Average rating : HIGH
Coinweb, a Multichain App Protocol. Bridging the crypto world, Coinweb utilises existing cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Dash.
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There is definitely a need for a layer-2 solution to allow for the onboarding of users and traditional businesses onto blockchains. The dsLayer has a wider scope than the atomic swaps and cross blockchain crypto asset transfers that we’re used to. The dsLayer has direct access to the information in the underlying chains, which allows more direct merging of information, properties, and functionality from the underlying chains. It also removes significant scaling bottlenecks buy decoupling transaction collation and execution. The dsDNS is a nice solution, and what truly sets it apart from similar solutions is that fact that no consent is required from the underlying chains to connect the naming system to them. It maps down to the underlying hash addresses, thus no changes to the underlying chains are required.
“We already have agreements with six candidates which represent over $1 billion in book value and more than 100 million users, and the Launch Pad is led by the former MD of Cisco’s Incubator program, Tom Yoritaka.” This is a massive statement, and it would be great if Coinweb will release teasers on who the candidates. The team have informed us that since then, two more businesses have been onboarded and pilots will begin in Q4 2019. The team have been working in the background and securing partnerships, clients, and making the right moves towards commercialization.
The DEX is also nice feature to have, giving users the full ability to be able to send and purchase coins easily. Despite this, we note that the project scope is extremely wide. We do feel that Coiwneb is trying to do too much, too quickly at times, however if progress continues we are hoping the team will prove us wrong. With that said, the team comprises strong talent with extensive experience at top-tier technology giants. The business plan and roadmap are well planned out with expense projections seemingly accurate. The project goals can be achieved with the help of mass adoption, and we have no doubt that Coinweb will gain traction from both media outlets and retail investors in the coming months. Bridging blockchains and interoperability solutions are sought after by many stakeholders in the cryptocurrency niche and by large organizations considering the implementation of the blockchain technology into their existing systems. It is an attractive niche, that is proven to bring not only groundbreaking innovations to the ecosystem, but also bring investors a positive ROI over time. Lastly, the team is looking at releasing their tokens over the next 5 years, demonstrating their commitment to the overall vision of the project.see more