genesis block to a block at a specific checkout point (e.g.100,000 blocks), Block Boxes contain a set number of blocks per box (e.g.10,000 blocks), and Original Blocks are standalone blocks that have not been allocated to a Block Box.A user seeking to run a full node would be able to download the blockchain at a much faster speed than other blockchains, as they would be able to download the current Akashic Record and a small number of Block Boxes and Original Blocks, rather than having to wait for each block to sync.The reputation scoring system is based on resources spent on the Yggdrash ecosystem and allows very reputable users to transact using their blockchain with little to no transaction fee.On top of this, they are building a Delegated Proof of Authority (DPOA) algorithm to reward users with high reputation over proof of work or proof of stake as well as implementing sharding to increase transaction speed.Yggdrash’s key differentiators as a standalone blockchain are how they are conceptualizing branch chains along with their original or “stem” chain.Yggdrash’s branch chains function as both a dApp and an independent blockchain.These branch chains can select their own algorithm and establish their own governance.They eventually can become decentralized autonomous organizations (DAO).
What Is YGGDRASH's Price Today?
YGGDRASH (YEED) is trading at $0.00125 USD, increasing by 32.96% since yesterday.YGGDRASH has traded $427,630 USD in the last 24 hours.
How advanced is the project?
Yggdrash has only posted proof of concept code on their GitHub and will not be releasing their mainnet until next year.Overall, development and conceptualization of Yggdrash only started late last year.
What are the tokens used for and how can token value appreciate?
YEED is primarily used to reward miners on Yggdrash.Miners can choose to either mine reputable branch chains, or the network as a whole.YEED is also used in order to connect branch chains to the main stem chain on Yggdrash, so as more dApps are built using Yggdrash, more YEED will be consumed in order to maintain them.YEED can appreciate if Yggdrash manages to secure a large amount of users, miners, as well as dApps on their platform.More users leads to more transactions, which leads to more blocks being created and needed to be mined.More dApps leads to more branch chains, which offer more utility and value to users and potentially better mining choices.
How Much Did YGGDRASH Raise?
The YGGDRASH ICO (initial coin offering) raised $40,000,000 USD by selling 4000000000 YGGDRASH tokens at a price of $0.01 USD.The YGGDRASH ICO began on March 19, 2018 and ended on March 23, 2018.Key team members during the YGGDRASH ICO included David Seo, Peter Ryu, and Joon Seo.
What is Yggdrash?
Yggdrash is a cryptocurrency with a price of 0.001215 and marketcap of 8,078,130.Yggdrash’s market price has increased 29.27% in the last 24 hours.It ranks 1156 amongst all cryptocurrencies with daily volume of 411,506.
How to find new cryptocurrency projects?
One of the biggest challenges in the crypto space is to find the right projects at the right time.There are hundreds of projects launched…