Aug 6, 2018
The recent development in Artificial Intelligence (AI) and Big Data technologies and the dramatic increase in adoption of these technologies signify an ongoing and exponentially growing demand to both storage capacity and for computational processing power vis-à-vis the broader adoption of these technologies.Big Data technologies such as the Hadoop framework (notably its MongoDB, HDFS and Spark databases) require vast amounts of storage capacity, either in a centralized or a distributed manner, for processing and managing Big Data files. To a large extent, Big Data technologies support the exponential growth of data in any type of organization, within web based services and social networks and their implementation is essential to support the proper operation and processing of these vast amounts of data (see Fig. 1).Machine learning and deep learning processes (notably Google’s TensorFlow, Caffe and Theano; see also: Dean et al., 2012, Ray, 2017) carry out advanced computational pattern recognition, image recognition and predictive analytics that require high volume of computations. The scenario of an exponentially growing demand for both Big Data and AI capabilities is solid and highly tangible, given that both technological areas are the basis to support IoT and Industry 4.0 systems. Additionally, though Big Data and AI technologies are only at their infant stages of implementation, most of the corporates and public institutes have begun examining their application to improve many aspects of their operations.
Platform Design and Architecture: September 2017
Platform Development and Kickoff: October 2017
Whitepaper Presentation: November 2017
Platform Launch: Decemeber 2017
Pre-ICO: March 2018
ICO Launch: April 2018
Smart Contract: May 2018
Distributed Storage: August 2018
Distributed Processing: November 2018
Integrated DApps: January 2019
Attention. There is a risk that unverified members are not actually members of the team
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$4 037 923
IAGON is a platform for harnessing storage capacities and processing powers of multiple computers over a k decentralized block chain grid.
MARKETMarket competitive environmentThe team has published a document called "Competition Analysis". This compares the IAGON platform with the main decentralized platforms already in existence.The size of the cloud services market providing both storage capacities and computational processing capabilities to companies and to corporates is estimated by 45 billion USD per annum and it steadily grows.The demand for storage and for processing power is expected to exponentially increase with broadening the introduction of AI applications in new areas and with the widespread adoption of data collection from multiple channels (such as sensors, social networks, data providers, etc.) and later processing them.
Project advantages:IAGON was built not only to serve the decentralized network but also work with current data storage facilities like SQL and NoSQL databases. The approach taken with IAGON is unique to the point that IAGON utilizes is machine learning algorithm to distribute load across a decentralized network for processing and then encrypts/decrypts data which flows through its systemOne of the major uses of IAGON’s Secure Lake technology in encrypting, slicing and distributing the data lake fles is “freezing” the lake, that is prohibiting by means of encryption and decentralization of files any party from navigating within the data lake after gaining access to it.IAGON ’s technology ensures that even when information systems are breached in any way, the data and files that they use cannot be accessed, deleted or modified in any way.IAGON’s platform is fully decentralized and secure since it runs on Distributed Ledger Technologies (DLT) - there is no single point of failure or possibility of hacker attack.IAGON uses the Proof-of-Utilitarian Work (PoUW),where the Iagon miner nodes need to proof the usage of their spare resources with meaningful computational work (CPU cycles and computer storage)All customer files are highly secured, using Hash cryptographic trees, fragmented using sharding techniques, copied for redundancy, and distributed among several P2P miner nodes
What makes IAGON unique is the fact that IAGON is able to integrate seamlessly with current database architecture including SQL, NoSQL, Big data databases, private Blockchain, hyperledger, or any public Blockchain or decentralized network.
RISK ASSESSMENTStrengths:The cloud services market that provides both storage capacities and computational processing capabilities to companies and to corporates is estimated by 45 billion USD per annum and is characterized by ongoing and steady growth.Iagon has closed agreements with Oracle, Ties.DB and HP Cloud28+ as strategic partners.Miner’s application, Decentralized storage and Investor/user dashboard is completed.Token has signs of utility-tokenThe project developers use a combination of machine learning algorithms, neural networks and the Blockchain/TangleAccording to the audit report of the smart contract of May 20, 2018, the project has no remaining security concerns about the Iagon Token smart contracts, as all detected issues were either fixed or addressed.What makes IAGON unique is the fact that IAGON is able to integrate seamlessly with current database architecture including SQL, NoSQL, Big data databases, private Blockchain, hyperledger, or any public Blockchain or decentralized network.The Alexandria Protocol uses AI techniques for continuous analysis of the distributed computing performance parameters of miners and optimum resource allocation of peer-to-peer (P2P) Blockchain/DLT networks.IAGON’s platform is fully decentralized and secure since it runs on Distributed Ledger Technologies (DLT) - there is no single point of failure or possibility of hacker attack.IAGON uses the Proof-of-Utilitarian Work (PoUW),where the Iagon miner nodes need to proof the usage of their spare resources with meaningful computational work (CPU cycles and computer storage)IAGON can work and partner with any decentralized computing processing and storage player - it can partner and complement other decentralized Internet infrastructure solutions, enabling a shared Internet economyIAGON’s Alexandria Protocol is technology-agnostic and can work with any underlying Blockchain/DLT platform (e.g. Ethereum, Tangle IOTA, EOS, etc)All customer files are highly secured, using Hash cryptographic trees, fragmented using sharding techniques, copied for redundancy, and distributed among several P2P miner nodesIAGON will partner with data centers, distributed cloud storages and others to increase IAGON’s miners global presence. Currently Iagon has closed agreements with Oracle, Ties.DB and HP Cloud28+ as strategic partners.Currently, the marketplace offering is integrated into Iagon’s existing app that also allows users to sell and buy storage capacity.Weaknesses:Low interest from the communityHardcap 50 000 ETH is high (optimal is $ 6-8M for the current market)It’s not clear how technically will be performed revenue share distribution.Part of the advisors performs a nominal role and they are working on many projects at the same time.There is no confirmation of partnership with BitNautic in the open sources;The project does not provide mechanisms that protect investors from misuse of funds by the project's founders.Low finance indicators of fundraising, capitalization, and ROI of similar projects.Hardcap is 10 times higher than softcap.Bonus and price for the Private Sale are unknown.A bonus up to 50% is high. Optimal bonus is up to 30%.
Strong team, project and overall vision. Yes, it is a tough space with many projects competing for it, but Iagon may be able to pull ahead with the team build. Met the CEO, and am encouraged with his leadership.
IAGON has positive feedback from the community arising from a balanced marketing campaign. The information presented in the documentation corresponds to best corporate practices. IAGON has an extensive financial plan that is fully published. The project team discloses a five-year P & L (with a monthly breakdown in the first year), a revenue structure, cash flows, a breakeven analysis, etc. Such a range of quantitative information is very useful for investors, as it enables increased transparency for the project and the team’s strategy.The most significant risk for the project is the powerful competitive environment in the cloud services market. The largest online companies have already claimed a large portion of the market, and competitive struggle constantly forces them to improve their services.
Currently, it is a utopian idea to count on driving out giants like Amazon. Claiming a market share with a decentralized service will be gradual, and the project will have to start small. This is understood by other decentralized projects as well.
The project that launches the first convenient service will gain an advantage. We hope that the IAGON team understands this risk and closely follows its competitors’ progress.
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